Triple lock could be means tested

[soulman101]

Where would they draw the line who gets it.
State pension £185 for the new one, if you get this you don't get pension credit.
Comparing my twin brother and his mate.My brother worked all his life and has no private pension but has saved well over £200k. Has to pay full council tax less 25% because he lives on his own.
His mate has the old pension and has hidden savings, he's on pension credit, free council tax, free dental etc and recieved all cost of living handouts. He was on the dole for years working on the side.
Minimum wage is £400 a week,if they do 40 hrs a lot will only do 12hrs to get universal credit.
Anyone who moans about the triple lock, who are net of state agent pension age, this is also your future pension.
https://uk.yahoo.com/news/pensions-t...173546983.html

[mickd1961]

I’ll be p I s s e d if they do this.

I’ve paid in for 45 years as of next summer, I want everything I’m entitled to.

I’d prefer ME to decide to do what I want with this money!

I’m already having to wait an extra two years until I’m 67 for my pension! 😤

My wife. Evokes a pensioner herself at 66 next week, this pension money is going into a savings account to help fund our grandchildren’s education.

F u c k you Sunak!

[soulman101]

I’ll be p I s s e d if they do this.

I’ve paid in for 45 years as of next summer, I want everything I’m entitled to.

I’d prefer ME to decide to do what I want with this money!

I’m already having to wait an extra two years until I’m 67 for my pension! ��

My wife. Evokes a pensioner herself at 66 next week, this pension money is going into a savings account to help fund our grandchildren’s education.

F u c k you Sunak!

Hi my is 64 so she has got another 2 years before she gets hers.
I've also got my BT pension which rise by5% due to the cap.
I think in this life you can be too honest, we paid £78k in care home fees for Mom and Dad. I retired early to sit with Mom for 5 years and didn't claim a penny.
When Mom had to be in a home for her last 18mths,it seemed that only Mom was paying.The lady who sat by Mom who didn't need to be in there, didn't have to pay yet Brought her both nieces new cars, because she had hidden her money.

[baggieal]

I’ll be p I s s e d if they do this.

I’ve paid in for 45 years as of next summer, I want everything I’m entitled to.

I’d prefer ME to decide to do what I want with this money!

I’m already having to wait an extra two years until I’m 67 for my pension! 😤

My wife. Evokes a pensioner herself at 66 next week, this pension money is going into a savings account to help fund our grandchildren’s education.

F u c k you Sunak!

There must be a very fine line about taxing those considered wealthy too much or taking away what’s rightfully theirs ie the state pension.

Bit like saying and it’s been said by p ricks - take away the charitable status from private schools so fees incur VAT. That would be madness as many who send their kids to private schools consider education to be the best gift you could ever give a child. I know an Indian family who scrimp and save every penny to send their child to a private school so the kid hopefully will become a doctor. Idiots don’t understand the more kids in private schools the better. Tax payers pay around 10K per child for state schools!!!

The government will want the NHS to stay broken ( from a doctor friend ) as more people are now funding private operations as opposed to waiting on 2 or 3 year waiting lists. Why do you think GP’S are like they are? Again it’s because many will go private and fund their own blood tests or MRI scans! Not easy getting MRI scans through a GP now!

Personally I think the government ( rumour ) will soon increase the age again of state pension eligibility to 75!

Free proscriptions will also be challenged by means testing!

The one that riles me is inheritance tax! Those that have assets over the 325 threshold are stupid keeping them until they drop dead unless of course they want their kids to lose 40%.

No such problem for the Sunak’s as they are exempt from inheritance tax on their millions worth of assets. Makes me sick how they get away with it!! I therefore applaud anyone else who cheats the system like the Sunak’s as what’s good for this t wat is good for anyone else!

[mickd1961]

The £325k Inheritance Tax isn’t the true story though.

I’ve just been through this with my mum and our financial adviser.

Dad died 19 years ago so mum inherits his £325k portion and on top of that there’s other allowances as well.

Bottom line is that at least £650k is clear of this tax.

This tax is a disgrace though considering all the tax paid during a lifetime.

[soulman101]

Care home fees are an Inheritance tax on ordinary hard working folks, who don't play the system.
Remember Dodgy Dave and Osbourne flipping their 2nd homes to claim expenses multi millionares squeezing every penny out of the taxpayer.

[baggieal]

The £325k Inheritance Tax isn’t the true story though.

I’ve just been through this with my mum and our financial adviser.

Dad died 19 years ago so mum inherits his £325k portion and on top of that there’s other allowances as well.

Bottom line is that at least £650k is clear of this tax.

This tax is a disgrace though considering all the tax paid during a lifetime.

Wrong as not the case now!! Any assets above the 325 are subject to inheritance tax as going through this now with a family probate. It’s been made very clear from the solicitor dealing with it on our behalf. Even investigations are progressed now from HMRC on an individuals estate if gifting to a family member is within the 7 years time frame!

I know a lovely couple who have just sold their 900,000 house as she’s in a care home and he’s going in there too. Daughters want the best for them and the cost is around 9K for the two of them per month. Not going to be much left of this 900,000 unless they die within five years!!

[westcountryvillain]

A surviving spouse gets £1M before paying any tax, and when they go it is as you say the first £325k that is exempt. I don't think that's a bad deal and if it were any different then the gap would have to be filled from somewhere else.

What boils my blood is the lack of prudence or scrutiny when it comes to awarding govt contracts and how our money is spent, as well as how multinationals are able to avoid paying tax.

In a generation's time, most folk won't own their own home and so inheritance tax revenues are likely to reduce, folk won't have the means to fund care when they can no longer care for themselves. We're sleepwalking into a perfect storm yet again, just like the energy fk-up.

[mickd1961]

Wrong as not the case now!! Any assets above the 325 are subject to inheritance tax as going through this now with a family probate. It’s been made very clear from the solicitor dealing with it on our behalf. Even investigations are progressed now from HMRC on an individuals estate if gifting to a family member is within the 7 years time frame!

I know a lovely couple who have just sold their 900,000 house as she’s in a care home and he’s going in there too. Daughters want the best for them and the cost is around 9K for the two of them per month. Not going to be much left of this 900,000 unless they die within five years!!

That’s wrong.

Every person has a £325k Inheritance Tax allowance.

A couples allowance totals £650k.

If one partner dies in a marriage or in a Civil Partnership the £325k transfers to the surviving partner if non of it has been used at the time of death.

Inheritance Tax isn’t £325k per partnership, it’s £650k.

See Government link below.

Also.....

If you put savings into Bonds these cannot be assessed towards your wealth or be accessed by Local Councils if you ever go into care, something I didn’t know until last week.

https://www.gov.uk/guidance/transfer...nheritance-tax

[baggieal]

That’s wrong.

Every person has a £325k Inheritance Tax allowance.

A couples allowance totals £650k.

If one partner dies in a marriage or in a Civil Partnership the £325k transfers to the surviving partner if non of it has been used at the time of death.

Inheritance Tax isn’t £325k per partnership, it’s £650k.

See Government link below.

Also.....

If you put savings into Bonds these cannot be assessed towards your wealth or be accessed by Local Councils if you ever go into care, something I didn’t know until last week.

https://www.gov.uk/guidance/transfer...nheritance-tax

Yes for a couple so you are right but probably not the case if there’s a separation, divorce or one re-marries