As a Starmer critic, I’ve been pleasantly surprised by some of his most recent comments and some of the plans/decisions talked about. Last week, he was doing an Enoch Powell impersonation so it wasn’t difficult to improve. But fair is fair. I particularly liked that he apologised to the Plaid Cymru MP yesterday for his previously rude language towards her. And whilst the UK government has been complicit regards the genocide in Gaza, it was good to hear Lammy’s speech yesterday and to read today that £4,000,000 of aid is on its way over there. I also applaud the idea of taking another look at WFA. And as a remain voter, of course, any attempt to fix the disaster of Brexit gets a thumbs up from me.
The post wasn't really about martin lewis although hes been critical of the wfa and it been linked to pension credit and the threashold been so low for a long time. It was about the u turn and it's definitely not u turned because the economy is now doing well.
I’m no fan of Starmer or Rachel Reeves but like Whitey in a previous post, think credit is due when it is fair to give it. Is there political gain here? Yes. But there was only ever going to be outcry when they did it in the first place. It was done despite him knowing how unpopular it would be out of necessity. He’s not completely reversing it, he’s not changing his mind for solely personal political gain - he’s changing the line in the sand. Or looking to. It’s now a more stable economic footing. It makes sense. In a week where his government have finally stood up to the barbarities of Israel, remediated some of the Brexit costs, and in fairness generally had a good week as PM. I’m not convinced you’re right to be cynical. More to the point, though, why does it matter? So long as more pensioners who missed out but who do have genuine need for the fuel allowance get it this year, I’m not sure they’ll be bothered as to the motivation. I’d be hugely against a return to how it was before though, as the crackpot Ed Davey has suggested. Oh and I wasnt digging out your post by the way - I’m just very irritated by Martin Lewis. I find him to be a snake oil salesman.
Here's something I've never quite understood about the nature of British politics, and it's the same across all parties/governments/opposition; GOVERNMENT: Here's a policy we're going to implement. OPPOSITION: Booo! That policy's terrible, you should scrap it immediately. GOVERNMENT: After looking closely at the figures, we're going to abandon this policy. OPPOSITION: Ah-ha!! U-Turn!!!! You're not fit to govern!! Going back on policies! Boooo! Someone please make it make sense.....
I just read this… Part of the Brexit nonsense has been demolished, the extreme unpopularity of the pensioners’ winter fuel alliance cut has finally been acknowledged and Lammy has said something vaguely critical of the Netanyahu regime’ unspeakable cruelty to the Palestinians. Nowhere near enough but after a whole string of own goals a hopeful punt upfield has to be considered an improvement I guess.
I'm sure he's not squeaky clean I find him helpful though mostly to the public. His advice once help me get a few thousand i didn't know I was entitled to until I watched his programe.
I dislike Starmer with a passion for various reasons. However, on some recent issues, esp the EU agreement I think he's done better and helped the UK. He's still a shape shifter of course and I would advise anyone who suddenly thinks he's converted that they should think again. He'll twist and change some more before this parliament is out in order to keep power. I trust Kaa the snake more than Starmer.
Just think about that statement for a minute, particularly in the context of the local area. They had a school system that many got cast aside from based on 11+ exam results. Those who passed went to Grammar schools, those who didn't went to Secondary Moderns. Of the latter, the vast majority of the men were destined for careers underground and the females were either expected to be housewives or have basic career paths until the inevitable time that they became such. Thanks to the government of the time, the mining community then had that work taken away from them with nothing put in place to replace it. I'm a child of that generation, and I had access to far better opportunities than they did, thanks to the sacrifices they made. How many of us heard the line "I work down the pit so that you won't have to" as kids? Many of those my age were the first members of their family to get a university education, myself included. I don't see many of them living lives of luxury now either, so if that's the peak of having it good, then there's little hope for the rest of us.
You put it so eloquently. As a person of that generation I would have said its probably written by someone who had not lived thro those times. I was born in 46 and lived in a pit terrace house with no piped hot water, tin bath and earth midden for a toilet until 1960 and had bugger all till later in life. But I did pass my 11 plus.
Lots of those bemoaning the fact lots of pensioners are having it tough. (I do get that) Then get ready. Because lots of the younger generations are not worried about tomorrow. Live for today. And have not made any provisions for later in life. And I mean those that can afford it. Take YW. Those in the latest schemes. YW put in like for like up to a max of 10% of earnings. So if someone puts eg £300 pm (10% of 3kpm. £240net in real terms after tax relief of 20% .) In to a pension. £600 pm goes in the pot. But some I know, in their 30/40s who are strolling along with the min. 3%.. come retirement age will bemoan the fact they can't afford to retire. I'm aware that's not affordable for many. But those that can, are heading for a rude awakening.
https://www.bbc.co.uk/news/live/c3d445jl5g8t Hes going back on the winter fuel to gain some support not because the economy is doing so well. Inflation up to 3.5% highest since February last year. Hope Rachel revees can sort it although I'd have more confidence in Christopher reeves.
My dad was born in 1942, my Mum in 1946. I'd say my life has been a luxury compared to theirs, largely because they grafted and sacrificed so much to make it so. The argument probably applies better to my generation than theirs.
You're missing the weirdest bit, which is usually #3 and goes: GOVERNMENT: Yes, we can now see that it's clearly nonsense but we're going to burn up all of our political capital pursuing it until the next point anyway, thus ensuring that everybody's cross when we get to the end.
Disagree with this and feel like due to the generational difference we may not see eye to eye. I get that for your generation a pension was a safe bet and a sure thing. I'm 38 and I don't trust that by the time I'm 65 current realities will be the same. I believe the pension age will rise, triple lock will go and everything will be watered down. Also I may not live till 65. I don't pay into a pension and believe I'll be better off investing the money now instead. I have access to my funds for any opportunity I see fit, or for an emergency, rather than having them locked away.
I’m with you here. I’m 42 and have no pension pot. I’ve never been in a position where I’ve been offered one that was remotely worthwhile for one as I’ve contracted and had to use umbrella companies - but my main concerns are similar to those you describe. I work in finance. I understand the nuts and bolts, the nuance. It hasn’t ever been the right thing to do, on balance. This is only going one way. Pension age is increasing. It isn’t going down by the time I get there. Retirement age will be at least 70 by the time I get there - maybe 72 - and I have no faith that an old age pension will still be available - in its current form at least; nor do I believe the health system will be functioning well enough to be able to service an aging population. To me it is a perfect storm of working age extending and life expectancy reducing - partly due to the stresses of work being extended but mainly due to a failing health system that will have been scaled back or completely overhauled to something else within the next 20 years. I do not have the first idea how comfortable I will be financially in my advancing years. I suspect I’ll still have to work (whilst able to do so) even beyond whatever the age to qualify for a pension will be. I don’t necessarily agree with the poster who said the current oap’s have had it easier than anyone ever will. It’s the ones just coming up next that have that I’d argue. The ones who finished school after the eleven plus and tripartite system was mostly abolished, the ones say mid fifties to sixties now. That’s my mum’s generation. Her and her husband, my uncles etc - all benefited from house prices being much cheaper relative to average pay, all managed to get mortgage free houses paid for most of the length of it on one decent but hardly earth shattering salary. They had access to free university education and grants for accommodation. The relative cost of everything compared to the average wages was much lower. They could afford to only have one person in a couple work, and still have holidays and put away for a rainy day. Those born in the eighties and beyond - I was born 83 - have not had anything like those opportunities. Those approaching adulthood now - I have teen kids - I fear for them. I had much, much less chance than my parents to get ahead - but they likely have less chance than me. I have a mortgaged house - I don’t see how it’s likely my kids will achieve that the way things are going. So I don’t think those currently in their seventies and eighties had the very best of everything - but they didn’t do too badly. My grandad was a painter and decorator, never earnt much - but he bought a house on his humble pay alone and brought up four kids in it with my nanna from the early sixties onwards. They weren’t rich but they were fine on his pay as a painter, servicing a house and all the bills, bringing up four kids and god knows how many pets, on his pay. My nanna only took occasional part time work on the market or pulling pints at the dog track to pay for luxuries - maybe holidays, to get herself some pocket money for cigs and bingo - or at one point to buy my uncle a car for his 18th. A brand new Ford cortina! Those four kids are all homeowners and are now mortgage free - the youngest is 53 years of age. None of them have hugely paid jobs or ever did. My auntie walks dogs and pet sits, she used to work in factories etc. What house could somebody buy now on one salary? Even a decent salary? Not a prayer. Someone working full time, not necessarily minimum wage - maybe a bit more - they probably couldn’t afford to live in a small rented flat and be able to buy food, pay all the bills and clothe themselves. Basics. Never mind a pint on the weekend or a week in Spain now and again. Meanwhile my nanna, who I love dearly and will protect to the end of the earth, has never had a full time job, never paid into a pension, but did have a husband who worked a manual job until he retired at 65; he’s no longer with us. When he died she sold the family house to realise her dream of living her old age in a nice bungalow. She has one; decent ish size, 2 bedrooms, nice gardens, worth c£300k, maybe more. Has pots of shares and savings all over the shop. She is very financially comfortable and that is great. The chances of me experiencing similar in 40 years are slim to zero. My mum and step-dad’s house is probably worth half a million; 4 bedroom detached, stone built, secluded estate, nice area backing onto green belt farmland. My mum hasn’t had a proper job for twenty years; she does care for my nanna a couple of hours per day these days but she’s been out of the working life since she was younger than I am now. They’re sixty. Step-dad still works - I doubt he particularly needs to but he’s in electronics engineering research so isn’t doing backbreaking stuff. Thanks to his engineering degree he got without accruing a penny of debt. Not had a mortgage for five years - and even then it was extended to that point so they could whack a massive extension on the back and get a big open plan kitchen diner; it’d have been nearly a decade if not. I’ll be clear - I’m not whinging. You play the cards you are dealt. I’m very pleased that my mother and grandmother have such security - without actually doing anything special or planning much in advance to achieve it. My step dad had never owned a house before the age of 39. But I don’t begrudge any of them anything. But it is a statement of fact, not an opinion, that in real and relative terms those born from probably the late seventies onwards have had much more difficult circumstances to navigate. House price rises have exceeded wage increases at an alarming rate. As have the cost of utilities, food bills, basic living. It hasn’t made it impossible - but I look at my family and see the difference. I am fortunate, I was pretty academic so am decently educated, I earn decent though not brilliant money. My wife works full time too. We work hard for all we have - which is a mortgaged three bed semi former pit house in Scawthorpe, two used cars on the drive, and three well looked after kids who we are trying our best to put something aside for. Whatever we get for them won’t give them much in real terms but we’ve done our very best. We bought our house in 2008 just before the housing crash; 17 years later it’s just about worth more than we paid for it. Six months after we’d bought it, it had lost probably 40% of its value; maybe half. If we’d had to sell up, we’d have ended up homeless with a £70k debt to try and pay. And it isn’t getting any easier. The cost of everything is exorbitant. My lad pays £70 for a two hour driving lesson. He earns just over £7 an hour part time at dominos; he’s doing his a levels at school. Ten hours a week is just to pay for a driving lesson. (We help him don’t get me wrong - but it’s shocking: it really is. Not being able to drive would restrict his choices when he’s older). I won’t accept criticism for not having a pension and I can’t blame anyone of my generation or younger for not putting aside. The chances are they can’t afford to, or that if they did it would be a waste of time as whatever they accrue wouldn’t give them anything of worth anyway; so they’ll have to work regardless.
My pensions are different to the example i gave. I had 5 b4 I put em into the same pot. Varying contributions. Final salary/Stakeholder. So for my example do you not think for every £2400pa you contribute. And £6000 goes into the pot that's not wise. I'm fully aware of the state pension age will rise. People are living longer. Over 30 yrs even if wages don't rise. And inflation/stockmarket didn't rise. For a personal investment of £72k would mean a pot worth £180k. You choose to invest how you wish. But every penny is your own contribution. and subject to the same risks as company pensions. Final salary pensions are not fully the norm as in the past. (40/60ths max of final salary at one time some companies differ. One of mine was 80ths) I made it quite clear it's not affordable for all. You say you can do what you want and withdraw at any time whenever you want. Fine but if you do that you may never retire. Cos state pensions will not give you the lifestyle you would probably want. In my case. When I croak it. Every single penny goes to my Mrs. And when we both croak it, it goes to the kids. Tax free if both by 75. I can if I so wished take every penny now. But it would be subject to the same tax as anyone else. Based on personal allowance. My thoughts are not generational as you seem to think. But common sense For those in company schemes. Pensions are now fully regulated. And are generally safe, You may not have the opportunity of a company contribution pension..I've no idea. But anyone who has, should imo seriously take financial advice. Defined benefit/final salary. Stakeholder. Annuity or drawdown (the latter mine)
