How about a 20% VAT?
Yeah, that's a glorious idea.
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trubrit wrote:BobHelm wrote:State Pension age is 65 for men born on or before 5 April 1959 and 60 for women born on or before 5 April 1950.
State Pension age for women born on or after 6 April 1950, but before 6 April 1955, is rising from 60 to 65 between 2010 and 2020.
State Pension age for women born on or after 6 April 1955, but before 6 April 1959, is 65.
State Pension age will increase for both men and women from age 65 to 68 between 2024 and 2046.
http://www.direct.gov.uk/en/Pensionsand ... /index.htm
Well of course though this might save the govt money from paying pensions it has a knock on effect of increasing the pool of people seeking work. Not all will be able to continue with their current job as a lot of employers are notoriously age discriminatory. against which there is no legislation as there is with gender, colour and various other no no's .This will mean a massive transfer of people from being pensioners to being unemployed or claiming sickness benefit. So its difficult to see where the financial advantage is to the govt. You are also at the same time , increasing the labour pool, making less jobs available to younger applicants .
One thing not often mentioned, is that a lot of benefits are age related, prescription charges for example . with the increase in the age of retirement, your entitlement to these will be delayed until reaching the new retirement age. So a double whammy at what is possibly the most vulnerable time of your life .
I find it incredible that the law compels private pension providers to maintain enough contributions to ensure paying all contributors,whilst the govt collects money from us, on the pretext of paying for our pension and promptly puts that money in the general taxation pot to pay current spending on defence and a multitude of other things .Effectively meaning they can only honour their pension commitments from the contributions of those still working .Our money , paid in over the years has gone .All hell would break loose if that was a private company .
) Then, when you're 70, your pension will kick in -- setting you on the road to freedom in Amazing Thailand -- Land of Smiles. has given way to a generation of bitter, spiteful people who either want to run away and have nothing to do with it,
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