Pensions

[dellzeqq]

Are they? Which countries in particular? What is their current tax burden in comparison to ours?

countries in particular - you're having a laugh. It's countries in general. The last I looked we had the lowest pensions in Western Europe

...but lets start with Germany
The Public Retirement Insurance System, which also includes survivor and disability benefits, has been dominant. Participation is mandatory for employees, with each worker assessed for a sum based on annual earnings. Premiums are deducted by the employer, with the employee paying half and the employer half. Starting in January 2012 the premium is 19.6 percent of the gross monthly wage or salary. This is assessed on monthly incomes up to a maximum of 5,600 euros (67,200 euros a year) in the west and 4,800 euros (57,600 euros a year) in the east. Retirement now normally begins at age 65, though it is to be gradually increased to 67. Contributions to the plan are also to be increased, and maximum pensions eventually reduced from 70% to 67% of net pay. English language information about the German Public Retirement System can be found at www.deutsche-rentenversicherung-bund.de. (Click on the language selection on the left side.)

 

[Oldspice]

No one has to worry about what happens to them when the get pensioned off, as we will all be doing mandatory voluntary work in order to claim the state pension we've been paying for

 

[gary in derby]

I can understand why you have your views but don't agree with your reasoning. Let's agree to disagree and move on

fair play

 

[Deleted member 20519]

My, he looks like a fun guy...

View attachment 14240

This is his happy face

 

[Longshot]

countries in particular - you're having a laugh. It's countries in general. The last I looked we had the lowest pensions in Western Europe

...but lets start with Germany
The Public Retirement Insurance System, which also includes survivor and disability benefits, has been dominant. Participation is mandatory for employees, with each worker assessed for a sum based on annual earnings. Premiums are deducted by the employer, with the employee paying half and the employer half. Starting in January 2012 the premium is 19.6 percent of the gross monthly wage or salary. This is assessed on monthly incomes up to a maximum of 5,600 euros (67,200 euros a year) in the west and 4,800 euros (57,600 euros a year) in the east. Retirement now normally begins at age 65, though it is to be gradually increased to 67. Contributions to the plan are also to be increased, and maximum pensions eventually reduced from 70% to 67% of net pay. English language information about the German Public Retirement System can be found at www.deutsche-rentenversicherung-bund.de. (Click on the language selection on the left side.)

Thanks for supporting my earlier point with that. Contributions of 19.6% of gross wage or salary which are to be increased. If we adopt that as a policy, our pension situation will improve immeasurably. As I said, we will have to pay for it.

 

[dellzeqq]

Thanks for supporting my earlier point with that. Contributions of 19.6% of gross wage or salary which are to be increased. If we adopt that as a policy, our pension situation will improve immeasurably. As I said, we will have to pay for it.

I'm not saying we shouldn't. Indeed I think that it's good thing that taxes will rise to pay for them. Having said that - 67% is vastly higher than the UK, and reflects a different priorities.

 

[gary in derby]

countries in particular - you're having a laugh. It's countries in general. The last I looked we had the lowest pensions in Western Europe

...but lets start with Germany
The Public Retirement Insurance System, which also includes survivor and disability benefits, has been dominant. Participation is mandatory for employees, with each worker assessed for a sum based on annual earnings. Premiums are deducted by the employer, with the employee paying half and the employer half. Starting in January 2012 the premium is 19.6 percent of the gross monthly wage or salary. This is assessed on monthly incomes up to a maximum of 5,600 euros (67,200 euros a year) in the west and 4,800 euros (57,600 euros a year) in the east. Retirement now normally begins at age 65, though it is to be gradually increased to 67. Contributions to the plan are also to be increased, and maximum pensions eventually reduced from 70% to 67% of net pay. English language information about the German Public Retirement System can be found at www.deutsche-rentenversicherung-bund.de. (Click on the language selection on the left side.)

Having lived in Germany for five years and spent ten years married to a German. their system doesnt just give them a better pension but also better unemployment benifit. for example.
state pension for single person in england is £107 per week max regardless of amount paid in.
state pension for single person in germany is at present 70% so for arguments sake
man earning 50,000 per annum on retirement = 35,000 per year = 673 per week
unemployment benifit in england 67.00 per week
germany based on previous years earnings of 50,000 = 60% so, 576 per week.

yes i know we cant afford such numbers. But funny that a country that was bombed to bits and bankrupt after the second world war, and is still paying out billions in war repirations, can.

 

[Drago]

Each month of my

Thanks for supporting my earlier point with that. Contributions of 19.6% of gross wage or salary which are to be increased. If we adopt that as a policy, our pension situation will improve immeasurably. As I said, we will have to pay for it.

We already pay for it, quite handsomely in many cases.

I pay in 15% of my gross salary, and have done so since I was 18. That money, properly invested, should make me moderately comfortable when the time comes.

The problem is that each month my money is not being invested. My money is going straight out the door again like a giant ponzi scheme to fund the pension payments of those retired coppers and soldiers out there.

It's an utterly endemic fault with the pension system in the UK, not an issue with the amount that many of us contribute, which in most other countries would be properly invested, not used to fund payments to those already retired, and would then give a reasonable return when it is my turn to claim.

Ponzi schemes are outlawed in private finance, so why are the government able to run one on such a vast scale?

 

[wormo]

The trouble as I see it is the fact that as a country we want A star services (nothing wrong with that) but we are unwilling to pay for it. Successive governments have tried to keep income tax low (raisng peripheral indirect taxes) to keep us the voters happy. Re last point we spent god knows how long paying back USA after WWII.

Post 92 income tax for everyone should have been raised to cover for the future bombshell. The trouble is the government and the electorate are only interested in short term polices which will make us happy rather than planning for the future which was never going to be good news. Politicians know that they only have a short time in power exspecially if we yoyo between the parties.

A lot of this countires problems stem back to poor governance/manegement since 50s.

 

[simon.r]

unemployment benifit in england 67.00 per week

To be fair it's now a massive £71 a week. Best pay rise (in percentage terms) I'd ever had when I was claiming earlier this year

 

[gary in derby]

To be fair it's now a massive £71 a week. Best pay rise (in percentage terms) I'd ever had when I was claiming earlier this year

sorry little out of date then lol

 

[swee'pea99]

 

[Pat "5mph"]

DZ, you're comparing us with Germany, we have no chance!
Well, us as we stand just now have no chance, maybe the next generations will, if they start putting a better system in place now.

 

[Longshot]

The trouble as I see it is the fact that as a country we want A star services (nothing wrong with that) but we are unwilling to pay for it.

This.

As long as we are run by politicians more interested in their career than the real good of the country, this will never change.

 

[gary in derby]

think im off to read DAS KAPITAL