This Is How They Scrap The UK State Pension
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- Опубліковано 8 вер 2024
- This is how they scrap the UK state pension or at the very least introduce changes that will impact millions of people's ability to access the full UK state pension in the future. Here's what we know.
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Question - What are you thoughts on the topic discussed today. Leave a comment and have your say.
Disclaimer: None of this is meant to be construed as investment advice, it's for entertainment purposes only. The video is accurate as of the posting date but may not be accurate in the future.
About: Peter the UK state pension and debates to make it means tested
My Father, said many years ago. "They do not want people living beyond retirement age"
I think he was right.
Apart from the wasters in charge 😂
The jabs were part of this to ensure people don't
The pension age was originally set at the average age of death, for men at the time. So in other words, the lucky few got a pension. Today the average age of death is 79. I've told my apprentice aged 21 to start his own pension if he wants to retire before the age of at least 75.
They would prefer us to die when we are 65, then they will be quids in.
@@davidpost6902 my dad paid into NI since he started working at 16, he died at age 59. My mum worked and had two children then went back to work and paid her NI she died at 57. I wonder how many people born in the ‘20s to ‘70s paid NI for many years then died before they had the chance to draw theirs.
I’ll bet if it is means tested, there will be some loophole for MPs to get their full state pension and their obscene pension that tax payers pay them all!
If the state pension is unsustainable then their gold plated public sector pensions are not sustainable either
@@xtc2v still I can’t see that stopping them!
@@xtc2v that’s what we should fight for. If they can do it to us, then the gold state pensions should get a readdress too.
😂😂😂 100%
@@xtc2v100%
If we are struggling as a nation why are we sending money oversees and supporting others when we are struggling
Not just that, but why are these using our money to fund and support these wars. Not really in agreement with this guy.
Are we becoming a 3 third world country it looks very much like it where is our economy gone
Kalergi plan.
Exactly, Kier Stalin sending £3bn a year to Ukraine for a war that doesn't concern us!
@@gordonmckee8659 it defo looks like it, with all the unwanted guests turning up to the BBQ, bringing nothing with them, demanding they get fed and watered, then expecting to sleep in the spare bedroom and get served breakfast too!
From a new pensioner, I have a verry small private pension, I have paid my taxes all my life, and now they take tax off that pension leaving me with less money, but they are quite happy giving our money away
Nobody is taking your pension away. These UA-cam channels are made with the express intent of making money by clickbait. It’s the same as when disinformation was spread during the pandemic. There are always disingenuous people like this man who will take advantage. To do this by spreading lies and causing fear is reprehensible. Shame on him. His conscience should be troubling him, but it won’t when it’s making him money. Best not to follow him and tell others not to. If these charlatans aren’t being paid by YT they will stop.
When I started working 1982 as a female, I expected to retire and get a state pension at 60 years if age. It was changed because of equality with men to 65. Then it was changed to 67 years. I still don't have it, as I am 61 years old. I worked hard and have a private pension. I still would like a state pension because I have contributed all of my life and still live with and care for an adult disabled son. I get no money for looking after him. I haven't asked for anything from the government. I expect to get the state pension I have taken care to fully pay up. I have stood back and watched every generation before me get it, including older siblings. To stop me getting it now is grossly unfair and unjust.
It's completely unjust that you guys didn't get it at 60. We should have all backed you up more because they will continue to move the goalposts until we say Enough. Starmer having to change the law to facilitate his enormous pension makes it even more sickening doesn't it.
A contract is between two people not one tyrant demanding what they want over the wishes of the other that's why we have law and a very docile pampered law we have start with their pensions first just for the arrogance.
I started working Full Time in 1978 - expecting to receive State pension at 60 same as so so many before me! We have been well & truly shafted!! 1978 to 2029 = 51 years Absolute TOTAL Disgrace!
@@user-ny6sv6eb1k i am in exactly the same situation
@@user-ny6sv6eb1k Whereas men were always retiring at 65, living far less. Men, in effect, subsidising women. When does pension equality actually mean female privilege?
I disagree. I've paid into state pension since i was 14 years of age.. it is not a benefit it is rightfully mine when the time comes.
Unfortunately you may find that is not the case. Your contributions paid others pensions. There is no pot of money you are reliant on current taxpayers. Up to 50% of council tax goes on pensions.
@@ginawebb3697 I don’t blame you for saying that, but unfortunately the government would disagree.
Sadly it’s not
14?
@@livingladolcevita7318 Yes! I left school at 15, the generation before me left school at 14, So to have left school and started work at 14 you must be in your 80's at least. I started work at 15 and am now expected to live on £11K a year, that's way lower than minimum wage. I could never afford a private pension so have to depend on my state pension for everything. That has to change, I can see a time coming when you HAVE to pay into a private pension and if you don't choose one the state will delegate one for you(a crappy one with poor returns). I was useless with money, when I was young I didn't care! I got married and had kids, still useless with money but instead of learning I left it to my missus, who was even worse than me(I found out when we got divorced just how she ripped me off), it was my own fault, I was too busy working all hours so left it all to her and it all got out of hand. I'm convinced that if I had been taught at school how to handle money, I would be sitting pretty now! Algebra and trigonometry, even history and chemistry have been just wasted time, not used in real life, Money management courses would have been far more beneficial!
I suggest they STOP GOLD PLATED pensions first, for MPs and Civil Servants, before they review the State Pension!
Stop pensions that people sacrificed their pay for? Not national insurance, but sacrificed salary. My pension which I took out in 1998 with a retirement date of 65. It’s now 67. So that 2 years that I should be getting gone. Stolen by the government. Now my national insurance contributions won’t count for anything.
Means testing already happens because if you have more than a certain amount you don’t get the benefits that others get. My mum gets nothing extra from the state, but if she qualified for the additional benefits she wouldn’t have had to pay for her replacement boiler, would get reduced of free council tax, etc. means testing benefits. I’m f’ing tired of working, paying tax, saving etc and then getting f’ked for things I should be getting because that’s what’s been there. Why work hard when it gets taken away from you. Just be a layabout and get everything gifted to you for free. Tired of this country’s politicians time for them to go.
@@davideyres955 in the end nobody wins layabouts don't win
@@maninarucksack8983 a large number of civil Servants are on benefits as well as working as the low wages means they qualify for tax credits . You are using an umbrella term of civil servant when you actually mean senior civil servants who earn big money the majority don’t . As for the pension scheme it has already been changed , in my case I have to work for 47 years and pay in a lot more to get a full pension . This was changed regardless of what I signed up for 34 years ago . The point is the government ( labour or conservatives) will have no problem changing the state pension as they have already changed the civil service pension scheme ( the way they did it by the way was found t be illegal anyone interested look for the mcloud judgement ). And so to say they should change the civil service pension scheme ignores the fact they already have . Mic drop 🎤
@@Done-737 layabouts don't lose though do they?
Rent paid for. Free NHS. No / low Council tax etc.
Looks like the best is not working all life and having it all free - boilers, insulation, new radiators, solar panels, covered by gov rent, half paid water, free health care, etc AND get benefits and state pension too with no contributions what so ever ⁉️
I was a lorry driver for over 52 years and paid £50 a week into a pension for over 22 years and it went bust in 2008 and ended up with nothing notlike them in the government minister there pension are guaranteed they do not care about any body else .
So sorry to hear this ,was your pension a final salarie,,,,because if it was it should be with pension protection fund ,,,,,,,I am not a adviser .
Pensions like charity's are a con as most of the money goes to pay the people working in them.
Private pensions are linked to investment, my pot went up only 300£ during 1 covid year when index funds made MINUS, so we all made loss thinking of the monthly contributions paid in
Gordon Brown put the tax up on private pension funds. I remember one 70 +year old man saying he had lost £18,000. People's contributions were supposed to be invested and used to pay their pension once they retired. Because the governments have used the funds to pay the pensions of folk retiring before you. It is a Ponsi scheme. Would be a criminal offence if anyone else did this.
You should’ve stuck it under your bed …
Wouldve been over 50,000 at the end.
Its odd that people still think that we live in a democracy. The government will have a debate, but not a referendum. People at the top of our society's decide our lives with little to no say being given to the people. This is reality.
Over a period of time, our rights are gradually being eroded away. And they keep making decisions to rob the public of their own money. Its time for a revolution. Its time that the public awoke and realised that no government is their friend.
You're right and we have no democracy any more, if we did then would have a referendum on important subjects such as giving money for foreign wars and about taking our pension away!
@henryb1555 Davos runs our country. We are not a free stayed. Both parties under orders from The WEF
Yes the public are way behind.
If I had £30.000 per year I'd class myself as well off. I now get my full state pension of £221 per week and a further £80 from NHS pension. So Just over £300 a week. That's a little over £15,600 a year. We no longer own a car, don't smoke, don't go on holiday, but we do eat well, and pay our council tax, gas and electric, water rates, home insurances. I worked until I was 65, paid for my home that this government want to take off me should I end up in a care home. I also lost 6 years of my pension, as I'm a WASPI woman. Seems to me we need to stop the gold standard pensions for all those in politics, the bankers. I didn't bury my head in the sand, I paid into a pension as did my husband. He was let down by the NHS and left brain damaged, and he never got justice. How should people like me be helped? My son doesn't earn enough to live on his own. How do young adults on poor wages stash money for their old age when the cost of living is ridiculous because of our inept governments past and present.
If the State Pension is a benefit, why is it taxable? Other benefits aren't taxable!!
It's only taxed if other contributions push you over the tax threshold.
@@foilrider2000 Yes, but by law the state pension is taxable, I live in Spain, declare total income (my Gov military pensions) and make my declaration each year.
@@alangough3407only if you go over the tax threshold.
Other benefits are taxable if you receive over the personal allowance
Well they are, or at least they say there are. For example they will have a flat amount to give you for Jobseekers or Universal Credit and they deduct from that into tax.
The people who have paid in have EARNED that pension 😡
Sadly it doesn't work like that despite what we've been led to believe.
Yes, we'll not get it but, those that never contributed will still get theirs!
My grandfather retired from the police force at 55 and was retired for about 40 years before he died. He didn't earn the amount of money he got in retirement.
@@jeremyhares979 sadly N.I. is just a tax, even when earning £30K a year you would pay in double what it costs you to top up a full year of missing NI payments. The imbalance of what is paid in and what people get out someone on £100K a year is paying substantial N.I. Deductions/tax and would get the same credit as an unemployed person. This is madness, the government should look at allowing any NI deductions taken above the base amount to be put into the individuals pension plan via their employer
@@OldQueer my dad is a retired police officer too, his plan (hope) is to claim a pension more than the 30 years he paid in, which is getting close ;-) - his generation did well out of the prevailing system. No judgement, play the game based on the prevailing rules.
How about our politicians are not so profligate with our money, the waste is enormous.
That'll be the civil service. People forget, they are the ones who have to sign off on any spending plans.
I reached retirement age February this year, I’ve applied for 4 jobs since, 2 were for organisations I’ve worked for in the past, so far I’ve been unsuccessful in all 4 applications, they say work until your 70, yet they won’t employ you past 50+, these organisations say they don’t age discriminate, yeh right
davidharris, no jobs for the British Subjects because they are recruiting via Indian and African agencies for cheap labour.
They should be reported to your MO and it should be raised in Parliament, because it’s against their law! 😤
@@12235117657598502586 you have to prove it, that’s the problem, easy for them to say, “the person we employed had more experience” had an interview 3 weeks ago today for a 12 month fixed term contract, with a housings association I’ve worked with twice in the past, the feedback I had from the agency who put me forward for the position was “they are not offering me the contract “ I did tell the agency after the interview it was one of the most unprofessional interviews I’ve had, interviewed by two so called senior surveyors, there was a person from HR present and she had to repeat 9 out of 10 questions, as she thought they were not presented correctly.
State pension should not be means tested. It is an entitlement due to the people who contributed to the pension fund during their work life in the UK.
Yes I agree but the gov have changed it to a benefit without a word to us thieving bastards,All of them.
There was never a pension fund. Your contributions went straight to the pensioners of the day in the same way that people paying NI contributions today are funding your pension. The state pension is operated completely different from a workplace pension as there is no fund or pot
Pension is NOT a benefit, it is what people worked all their lives for.
So true, just because the government call it a benefit, does not make it morally acceptable or collectivly agreed upon. In fact most of are social rules and laws have to be a collective agreement of the majority on the street. Otherwise there is chaos,... and there lies the problem, we the majority do not conform to the minority political class view. It we get to a critical point of dissagreement, laws and social mores will become chaotic. Looks a bit like that now.
What person leaving school and moving into employments thinks about what his/her pension is going to be because this is not contained in the education system.
The Government call it a benefit so it is ? WTF are people really this brainwashed ? The Government can't just change the definition of words to suit their agenda. You pay for something for 35 years it's NOT a benefit. The Government can call a duck a chicken but if it floats & goes quack quack it's still a duck.
That’s what you’ve assumed but actually NI is a tax used to pay current pensioners and there is NO pension pot of money. Get over it, pensions are gone.
@@jsanders100 It's because that pension pot is running out that they are having to delay the day you qualify by raising the retirement age and if it was paid from NI it would be easy enough to raise your contributions
Yet people who have never worked get tup ups, free home insulation, grants for keeping warm! NO NO NO, I have paid my whole life to get this pension, and paid for my private pension too! Give me back my contributions then! We are being penalised for working all our lives and saving for our future¬!!!
Exactly, our pension is classed as a benefit but we can’t claim free stuff like others on benefits. I need a new boiler but can’t get a free one like others on benefits.
@@cgat1955 not only a free boiler but warm home benefit, and pension credit, and probably other benefits
Aged 69 still paying into my private pension I may have to go to 75 . I’m knackered so keep your hands off my statepension
I almost feel like the less you do, less you contribute to society, less you put away for future, the more you get. How unfair is this getting
I agree. We should all aim to better ourselves and do well in life. But why?😢
Work too hard ... Sorry no state pension. Good that the Government are pre- warning you of the consequences of working too hard.
Yep..agree fully
Correct
The evidence supports your statement 100%
After the recent cull of pensioners they must have saved a lot. Also many of our young are dying way before their time after the recent medical intervention.
I 100% agree. I'm seeing so many young men dying of heart attacks, plus midazolam in care homes finished off the elderly. The NHS isn't fit for purpose. I'm 67 really rely on my pension, my husband has to work. They want us dead.
Spot on ! This is precisely what is happening. You work until you drop and then they laugh and take all the money that you put in the system. They keep you working longer and longer in what is now a 40-hour a week job. Most people have paid in much longer than 35 years and what is happening to all the money they no longer are paying out due to increasing the retirement age as well as killing off our young people ???
Excess deaths ^
Good 😊so hopefully the gubberment is saving loads so they can pay us, marvellous 😊
There is another cull coming in 2025,
Beware,
Prepare
Let’s get things straight. If these DISGRACEFUL politicians stopped giving our taxes to foreigners, foreign lands and immigrants they could DOUBLE the pension. It is the ONLY ‘benefit’ that you need to pay into for 35 plus years to get a return of the lowest pension in Europe. Disgraceful governments one after the other. We need new blood in Parliament to look after us.
They're there to look after themselves, not us, what funny ideas you have.
Relax😂😂😂
I'm fairly confident you'll get your pension regardless. This blackmail is just basically stirring the pot!
We need people in PARLIAMENT with DECENT MORAL and BRITISH VALUES.
Rht Hons now, so many are often not hinourable and are FAILING to remember, when they swear their ' oaths ' and they take their SALARIES, EXPENSES, TWO HOME ALLOWANCES and UK MP PENSION ENTITLEMENT whom they are supposed to SERVE?
You have it a little bit now, , but it does not suit the narrative or agenda of the EU funded UK MSM to allow it!
@@janicebirch7522 we the people!
I have contributed to the state pension for 37 years, I had no choice to opt out. If the government thinks it has trouble on the streets now, just wait to the day when they float this crap. If they think that a private pension is too much, are they going to refund me my 37 years of contributions? I can’t see that happening.
They'll have spent it all !
Pensioners ain’t rioting.
The youngsters will be watching Netflix and footie………til they retire.
With interest!
Yes this will definitely go down well with the electorate, well done Labour!!!!!
Reform would win the next General Election on just this Electoral issue alone.
I have contribute to my State Pension for
over 35 years to get my full allowance.
THEY DO NOT WANT
ANY PENSIONERS
ABSOLUTELY DISGUSTING
@@thetimeisnow6822 hence the jab's.
have you not noticed the word that they say often...... depopulation
Remember Starmer's rhetoric about "working people".
Trying to freeze us to death!
@@jimmcdonald6465 The reason for flooding the Country with young illegal immigrants, but what he forgot about is they will not want to work! Oh the irony!
The state pension is not a benefit, it’s a deferred wage.
Blair re classified it as a benefit, thats why they could now means test it. Already the tories passed a law so they can look at our bank accounts without a court order
It was changed in 1990's
If there is no money for us in this country, where are the government finding the money for all the wars?
Is the country that hard up it’s always got to pick on a state pensioner to solve its money problems start looking at gold plated public sector pensions now that is massive problem or just tell the people the truth countries skint and everyone to take massive cuts
Immigrants in hotels free food free money(ours) free phone free TV free gas free electric,if they stopped all this crap they would have the money
@@melvinplant8637 Vey True And Stop all Most AID
You said there are not enough people working and therefore paying tax, but please remember a lot of pensioners also pay tax.
Correct me if I'm wrong but if you pay into the system then you should get what your entitled to . Also there doesn't seem to be a problem funding illegals and proxy wars.
Agree with you entirely. The MPs use our money to fund wars in other parts of the world and to give freebes to the illegals that come across to our country EVERY DAY . If the money had to come out of the MPs pocket they wouldn't be funding these "causes" .
It's was a Ponzi scheme. In other words theft by the Government. Labour Government is an error no one should have vote for them.
Don’t forget foreign aid, ridiculous Net Zero scam, climate change, and free medical, hospital and dental treatment and services, free accommodation, translators, legal assistance, money and many benefits, for everyone and anyone in the world, who decides to turn up on our shores too.
that is not how capitalism works, it is a system where the establishment exploits the ordinary stupid tax payers
300 million to Israel alone and more to Ukraine 300 million in over seas aid thats 1.2 billion straight off
Politicians need to stop mucking about with pensions. No incentive for me to contribute into something if theres a chance I won't get anything back
You don't get a choice, you pay 'tax' into it. The pension is only paid to people who have 'paid in' for at least 10 years and you only get the full pension if you have paid for 35 years. So if they start means-testing that is blatant thievery! Hands up if you're surprised...
@@Greebodeux isnt it law now for you and the employer to pay in past the age of 21? Just to get an extra year for every 5 alive.....so maybe 80 y/o for me
100% agre3
@@lj4339You can opt out of it, a lot of people my age don't bother with it I'm 1 of 2 People at my work that pay into it while my other 9 employees don't pay into it
@@Greebodeux when you say no incentive that implies you have a choice to pay NI or not , we don’t we have to pay it
Just because some pensioners have become wealthy over their lifetime does not give anyone the right to means test them as they have paid in with their hard earned money like myself for over fifty years! WHAT AN ABSOLUTE JOKE.Theft is supposed to be a crime.
Though NOT theft by the government.
Is tax not theft ? Every system has to have social considerations for the wider population. The pension system has to collapse at some point by the nature of demographics. This is a stop gap measure at best.
yes the more you earn the more you pay
@@chezan57 you only have 35 years of “paying in” not 50. Todays taxes pay for today’s expenses. Your contributions are not saved for you, they are used to pay out for today’s pensions. We have all been sold a lie all of our working life I’m afraid. Also, for the huge number of people who do not have the required 35 years of NI stamp they get a reduced pension. Imagine one of the main parties telling the electorate that they are no longer going to receive the state pension, they’ll never get in power again.
"Theft is supposed to be a crime". Rebadged as equity.
For 'ordinary folks' buy physical gold and silver (in the form of bullion) from an early age and hide it away until you need it in your old age. Then sell it in small amounts as you need it.
It sounds great, where would I store it?
If cbdcs come in, won't the banks disappear?
Don’t buy gold it can be confiscated by the State - Buy BITCOIN!
Note they are after the state pension NOT the really expensive index linked public sector pensions which most of us who worked in the private sector paid for.
Public pensions have 2.6 Trillion liabilities but it's strange how they are never the problem. Nothing to see here.
Who voted for the covid response, immigration invasion costs and Ukraine war subsidy. I am already paying a massive amount in local rates, income tax, premium costs for energy due to Government incompetence. Now they want to hit pensioners. Perhaps we should look at reducing the civil service. Do we need 650 M.P.s?
Do we need to spend more money on the Military.
Also I worked for 46 years paying NHI although for much of that time the Government were in net receipt of contributions puting the balance into tax spending.
All too true Very frightening , Always easier to spend (WASTE) other peoples money , and then think of new ways to get more.
I think we should all get to aportion OUR OWN taxes to whichever government fund redistribution "services" are happening. Remove MPs and civil servants entirely from the redistribution part of government.
How? Have our taxes converted to a government cryto-token with a blockchain, and we can use sliders on a webpage to set what proportion of our own earnings to send to each service. Hate the NHS, send 0%, love the NHS, send 100% if you like. And you'd be able to track your own contribution and see what it got spent on.
It also means those not paying anything in can't vote to spend money on themselves.
And before anyone chimes in saying no-one will support anyone in need, I think you'll be surprised once people are actually given the choice, but ok lets say 99% of the public don't want to spend on Ukraine, you have to ask why, in a democracy, we should be spending money on Ukraine if 99% of the population don't want it?
With you on MPs.. They are a joke. House off lords as well. .. 300 pound a day !.. I don't live on 300 s week !!
If Russia overruns Europe we would get a Russian pension of about £1200 a year
If you want to look at why the UK is in such a terrible mess, just think carefully for a few seconds. It's not Ukraine (who are fighting in part to save us all), it's not covid. It's Brexit that has trashed the economy, and continues to do so.
The Government seems to have enough money to fuel ongoing war in Ukraine and paying their pensions. I believe it is all about priorities!!!!
Money well spent
@@stuartburns8657you better be joking 🤬
@@ChrisLaw84 Not one bit
@@stuartburns8657 fool
@@ChrisLaw84 if Putin gets through Ukraine, he will walk right into Europe next. He's a psychopath who must be defeated. Don't let Farage and people like that convince you otherwise.
How can Starmer magically send UKRAINE £3BN, and take it back from pensioners and benefits.... duplicitous or what?
our country is being looted on purpose, where is it all going, just guess, its horrific.
@@colinnicholas5482 maybe they should stop the foreign aid first then the Ukraine war money.
Cos he's a rat
Starmer,like his adviser Blair are wef puppets as is our ,monarch.
The eu are part of the WEF their tentacles encompass everything,even ours and other government s
Because the government can create as much fiat money as it likes out of nothing. (Bank of England Q1 report 2014). Tax pays for nothing; it just reduces the money in the economy, just like creation increases the amount. The bond market is just a savings account. Double entry accounting, the balance sheet should add up to zero; otherwise, there is a mistake.
No, no, no, no, no! Benefits are means tested. NI payers are offered the opportunity to pay to top up partially qualifying years. It's an entitlement, not a benefit. The public purse is in deep trouble because successive governments have spent money like drunken sailors by expanding the state beyond a size that the private sector can reasonably sustain by taxation. If the government was a private enterprise they'd be in bankruptcy years ago. It's absolutely preposterous that they continually spend beyond their (taxpayers) means and put current and future taxpayers on the hook for their malpractice. It's nothing short of fraud
The idea that more people are living longer may not be borne out.
I've worked & paid into the system since I was 15 years old.
It's not a benefit it's my money.
You’ve been sold a lie, as we all have. Sorry to tell you it’s not your money, it should be but it isn’t.
There is no money pot with your name on it.
No it’s not,, it’s not even your money when you put it in the bank. It’s your money if you had bought land, gold or fine art and held onto it for retirement, like the wealthy do.
Yet we are letting hundreds of thousands in every year and supplying everything they need and want paid for by the tax payer and nobody is addressing that. These people are costing billions and billions every year. But hey let's target the British taxpayer who has paid in for decades.
Yep and then we wonder why they are looking at taking pensions away
and the problem with that is that we don't get a say, except during an election when 100 other things are lumped in. We need voting on specific issues like Brexit was. Let's actually find out what the population wants to spend on, and what it thinks is a waste.
I'm afraid that you've swallowed the propaganda in the right wing media. Immigrants want to work and contribute to society. They like their children to be well educated, which is what we need, eg doctors, dentists, etc. Stats show that immigrants contribute more than Brits, as they're young and healthy whereas we have an ageing population and very many unfilled job vacancies. The NHS is short staffed by about 100,000! Do some proper research
@@miff227 Anyone that voted for Labour or the Con's are to blame for not stopping immigration, its a globalist plan that most Mp's are very happy to support ..... Its only a matter of time untill we are as good as back in the EU..........
Yep, and the idiots go along with it, to the detriment of their own lives! Brainless
I worked for 55 years ,why then am i paying incom tax to finance illegal immigrants living in hotels with meals and heating !!!?????
Cause the British are extremely stupid!
@stuartwilliams3164 oh dear dear me Stuart. All your financial problems are because of rich men in yachts, not poor people in rubber dinghys . The same rich men who tell you what you think. But if you feel really strongly about it, why don't you organise a referendum to get the UK to stop them .
exactly, the waspi women had a bad deal, the govt ran off with £120 billion of their money, and had to work extra six years and are owed a lot of money.
i am 65 i have worked since i was 14 (part time jobs while at school) am so sick of this i am entitled to my pension am furious
Me too.52 years.
This isn't a benefit
Payed into all my life
Still working.
Still paying tax.
Never been on benefit.
So why even bother to save for a private pension. Just have the state and be done
My thoughts & millions others exactly but Peter advice seems to be have a private pension so the Government can steal your state pension. What's his next advice ? Eat yellow snow ?
They will make it compulsory to be in a pension scheme if working (probably)...
Thanks for the head's up. My father and mother warned us about this from as soon as we could sit upright. 'No one is going to take care of you, but yourselves,' they would say. Student grants and free university would go, benefits would go, and the quality of life would roll back for many people.
They focused on our education. Thanks, mum and dad, for the heads up and the head start.
Define wealthy? The state pension is only a benefit when politicians want more taxpayers money to squandered.
wealthy is having enough money to live on and a bit spare
The definition of 'wealthy' is already there under UC rules.
In this case we also know that they intend to hit property wealth including 1'st home.So that's clearly property equity taken into account.
They've also said that they want to force us out of our homes into Soviet style apartment blocks.
So that's punitive bedroom tax and an end to single persons council tax relief.
The obvious catch 22 between property equity theft and economic eviction is intentional.
@@andyf4292 Actually, that's being 'comfortable'. Being 'wealthy' means having more in passive income than outgoings, so you get richer each month whilst doing nothing at all. It's actually far easier to achieve than most realise. You just need to focus on passive income streams and only spend your capital on those until they exceed your outgoings. I focussed on reducing my outgoing in my 30s, whilst also building up passive incomes. This made it possible to achieve by 40, then, as my incomes grew I allowed myself to increase my spending/outgoings little by little, always keeping them significantly behind the income.
people whinge about tax but when it's time to retire things are different... - exactly taxes will be paying Their pensions... does anybody realize how quickly money can become worthless if war properly breaks out? ...I quote the money exchange in Trieste FEB 91; 'Dirare? NIET!!!!' ...they told me that my Yugoslav Dinars were Worthless!!!....
@@andyf4292 The purpose of a definition is to provide clarity, and your definition of 'wealthy' as having 'a bit spare' is too vague. The term 'a bit' is highly relative-what's considered 'a bit' for one person might be £10, while for another, it could be £100,000.
If you want to actually clearly label wealth in this country, it would probably be somewhere around owned asset values of £3,000,000, not working people on £150,000 salaries being taxed to high heaven.
Here is the upcoming pension means test here in the UK:
Govt: Are you alive?
Pensioner: Yes
Govt: You don't qualify. NEXT!
If you just get your "85K" back it's as if you supplied an interest free loan to the state. You could have invested the money they forced you to submit to the pension.
Thanks for bringing this to peoples attention. A lot of people will be robbed on the money they paid for a pension year after year. Disgraceful.
I know why you don't get at all why people don't have their own private pension provision: and the reason makes you slightly patronising. We are born into this world and grow to now that we work, we pay taxes and contributions, we retire, and we claim our pension. That's it in a nutshell. Most people were brought up that way and the majority of the country cannot afford to save in a pension fund even if they were motivated to do it. You clearly worked in pensions so your insight was 100x greater than the average person. Also I'm willing to bet your salary was far greater than most of the population, so you don't appreciate the difficulty that some people have in being able to contribute to a private pension.
The most sensible transition would be schools teaching lifetime finances instead of gender rules, a compulsory private pension but lower NI contributions, and a revamp of ALL pension rules to make them more accessible. I am a professional man and it took me 3 months to understand the best thing to do with my pension because there are so many arcane rules and not all companies follow them. So don't make people feel bad for not grasping pensions, that's arrogant and patronising. Don't berate, educate.
They as in the government will stitch you up no matter what. I have never had the money to build up a private pension that is worth anything so I have to work and keep working until I drop. That is the plan of this and all governments. The idea of the state pension was you paid into it for all your life and the investment was to pay for your retirement but they never intended that it should pay for you to actually retire. And of course they have been taxing all of the pensions to the absolutely limit to milk it dry since Tony Blair the psychopath was in power. The idea was to keep you poor and hungry in your retirement so that they could screw you into the ground. Once you have lived out your usefulness you are a worthless dead weight. There is no such thing as a wealthy pensioner. If you own your own home they will insist you sell it to live and if you need care you will have to do the same. They intend you to be penniless and anything you have or had will go back into government coffers. You are by far better to burn your own property and lace the ground with anthrax rather than let the bastards have it. If you have nothing then they can't take any more from you. They don't want you to leave anything to your kids as they don't get a cut from that that they think is enough. You are nothing to a politician. Just remember they are crooks one and all.
Dwarf must have everything!
All true !
@@user-xq6me6pd7q ur lucky , in 53. Haven't worked since 2011. Disabled , can't walk or drive , hsve Ms and chronic fatigue , on benefits. Do what AM I going to do when I get to retirement age
& you voted for them & allowed them to exist
So true why let them have what you've paid for along with tax born free then paying to die
Maybe labour should stop the boats, and we will save billions
@@harewood1988 🎯
Demonstrably we would save AT LEAST £8Million a day.
The West has contributed to the boats, at the very least that's what some of the boat people feel and think. It takes a lot to make that perilous journey. We have given an awful lot of money to wars. I'd rather stop wars than boats. How many useless wars have we participated in now.
The “boats” represent about 10% of immigration. It would make no difference if they stopped tomorrow!
@@hunchanchoc8418it 15 million now 😢
85k is the value paid in its not our fault that the government is incapable of investing the funds with a decent return
They dont invest the money they spend it thats why this is happening there is no pension pot.
@@keithbisho2283 Exactly
Government don't invest it. Would you want them to invest your money??
I paid in for 50 years. So much more than that £85k that he mentioned.
@@nigel-jg4dn 85k won’t even give you an income of £2k a year even if you know how to invest it optimally. If instead of paying into NI that money was invested privately you could have had a pot of around £500k , giving you around £25k a year big difference
It’s not “benefit”
It’s based on the number of years of NI contributions you’ve made. That’s not how benefits are applied.
Wow sir your definitely telling us over 50s the real true about, how the state pension will soon be fazed out in the coming months/years from today.
So means test pensions and give it to those who pay in nothing?
You wouldn't be able to get a full state pension if you haven't paid
@@RobertK-d6z I presume (hope) you're talking about in the future, because at the moment if you haven't paid in enough and you don't get the full pension, you get topped up with Pension Credit, which then opens the door for FREE rent and FREE council tax and FREE dental and eyecare and FREE tv licence.
@@RobertK-d6zthat's right, but if you claim benefits all your life, you get the national insurance stamps paid for you! Great system 👍
Yep the benefit scroungers will get full pension, the actual useful people in this country get shafted.
Hilarious
Unless civil servant public sector pensions are addressed before the state pension there will be riots.
I'm not sure why people are so anti public sector pensions. They're not really as generous as some think, particularly for those on the average wage ie the majority of workers in that sector.
I've been in the civil service for 7 years. If I continue to work there until retirement age, currently 68, I'll be lucky if I get 10k a year from my pension. I'm also paying tax NI, no extra healthcare or life insurance cover is included. The shift patterns are also ridiculous, sometimes working 8 days straight, which include early starts, main shifts, late shifts, weekends, and nights. I personally don't feel this is sustainable up until the age of 68. The wage is ok, but nothing to dance about. The only reason I stay in it, is due to the pension, but it won't be enough to sustain me should I lose out on the state pension, too.
Scrap all these multi millionaire/ billionaire compay bonuses instead, and close the tax loopholes.
Its crazy to think that they could expect us to continue to pay into the system knowing we will not receive a penny back.
you don't get a choice if you're PAYE
You can transfer to a SIPP instead of a corporate ( as in the likes of legal and general) state pension governed by an actuary
@@user-ig7cq5oi6w Mate, I've got workplace pension running at max, transferred an old Nest pension into a SIPP, which I'm topping up monthly, S&S ISA. Doing all I can, but I hate to say it, paying for the Boomers pensions today, vs receiving nothing ourselves tomorrow, stinks of unfairness for our generation yet again.
@SkeletonDrums1 a lot of people will never receive it as the age of retirement will keep going up..
😂😂😂 exactly...hence the pot will be empty to begin with
Said decades ago that the private pension will be the death of retirement pensions.
My husband died just into retirement and he paid into the full state pension for 35 years as a cleaner. Unfair I just get £4 per month contribution from his pension and I would do anything to have him alive without the money
How many pensioner's have the government killed off in care home's with there covid protocols.
Obviously not quite enough
There is a new jab coming for pensioners and pregnant women. RSV vaccine just announced. It’s apparently safe and effective.
If state pension is means tested and we don’t get reimbursed the money we have put in then what about the people that don’t work, why should they be entitled to receive something they have not put into. The end of state pension.
So are u saying that someone who worked n paid for 20-odd years who then becomes disabled age 40-ish is not entitled?
I met a 48yr old other day, upper wrkin class whole life n now jobless, made an honest mistake hurt his back n his life falling apart. Frankly cannot cope with what to me is a normal workingclass experience. He thought cos it hadnt happened to him, or his close ones it COULDNT happen to him^
We have safety nets for a fkin reason. Such things happen to anyone. There are people who start out disabled in their 20's, or even younger, shld they be euthanised? Or wld u b happy to see an increase in poverty n crime
@@kimwarburton8490 I appreciate your Point of view, but If the pension is means tested and for some reason it comes to pass that your not entitled to receive it, but then say this causes you to struggle in the last years of your life how’s that morally right. But lets say you do get back the element of the national insurance that would have gone towards your state pension including interest, as it may be illegal for the government to keep it, How could anyone else get a state pension anyway as now the government can’t maintain it as it needs people putting into it no matter how many years you have worked. Hence the end of the state pension.
@@peterhelon3815 filthy politicians need to stop throwing away taxpayer money to a corrupt president of Ukraine who is killing his own people
i knew a woman who never paid a penny in taxes all her life and got a pension at 60 with pension credit, no council tax to pay, no council rent to pay, heating benefits, free cleaner every week, and lived until mid 90s
Want to get rid off pensions and benefits because theres no money,but when it comes to immagrants its an open cheque book
The pension is not a beneFit. The government are not struggling. They have plenty money for ukraine.. Plenty money to pay the lords. We paid into national insurance for our pension.. Worked and paid.. The state took out money while working.. We were promised when we joined Euro our pension would be like France and germany. It never happened...this is my money I saved over the years through my national insurance.. To retire on a state pension. ..they need to pay enough to live on.. Simple.
suggest they STOP all for MPs and Civil Servants, counciler wage & jobs on other jobs
Funny how these gold plated civil service pensions are never unsustainable. Funny that eh .
Once means tested state pension is approved, we know straight away that every year after this at each budget, the threshold will be reduced, so more and more people every year will receive less state pension to save the government money. This is like state pension now which rises each year but your personal allowance does not, so you will soon be paying tax on your state pension.
Absolutely . Save to give it to the Government at retirement. No thanks. Cars & holidays for me.
Mortgages paid by retirement?:
Do you need to pay off a mortgage by retirement. The average house buyer will upsize as their family grows to buy a house with space for their family. When they come to retire, children have moved out. Move out of the family sized house freeing up larger houses for families trying to upsize. Your new ‘smaller’ house can then be paid off, mortgage free, with the proceeds of the sale.
State pension:
Many people were told because of a shortfall, they had to make extra contributions (one off lump sums) to their NI to be able to receive the full state pension. We did not have to do this but was advised we should. Then the government are to turn around and say we get no state pension.
@@dw2195Unless their big house is also in a decent area. My mum did up and extended her ex-council house then briefly thought about downsizing. Told her if she moved somewhere posher, she'd just end up with same house value but less space. She stayed put 🤷🏾♀️
Totally agree you are correct. I stopped going into debt (so called for credibility) I now don't have debt, no new car, always second hand and paid cash, all extra money going in to investments. You are so generous giving your time and I see you concern for strangers. God bless you.
Thank you and thanks for wathcing
That is not the debate ! It's not about what people do with their money. It's about not receiving your state pension after paying in.
They should scrap it and pay us all back the monies paid plus the " capital gains they made on it " so we can reinvest.
But they won't. They will swindle you out it and pay off their mistakes. They keep saying people are living longer, but that's a silly statement as the uk population has grown rapidly that's the issue with personal who have not paid into the system but we still get the 40 a week less state pension.
Again rip off legit paying bits. And we all stand for it.. surely it's time to take the streets like the French. We're does it end... work till dead.
Hi. First time on here. Felt compelled to make this comment. You have a fantastic skill of speech to give very clear information. I was aware of some of these details, however I am now further informed. Thank you and God bless you richly. Subscribed!
It was always a plan as soon as they started making you pay into a private pension
and they still legally forced you to pay NI. All politicians for decades did the same thing.
It is my understanding that under ECHR (European Convention of Human Rights) that the State Pensions is a "possession" which the Government can not arbitrarily confiscate. For example the Government could not confiscate your car because you are well off and give it to a poor person.
ECHR only fits when it suits the government
We badly need Reform UK to succeed in this country, and get rid of the current ruling parties forever.
Reform want healthcare to be insurance funded. Are you sure you want this?
I worked 6 years over my pension age because being born before april 1951 l was informed my state pension would be much lower than anyone born after that date. I had also after 35 years in the merchant navy, working many years away from home and in often dangerous conditions, earned a small merchant navy pension on top. A year after retiring, thinking l had enough to very modestly to live on, l was shocked to be informed by the inland revenue that almost a half of my hard earned merchant navy pension would be taken in tax. After living , quite literally ,as a member of the precariate, l still managed to save some pension towards my very uncertain old age. I am an unpaid carer also and ask nothing from no one but touch one penny more and l will be enquiring where l can buy a kalashnikov.
This has always been my argument.
A friend had all his state pension taken in tax as he contributed large sums to a Company scheme.
So in effect he was means tested by the tax threshold.
i believe u can buy one down at the local mossk
@@Porkypies6malso a pork pie hat.😅
It is not unsustainable.
How sustainable is giving banks a £10 billion tax break on profits?
Was there ever I time when the government had enough money? My memory is not good enough.
@@slayerrocks2 They want to stop providing for illegal immigrants and paying 400million to keep them in hotels they pay in nothing and get everything for free
Hold up. Brexit did not kibosh anything. Politicians in Westminster did that?
It kiboshed the investment proposition we had in the market that offered guaranteed income in retirement till death with death benefits so the pension didn't die with you
@@conversationofmoneyIt's still affecting them in France too despite being in the EU with protests and fights against raising the pension age, which is much more subsidised over there by the government.Brexit shouldn't be blamed
@@conversationofmoney I'd love to hear an explanation of that. Have you done a video on it?
@@TheWalrus-c2l Yes, I'd like to see how that was supposed to work.
@@conversationofmoney they dont invest our national insurance they spend it as soon as we pay it to them so no investment to build all that money we the tax payers need.
I have told my kids( in their 40’s) that my house is their pension.but there is no escaping taxes
The point is they categorise the pension as a "benefit" however in reality it is an entitlement because of our payments via National Insurance contributions. They have planned this forever as they knew they would eventually become unaffordable
Funny the state pension has suddenly been classified as a benefit. I have worked all my adult life and at 73 still have a part time job. I pay tax on my wages and also on my NHS pension which I paid into every month. It infuriates me that I went without other things to pay into that pension. I also saved and paid extra to pay off my mortgage. This was all so I would have a comfortable retirement without the stress of worrying about money. I was one of the WASPy
The pension is not a benefit. It is deferred payment of wages.
Same WASPI too. Already lost £47000 from the WASPI con. I started work aged 12, and was paying NI aged 14. I worked over 50 years. These people have no idea what it was like 50 years ago. I was a working class girl. Women could be legally discriminated against, sacked for being pregnant. Needed a male relative as guarantor to open a bank account. I did well through hard work and by working hard against discrimination. Now we are to be penalised? Again?
The WASPI case has nothing going for it, it was a case to preserve inequality of pension ages despite decades of notice. If anything the current system is unfair to men as women live longer
@@Mike-lb1hx youre oblivious to the higher rate of NI women paid to retire early, I take ir?
Yes taxes twice.. If worked over your pension retirement age.. Theft !
The state pension is an entitlement , it is PAID for, the Government call it a benefit so that they can control how much your paid, A Spanish full state pension is around 2,744 Euros a month, compare that to our derisory pension.
Yeah but it's unsustainable according to this guilble buffoon even though it's a pittance in comparison to other countries
@@bobandson-um1jl is the Spanish pension an unfunded liability as well??
People on a state pension don’t get free dental, free TV licence, subsidised Council tax , grants for double glazing, new boilers , handouts for cost of living - as people on pension credits get…./ so would this all be equalised if they means test ?
Yes it would
They would pay but just people on state pension only wouldn't pay
That's fair
All politicians and civil servants must also have exactly the same pension benefits as ordinary people. If we lose ours, they must lose the huge pensions they have it's as simple as that end of story
Surely this would end up in court if the government break their contract with the people.
If the state pension is a hanout can I have my fifty years of contributions back?
If we weren’t having to support the obvious, this would not be necessary .
You still can't name the "obvious" can you?
@@henryb160 illegal immigrants.
The government is bancrupt debt to GDP 150 percent wait until the banking bust by design happens they have no deals no loans and no deposits pension funds are also in real trouble
Everyone is responsible for their own financial future
@@henryb160get your cash out of your pension fund and put it in to commodities and pms
What about all those bloody layabouts who never work!
@@jaybo8136 they won't get a full state pension and will receive about £7000 per year
Well, I'm pretty sure they'll still get a state pension! Apparently, we all owe it to them, they take a back seat (some of them) and just reap the rewards of a lazy life. Benefits system too generous....
Karma has left them with only a state pension to exist on...
They will get the full state pension
My mum paid full stamp, her choice, when working from when she started working in the 1970's....when HMRC went from.analogue to digital they lost " some records"..so she only gets 80% of her state pension...when she challenged it she was asked to provide proof of her contributions from 1970-1989....whilst challenging her lack of state pension she asked for all of her contributions back..as she claimed the HMRC had taken them fraudulently..she was told no.
@@jaybo8136 I think I will still get the state pension thanks 😊
Means testing is expensive! It works out cheaper to pay it to all.
This is well documented. So why do they want to do it . Billions to be made from their cronies in the pension industry & billions to be made from the expensive AI technology that tracks bank accounts.
So should I stop saving and enjoy the money I earn?
The old people are living longer argument. No mention of the population explosion? How many over 50’s are arriving?
If you are over 50, and you arrive here, how are you going to get a state pension? Serious question, because as far as I’m aware you would have nowhere near the qualifying years of NI contributions to get one. You need 35 years of contributions to get a full state pension.
Life expectancy is dropping but that don't fit the narrative.
@@rufdymond Pension Credit currently tops up weekly income to £218.15 if you’re single. or joint weekly income to £332.95 if you have a partner. So if you get no state pension and no other income then you qualify for £218.15 per week. Probably some extra bonus too like council tax discount and help with mortgage payments or rent.
Yep excess deaths due to the "safe and effective" are through the roof
@@rufdymond they'll get pension credit
They have already made it not worthwhile to work for many - now they are making it not worthwhile to retire!
Any party bringing this in would be out at the earliest opportunity
not if hey implement right after they're voted in
Unfortunately due to 40% of the population who couldn't be bothered to vote, Labour can do whatever they like for 5yrs
@conversationofmoney people have long memories, remember who they punished for standing against the people's wishes over Brexit. Now the foolish electorate have forgiven them and will pay the price.
James
There's the thing: the earliest opportunity is four or five years away. That's a lot of time to steal our stuff.
@@JamesBoslem-fh9gr but I bet you whoever was elected after them wouldn’t reverse it ! That’s how it seems to go the uni party just take turns , people think they have a choice but they don’t
I know a lot of senior citizens who are astonished when I tell them what you have been saying and they feel very stressed at the thought of going without that ‘small amount’ that you mentioned.
I’ve been saying this for ever and have always been met with incredulity and in two cases, anger. Britain peaked a long time ago and thanks to its self-serving governments, is sinking into virtual oblivion. The real threat of private pension firms 'Doing a Runner' like the 'Saving for Christmas' Clubs, before paying out, I think is leading to 'Retirement' for the average person may mean returning to living with family or in supporting groups. Problematic to say the least😳
"Ten years fly by so quickly"
Peter is absolutely spot on. And, as he says, that means planning for your OWN future, as nobody else is going to do it for you.
You woke up today and chose unsugarcoated honesty! Good video. Well explained. Thank you.
This is how we're going to pay for the £400bn wasted on the malady. Another upward transfer of wealth.
anna
Spot-on. The biggest heist in history.
And, don't forget they have to finance the cheep, cheep flu they've already decided we are about to get. They have put a lot of effort into that old gain of function malarkey plus getting the DoD to oversee the manufacture the next round of safe and effective solutions. All has to be financed somehow.
This guys 100% over the target. Im 44 with 21 years left on my mortgage... The anxiety is real but dont stand still on this...Start investing in your future NOW!
how, when everything is a ponzi scehme and your destined to be fleeced by any platform you invest in? Ahhh precious metals thanks for reminding me
I’ll listen to this all the way through. I’ve sent it to both my boys. I am 66 years of age. I have wanted to sit down with both my sons and tell them to prepare for the future. I could not have done it any better than seeing this absolutely brilliant thank you.
So we all have to pay for this countries governments failures.
Whats new?
People do not understand that they paid NI payment to pay the pensions of the previous generation not their own.🤬
WE HAVE WORKED HARD TO PAY FOR OUR PENSION. PEOPLE WHO HAVE NOT WORKED IN THIS COUNTRY GET MORE THAN THOSE WHO HAVE WORKED. STOP PAYING SCROUNGERS.
UK the land that keeps on giving 😮😮😮
But we are skint😠
I am a WASPI woman. Robbed of over £54,000. Worked from 14 till 66. Now I have been getting my pension for only 4 years I have to watch them take it away again. I just finished paying off my mortgage. This is sickening.
Thank you for highlighting this to us all.
I get £771 a month. Not eligible for anything else.
Thank you for the warning. I need to warn my children.
So true, and so well said. I remember when I was in my 20's and 30's not ever THINKING about what I'd need for my older years! Thanks for the serious heads-up.
Where else is WEFminster to get the money for the implimentation of their Agenda?
The Labour Party do not have the slightest intention of offering any compensation to the 3.5 million women who have lost up to £50,000 by having to wait an extra six years to get their pension.
Sorry like you I have to wait 6 years to get my pension. The biggest injustice is then having to wait a further month. Because pensions are paid a month in arrears. God 6 years In arrears should be enough for anyone. On top of that we wasps have to prove we are eligible for the compensation for their incompetence. What Proof do they need. Just pay us what we are owed. But no the government is waiting for us all to die and save money.
The Labour argument that State Pensions are a "Benefit" is incorrect. It is a "Social Contract" based on payment of National Insurance contributions over many years. The British Government "Contracted" to pay Old Age Pensions for rest of life after a certain number of years of such contribution payments. National Insurance is not a tax. It is a "Contract." The legality of "non payment of Pensions should be challenged in law.
It does not matter one little bit that it is named to be a benefit. Thats just a word. The fact is the pension scheme was set up for everyone and is based on contributions over your lifetime. It is not a means tested benefit, nor should it ever be until the last contributor has died. Uk state pension is way less than most european countries. Everyone who worked and paid thier national insurance (note that word insurance), deserves to be able to claim according to thier contribution. If the government wants to inform 16 year olds that the state pension will no longer exist, then that is fair warning given to those individuals to make preparations over thier life.
I don't get, how you dont get, that the state pension is part of every individuals retirement planning.
The state pension in the UK, is one of the worst in Europe. If means testing was even mentioned in France, there would be major riots.