Greedy middle class pensioners

[D_Hailsham]

Return on investment isn't about money being invested per se (as in in banks or investment funds). It's about the money spent in the short term in order to provide a more in control future state that costs less.

I agree, but my point was still valid.

 

[mointainwalker]

Just to add to the discussion. The state pension is,in ROI financial terms , very generous.

If the pension contribution had been invested in the stock market ( long term returns from FTSE 100 or global markets, forget which was quoted ) the returns would only be around 40% of the current pension.

People are also talking about free bus-passes. I thought they had been cancelled ?

 

[Djnikon]

Return on investment isn't about money being invested per se (as in in banks or investment funds). It's about the money spent in the short term in order to provide a more in control future state that costs less.

I agree, but my point was still valid.

But surely if they spent money up-front in improving the system and processes (including means testing) then the money saved (the ROI) in the long term is then used to pay the pensions of those drawing and the contributions of the working can then be invested, as you point out, for future use.
Invested? What am I saying? Investments mean squat these days.

 

[mointainwalker]

contributions of the working can then be invested, as you point out, for future use.

But there is no investment. No government revenues are ring-fenced for use, so by definition you can have no investment of pension funds. Pay-outs are decided fairly arbitrarily and it is left to future administartions to sort things out as is happening all over Europe currently.

If there were a defined pot of money then the state-pension would be identical to defined-contribution company schemes whereas it is a defined-contribution AND defined-benefit-scheeme combined.

 

[joe-90]

Pensions in Oz are means tested. They will be here soon.

 

[ellal]

Pensions in Oz are means tested. They will be here soon.

Living beyond a certain age will soon be means tested full stop!...

 

[Susiejb]

Living beyond a certain age will soon be means tested full stop!...

Hope they don't start bumping us off at sixty

 

[joe-90]

They are going to have to let old people die - that's for sure.

 

[Susiejb]

They are going to have to let old people die - that's for sure.

Don't get depressing Joe ....its Christmas ....time to be cheery

 

[joe-90]

They let them freeze to death as it is.

 

[ellal]

Joe is indeed depressing...he also happens to be realistic!

 

[Diane2]

when i try to be cheery...........the posts get deleted

 

[joe-90]

Who told you that?

 

[Susiejb]

They let them freeze to death as it is.

I agree you are right there Joe.....at least probably 50% of the 2.7 billion spent on heating allowance goes to the wrong people.

 

[joe-90]

They let them freeze to death as it is.

I agree you are right there Joe.....at least probably 50% of the 2.7 billion spent on heating allowance goes to the wrong people.

Don't start getting racist.