Reply to: BREAKING: Gorbon Brown robs pension pots!

[AtW]

All the fuss about something some other government will change long before then, especially if the reds get into power next time.

Yeah, the Govts will change for sure, but they sure as heck won't be cancelling tax increases that they can blame on previous Govt...

[Hobosapien]

Wait until after 31 December 2020.....

Make that Feb 2030.

Spending Review: Millions face cut in value of workplace pensions - BBC News

Millions of retirees will see the future value of their pension cut owing to a planned change in the way payments are calculated from 2030.

All the fuss about something some other government will change long before then, especially if the reds get into power next time.

[AtW]

Here is interesting bit - if they go ahead then “top up” will be lower, but they’ll still charge same tax when you get your pension

[AtW]

“ Steven Cameron, of Aegon, said the reform could make a big dent in the future pension pots of higher and additional rate taxpayers unless they increased their contributions. But a higher, flat rate of relief would be in line with the Government’s levelling up rhetoric and be widely seen as a fairer system, Mr Cameron suggested. ”

Level up income tax levels then!

[AtW]

“ A reform of pension tax relief could allow the Government to make billions in savings each year. Earlier this year, the Pensions Policy Institute, a think tank, reported the cost of income tax relief on pension contributions had increased to £9.3bn in 2018 for the Treasury. It estimated that a flat rate of 25pc would reduce that total to £7.3bn. ”

All that for mere 2 bln per year

[AtW]

How many IT contractors does this affect? I would say approx zero.

Higher-rate taxpayers GBP85,000 worse off if Rishi Sunak cuts pensions tax relief

[_V_]

Contractors didn't all start out as contractors, so some will have old final salary pensions if they are old enough.

Covid will finish off those old buggers.

[Old Greg]

Wibble

FTFY

[vetran]

You weren't suggesting that he was asking them what to do. You can't even keep up with yourself.

You borrowed AssGoo;s crayons again?

[Old Greg]

So how would Jezzybell done different? Starmer is a far more competent operator and has supported the Government on most things during the Epidemic. Jezzybell would be asking the IRA etc. what to do.

That be true Jezzy was the leader of a Labour party that was made unelectable for a decade, his actions made Michael Foot look like a winner. His meetings with Hamas & IRA while they were both still murdering the innocent are facts but suggesting he was asking them what to do is obviously a bit of a stretch.

You weren't suggesting that he was asking them what to do. You can't even keep up with yourself.

[SueEllen]

People are so stuck up on pensions when if we were to look at previous 5y the prices have seen a rampant increase, 30% probably in the weekly shopping basket, higher rents while salaries have not increased for probably more than 10y.
This is the real rubbery: INFLATION.

Wait until after 31 December 2020.....

[SueEllen]

How many IT contractors does this affect? I would say approx zero.

Contractors didn't all start out as contractors, so some will have old final salary pensions if they are old enough.

[GigiBronz]

Whose pensions do you think Rishi will rob next?

People are so stuck up on pensions when if we were to look at previous 5y the prices have seen a rampant increase, 30% probably in the weekly shopping basket, higher rents while salaries have not increased for probably more than 10y.
This is the real rubbery: INFLATION.

[AtW]

How many IT contractors does this affect? I would say approx zero.

Whose pensions do you think Rishi will rob next?

[_V_]

Millions of pension savers could lose GBP73k if Rishi Sunak fiddles with inflation

Nice day light robbery, very nice

Millions of savers could see £73,000 wiped off the value of their gold-plated “final salary” pension if the Government presses ahead tomorrow with a change in the way inflation is calculated....

How many IT contractors does this affect? I would say approx zero.