Moghrey Mie Posted May 7, 2019 Share Posted May 7, 2019 3 hours ago, Max Power said: I tend to agree Gizo but the way that wages and conditions have gone, it would indicate that a lot of people are going to go through life with no other pension provision? Buying property is also going to be difficult for some. The sooner we get auto-enrolment here the better. Then everybody will be building up their own nest egg. Link to comment Share on other sites More sharing options...
Manximus Aururaneus Posted May 7, 2019 Share Posted May 7, 2019 1 hour ago, woolley said: This is an old chestnut. These comparisons don't stand up because most countries socialise pensions that would be in the private sector in Britain. I have had a great deal of experience particularly the Southern European economies through business, personal contacts and chatting with natives while living there. I have no idea what agenda is being driven in that FT link, but I can absolutely promise you that pensioners are not laughing and growing fat there on the state pension systems. It's a hand to mouth existence for most. Take Portugal for instance, with a claimed 94% of average income. I know average incomes are nothing to write home about, but that 94% figure for pensioners is, in general, a joke. https://www.expatica.com/pt/finance/retirement/pensions-in-portugal-how-to-get-a-portuguese-pension-105266/ Somebody who should be listened to (but probably won't be). Hey Ho. Twas ever thus Link to comment Share on other sites More sharing options...
Donald Trumps Posted May 8, 2019 Share Posted May 8, 2019 Manx supplement is being phased out I believe Link to comment Share on other sites More sharing options...
GD4ELI Posted May 8, 2019 Share Posted May 8, 2019 16 hours ago, woolley said: This is an old chestnut. These comparisons don't stand up because most countries socialise pensions that would be in the private sector in Britain. I have had a great deal of experience particularly in the Southern European economies through business, personal contacts and chatting with natives while living there. I have no idea what agenda is being driven in that FT link, but I can absolutely promise you that pensioners are not laughing and growing fat there on the state pension systems. It's a hand to mouth existence for most. Take Portugal for instance, with a claimed 94% of average income. I know average incomes are nothing to write home about, but that 94% figure for pensioners is, in general, a joke. https://www.expatica.com/pt/finance/retirement/pensions-in-portugal-how-to-get-a-portuguese-pension-105266/ Also they don't take things such as health care into consideration, you only needs 35 years' contributions to qualify for the full pension. Add on free bus passes, TV licences and it's not as bad as it may seem. I'm half a field from the local bus stop. When I hit 65 in ~ 3 years I'll be able to take the mutt and travel around Cornwall all day for free. That's worth a grand at least. Health care is not as bad as some make out as well. Link to comment Share on other sites More sharing options...
woolley Posted May 8, 2019 Share Posted May 8, 2019 On 5/8/2019 at 11:20 AM, Donald Trumps said: Manx supplement is being phased out I believe Yes. At 5% per year for each year's new pensioner cohort until it is down to zero in 20 years time. You keep the rate you start on though, so if you were in the last year that had the full supplement you will receive it until you die. Totally unfair of course, but that is the situation. Link to comment Share on other sites More sharing options...
Manx Veteran Posted June 18, 2019 Author Share Posted June 18, 2019 Now I got your attention now read it again Link to comment Share on other sites More sharing options...
Bobbie Bobster Posted June 19, 2019 Share Posted June 19, 2019 Double space before the second instance of the word now. No full stop at the end of the sentence. "Now that I have" instead of "Now I got" The second "now" is repetitive and superfluous. Link to comment Share on other sites More sharing options...
Manx Veteran Posted September 3, 2019 Author Share Posted September 3, 2019 On 5/7/2019 at 5:22 AM, GD4ELI said: I'm coming to the conclusion that we should pay NI when retired. Maybe at a lower rate as has been suggested elsewhere, but pay it we must. NI is nothing to do with the Manx state pension it all changed on 3rd Dec 2018 NI is only for Social Security and Health the Manx State pensions payments go to the Treasury Link to comment Share on other sites More sharing options...
Neil Down Posted September 3, 2019 Share Posted September 3, 2019 8 minutes ago, Manx Veteran said: NI is nothing to do with the Manx state pension it all changed on 3rd Dec 2018 NI is only for Social Security and Health the Manx State pensions payments go to the Treasury that was a quick response... Link to comment Share on other sites More sharing options...
John Wright Posted September 3, 2019 Share Posted September 3, 2019 26 minutes ago, Manx Veteran said: NI is nothing to do with the Manx state pension it all changed on 3rd Dec 2018 NI is only for Social Security and Health the Manx State pensions payments go to the Treasury What are the Manx State Pension Payments? Link to comment Share on other sites More sharing options...
John Wright Posted September 3, 2019 Share Posted September 3, 2019 10 minutes ago, MrPB said: You mean that they are keeping more of the NI paid by us all to help them pay out on PS pensions from treasury by pretending to direct payment to treasury in respect of other people’s state pension credits. As far as I’m aware there is no change, NI is paid into the Manx NI Fund ( except for a small bit which goes to health ) and is ringfenced and used to pay Manx Pensions, Pension Supplements and will be used to pay the new Manx Pension. If there’s a surplus it’s retained. If there’s a shortfall capital is used. None of it goes towards PS pensions. Link to comment Share on other sites More sharing options...
asitis Posted September 3, 2019 Share Posted September 3, 2019 33 minutes ago, John Wright said: As far as I’m aware there is no change, NI is paid into the Manx NI Fund ( except for a small bit which goes to health ) and is ringfenced and used to pay Manx Pensions, Pension Supplements and will be used to pay the new Manx Pension. If there’s a surplus it’s retained. If there’s a shortfall capital is used. None of it goes towards PS pensions. Unless of course it pays for "free hospitals" LOL !! Link to comment Share on other sites More sharing options...
John Wright Posted September 3, 2019 Share Posted September 3, 2019 13 minutes ago, asitis said: Unless of course it pays for "free hospitals" LOL !! That took a specific legislative act. The fund, by accident rather than design, was in surplus. It paid for a health facility, not a PS Pension. Link to comment Share on other sites More sharing options...
finlo Posted September 3, 2019 Share Posted September 3, 2019 10 minutes ago, John Wright said: That took a specific legislative act. The fund, by accident rather than design, was in surplus. It paid for a health facility, not a PS Pension. It won't be long until it is though! Link to comment Share on other sites More sharing options...
John Wright Posted September 3, 2019 Share Posted September 3, 2019 Do you think so. It was the right thing to do, but Bernie May paid the political price. It would be so unpopular as to be unthinkable. There are plenty of ways of resolving matters, predominantly by monetising assets and making them perform, but not flogging them off, and by closing down or trimming the biggest drains on finances. Link to comment Share on other sites More sharing options...
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