Fury over bid to cut pension payments by 25pc

[milanbenes]

Fury over bid to cut pension payments by 25pc - Telegraph


'Pension changes that could lead to millions of private sector workers losing up to a quarter of their retirement income have been strongly criticised. '


they go on to say, and I must admit I didn't quite understand this bit....


'The average occupational pension pays £1,600 a year. Twenty years of increases at the RPI's current 4.5 per cent would take that to £3,692.

But the same sum increased by the CPI's 3.2 per cent a year would be £2,910. ',


are they saying the average pension pays only £1,600 per year ? how do the old folks live on that, or have they got their numbers wrong ?

I've heard of final salary, but if average salary is about £20,000 per year, then £1,600 is like 10% of final salary pension !!


anyway, the main point I take from the article is, as the article shows, that's what happens when you trust somebody else with your destiny

Milan.

[xoggoth]

Beats me. I hardly ever bothered with a pension and still ended up with far more than that, about enough to live on, although it's just as well the missus was a teacher.

[Ignis Fatuus]

'The average occupational pension pays £1,600 a year. Twenty years of increases at the RPI's current 4.5 per cent would take that to £3,692.

But the same sum increased by the CPI's 3.2 per cent a year would be £2,910. ',


are they saying the average pension pays only £1,600 per year ? how do the old folks live on that ?

Yes, they are saying that.

Not very well. That's why the difference is important to them.

[doodab]

Thanks Maggie, another stunningly good idea of yours you toss pot.

FTFY

[contractor79]

CPI or RPI? Whatever is cheaper for them. You mugs voted for these politicians. Some of us tried to warn you. Next time many of you mugs will go back to vote Labour. You'll never learn. Then when you're old you'll complain you can't afford your heating bill as they steal your house when you go into a care home.

[contractor79]

The Sainted Margaret may have introduced the private pension, but Gordon is the one who stole £5e9 out every year.

When are you people going to understand that all of them con you, steal from you, lie to you? Yet you keep on voting for them.

[Spacecadet]

I wonder if it's possible for a UK resident to get a Dutch pension

http://www.telegraph.co.uk/finance/p...-go-Dutch.html

[xoggoth]

I'd sooner stick pins in my eyes.

That's easy for you giant aliens to say, you probably have lots of spares or can grow some more.