State Pension

[wbaliquidator]

So, the funding for our Pensions has always been basically based on a Ponzi or Pyramid scheme.
Well let’s encourage the youth to breed like crazy then.
Oh, I forgot that most of the births are with the socially dependant. Oh well.
Hang on what about all the various contributions a pensioner has made during their working life. NI Both Employer and Employee then the income Tax, Vat and Business Taxes then other stealth Taxes like moving home etc etc.
Recipients of the state pension appear to be labelled similar to those who collect government handouts via unemployment and other benefits and this is very unfair.
Means test ok but let’s make it for those who have assets over 5 million.

[WBA123]

So, the funding for our Pensions has always been basically based on a Ponzi or Pyramid scheme.
Well let’s encourage the youth to breed like crazy then.
Oh, I forgot that most of the births are with the socially dependant. Oh well.
Hang on what about all the various contributions a pensioner has made during their working life. NI Both Employer and Employee then the income Tax, Vat and Business Taxes then other stealth Taxes like moving home etc etc.
Recipients of the state pension appear to be labelled similar to those who collect government handouts via unemployment and other benefits and this is very unfair.
Means test ok but let’s make it for those who have assets over 5 million.

Your first sentence hit the issue square on, it is like a Ponzi scheme.

If you have paid in your whole life, you haven't put that towards your own pension, you've put it towards those who are current pensioners when you were working. When you receive your pension, that is coming from people who are working today - there is no pot you've built up, that has already been taken.

And the major problem with this, is that people are living longer and birth rates are not increasing.