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The Figures Don't Add Up


Focus_Man 4 481 631 United Kingdom
27 Nov 2012 4:26PM
We have a few more hits soon. Next year our personal allowance is to be frozen whilst the allowances of others will rise by inflation. In 2018 (i think it is) there will be a larger basic state pension, something like 140.00 pw by todays standards.

However

It will not apply to existing pensioners.

Care home provision costs are set to rise and we will be expected to take out some insurance policy to cover the costs,

However

If you are in receipt of benefits you will get your old age care for free.

All sounds good doesn't it?

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thewilliam 6 4.7k
27 Nov 2012 4:40PM

Quote:However

If you are in receipt of benefits you will get your old age care for free.

All sounds good doesn't it?



It's fully consistent with government policy: to dump on those who have served the country. They go a lot further and grant all sorts of goodies to the undeserving such as recidivist illegal immigrants who seem to be the only people with any human rights.

Many folk on benefits are good people who have just fallen on hard times. When they expect us to work until we're 70 yet companies want to throw us on the scrapheap when we reach 50, how are we going to support ourselves for those two decades?
Paul Morgan e2
13 15.7k 6 England
27 Nov 2012 4:45PM

Quote:a lot of the problem is that previous governments removed the dedicated Geriatric wards in hospital with the stupid idea that the elderly and infirm could be "Cared for in the Community". Result, private companies got involved and a large element of the cost of "care" that is now provided is down to profits for the shareholders


Hospitals need there beds, why should they give these to the elderly when all they need is a pretty basic level of care.

Private care company's are not making much in the way of profits, some of the larger ones have recently folded, and others are struggling.


Quote:People are living too long as a result of advances of medicine. Looked at in evolutionary terms, we spend trillions battling against Darwinism!


Sure people are living longer, but without there minds, dementia is on the rise Sad
mikehit e2
5 6.8k 11 United Kingdom
27 Nov 2012 4:50PM

Quote:Adding to cats figures, the inflation rates were even more "interesting"

1980 18.00%

1979 13.40%

1978 8.30%

1977 15.80%

1976 16.50%

1975 24.20%

1974 16.00%

at the peak my company was giving us half-yearly pay rises just to help us keep up with the cost of living (and failing)You youngsters don't know what financial pressure is (yet) Tongue



At least you had pay rises. That is more than many are experiencing now.



Quote:but were kind enough to keep me in employment until I retired early

Tough life, isn't it Grin I've got bugger all chance of that happening.

Going back to the OP:

Quote:I keep reading about how the Ageing Population is consuming an unfair amount of the budget

Part of the problem is that for hte last 40 years people have gradually got used to the mantra about comfortable retirement where they can keep dong all the things they could do during their working years, that it has become a cultural idea that this should be the way old age is, and if private pensions can't meet it then state pensions should go some way towards it.
On top of this is the undercurrent that people work and save to leave something to their kids, so if they need to go into a retirement home then should not have to dig into their savings to contribute to the costs because that is the kids inheritance, nor should they have to sell assets (house etc) to contribute, either. I will (hopefully) be retiring in the next 15 years but I really disagree with that attitude.Of course it is nice to leave something to the kids if you can, but I work to keep me and my wife comfortable - once kids leave home they look after themselves and if I can help, all the better.
brian1208 e2
11 10.4k 12 United Kingdom
27 Nov 2012 5:06PM

Quote:but I work to keep me and my wife comfortable - once kids leave home they look after themselves


absolutely agree - we raised and educated our two to be self-suffcient and self-supporting. Been there, done it, end of responsibility

and of course, if you have assets you should use them to support yourself in your old age - but it still really pees me off to see those who haven't been self-sufficient or self-supporting getting the same or better treatment than those less lucky than me who have worked their entire lives and have to live on a pittance in retirement


Quote:At least you had pay rises. That is more than many are experiencing now.


but its a bit different when you have no pay rise with inflation at 4% and a 12% pay rise with inflation at 24%! Wink
Paul Morgan e2
13 15.7k 6 England
27 Nov 2012 5:30PM

Quote:and of course, if you have assets you should use them to support yourself in your old age


Like being forced to sell your home, if you or your wife ever needs social care.
collywobles 10 3.3k 9 United Kingdom
27 Nov 2012 5:48PM

Quote:and of course, if you have assets you should use them to support yourself in your old age


Nothing wrong with that in principle the problem is that while you have been working your butt off for 50 years paying off a mortgage, others who sit on their arse get it for free.



Quote:Like being forced to sell your home, if you or your wife ever needs social care.


This can be restricted with the right Wills in place (as I have done).
Paul Morgan e2
13 15.7k 6 England
27 Nov 2012 5:54PM

Quote:This can be restricted with the right Wills in place (as I have done)


True, but many haven`t, and loose everything.
Focus_Man 4 481 631 United Kingdom
28 Nov 2012 9:30AM

Quote:This can be restricted with the right Wills in place (as I have done)


True but only restricted - it doesn't solve the problem of the feckless getting everything free nor does it save your house in its entirety for your kids. there are always tax considerations and in some cases you have to pay rental once you live in a house passed to your family by trust.
collywobles 10 3.3k 9 United Kingdom
28 Nov 2012 10:47AM

Quote:there are always tax considerations and in some cases you have to pay rental once you live in a house passed to your family by trust.


Not if its done correctly, but it will cost quite a bit to have it done.

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