Hmm, I think it could be more than 20 years for you - I'm sure the retirement age will have been moved back some more by then. Still, life expectancy is increasing all the time, so you should still get some pension before you peg it.
Future shortfalls in pensions will be all the fault of the government and the nutri-bullet botherers - they should have kept their gobs shut regarding smoking, excess alcohol, cholesterol, trans fats, sugar, sugar substitutes, red meat, sunbathing and NCap rated cars.
I just dropped in, to see what condition my condition was in
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Location: Middlesex, UK
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I'm Alex.
Not much is said about the second state pension that "ended" in April 2016, but If one had earned contributions to that up to that date, you will still get benefit from this. It's called a protected payment. In my case, I became of pensionable age in May 2016, so get close to all my "second state pension" in the form of a "protected payment" every pension payment day, I chose weekly, not the more usual bi-weely or monthly payment dates.
Last edited by spendorman; 12-09-2018 at 11:36.
Spendorman
Location: Middlesex, UK
Posts: 4,482
I'm Alex.
Another thought, Mum got her sate pension for over 40 years, great one might think, when she passed away, guess what, they took a load of it back in inheritance tax. One way of looking at it, it was a loan!
Spendorman
yes but then they wouldn't get the satisfaction of telling people how to live their lives and that's very important to them.
You'd think they would make booze and fags as cheap as possible, and legalize hard drugs. If everyone dies by the time they are 70 then no pensions crisis, no NHS crisis, it's a win-win.
So instead they do the opposite so we can all sit around in nursing homes until we're 90 with absolutely no memory of who we are, being looked after by half the population of the Phillipines, whilst our offspring work 60 hour weeks to pay for it.
Current Lash Up:
TEAC VRDS 701T > Sony TAE1000ESD > Krell KSA50S > JM Labs Focal Electra 926.
Indeed. I've often thought that when we reach pensionable age (I already have) we should be given the option of a considerable lump sum or life extending NHS treatment if needed. I know which one I'd opt for - jam today and little likelihood of being in that nursing home at 90. Do the sums right and the government would save money!
The whole thing is just a nonsense, like those pension adverts where you see them touring the world or painting with oils in Tuscany or something equally improbable. Unless you are in a very lucky 0.0001% you're going to be too tired or too ill to do much other than sit in the warm with a cup of tea and watch the telly.
Was talking about this with some friends recently, one was banging on about pensions and how much he would get when he retires in 15 years. This is a bloke who is very overweight, so unfit he can't walk a mile without being knackered, and who has drunk (at least) a bottle of scotch a day for the past 25 years.
Current Lash Up:
TEAC VRDS 701T > Sony TAE1000ESD > Krell KSA50S > JM Labs Focal Electra 926.
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Yes I too would choose the big cash sum. Then I would go out to India (or somewhere else cheap) to get my body fixed up, then over to Thailand with the left-over money for a shitload of lady fun (no Marco, not ladyboy fun) or maybe the Phillipines. When the money runs out I'll return to Old Blighty to be looked after by...yes some more Fillipinos (Hey you look familiar, does your sister work in a strip club back home?)
I just dropped in, to see what condition my condition was in
T/T: Inspire Monarch, X200 tonearm, Ortofon Quintet Blue. Phono: Project Tube Box CD: Marantz CD6006 (UK Edition); Amp: Musical Fidelity A5 Integrated.
Speakers: Zu Omen Def, REL T9i subwoofer. Cables: Atlas Equator interconnects, Atlas Hyper 3.0 speaker cables
T'other system:
Echo Dot, Amptastic Mini One,Arcam A75 integrated, Celestion 5's, BK XLS-200 DF
A/V:
LG 55" OLED, Panasonic Blu Ray, Sony a/v amp, MA Radius speakers, REL Storm sub
Forget the past, it's gone. And don't worry about the future, it doesn't exist. There is only NOW.
KICKSTARTER: ENABLING SCAMMERS SINCE 2009
I think in the Philippines they still have this thing where the family look after the older members directly. Obviously as they get more westernized they'll start putting them in care homes like we do. Which presumably will be manned by people recruited from whatever country is further down the food chain from the Philippines.
Current Lash Up:
TEAC VRDS 701T > Sony TAE1000ESD > Krell KSA50S > JM Labs Focal Electra 926.