Hermit Road
10:46 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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This is only going to contribute to the pension crisis because it is a disincentive to save.
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Mike Oxsaw
10:48 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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"Many subjects are struggling to attract teachers and this is hardly going to help."
The very LAST thing a government actually wants, rather that just saying what it wants to keep people quiet, is a general population educated enough to work out what they're really up to.
This simply supports that strategy via the "Actions speak louder than words" principle.
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ManorParkHammer
10:53 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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Do you look like Peter Hitchens, Hermit!
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ManorParkHammer
10:53 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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? Rather than !
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SurfaceAgentX2Zero
10:57 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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The Dursley Massive 10:44 Sun Oct 11
Where does the 'Teaching Pension Pot' get its funding from, mate?
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Hermit Road
11:14 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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Surface. I'm gebuinely surprised you agree with this.
Manor, not massively.
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Mad Dog
11:24 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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Surface. I'd suggest the vast majority comes from teacher contribution each month
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WHOicidal Maniac
11:25 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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So when they came in and cut Housing benefits and Council Tax relief, You said nothing because it didnt affect you.
Then they came for the Tax Credits but that didnt affect you either so you said nothing.
Now they are coming for pensions..This affects you, now you are starting to talk about it.
Where were you when other people were getting Dicked and you said it was probably justified ?...
These people will fuck anyone over in any way they can if they can make a few quid and not dip out themselves...What makes you so special?
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13 Brentford Rd
11:32 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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Public sector workers have had a pay freeze for the last 5 years whilst their workload has increased.
In real terms public sector wages have decreased massively.
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riosleftsock
11:32 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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This should not be a surprise.
Due to demographic changes, pensions have been crying out for reform for decades.
The private sector has largely got its pension house in order. Part by legislation and part by its own realisation that the defined benefit pensions were unaffordable.
Pensions for public sector workers should be part of remuneration and not a deferred liability. Give the staff the right salary and let them buy their own retirement plan.
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Mike Oxsaw
11:36 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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What many people don't seem, or want to, realise is that a pension is an integral part of pay for employment done.
To get a better idea as to whether a pension is a "gold pot" or other such decisive emotional nonsense, you have to look at the full lifetime package.
If an employer agrees by contract to pay into the pot, say, 3 pounds for every one pound the employee contributes, that's as much a part of the salary as the wad of cash that appears in the bank each month instantly ready to spend.
The only difference with a pension is that the ability to spend is defered until the actual contracted WORK is done: the employment may be over, but the contract remains in place until the terms of pension payment are fulfilled.
More people living longer has somewhat skewed the original model, and there should be no issue with rolling out new terms to reflect that change.
Stripping a pension to cover the nations daily operating costs, however, is simply wrong on so many levels. Once the government have spunked that money away as only governments can, it's lost forever and cannot be used for it's original intended purpose.
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riosleftsock
11:38 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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Mike
All well and good if the employer has been accruing for the deferred payments and not just washing their hands and leaving it to somebody else to sort out.
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Mad Dog
11:54 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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WHOICIDAL. I don't agree with the tax credit cuts either.
Those on the bottom rung who are trying to earn a living are the ones that should be protected most.
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Hermit Road
12:38 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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Pensions needed reform. They have been reformed twice in the last 15 years. The last time was 5 years ago. At that time Osborne and Cameron said that that was it, they were now sorted for decades to come.
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SurfaceAgentX2Zero
12:41 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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Hermit Road 10:31 Sun Oct 11
'The government he is proposing to raise taxes on millions of people paying into a certain type of pension. The disadvantages of this include the above, and the fact that recruitment and retention in key areas will be severely affected as Mad Dog has pointed out. '
Not so. Ignoring the obscene tax-avoidance pension arrangements negotiated by some very well-paid individuals, whom nobody will be bothered by taxing more, the pensions available to public sector employees will still be far better than anything available in the public sector.
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Mike Oxsaw
12:41 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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Or, sock, the government relying entirely on economic growth to fund future pension payments then killing off the ability for the country to grow at an adequate rate (mainly by applying short-term, vote-catching policies).
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Hermit Road
12:49 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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This can't be about public sector pension reform because just over 5 years ago the government were sure that that wouldn't need reforming again for decades. This is about a tax hike. It is about a government saying that they want to take more money from individuals than they currently do.
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riosleftsock
12:53 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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Mike - I agree.
I have no real issue with what pensions people get, just how they are funded.
Personally, I would start by changing MP's defined benefit scheme to a defined contribution/money purchase scheme.
If this doesn't give them a high enough retirement pot, they can invest their own money to bring its value up.
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Billy Blagg
12:58 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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If you're self-employed or have a small limited company then you'll know that pensions Is just one of a number of tax hikes due in. Having spent the last nine months fighting the PIP disability battle, this is just another thin edge of another wedge. The fact is this Govt. are very strong and looking like they can get stronger. They can do what the hell they like.
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riosleftsock
1:02 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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I would personally reform the state pension as well.
At the moment, the government takes your pension contribution (NIC/PAYE) and instead of investing it, they pay the pensions of today's pensioners.
This is fine when there more people working than taking state pension, but the government have known for decades that the demographic is changing.
The PAYE/NIC element that is your pension contribution should be ring-fenced and invested and it should be beyond the grasp of the chancellor.
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Hammer and Pickle
1:12 Sun Oct 11
Re: Conservative government plan massive tax hike on pensions.
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Can't really see a way forward for the whole pension system without a constant supply of cheap migrant labour while native birth rates remain flat.
Either that or we learn to live without money and property and let robots do all the work.
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