TOT Electric cars will be cheaper to run

[bert]

It is a tax specifically for certain benefits available to those of working age initially as an insurance against being unemployed temporarily.

[Dave Plowman (News]

Affordable? What can and can't be afforded depends on priorities. And the priority in this country seems to have been recently to make sure the rich get even richer, at the expense of the poorer.

But if you're happy with that, fine. I'm alright jack. It is simply not my problem now. Up to those who still have most of their life ahead of them to be worried or not.

[Dave Plowman (News]

It seems to be doing nicely here. So this scheme is obviously viable. As it should be given how much my employer and myself contributed into it.

[Dave Plowman (News]

Just to be clear bert. You think the state pension on its own should be sufficient for everyone?

[Andy Burns]

Why have they changed from a DB to a DC scheme then?

[Tim Streater]

A typically short-sighted socialist I'm-all-right-Jack approach.

[Max Demian]

Well, I think it should provide the basic necessities of life, including housing. It shouldn't require the addition of an occupational pension, which most don't have, or a private pension, which hasn't been encouraged until comparatively recently.

[bert]

In article [e-mail]>, "Dave Plowman (News)" [e-mail]> writes

It should keep everyone out of poverty, so that older people don't have to make the heat or eat decision. But it's taxable income so much is clawed back from the better off, much more effectively and cheaply than means testing.

[bert]

In article [e-mail]>, "Dave Plowman (News)" [e-mail]> writes

The income gap is largely driven by our fixation on %age increases much beloved by the unions

[bert]

In article [e-mail]>, "Dave Plowman (News)" [e-mail]> writes

And your employer was?

[Sam Block]

bert [e-mail]> wrote

Nope, because even those on the highest income tax rate don't pay most of back in income tax and the better off who have retired can ensure that most of their income isn't income in a tax sense.

That's wrong too because with means testing they don't get any state pension at all.

[The Natural Philosopher]

No one gets their state pension removed.

[Sam Block]

When the state pension is MEANS TESTED, they don?t get it in the first place. `

[The Natural Philosopher]

But the state pension isn't means tested

[Tim Streater]

That's because it isn't means tested. Except via the income tax mechanism.

[The Natural Philosopher]

Its a moot point as to whether the pension causes other income to be taxed or vice versa though

[alan_m]

Yes Labour did a lot to persuade people that saving for a pension wasn't worth it. Wasn't it Gordon Brown who dipped his hands into pensions to extract billions?

You also seem to make the assumption that all pensions were a "freebie". I paid around 15% of my gross salary into my company and additional pensions. Yes, the companies did pay into my pension(s) but they did also take a pension holiday during the good years for investments.

I will agree that final salary pensions have disappeared and replaced by money purchase but a lot of companies will still pay into YOUR pension pot as well.

I don't think that not saving for a pension has ever been a government (of any party) policy.

[alan_m]

Its not as simple of paying everyone an increased pension

There are a raft of other (means tested) benefits that those with additional pensions or investments/savings are excluded from claiming.

Its very much a socialist policy by taking from the more well off pensioners with income tax and giving to those less well off.

[alan_m]

Which priorities do you suggest that are more important, staying in business, providing work or paying lower salaries? Or maybe you consider they should pay lower dividends to their shareholders? Often pension funds are some of the largest investor in reciept of these dividends.

Yes, there was "theft" from pension funds etc. but that was around 3 decades ago. Many companies have, and still are, honouring past final salary payments schemes but in general have now changed for future pension provisions to money purchase not based on final salary.

[alan_m]

But is you employer still operating exactly the same scheme?