Who’s going to tell them that the answer is immigration?

[King Billy]

You're much better off if you don't bother with a pension and just get the most expensive house you can possibly afford. Then you can sell it and cash in the profit, completely tax-free, if you need to, and get the additional full state pension.

And if you can't afford to buy a house?

Quite doable if......

 

[Ivor Windybottom]

And if you can't afford to buy a house?

I'm pointing out that the system stinks. Those who save lose later. Whereas the value of your house gets overlooked. So the best bet is not to have money and have assets instead. A house is the only asset that you won't pay tax on.

But you won't get a mortgage as you're probably on the dole or long-term sick with some fictitious mental condition.

 

[MNW67]

I'm pointing out that the system stinks. Those who save lose later. Whereas the value of your house gets overlooked. So the best bet is not to have money and have assets instead. A house is the only asset that you won't pay tax on.

But you won't get a mortgage as you're probably on the dole or long-term sick with some fictitious mental condition.

Do you mean have a nice expensive house but little in the way of cash so that you can claim pension credit?

 

[King Billy]

I'm pointing out that the system stinks. Those who save lose later.

Nonsense they have a more comfortable, more independent retirement.

Whereas the value of your house gets overlooked. So the best bet is not to have money and have assets instead. A house is the only asset that you won't pay tax on.

If you can afford to buy your house, then you have assets to sell. We're talking about the pensioners who are entirely reliant on state pension or pension credit and they have no assets to sell, nor any savings

 

[Ivor Windybottom]

Do you mean have a nice expensive house but little in the way of cash so that you can claim pension credit?

Correct. Then you have no money but have £100,000s of equity that you could release if necessary. It could also be useful if that house gets a bit knackered, then it could be downsized for a smaller brand new one with fully working everything.

All while claiming loadsamoney from the govt, perfectly legally.

Many currently claiming pension credit live in houses that are worth many £100,000s or more. Many of these are excessively large too, sometimes with whole floors and/or outbuildings that don't get used.

But Burnham will probably plan to seize everyone's house on death or even before, as he's a communist.

 

[Ivor Windybottom]

If you can afford to buy your house, then you have assets to sell. We're talking about the pensioners who are entirely reliant on state pension or pension credit and they have no assets to sell, nor any savings

Rent paid, bills paid, free bus pass, plus some baked beans and Worthers Originals vouchers.

 

[SPLINE]

You seemed to be arguing for a fully funded state pension model rather than a PAYG state pension model.

No, I am trying to get people to think about how the state pension, which started off as a sensible scheme, has been perverted and promised to so many people, and that this is probably why it is unsustainable. I am not offering a solution, just trying to make people see a truth that is currently outside the Overton window

Mottie understands:

My point was, those that have not paid into the system, get far more than those that have.

I've described the NI credit and 0% band giveaways, but these were compounded, and then some, by pension credit, which does not apply to those who have worked for their pension, but entitles those who haven't to a sum equal to it, and qualifies them for housing and council tax benefit, free TV licence, travel costs for hospital appointments, cold weather payments, help with sight and dental treatment, help with heating bills and much more. All for doing f**k all.

Furthermore, any UK resident can get pension credit - yes, this includes foreigners who have only recently arrived.

 

[MNW67]

No, I am trying to get people to think about how the state pension, which started off as a sensible scheme, has been perverted and promised to so many people, and that this is probably why it is unsustainable. I am not offering a solution, just trying to make people see a truth that is currently outside the Overton window

Mottie understands:



I've described the NI credit and 0% band giveaways, but these were compounded, and then some, by pension credit, which does not apply to those who have worked for their pension, but entitles those who haven't to a sum equal to it, and qualifies them for housing and council tax benefit, free TV licence, travel costs for hospital appointments, cold weather payments, help with sight and dental treatment, help with heating bills and much more. All for doing f**k all.

Furthermore, any UK resident can get pension credit - yes, this includes foreigners who have only recently arrived.

I am aware of all that. There has always been a means tested safety net. But I was specifically interested in the issue of whether we could have a fully funded system rather than a PAYG system.