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Re: Liz Truss [Prime Minister]
Quote:
Originally Posted by jfman
This is the thing… nobody actually “paid in”. It comes from present day tax revenues and current expenditure (as it always has).
In 1948, when it was set at 65 for men and 60 for women. Life expectancy was about 67. The population had grown over time meaning payments have traditionally been a relatively small amount of all expenditure.
Now people are living longer making it a greater proportion of the current expenditure. It’s £100bn, up from a mere £40bn 20 years ago.
I don’t think anyone is jealous at all - there’s simply a legitimate question about the best use of limited resources.
---------- Post added at 23:04 ---------- Previous post was at 22:58 ----------
Most have been moved into an average salary scheme going forward.
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Bollocks. My Dad paid into pensions not just the standard government one as I am sure a lot of the other well off pensioners did.
Lots of pensioners do live of the state pension alone those are not well off and get only a little more than someone on ESA for example
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