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| 41. Author: Luxembourg Par Date: Mon 9th Sep 2024. 09:05 Andrew283, Sun 8 Sep 00:35 Means test the pension? So some old boy who pays his National Insurance for 40 years whilst also saving a bit for his later years gets penalised, while all the feckless who paid little or nothing get a full pension? Get in the sea yersel’. A pension is an ENTITLEMENT, not a benefit.  Reply |
| 42. Author: The One Who Knocks Date: Mon 9th Sep 2024. 12:08 All benefits are entitlements. You are either entitled to it or you`re not. Your national insurance contributions weren`t going into a pot to specifically pay your pension. It`s the workers of the present that pay the taxes that pay for today`s pensions. And although my eyes were open They just might as well be closed Reply |
| 43. Author: jake89 Date: Mon 9th Sep 2024. 12:41 Pension is a benefit regardless of what people might think. The solution for the working person is to have a separate pension pot. That`s how they benefit from having worked when they reach old age. Private pensions used to be seen as a far more optional thing but that`s no longer the case. If you want to keep all your money or not work then you get a basic pension. If you work and put money aside then you should get that basic pension plus too. Reply |
| 44. Author: ipswichpar Date: Mon 9th Sep 2024. 13:12 There`s a well established process that if you pay in, you`ll get back. Putting too much assessment around the entire population is mental. And if someone earned enough for this to be at risk, why do you expect them to pay in. Everyone should get a pension payment from the government. The issue is (a) how much do they pay in and (b) how much do they get out. I think the pension reform was way too late, and too little which has put us in this position. Reply |
| 45. Author: Luxembourg Par Date: Mon 9th Sep 2024. 14:50 ipswichpar, Mon 9 Sep 13:12 Exactly. What would happen if someone is putting away enough that they are guaranteed to be above the ‘test’ limit and they will get no pension ‘benefit’? Would they be justified in refusing to contribute? In Lux, one’s pension is determined by both the number of years of contributions AND the actual amount contributed. There is a base pension, but higher contributors get a higher pension. There is in addition, a weird (but logical) scenario, if you work and pay contributions for less than 10 years, you are not entitled to a pension, but can, on leaving the country (and signing that you waive any future pension rights) request a REFUND of all pension contributions paid! (Pension is also pro-rated, working 40 years gets a full pension, working 30 years gets 75%, 20 years gets 50% etc) Reply |
| 46. Author: desparado Date: Mon 9th Sep 2024. 15:05 Topic Originator: jake89 Date: Fri 6 Sep 13:51 SG can underspend but isn`t supposed to overspend. It also doesn`t know how much money it will receive from central government as that is under the control of Westminster. As a result of a lower than expected "grant", it appears we`ll be back to council TV as the Netflix is getting cancelled. My personal view on tax is that people should be happy to pay more to get good services. Unfortunately, we don`t receive them. My understanding is a big issue is paying interest on legacy debts. That means a tonne of your tax goes to paying the interest on the credit card. Every person in Fife has the equivalent of £3000 or council debt Scot gov can’t overspend as it is legally obliged not to…apparently. Scot gov does have very limited borrowing powers….£400 million I think, not enough to scratch the surface. Councils have massive debts because of mis management, waste and of course Labour saddling them/us with billions of pounds of debt due to their PFI contracts. It is astonishing that people have voted Labour again after the damage they have caused and will cause in this next Parliament. Red Tory/ Blue Tory……get the same, cronyism, corruption, incompetence, fiscal mismanagement, lies,deflection But at least we know that they have Scotland and the Scottish peoples best interests at heart…….lol What an opportunity we missed in 2014. Reply |
| 47. Author: jake89 Date: Mon 9th Sep 2024. 19:05 The interesting thing in Dunfermline will be that two of the four high schools will have their PFI lease coming up soon. What state are these schools in and what happens at the end when it`s passed to the council? Reply |
| 48. Author: desparado Date: Mon 9th Sep 2024. 21:09 Red Tories have just found an additional £ 5.5 Billion for Sizewell C ….and that’s just to conclude the FID. Add the Billions more for Hinkley point and that’s a large sum of money that Scottish tax payers will contribute to but receive no benefit from at all. Neither wonder we are skint… Scotland is completely self sufficient with regards to energy production but due to WM incompetence we are paying through the nose for nuclear power stations we don’t need…..and for the privilege of sending vast quantities of electricity south to power English homes. Edit. It’s not incompetence it’s robbery… What an opportunity we missed in 2014. Reply |
| 49. Author: ipswichpar Date: Mon 9th Sep 2024. 21:34 Thinking about taking McGlashan back to the 1600s and stopping it going wrong? Reply |
| 50. Author: LochgellyAlbert Date: Tue 10th Sep 2024. 09:03 And how much for the new Thames crossing? Reply |
| 51. Author: McCaig`s Tower Date: Wed 11th Sep 2024. 21:29 Presumably there would be Barnett consequentials from spending on things like Nuclear reactors and bridges? And what should be done with any surplus electricity generated? There’s a limit to how much can be stored – isn’t it better to sell it to someone who may need it? As for pensions, given the so-called demographic time-bomb, where the number of pensioners is increasing due to improved life expectancy and the number of workers able to pay taxes to provide State Pensions for those pensioners is reducing relatively, shouldn’t something be done, otherwise it becomes unaffordable? And hasn’t the “lowest pension in Europe/the World/ the Universe” argument been debunked? Reply |
| 52. Author: LochgellyAlbert Date: Wed 11th Sep 2024. 23:10 [url]https://www.almondfinancial.co.uk/pension-breakeven-index-how-does-the-uk-state-pension-compare-to-the-rest-of-europe/[/url] Reply |
| 53. Author: wee eck Date: Wed 11th Sep 2024. 23:59 It`s hard to believe that Germany and Italy aren`t in the top 30 with regard to state pension provision. Reply |
| 54. Author: The One Who Knocks Date: Thu 12th Sep 2024. 10:46 Yeah Wee Eck not sure I believe that table. If true though kudos to LA for posting an article which disproves his assertion that UK pensions are the worst in Europe. And although my eyes were open They just might as well be closed Reply |
| 55. Author: wee eck Date: Thu 12th Sep 2024. 11:50 They`re nothing to be proud of. Reply |
| 56. Author: The One Who Knocks Date: Thu 12th Sep 2024. 12:01 Never said they were just they aren`t nowhere near the worst if that article is accurate. And although my eyes were open They just might as well be closed Reply |
| 57. Author: wee eck Date: Thu 12th Sep 2024. 12:08 I didn`t say you did! Reply |
| 58. Author: LochgellyAlbert Date: Fri 13th Sep 2024. 16:41 So the 5 million levelling up money that Dunfermline was to get, may or may not happen, they must really hate Scotland!🤔 Post Edited (Fri 13 Sep 16:41) Reply |
| 59. Author: ipswichpar Date: Fri 13th Sep 2024. 17:15 It`ll be harder now that Gove isn`t there to lecture on the workings of the Barnett Formula! Reply |
| 60. Author: hurricane_jimmy Date: Sun 22nd Sep 2024. 08:02 This thread is quite interesting for me having lived in a few different countries and under different tax regimes. For me, the UK is operating a failed economic model which is based in Neo-Liberal ideology. Basically: low tax + low wages + low investment. Essentially this is why the UK has long been considered the "Sick Man of Europe". It`s basically geared up for the majority of people to stagnate, while the rich get richer. In Scotland, I`d say people get a fairly decent deal for their tax with Healthcare, Higher Education, Elderly care etc all covered by taxation. I must admit, having worked in England, I will never understand how they accept how bad a deal they get - for me their apathy is a big reason Scotland should go it alone. In Sweden, I paid 24% tax total and got a far better deal than the UK. Many claim that folk actually pay a lot more in tax, but it is actually paid by the employer. The Scandinavian countries mostly have a universalist taxation system and basically everyone pays the same rates, regardless of salary - that basically ensures cross partisan political support for things like healthcare, free education etc and these are basically never questioned. They have also ensured that wages for unskilled job are at a liveable level, which can`t be said of the UK. There is really no reasonable argument that the UK could not replicate this system, especially considering the vast difference in resources. Here in Hong Kong, much of the government revenue comes from land rental - essentially companies and private individuals have to pay the government a land tax - this is similar to a number of Asian countries such as Japan and Thailand. My income tax is 2% for the first 50k HKD and 5% for the second 50k HKD, which is ridiculously low and often I end up not paying anything because of the various deductions. I still get healthcare, can register children in school etc and tuition fees for University for them would be quite low. Obviously, things are not great economically or politically in HK just now but this model has been in place for years and works well. It just goes to show that the UK Government could choose to do things differently, but they never will because they`re only interested in making the rich richer. Reply |
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