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Eurozone inflation hits 10.7%
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By (user no longer on site) OP
over a year ago
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So inflation in the Eurozone has hit 10.7%, its highest ever recorded level.
Meanwhile the President of the Confederation of German Employers Association predicts that the German state pension scheme is "on the verge of collapse".
Blackouts for business, enforced temperature limits, funding Russia's war in Ukraine.
Isn't it time that the UK rejoined the EU to take advantage of all of the fruits of EU membership? |
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"So inflation in the Eurozone has hit 10.7%, its highest ever recorded level.
Meanwhile the President of the Confederation of German Employers Association predicts that the German state pension scheme is "on the verge of collapse".
Blackouts for business, enforced temperature limits, funding Russia's war in Ukraine.
Isn't it time that the UK rejoined the EU to take advantage of all of the fruits of EU membership?"
Yes please. |
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By (user no longer on site)
over a year ago
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"So inflation in the Eurozone has hit 10.7%, its highest ever recorded level.
Meanwhile the President of the Confederation of German Employers Association predicts that the German state pension scheme is "on the verge of collapse".
Blackouts for business, enforced temperature limits, funding Russia's war in Ukraine.
Isn't it time that the UK rejoined the EU to take advantage of all of the fruits of EU membership?"
Yes, but we won’t , they don’t want us back  |
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By *eroy1000Man
over a year ago
milton keynes |
"So inflation in the Eurozone has hit 10.7%, its highest ever recorded level.
Meanwhile the President of the Confederation of German Employers Association predicts that the German state pension scheme is "on the verge of collapse".
Blackouts for business, enforced temperature limits, funding Russia's war in Ukraine.
Isn't it time that the UK rejoined the EU to take advantage of all of the fruits of EU membership?"
The German state pension on verge of collapse sounds scary. Can a state pension scheme go under given it has the backing of the state? Not saying your wrong, it just doesn't sound likely. The blackouts seem a danger but hear the German government had a huge subsidy plan in place costing many billions. |
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By *irldnCouple
over a year ago
Brighton |
Scary stuff. Needs to be watched. Not that these are the only factors that merited being in/out of the EU mind you.
In the words of our resident sage Pat... “there will be bumps in the road but the destination will be glorious” so might just be a blip! |
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By *irldnCouple
over a year ago
Brighton |
"Why would we rejoin the EU given all the benefits we've realised since leaving ?
(That's called sarcasm)
We've had more prime ministers than brexit benefits.
"
Even if we had only had ONE prime minister it would have been more PMs then brexit benefits. JRM had a non-job! |
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By *I TwoCouple
over a year ago
PDI 12-26th Nov 24 |
"Why would we rejoin the EU given all the benefits we've realised since leaving ?
(That's called sarcasm)
We've had more prime ministers than brexit benefits.
Even if we had only had ONE prime minister it would have been more PMs then brexit benefits. JRM had a non-job!"
I did actually think of one real benefit of brexit |
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By (user no longer on site)
over a year ago
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"So inflation in the Eurozone has hit 10.7%, its highest ever recorded level.
Meanwhile the President of the Confederation of German Employers Association predicts that the German state pension scheme is "on the verge of collapse".
Blackouts for business, enforced temperature limits, funding Russia's war in Ukraine.
Isn't it time that the UK rejoined the EU to take advantage of all of the fruits of EU membership?
The German state pension on verge of collapse sounds scary. Can a state pension scheme go under given it has the backing of the state? Not saying your wrong, it just doesn't sound likely. The blackouts seem a danger but hear the German government had a huge subsidy plan in place costing many billions. "
it's almost the same as ours. It's unsustainable in its current form given the aging population. Nothing to do with Germany being in the EU, or the euro.
I'd not use the word collapse. Like ours it probably needs an element of reform.
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By *eroy1000Man
over a year ago
milton keynes |
"So inflation in the Eurozone has hit 10.7%, its highest ever recorded level.
Meanwhile the President of the Confederation of German Employers Association predicts that the German state pension scheme is "on the verge of collapse".
Blackouts for business, enforced temperature limits, funding Russia's war in Ukraine.
Isn't it time that the UK rejoined the EU to take advantage of all of the fruits of EU membership?
The German state pension on verge of collapse sounds scary. Can a state pension scheme go under given it has the backing of the state? Not saying your wrong, it just doesn't sound likely. The blackouts seem a danger but hear the German government had a huge subsidy plan in place costing many billions. it's almost the same as ours. It's unsustainable in its current form given the aging population. Nothing to do with Germany being in the EU, or the euro.
I'd not use the word collapse. Like ours it probably needs an element of reform.
"
I thought he meant the German state pension was in trouble due to recent events and the inflation in the EU being high. If it's a more underlying problem then that is a concern. |
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"I saw a debate yesterday about the possible means testing of pensions.
Revolved around the triple lock and how it was getting unstainable."
So will that mean that people that have led a responsible life, behaved, worked hard, lived within their means and saved a few Bob, paid into the system for 50+ years be penalised?
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By *ercuryMan
over a year ago
Grantham |
"I saw a debate yesterday about the possible means testing of pensions.
Revolved around the triple lock and how it was getting unstainable.
So will that mean that people that have led a responsible life, behaved, worked hard, lived within their means and saved a few Bob, paid into the system for 50+ years be penalised?
"
It's an emotive subject. It was suggested that the extra money that Mick Jagger would get, would be better off going to the young. |
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By *eroy1000Man
over a year ago
milton keynes |
"So inflation in the Eurozone has hit 10.7%, its highest ever recorded level.
Meanwhile the President of the Confederation of German Employers Association predicts that the German state pension scheme is "on the verge of collapse".
Blackouts for business, enforced temperature limits, funding Russia's war in Ukraine.
Isn't it time that the UK rejoined the EU to take advantage of all of the fruits of EU membership?"
Just seen an article that reports the ECB warn that they will most likely have to raise interest rates to fight inflation. Seems to be a popular way but also risky |
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By *irldnCouple
over a year ago
Brighton |
"Why would we rejoin the EU given all the benefits we've realised since leaving ?
(That's called sarcasm)
We've had more prime ministers than brexit benefits.
Even if we had only had ONE prime minister it would have been more PMs then brexit benefits. JRM had a non-job!
I did actually think of one real benefit of brexit"
Oh go on then! |
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"I saw a debate yesterday about the possible means testing of pensions.
Revolved around the triple lock and how it was getting unstainable.
So will that mean that people that have led a responsible life, behaved, worked hard, lived within their means and saved a few Bob, paid into the system for 50+ years be penalised?
It's an emotive subject. It was suggested that the extra money that Mick Jagger would get, would be better off going to the young."
Or to me? |
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By *irldnCouple
over a year ago
Brighton |
"I saw a debate yesterday about the possible means testing of pensions.
Revolved around the triple lock and how it was getting unstainable.
So will that mean that people that have led a responsible life, behaved, worked hard, lived within their means and saved a few Bob, paid into the system for 50+ years be penalised?
"
Probably. That is the inherent problem with a ponzi scheme. You need increasing numbers of new joiners at the bottom paying their fees to fund those at or nearing the top.
You only have three options:
1. Decrease the amount those at the top get.
2. Increase the amount those at the bottom have to pay.
3. Have more people entering at the bottom.
Point three is impossible when you have indigenous negative population growth. Leaving the only way forward being increased immigration. |
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"I saw a debate yesterday about the possible means testing of pensions.
Revolved around the triple lock and how it was getting unstainable.
So will that mean that people that have led a responsible life, behaved, worked hard, lived within their means and saved a few Bob, paid into the system for 50+ years be penalised?
"
I'd like to hope that any means testing would be fair. Someone paying taxes and earning 40k and is lucky enough to retire on 20k work pension should still be entitled to full state pension. However, 50k pension..do they really need the state pension too? 100k? |
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"I saw a debate yesterday about the possible means testing of pensions.
Revolved around the triple lock and how it was getting unstainable.
So will that mean that people that have led a responsible life, behaved, worked hard, lived within their means and saved a few Bob, paid into the system for 50+ years be penalised?
I'd like to hope that any means testing would be fair. Someone paying taxes and earning 40k and is lucky enough to retire on 20k work pension should still be entitled to full state pension. However, 50k pension..do they really need the state pension too? 100k?"
Do you know the current level of state pension? |
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"I saw a debate yesterday about the possible means testing of pensions.
Revolved around the triple lock and how it was getting unstainable.
So will that mean that people that have led a responsible life, behaved, worked hard, lived within their means and saved a few Bob, paid into the system for 50+ years be penalised?
I'd like to hope that any means testing would be fair. Someone paying taxes and earning 40k and is lucky enough to retire on 20k work pension should still be entitled to full state pension. However, 50k pension..do they really need the state pension too? 100k?
Do you know the current level of state pension? "
Not to the nearest penny. Why? |
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"I saw a debate yesterday about the possible means testing of pensions.
Revolved around the triple lock and how it was getting unstainable.
So will that mean that people that have led a responsible life, behaved, worked hard, lived within their means and saved a few Bob, paid into the system for 50+ years be penalised?
I'd like to hope that any means testing would be fair. Someone paying taxes and earning 40k and is lucky enough to retire on 20k work pension should still be entitled to full state pension. However, 50k pension..do they really need the state pension too? 100k?
Do you know the current level of state pension?
Not to the nearest penny. Why?"
I wondered where you get the 100k figure? |
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"I saw a debate yesterday about the possible means testing of pensions.
Revolved around the triple lock and how it was getting unstainable.
So will that mean that people that have led a responsible life, behaved, worked hard, lived within their means and saved a few Bob, paid into the system for 50+ years be penalised?
I'd like to hope that any means testing would be fair. Someone paying taxes and earning 40k and is lucky enough to retire on 20k work pension should still be entitled to full state pension. However, 50k pension..do they really need the state pension too? 100k?
Do you know the current level of state pension?
Not to the nearest penny. Why?
I wondered where you get the 100k figure?"
Did you think i thought the state pension was £100k?!?
I am talking about a work pension. Does someone with a huge pension need another £185.15 a week? |
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"I saw a debate yesterday about the possible means testing of pensions.
Revolved around the triple lock and how it was getting unstainable.
So will that mean that people that have led a responsible life, behaved, worked hard, lived within their means and saved a few Bob, paid into the system for 50+ years be penalised?
I'd like to hope that any means testing would be fair. Someone paying taxes and earning 40k and is lucky enough to retire on 20k work pension should still be entitled to full state pension. However, 50k pension..do they really need the state pension too? 100k?
Do you know the current level of state pension?
Not to the nearest penny. Why?
I wondered where you get the 100k figure?
Did you think i thought the state pension was £100k?!?
I am talking about a work pension. Does someone with a huge pension need another £185.15 a week?"
Possibly be me being a bit thick but I read it that if they get a 50k private pension, then with the state pension this totals 100k. I guess that’s not what you meant? |
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By *eroy1000Man
over a year ago
milton keynes |
"I saw a debate yesterday about the possible means testing of pensions.
Revolved around the triple lock and how it was getting unstainable.
So will that mean that people that have led a responsible life, behaved, worked hard, lived within their means and saved a few Bob, paid into the system for 50+ years be penalised?
Probably. That is the inherent problem with a ponzi scheme. You need increasing numbers of new joiners at the bottom paying their fees to fund those at or nearing the top.
You only have three options:
1. Decrease the amount those at the top get.
2. Increase the amount those at the bottom have to pay.
3. Have more people entering at the bottom.
Point three is impossible when you have indigenous negative population growth. Leaving the only way forward being increased immigration."
A slight problem with point 3 is by increasing the amount of people at the bottom (by immigration or whatever) makes the problem worse later on. Because they will one day be at the top, which will be a much larger top layer than now |
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"I saw a debate yesterday about the possible means testing of pensions.
Revolved around the triple lock and how it was getting unstainable.
So will that mean that people that have led a responsible life, behaved, worked hard, lived within their means and saved a few Bob, paid into the system for 50+ years be penalised?
I'd like to hope that any means testing would be fair. Someone paying taxes and earning 40k and is lucky enough to retire on 20k work pension should still be entitled to full state pension. However, 50k pension..do they really need the state pension too? 100k?
Do you know the current level of state pension?
Not to the nearest penny. Why?
I wondered where you get the 100k figure?
Did you think i thought the state pension was £100k?!?
I am talking about a work pension. Does someone with a huge pension need another £185.15 a week?
Possibly be me being a bit thick but I read it that if they get a 50k private pension, then with the state pension this totals 100k. I guess that’s not what you meant? "
No. £50k plus 52 x £185.15 
It could easily be phased out just like child benefit which decreases between 50k and 60k (I think!!) |
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By (user no longer on site)
over a year ago
|
"I saw a debate yesterday about the possible means testing of pensions.
Revolved around the triple lock and how it was getting unstainable.
So will that mean that people that have led a responsible life, behaved, worked hard, lived within their means and saved a few Bob, paid into the system for 50+ years be penalised?
Probably. That is the inherent problem with a ponzi scheme. You need increasing numbers of new joiners at the bottom paying their fees to fund those at or nearing the top.
You only have three options:
1. Decrease the amount those at the top get.
2. Increase the amount those at the bottom have to pay.
3. Have more people entering at the bottom.
Point three is impossible when you have indigenous negative population growth. Leaving the only way forward being increased immigration.
A slight problem with point 3 is by increasing the amount of people at the bottom (by immigration or whatever) makes the problem worse later on. Because they will one day be at the top, which will be a much larger top layer than now"
it is kicking the can down the road.
We probably need to reset what the promise being made was and is. Ppl see it as a right to retire at 65 do grumble when they don't get it until 67. Imo the state pension age is more supporting you in the last few years so the age should have moved in line with longevity improvements. It's a state insurance scheme not a state investment scheme. (Which can be done if needed). |
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By *eroy1000Man
over a year ago
milton keynes |
"I saw a debate yesterday about the possible means testing of pensions.
Revolved around the triple lock and how it was getting unstainable.
So will that mean that people that have led a responsible life, behaved, worked hard, lived within their means and saved a few Bob, paid into the system for 50+ years be penalised?
Probably. That is the inherent problem with a ponzi scheme. You need increasing numbers of new joiners at the bottom paying their fees to fund those at or nearing the top.
You only have three options:
1. Decrease the amount those at the top get.
2. Increase the amount those at the bottom have to pay.
3. Have more people entering at the bottom.
Point three is impossible when you have indigenous negative population growth. Leaving the only way forward being increased immigration.
A slight problem with point 3 is by increasing the amount of people at the bottom (by immigration or whatever) makes the problem worse later on. Because they will one day be at the top, which will be a much larger top layer than nowit is kicking the can down the road.
We probably need to reset what the promise being made was and is. Ppl see it as a right to retire at 65 do grumble when they don't get it until 67. Imo the state pension age is more supporting you in the last few years so the age should have moved in line with longevity improvements. It's a state insurance scheme not a state investment scheme. (Which can be done if needed)."
I think it is not only kicking the can down the road but also making the can many times bigger in the process |
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No so much collapse.
Makingndirect comparisons with other countries and how they contribute to pensions is difficult ( as it is with tax)
As an example. The uk pension deficit is about £2trn for the state pension.
In this calculation you are essentially saying you believe you won't have enough workers paying the national insurance to cover the state pension.
In the 50s/60s it was about 4 workers in the uk to every pensioner its now 2, with a life expectancy of 67(if i remember and you retired at 65 for women i think 60 until the waspi act)
Along came the nhs and the average life expectancy boomed. From 67 to 81 an extra 14 years. For 50 years however consecutive uk governments didn't adapt to this ever increasing number. Until we end up with a 2trn black hole whereby we don't have enough contribution to pay the pensions and so debt is taken on, and its only going to get worse.
The nhs was a great invention. But sadly the minds for the last 50/60 didn't account for pensions when life expectancy grew.
I imagine Germany is experiencing tbe same. As I say they may do their pensions differently so can't directly compare. But fkr 30 years Germany has suffered a problem in thay its birth rates have been staggeringly low hence they have many migrants come in( a lot from turkey) to work
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By *JB1954Man
over a year ago
Reading |
"I saw a debate yesterday about the possible means testing of pensions.
Revolved around the triple lock and how it was getting unstainable.
So will that mean that people that have led a responsible life, behaved, worked hard, lived within their means and saved a few Bob, paid into the system for 50+ years be penalised?
I'd like to hope that any means testing would be fair. Someone paying taxes and earning 40k and is lucky enough to retire on 20k work pension should still be entitled to full state pension. However, 50k pension..do they really need the state pension too? 100k?
Do you know the current level of state pension?
Not to the nearest penny. Why?
I wondered where you get the 100k figure?
Did you think i thought the state pension was £100k?!?
I am talking about a work pension. Does someone with a huge pension need another £185.15 a week?
Possibly be me being a bit thick but I read it that if they get a 50k private pension, then with the state pension this totals 100k. I guess that’s not what you meant? "
I am a pensioner . Where are these figures coming from. £50K company pension. I was earning well above national wages etc. Yet my company / private pensions get no where near £50K. Plus the company / private pensions I get now are taxed at by my calculations 20%. Total pensions including state one after tax per year is approx £18,000 after tax . I do not know anyone who gets £50 in private/ company pensions. |
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