General > RANT

Who would you vote for...

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PurpleYouko:

--- Quote ---Much better to spend the money on giving free money to pensioners.
--- End quote ---
Free money eh?

What about the national insurance that they have been paying into SERPS (State Earnings Related Pension Scheme) all their lives.
about 3% of all earnings goes into this out of national insurance.
With a menial wage and working for 45 years and with minimal interest, this sum that the government forcibly took from each OAP comes to about 50,000.

If that same money had gone into a private pension scheme then it would be worth nearer to 500,000 probably.

Then they bitch and moan that they can't afford to pay the poor old pensioners the money that is rightfully theirs. They cut state pension until the OAPs are on the bread line.
Each person technically has a personal pension account though they just lump it all together into one fund which they then dip into to pay for other stuff.

Just imagine the scandal if a private pension company like Prudential did the same thing with your pension fund. It would make the ENRON scandal look like a picnic with Mary Poppins.

They have so many outs too. For example, if you don't pay NI for a single year, they cut your personal fund by about 5%, no matter how big it was initially. Take my case for example. I have now been away from England for 5 years and my NI pension fund is pretty much wiped out now. I paid into their crappy compulsary state pension fund for almost 20 years and I am never going to see a penny of it back.

I spent a couple of years dealing with this stuff profesionally as a financial consultant back in the late 80s.

The whole bloody government should be locked up for fraud if you ask me. The pension scheme is just a big fucking rip off!

I had better stop now. I'm starting to get annoyed.

Shen:
I'm not having a go at pensioners PY :P When I say free money Im reffering to the parties bribes to get pensioners to vote for them, not recieveing the pensions they paid into. I even agree that the state pension is just dumb. Im saying the government should be doing something about it so its not me that ends up paying the bill at the end of the day.

As you probably know the population is ageing in western countries and people are living a lot longer. This means that there are more pensioners for people of working age to support. So just how is the state going to fork out an ever increasing amount of cash to more people when they are getting reduced income from taxes due to less people of working age?

There are three real options.
1) Increase taxes for me
2) Decrease pensions
3) Increase the retirement age

None of them are good options but if no action is taken then the problem will just keep getting worse until we get a variety of nasty scenarios.

Also you may not be up on recent events over this side of the pond. Most of the private pension schemes have either gone bust or given very poor returns due to the stock market crashes, saying people should have invested in private pensions would mean there would be even more people relying on the state for support. The current shortfall in private pensions is £160 billion (count it).

You add all this up and then note the fact instead of taking action to reduce the future costs they are increasing pensions, giving tax breaks, handing out bribes (literally) and have already backed down from making the public sector retirement age 65, your left with the fact that not only are they doing nothing to solve the problem they are actively making it worse for there own short term political gain.

Maybe this should be moved to the Rant forum :D

PurpleYouko:

--- Quote ---Maybe this should be moved to the Rant forum
--- End quote ---

Very probably  :D

(topic moved. forward link left behind)

Botsareus:
ON THE SUBJECT STUFF:

Who the hell wanted Linkin Burthsday and Washington Burthday to be called 'Presidents Day', sounds like revolution is comming if they put away the names of ower 'founding fathers' -Michal Savage (some mean, talk show radio)


AND I VOTE FOR MY GRANDDAD TO BE PRESIDENT, if he was well enough , god bless him...

(dont reply)

MightyPenguin:
Bots, this is about the BRITISH election (which takes place TOMORROW, by the way). Fuck the Yankees.

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