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How Does That Work

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    How Does That Work

    Minimum wage to increase by 6.6% at some age levels nearly 10% the simple argument for the increase being the cost of living price increases. Yet State Pensions increase to be reduced from 8% to 3.1% because of the cost. Does the cost of living increases not apply to the retirees....... it would appear not. Now let me think ...how does that work.

    #2
    Maybe the cost of living will increase more for working age population than retirees.....housing, taxes, childcare, transport
    Last edited by andyn, Bucks; 25th October 2021, 06:18 PM.

    Comment


      #3
      Originally posted by Little Red Rouster, Lancaster View Post
      Minimum wage to increase by 6.6% at some age levels nearly 10% the simple argument for the increase being the cost of living price increases. Yet State Pensions increase to be reduced from 8% to 3.1% because of the cost. Does the cost of living increases not apply to the retirees....... it would appear not. Now let me think ...how does that work.
      Retirees have WFA, free Bus Pass, Free Prescriptions as well as Pension Credit if applicable.

      BTW By increasing the NMW, the government has the potential to reduce the WTC bill (hidden subsidy to Supermarket Chans etc) as well as potentially increasing the Government Tax take in respect of NIC. What is not to like

      Annie

      Comment


        #4
        Originally posted by andyn, Bucks View Post
        Maybe the cost of living will increase more for working age population than retirees.....housing, taxes, childcare, transport
        The lowest state pension will be £7384 p.a. as against nearly £20000 for a 40 hr week minimum wage.

        Comment


          #5
          Originally posted by Little Red Rouster, Lancaster View Post

          The lowest state pension will be £7384 p.a. as against nearly £20000 for a 40 hr week minimum wage.
          and......tax, NI, mortgage/rent, transport, childcare, won't be any left.
          The rise is good news but not enough, people should be paid enough to live without taxpayers having to pay income support because employers do not pay a living wage
          Not saying the state pension is great but it should not be a race to the bottom. I don't think any pensioner should be complaining about a pay rise for the lowest paid. I understand we have one of the lowest state pensions in Europe

          ​​​​​​https://www.pensionsage.com/pa/UK-fa...n-rankings.php
          Last edited by andyn, Bucks; 25th October 2021, 07:10 PM.

          Comment


            #6
            Originally posted by Little Red Rouster, Lancaster View Post

            The lowest state pension will be £7384 p.a. as against nearly £20000 for a 40 hr week minimum wage.
            OK what am I missing, a single person, if eligible, can have their pension topped up to £177 per week with Pension Credit which is higher than £7384 per annum. As I understand it, Pension Credit unlocks other benefits?

            BTW Pension is guaranteed. Can the same be said for weekly wages?

            I can't imagine too many retirees on a cruise forum, are in receipt of Pension Credit. It would not be the first time I am wrong.

            Annie
            Last edited by annie, Glasgow; 25th October 2021, 07:09 PM.

            Comment


              #7
              Originally posted by annie, Glasgow View Post

              OK what am I missing, a single person, if eligible, can have their pension topped up to £177 per week with Pension Credit which is higher than £7384 per annum. As I understand it, Pension Credit unlocks other benefits?

              BTW Pension is guaranteed. Can the same be said for weekly wages?

              I can't imagine too many retirees on a cruise forum, are in receipt of Pension Credit. It would not be the first time I am wrong.

              Annie

              Just to say in regards to pension credit, entitlement depends on how much if any savings a person may have, over a certain amount you are then are looking at savings credit, also based on the total amount of savings. Savings credit only available to people who reached State Pension age before 6 April 2016.

              So you could have low income pensioners, not entitled to pension or savings credits, due to the amount of their savings. Just saying.
              Delboy


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              Comment


                #8
                Originally posted by annie, Glasgow View Post

                OK what am I missing, a single person, if eligible, can have their pension topped up to £177 per week with Pension Credit which is higher than £7384 per annum. As I understand it, Pension Credit unlocks other benefits?

                BTW Pension is guaranteed. Can the same be said for weekly wages?

                I can't imagine too many retirees on a cruise forum, are in receipt of Pension Credit. It would not be the first time I am wrong.

                Annie
                As far as I know Annie with the ‘new pension’, which I will receive next February, of £179.60 a week, £780.94 per month, £9371.27 per year, you cannot claim pension credit, but I may be wrong. After paying my NI for over 40 years I think the government pension is a disgrace. It’s less than the minimum wage never mind the living wage. Are the older generation worth nothing to this government after all the years we have worked. It doesn’t matter that we have no mortgage and have free bus travel as we still have to pay council tax, increased energy bills as we’re in the house more. As you know Prescriptions in Scotland are free for everybody.

                My wages were guaranteed as lots of people’s are.
                don't want to work, just want to cruise.

                Comment


                  #9
                  Originally posted by andyn, Bucks View Post

                  and......tax, NI, mortgage/rent, transport, childcare, won't be any left.
                  The rise is good news but not enough, people should be paid enough to live without taxpayers having to pay income support because employers do not pay a living wage
                  Not saying the state pension is great but it should not be a race to the bottom. I don't think any pensioner should be complaining about a pay rise for the lowest paid. I understand we have one of the lowest state pensions in Europe

                  ​​​​​​https://www.pensionsage.com/pa/UK-fa...n-rankings.php
                  I don’t think pensioners will complain about the minimum wage rise but they should definitely complain for their pitiful rise. In all honesty how can anyone live on £179.60 per week and pay all their bills? Not everyone has savings or work/private pension.
                  Last edited by Issyalex, Glasgow; 26th October 2021, 12:14 PM.
                  don't want to work, just want to cruise.

                  Comment


                    #10
                    Bottom line is the UK State Retirement Pension Scheme has been woefully underfunded from its inception. Each generation should fund their own pensions. Check out the contribution rates for other Euriopean countries. We cannot continue passing the bill to younger generations.

                    Back to LRR, any increase NMW is paid by employers (who may be the government) but could benefit the government with an increase in Tax Take and reduced WTC bill.

                    Increase to State Pension is paid by the government solely.

                    Annie

                    Comment


                      #11
                      Originally posted by Delboy, Essex View Post


                      Just to say in regards to pension credit, entitlement depends on how much if any savings a person may have, over a certain amount you are then are looking at savings credit, also based on the total amount of savings. Savings credit only available to people who reached State Pension age before 6 April 2016.

                      So you could have low income pensioners, not entitled to pension or savings credits, due to the amount of their savings. Just saying.
                      Thanks Delboy.

                      That would probably explain why so many retirees don't declare all their savings.

                      Annie

                      Comment


                        #12
                        Originally posted by Issyalex, Glasgow View Post

                        As far as I know Annie with the ‘new pension’, which I will receive next February, of £179.60 a week, £780.94 per month, £9371.27 per year, you cannot claim pension credit, but I may be wrong. After paying my NI for over 40 years I think the government pension is a disgrace. It’s less than the minimum wage never mind the living wage. Are the older generation worth nothing to this government after all the years we have worked. It doesn’t matter that we have no mortgage and have free bus travel as we still have to pay council tax, increased energy bills as we’re in the house more. As you know Prescriptions in Scotland are free for everybody.

                        My wages were guaranteed as lots of people’s are.
                        Hi Issy

                        Not everyone works for the State sector with guaranteed pay packets

                        Pensions are low because they were never funded properly.

                        For balance, an adult (over 25) in receipt of Universal Credit receives £324.84 per month.

                        Yes the government could increase State Pension - who pays for it?? Tax Rises everyone!

                        I'm out.

                        Annie

                        Comment


                          #13
                          The minimum pay rise is great, but still not enough. I find it incredible that someone can work full time and still need UC to top up their income. If you work full time you should be on at least £15000pa and paying tax should kick in at a higher rate too.

                          I also find it incredible that someone can earn more from benefits than by doing a full time job. The system is all wrong and needs a massive overhaul. Same with the pension. If you have a massive private pension you shouldn't get the state pension too, and I also don't think it should be paid while the person receiving it is still working. This is only my opinion of course, but hey, what do I know!! ....................................Carol

                          Comment


                            #14
                            Originally posted by andyn, Bucks View Post

                            and......tax, NI, mortgage/rent, transport, childcare, won't be any left.
                            The rise is good news but not enough, people should be paid enough to live without taxpayers having to pay income support because employers do not pay a living wage
                            Not saying the state pension is great but it should not be a race to the bottom. I don't think any pensioner should be complaining about a pay rise for the lowest paid. I understand we have one of the lowest state pensions in Europe

                            ​​​​​​https://www.pensionsage.com/pa/UK-fa...n-rankings.php
                            Another point you should take into account is how many families in the UK and I repeat FAMILIES live on the state and have never worked. Last time I checked it was over 380000 and they receive a lot more benefit than the state pension and in the majority of cases more than the minimum wage and have not paid a penny towards it.

                            Comment


                              #15
                              Whilst increases in the minimum wage are no doubt welcome it is to some extent a double edged sword.

                              a) Inflation increases so the benefit eventually decreases

                              b) Employers look even harder at reducing costs - more "machines" instead of people to carry out tasks, more contracting out, more buying in from lower labour cost countries etc. so jobs disappear completely.

                              We can see it in our common interest, cruising. Less and less human contact and more and more "machine" contact from booking a cruise initially through check-in, booking meals, shows, and excursions to ordering a drink and even a machine serving your drink in some ships. Less and less people employed.

                              The driving force behind this is of course not evil wicked employers but "us" who wont pay more for our goods and services.

                              Comment


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