What the feck have you done today?

[Barry Hell]

My state pension is a couple or so years away (as things currently stand) but when it starts, I have a real dilemma.

I'll pay tax on the whole of the State Pension and I don't want to pay anything to the Regime, ley alone pay more to it. On the other hand, I'll be receiving from the Regime four times what I will be paying in Income Tax (on current figures and with respect to the State Pension).
I suppose this is my preferred outcome but it did cross my mind to research whether it is possible to decline the State Pension, in order to not increase the amount of Income Tax I have taken from me by the Mafia. Crazy.

I know, I know... but I hate the thought of paying anything to these criminals.

You can defer the state pension (it will increase when you take it so a further tax conundrum) or just never claim it, hence declining

 

[Loz]

You can defer the state pension (it will increase when you take it so a further tax conundrum) or just never claim it, hence declining

Meh.

I'd better go back to Plan A and just go to war with the criminal gangs.

 

[Hugo Magnus]

I take state pension. I've paid in and intend to get some back. My younger brother paid in but died before he'd got anything back.

The state pension should be in a ring fenced pot ,solely for the purpose for which it is intended.

I think it is diabolical that we are forced to pay for a pension that we can take at a set age only for the bastards to move the goal posts just before you get there. State sponsored theft!

 

[Barry Hell]

I take state pension. I've paid in and intend to get some back. My younger brother paid in but died before he'd got anything back.

The state pension should be in a ring fenced pot ,solely for the purpose for which it is intended.

I think it is diabolical that we are forced to pay for a pension that we can take at a set age only for the bastards to move the goal posts just before you get there. State sponsored theft!

And don't mention the return on your investment

 

[Dukesox]

Meh.

I'd better go back to Plan A and just go to war with the criminal gangs.

I guess it depends what the source of your other income is and if you can do anything to change it so it is not taxable . Or wait a few years and hope for a more friendly regime. Unlikely I know.

 

[Loz]

And don't mention the return on your investment

In the US, it is accepted that a private pension plan is a substantially better return compared to Social Security. I imagine it's the same in Britain. You can't opt out of paying the tax that is called National Insurance (or Social Security) so the point is moot. So everyone would be better off if gubmint was removed from the pension provider business and it was all left to the private sector (if such a thing still exists).

So... you pay the pension tax and eventually/possibly receive a state pension regardless of your need for it, eg you have enough private pension to see you through retirement.
Someone else who cannot or will not invest in a private pension plan will end up with a subsistence-level pension, in accordance with the social "safety net" doctrine in the enlightened West. They'll likely also receive benefits, again paid for by the taxpayer.

Is this the best possible system?
Perhaps, if you somehow had a proper government instead of the kleptocracy we have at present. Is it the best system given that we are ruled by mafia thugs?

Best answer wins a car.

Edit: Card, not car. Stupid keyboard.

 

[Loz]

I guess it depends what the source of your other income is and if you can do anything to change it so it is not taxable . Or wait a few years and hope for a more friendly regime. Unlikely I know.

I've thought through my personal circumstances - war seems like the only real option.

 

[Alan Williams]

My state pension is a couple or so years away (as things currently stand) but when it starts, I have a real dilemma.

I'll pay tax on the whole of the State Pension and I don't want to pay anything to the Regime, ley alone pay more to it. On the other hand, I'll be receiving from the Regime four times what I will be paying in Income Tax (on current figures and with respect to the State Pension).
I suppose this is my preferred outcome but it did cross my mind to research whether it is possible to decline the State Pension, in order to not increase the amount of Income Tax I have taken from me by the Mafia. Crazy.

I know, I know... but I hate the thought of paying anything to these criminals.

If you don't take it aren't you effectively giving them it all.

They'll only waste it.............

 

[Loz]

If you don't take it aren't you effectively giving them it all.

They'll only waste it.............

Agreed on both counts. And it's the reason why I won't decline or defer when/if the time comes.

It's just that every interaction with gubmint leaves me feeling stained and contaminated, and not in a good way either.

 

[Alan Williams]

Agreed on both counts. And it's the reason why I won't decline or defer when/if the time comes.

It's just that every interaction with gubmint leaves me feeling stained and contaminated, and not in a good way either.

I don’t think deferring it is such a good idea anymore. Doesn’t increase by much and you’d have to live a fair bit longer to get that money back.

Unless you defer until your private one runs out.

 

[wroughtironron]

Elsie came back from shopping this morning - "I got you a cake for your lunch Ron"

"Thanks Elsie - what did you get me?"

"A Dirty Rotten Rascal"

"I think they're called a Fat Rascal Elsie"

"You know what I meant"

 

[Unhinged]

Got my first pension payment today.