Tories on Trident

[minestrone]

I'd agree generally with it, but it would lead to a lot of people making stupid decisions, I think pension/social security taxes should be optional to those who wish to opt out from them but already have means of supporting themselves.

That would be an administrative nightmare above the ability of this country and also it is impossible to prove that you will be able to support yourself in 30 years and therefore should be exempt from pension/social security taxes in the present.

[AtW]

That would be an administrative nightmare above the ability of this country and also it is impossible to prove that you will be able to support yourself in 30 years and therefore should be exempt from pension/social security taxes in the present.

It's easy to administer such things online - of course it's not possible if contracts are awarded to EDS and enture.

The prove you can support yourself can be easy - private pension contributions or salary above certain level: this can be verified by looking at amount of tax paid.

Isn't mean testing support to deny support to those who have too much money left in the bank? Well, then those people should have right to opt out from NI payments.

[minestrone]

It's easy to administer such things online - of course it's not possible if contracts are awarded to EDS and enture.

The prove you can support yourself can be easy - private pension contributions or salary above certain level: this can be verified by looking at amount of tax paid.

Isn't mean testing support to deny support to those who have too much money left in the bank? Well, then those people should have right to opt out from NI payments.

Sure I pay a pension for 40 years and can prove that I am paying in, then the day before I retire the pension company goes bust or all my offhore funds drop 90% in one day. I turn up and ask for a state pension and get told to bugger off so then a 65 year old is living on the streets. It just won't work.

[AtW]

Sure I pay a pension for 40 years and can prove that I am paying in, then the day before I retire the pension company goes bust or all my offhore funds drop 90% in one day.

There should be an option to pay into BoE account, that can also be nominated in multiple currencies to protect onself against devaluation.

I turn up and ask for a state pension and get told to bugger off so then a 65 year old is living on the streets. It just won't work.

I'd say the level of state pension is so small that essentially they tell to everyone to bugger off and live on streets.

[minestrone]

There should be an option to pay into BoE account, that can also be nominated in multiple currencies to protect onself against devaluation.

You are starting to prove my point about an adminstrative nightmare.

[AtW]

You are starting to prove my point about an adminstrative nightmare.

Why should it be admin nightmare? Every taxpayer should have online access to his/her account with a few numbers there, if their bank account worth is higher than X then they get exemption from paying NI - all those people should be expected to fill in tax return anyway as it would be high rate taxpayers who are likely to get such exemption anyway.

Of course that's not going to happen because "the rich" essentially subsidise social security for "the poor".

[HairyArsedBloke]

There should be an option to pay into BoE account, that can also be nominated in multiple currencies to protect onself against devaluation.

Sounds like currency speculation to me.

[AtW]

Sounds like currency speculation to me.

No, it's not speculating - it's proper hedging (not what "hedge" funds do).

Speculation would have been if you used your savings or pension to move them between multiple currencies in a hope to make more money in the process.