We rely on our Royal Mail pension because the state one is so poor

Post by **stephen500** » 15 Feb 2018, 07:52

https://www.howtogermany.com/pages/germ ... ement.html" onclick="window.open(this.href);return false;
If I had a German state pension, on retirement my pension would be 67% of my net pay, £16,750 for £25000 net pay (contributory rate 18.7%) In Britain it is £8296 (contributory rate 12%, however this does not just cover pensions) We don't pay enough in or get enough out.
The Germans have their occupational pensions on top of generous state pensions.

Post by **baldrick** » 16 Feb 2018, 02:57

The UK state retirement pension is one of the lowest in the developed world. Pensioners do need a decent company or private pension to avoid poverty in old age.

pensions.jpg

http://www.dailymail.co.uk/news/article ... nsion.html" onclick="window.open(this.href);return false;

Tman · Post by **Tman** » 16 Feb 2018, 10:19

Must be true it's in the Mail.
Would you rather have 29% of the UK wage or 38.6% of the Polish wage? Would you rather be heavily taxed through your working life (as in the Scandinavian countries) to pay for pensions or a lower tax strain on the working population and make people organise their own additional pension top-ups?
Stats again...

heapsy · Post by **heapsy** » 16 Feb 2018, 21:10

Tman wrote:Must be true it's in the Mail.
Would you rather have 29% of the UK wage or 38.6% of the Polish wage? Would you rather be heavily taxed through your working life (as in the Scandinavian countries) to pay for pensions or a lower tax strain on the working population and make people organise their own additional pension top-ups?
Stats again...

Tbh, I would rather have the Scandinavian model. Yes, higher taxes, but far superior pensions and benefits. If you are earning more money, it is easier to be able to afford a higher percentage. And let's face it, topping up your own pension in this country hasn't worked because of all the sly ways in which successive governments of all colours, have undermined the saving / investment culture.

Post by **baldrick** » 17 Feb 2018, 01:43

It should be based on the wages of the country you are living in, as that represents your cost of living. a Polish wage might be lower than UK's, but so is their cost of living, so the pension is still proportionately higher.
UK state pensions used to be higher proportionately, until Thatcher scrapped the increases in line with inflation.

heapsy · Post by **heapsy** » 17 Feb 2018, 14:03

baldrick wrote:It should be based on the wages of the country you are living in, as that represents your cost of living. a Polish wage might be lower than UK's, but so is their cost of living, so the pension is still proportionately higher.
UK state pensions used to be higher proportionately, until Thatcher scrapped the increases in line with inflation.

I agree. Sadly in this country, it is expensive, but earnings and pensions do not reflect that.