@AngelaMagny@hewantswealth Even if you draw down at 40%, £10k compounding for 30 years beats £6k compounding. Plus, you still get £268k completely tax-free upfront via the lump sum allowance.
More diamonds in the SIPP
@naked_auditor@Benjibontheta Public sector workers trade lower base salaries for pension security. Cut the pension to private sector minimums and you’ll have to raise wages to stop every doctor, teacher, and police officer quitting tomorrow. Also, final salary schemes were scrapped 10 years ago.
@NeilClark66 NI isn't saved in a personal vault, it pays current retirees immediately.
The NIF surplus is just an operational buffer (covers ~8 months of payouts).
Demographic aging makes compound Triple Lock growth unsustainable long-term.
@Mikey1732 So that I have social care and won’t lose my home, so that my grand children are not paying more for my state pension. Because I understand it’s not sustainable and people need to pay into a private pension and take responsibility
@KerryKxo@jonesygunner This is the point everyone is saying stop the boats. Numbers are down massively by the way and return up.
Theres no quick fix , Tories left us in a mess with hotels and not processing asylum claims.
Also it’s such a small impact on our lives relative to what’s happening
@JethrosMate1999 We should start forcing people to be more responsible like in other countries.
Retain a pension credit but no issue with winding down state pension.
Comparison of gross (incorrectly) and net to make a false point. No accounting for housing costs.
Isn’t it odd also that we tell younger people to work harder but all is forgiven when they turn 67
Maybe we should force higher contributions like in other countries
The average 22 year old in the uk lives off £32k a year. The average pensioner lives off £17k a year and the social media narrative is that all pensioners are wealthy freeloaders. Why is the government allowing this to happen?