In fact, they don’t think it goes far enough!
All the Guardian readers who laughed at my posts on pensions have gone silent recently. They thought I was making it up.
They can’t rely on food banks either.
They abandoned their families, divorced their spouses and said they didn’t need the Church.
Comment “The stark truth is that no matter where people look to invest their pensions, they are (in essence) investing into the generations that follow.
In effect lending them money so to ensure that those generations will take care of them in the future.
In this sense it is not unlike a pyramid scheme and powered entirely by debt.
2008 wasn’t simply another financial crash or banking crisis. It was a total systemic failure where the unthinkable happened (which is why none of the economists, bankers or poiticiains saw it coming): All the banks in the world simultaneously ran out of money.
This is why in some circles 2008 is know as “A debt saturation point”.
In more simple terms, the income demands of the top third of the pyramid overcame the ability of the bottom two thirds to deliver it – and it began to collapse.”
People are retiring for decades. National debt goes up. Student loans go up. Wages are down thanks to immigration. Property is expensive thanks to same, over half the average wage. This cannot continue.
If it’s a public fund, you can’t trust it will be there. Pensions are not savings, as savings always go up in nominal value and they are privately owned (personal control). You save money to put IN to a pension, the pension is not saving but investment i.e. it can go down too.
Comment “Pensions are a con. You can save all your life, and then someone pillages the fund and takes it all away from you.”
The people childless and happy, as they told us, also want to parasite off their own generation too.
Most of them don’t ‘save’ enough to cover a 1/6 of what they’ll be ‘entitled’ to.
Comment “The issue of having any form of assets and then being required to fund care does raise the slightly thorny issue of responsibility and planning though.
If one person were to carefully save, spending less on holidays and TV packages, then another person were to say “stuff that” and not bother, then person A ends up funding the costs not only for themselves but also person B (who can be in the same care home, in the room next door, with the council paying). So, where is the incentive to plan and save?”
No! You mean? Those mean conservatives have reasons?
They aren’t making policy …to be mean?
The middle ground classic liberals are finally getting it. When you align with people who parasite, they won’t stop for you. And what about the lack of trained people working in those places? Immigrants can’t do it, the NHS has scandals about undertrained staff. The IQ drop from inbred fertility in certain groups and foreigners from the EU taking University places mean we’ll have even more shortages in future.
Singapore has a better system, comment “The concept is that everybody effectively holds a government account, in which they accrue funds for their retirement, healthcare, housing, etc that come from payroll tax.
Private systems work better. Personally accountable? Private works better. No admin. Look at French healthcare. Private. Best in EU.
The government pension is therefore “fully funded”, removing the constant nibbling away at the economic prospects of the younger generations, by the baby boomers who are in power, and the pensioners who carry such clout as a voting bloc.
If we carry on with a system we have, where todays pensioners are being funded by todays taxpayers who have rapidly diminishing prospects as a consequence, the system will fail. “
Leave the world better than you found it. If you took inheritance, you should pass that on and more. Yet these people, already given everything and then voting in new stuff to get, are spending their inheritances too.
Spot the r-type, comment
“The LibDem Pensions Minister in the coalition,said he was quite happy for people to draw their pension money early and buy expensive Lamborghinis or whatever,never factoring in future care costs.This was reckless and should count as divestment if people knowingly spent up,expecting the taxpayer to step in and meet their future care costs.”
Oh, now they want people to be held responsible. When they lose out.
And Millennials/Gen Z/the hereafter?
“Caroline Abrahams, the charity director at Age UK, pointed out that 1.6 million older people live in poverty in the UK.”
They had decades to save. They spent it. Pathos, seriously?
Their families abandoned them. Who raised the families?
““In fact, you could say it is all the more important for young people to know they have a reasonable state pension to look forward to, given the uncertainty they face over jobs and housing, and given that the value of future private pensions will largely depend on investment growth, which is not guaranteed.””
Those last two words should ring like a horror film quartet.
Any Gen Y who can read will be saying WTF and FU to that. (We were chucked in the deep end with workplace pension schemes with zero choice, unlike X or Z).
Translation: Pay us or else and there’s a minute chance you’ll get a slither of it back at some point, but not really because haha you were in debt before you were born, suckers.
We don’t have the fertility levels to maintain this system. The Boomers didn’t have enough kids. Those kids will already be caring for their own elderly parents. Without going into the massive immigrant families expecting handouts from Whitey, when the children send money out the country in remittance and resent paying for the white elderly too.
The elderly will blame the bankers they bailed out to run their pension funds for the missing money.
Abolish the death tax and the fertility rate will fix itself (those children going on to pay into the system) because my lot could finally afford them. Look at all the articles about young people putting off kids, it’s a national crisis. Keep the death tax to fuel impossible state ‘pensions’ (bribes) and to spite the current children and we will spite you by making none. Having kids is just too expensive now unless you do it with others’ money so you’ll be getting a higher % of the dumb and lazy. You cannot replace the high IQ either with third-worlders, GDP is tied to national IQ.
The immigrants will move home where living is cheaper if the taxes are demanded. They will revoke citizenship and turn traitor when the country asks of them, we all know it, many said about jumping ship if we leave the EU. Short-term prosperity for long-term failure. The middle-aged and old have chosen this and voted for it. My generation, knowing we won’t see a penny, will correct this when in power.
Wonka moment. They get nothing!
As for the immigrants who took public funds their ancestors never paid into and expect to leave without paying the bill… trillions in international theft?
Can you spell Colonialism?
That welfare money was only legal to provide on the loophole they must remain citizens (and hence pay in the rest of their lives). It was not a gift. Otherwise, theft of one country from another, and imposition of genocidal conditions (limiting native fertility is one and taking up school/job/Uni spaces for natives plus taking their ancestors’ contribution alone meets it), constitute an act of war.
Anyone with proof otherwise, go ahead. I’ll wait.
Who do my generation and thereabouts think is paying for this? Do you see anyone else around here? Like the refugees invited by a woman near death, the corrupt NGOs that rape children abroad with our taxes, and best of all, national debt to encourage the politicians betraying us, it’s all on us.
Again, savings go up, we cannot save for pensions, you need to have no national debt to save; they were never saving, but investing, despite refusing to admit it’s gone down. They voted for QE and low interest for mortgages, this is the outcome. They devalued the currency and retired too early on too little. They’re already in debt personally. This is a national Marshmallow Test and they’ve failed. We don’t owe them any bailouts.
OT but not really.
The most pro-immigrant people I see are near retirement whites.
Honest question: why do they think / what proof do they have, that the people dodging paying for the elderly in their homeland, will ever pay for them? And with more people in the system and their extended families, do they not see it will crash the system even faster? Logically? I haven’t seen any proof and I have looked but it seems to be the seedcrop for their affronted maintenance that Immigrants Bring More Money Than They Take. Despite discounting remittance, social spending etc.
They cannot do maths.
The Guardian (a Boomer rag) seem to be appeasing the young by admitting a problem but blaming everyone but those at the top of the social pyramid.
Boomers are perma-victims, always the Real Victims Here TM.
comment “Until the, let them play Pokemon Go whilst looking at porn on their iPhone, in between whining over their Mocha frappuccini, and crying into their craft beer whilst combing their beards.”
Meanwhile, “As per the article the liabilities just of final salary pensions are at least £1.4tn, which is more than the official national debt. I don’t believe it is funded – if so where are all these funds held?”
The nail has been struck.
If the Government collapses, the People live.
And the entrepreneurs with their flat whites trying to boost the economy this side of China?http://www.telegraph.co.uk/finance/personalfinance/11174288/Self-employed-Youre-stumbling-into-pensions-nightmare.html
Their proposed solution is to tax/rob the rich. That can only happen ONCE. For a few short years. And then bust. When you take something, it doesn’t grow. Rabbit farms.
These people are too dense to notice their pensions are inflated by investment in the companies in the stock exchange ‘avoiding’ the taxes they say should affect the bottom line – and dividends. If taxed any more, those companies will go abroad and buyback those shares. They will lose more money.
“Does the fact that these old people’s pension payments go into questionable ponzi schemes on the stock exchange have any bearing on this ?”
Cookie for you, son.
reason on tuition
“Increasing tuition fees was a Tory policy.” (and Lib Dem in coalition)
“and introducing them in the first place was Labour policy”
“How does ever rising immigration offer anything but a short term palliative? Who pays the pensions of the immigrants in due course, ever more immigrants? Exponentials have a nasty habit of blowing up.”
The immigrants are more fertile, they take far more even if part of their families reunite. One working, five aunts, uncles and grandparents needing care minimum, more like 15-50 if you look. No one is that productive.
“Pensions are a myth”
They haven’t worked ‘all their lives’ or they wouldn’t need a pension. Average duration is two DECADES. Originally meant to be five years, tops.
More hatred for housewives and stay-at-home mothers
“No mention of the sex divide, women have paid far less into the system yet draw more (more likely to be getting housing and pension benefit) and for much longer than men. No one from this think tank is going to go there.”
Those women work at home. They did the right thing and raised the future workers paying for you. Not all forms of civilization-building work can be taxed. What’s worth more, a little tax boost temporarily and a burden in old age greater than that, or three kids that create a tax surplus over the untaxed parent? As the welfare state grows, the population must grow more. It’s Malthusian. This would always have snapped back, but the generation to introduce it are now happily dead, having gotten away with it.
back to Guardian comment bingo
“Is this the Sun or the Guardian?
Ageist and highly prejudicial What is happening in the Guardian
What happened to balanced fair reporting?
This article is promoting hate
Guardian editorial staff should be prosecuted for inciting violence against old people by using weasel worded articles like this
“I’m sorry you’ve not saved a fraction of the pension you are forcing someone else to pay for unwillingly and you get upset if they talk about it.
You really are the worst generation ever. Truly hateful.”
The younger SJW set are finally talking back. On The Guardian itself. The cogs turn.
“Personally speaking I’ve got no time whatsoever for this so-called “Intergenerational Foundation” – why does a liberal newspaper like The Guardian continue to offer a platform to a group of fascists advocating hatred of older people?”
reply “Ageism goes both ways – look at all the utter crap that gets written about Millenials and so on.”
Anyone who disagrees with me and other parasites is Fascist. But I want to control people and make them slave for me for life. This in the name of freedom and democracy.
Social justice was invented by these wankers. Merely applied by Gen Y students with Boomer teachers.
How about the radical idea of basing payments on the tax one has paid?
Oh, but then public sector workers are fucked, aren’t they?
From top link
“Those over the age of 65 have harvested fully two-thirds of that £2.7tn increase in national wealth.”
There’s your income inequality, Boomers.
They celebrated abortion and as others have said, our generation will be morally OK with euthanasia for the same reason: to reduce their suffering. We simply can’t afford to keep them and the few children.
The politicians have public sector pensions, a corrupt conflict of interest.
These people celebrated tuition hikes, when it’s less public-backed money for them. All the tax money is finite.
Problem covered, problem solved?
Young people have already hit their limit. Their primary luxury is FOOD FFS. You need it to LIVE. Literally!
To pay for this pension malarkey, comment “Student loans will have to be written off, no one voted for them therefore they were illegal”
Forgiveness, like America.
But likely only for STEM and medical.
comment “Young people will have to pay for their own pensions, and the pensions of the elderly, and the trillion pound national debt (they didn’t run that up either) and they will never experience the level of home ownership, prosperity, employment or public services that we will not be able to afford (obviously, as the only way they could be afforded in the first place was through spending the pension pots and borrowing a trillion and counting). The unvarnished truth is that today’s pensioners lived through the absolute best of times, funded largely through spending the money of the younger generation. Sadly the people on basic state pensions are also poor.”
They lived like Kings – and pissed away a King’s fortune. They deserve to be poor.
That fortune was given not to them, but to the future. It was not meant to be spent, but preserved. It’s like the old saying about the new rich – it’s pissed away by the third generation, who deserved it least.
When they keep re-mortgaging their home for nude cruises to keep up their Viagra usage and record high STD rates, don’t be shocked when they’re homeless.
Gen Z will be more ruthless than us, I wouldn’t be shocked if they happily turned cannibal on Nana – they were taught society owes them, and they owe it nothing.
“Why should younger generations contribute and pay for pensioners to have advantages we will never receive?”
– The forbidden question.
Social contracts are a bitch. We owe them nothing when they took everything – including our youth and future.
Do you want to know the tragedy in this?
If everything had gone as planned, today’s youth would be the most prosperous ever.
Which generation holds that title?
If the wealth were preserved and passed on, with minimal pilfering like their parents and grandparents, and immigration/multikulti kept low, we’d have;
- record high employment
- record high wages
- low inflation
- more savings
- less to no national debt
- higher national IQ
- more children
- less corruption
- lower crime
- affordable property
- more intact families
- more consumer spending
- less years in education becoming competitive
- earlier retirement
- assured pensions
- stable NHS
- higher trust
- better transport
- more STEM investment
- lower taxes.
And more. It’s too depressing to go on listing. They are the biggest fuck-ups in recorded history and we shall report them as such.