£25 a week extra on my state pension

Soldato
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They already are scrapping National Insurance and increasing Income Tax.
Step 1 - Align the brackets [done]
Step 2 - Reduce National Insurance, increase Income Tax via fiscal drag <-- you are here
Step 3 - NI rate becomes zero and is scrapped + something happens to State Pension as NI years/stamps are no longer a thing

Edit: I think we probably end up with a single rate of income tax too.
Simplifying the system wouldn't be a bad thing.

If NI gets scrapped it doesn't matter, its just a tax and there is no specific pension pot held by the government so it doesn't matter how the tax is raised.
 
Soldato
Joined
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5 degrees starboard
Actually in that article it is largely people who appear to have given up work before their entitlement to a state pension was due. So maybe a bit of lazyitis compounded by their savings being spent unwisely.
 
Soldato
Joined
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6,863
Actually in that article it is largely people who appear to have given up work before their entitlement to a state pension was due. So maybe a bit of lazyitis compounded by their savings being spent unwisely.
i have to admit, since starting work after uni my goal has always been to retire at 60 (earlier would be nice but not realistic for me). i do hope to make sure i have a strong enough bridge to take me through to my different pensions paying out however. (1 pays at 60 but this alone wont be enough, 1 at 65 and my state one at (hopefully) 68).

is that lazy? perhaps.......... but men on one side of my family do not have a good track record, and kick the bucket pretty young, so i am not counting my chickens on an old age. (the other side of the family does ok however so maybe i will go that way)

I am not ashamed to say i work to live........... i do not live to work.
It is one of the reasons i sort of have buyers remorse buying a nice car. it is fantastic dont get me wrong, but i could have kept my £4k dirty old diesel and the money i put in the car represents over a year of me not having to work.
 
Last edited:
Soldato
Joined
1 Mar 2010
Posts
14,375
Location
5 degrees starboard
i have to admit, since starting work after uni my goal has always been to retire at 60 (earlier would be nice but not realistic for me). i do hope to make sure i have a strong enough bridge to take me through to my different pensions paying out however. (1 pays at 60 but this alone wont be enough, 1 at 65 and my state one at (hopefully) 68).

is that lazy? perhaps.......... but men on one side of my family do not have a good track record, and kick the bucket pretty young, so i am not counting my chickens on an old age. (the other side of the family does ok however so maybe i will go that way)

I am not ashamed to say i work to live........... i do not live to work.
It is one of the reasons i sort of have buyers remorse buying a nice car. it is fantastic dont get me wrong, but i could have kept my £4k dirty old diesel and the money i put in the car represents over a year of me not having to work.

Yes, I took one at 60 but I calculated that even paying 40% tax on it, the remainder was better in my pocket. I may gave been wrong but at 71 I have had eleven years of it now. Probably Putins war and knock on fuel prices and inflation did upset a few calculations of affordability to retire early but events need allowing for when making seismic decisions like giving up work.
 
Soldato
Joined
18 Oct 2002
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10,229
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7th Level of Hell...
Should have planned ahead better.

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