Someone who isnt on UC for eg. Say someone on 25k a year.
Autumn Budget 2022
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Soldato
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Indeed. No disrespect to pensioners, but most are mortgage free and insulated from interest rate rises. Infact, those with savings are better off. They also get increased support with energy bills already.
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It makes me wonder if shoving spare cash into my pension will be worth it by the time I get to retirement age.
What annoys me is our age group are the ones earning money and the ones that could stimulate the economy.
That said when I retire I'd like to not have to worry about money either. It's impossibly hard to know what to do that benefits everyone.
My dad is 92, and has a couple of smaller private pensions, mortgage free, and getting some extra support payments, hes not suffering that much from everything going on. I would have said about 5% would have been enough to keep him level with money.
No government can afford to annoy pensioners, that's their key voters.
Its impossible to plan for your future in UK.
Is it even worth my time being mortgage free (main aim) as you'll have an estate and may get no pension.
So do you just life for the moment and trust the state to pick up after you when retired?
I guess if people figured that not saving was best choice government would really. Be screwed as people would just bum around and there would be no reason to achieve while working.
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Tbh with what my private pension is worth I probably shouldn't have bothered, and just gone for all the benefits instead.
I'm half joking, but for a lot of people not earning a fortune there has to be a tipping point where it's just not worth it anymore.
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Tbh with what my private pension is worth I probably shouldn't have bothered, and just gone for all the benefits instead.
I'm half joking, but for a lot of people not earning a fortune there has to be a tipping point where it's just not worth it anymore.
I'm fortunate that I'm earning a reasonable wage. But just me. My wife is on just about the minimum so we'll be surviving off my pension and the state pension. And whatever little pensions she had before becoming a mother and kissing her career goodbye (out of choice ).
The pressure on my shoulders really does get to me.
Does make me wonder if I should return to Europe or further afield.
Tbh with what my private pension is worth I probably shouldn't have bothered, and just gone for all the benefits instead.
I'm half joking, but for a lot of people not earning a fortune there has to be a tipping point where it's just not worth it anymore.
Yeah I have to say I do wonder for us if it's worth even bothering to be fiscally responsible for it to be a fruitless endeavour.
We will never be wealthy. Very much that middle ground. If in future you only get pensions/public health care if you have nothing, we would soon burn through any assets we had and end up there anyway.
A modest pension and a decent paid off mortgage is (I expect) what we might achieve
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Not having any private pension or assets would be very scary at retirement, living on state pension isn't easy unless you were used to earning well below average throughout your entire life in which case it might be ok. For some people it isn't a choice anymore, they cant actually afford to pay into a pension anyway.Tbh with what my private pension is worth I probably shouldn't have bothered, and just gone for all the benefits instead.
I'm half joking, but for a lot of people not earning a fortune there has to be a tipping point where it's just not worth it anymore.
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The other issue with us having less money in our retirement is less money to pass down in inheritance which will cause knock on effects for the next generations buying power - especially houses.
Luckily I don’t have nor want kids, so I’ll spend all my money on me but certainly think this can cause problems.
Luckily I don’t have nor want kids, so I’ll spend all my money on me but certainly think this can cause problems.
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Like many I don’t get why they need to wait so long.
Similar situation here. Not sure I’d want to bring kids into this mess.
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So glad I don't have that burden. Or I'm a burden to pass to my kids.
Not a chance I'd end up with half what could having to fund raising kids. Sad state that.
Especially when electric cars are still very much a benefit for the more well off.
"Road tax" should be a separate tax to emissions tax imo
Caporegime
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Why is it crazy to help the most vulnerable?
The 'most vulnerable' are already getting inflation benefit rises, why do they need another £900 bung as well? As usual the working middle absolutely shafted.
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Surely a medditeranean country would be ideal, nice weather, much cheaper CoL and a pension would go much further...
I do feel that the budget is against those who work. No doubt we will be seeing minimum increases to public sector pay and pressure for the private sector to not exceed it either. So if you work, you will get poorer.