Carryfast:
So the government tells you that male life expectancy is 85 + and you believe it.
Does it? Where? Isn’t our average life expectancy 77? In fact recently it was in news that the first generation with a likely life expectancy lower than their parents had just been born
Yep a government agency calling itself ‘independent’ tells us that we’re all under estimating our life expectancy.You know the same government that controls the state pension system and which has a financial interest in minimising its payout regime.While maximising income revenues which can therefore be used to offset its taxation requirement thereby minimising income tax exposure for the highest earners.Why wouldn’t pension claimants want to trust them by deferring their retirement and supporting compulsory retirement age increases.Turkeys voting for Christmas.
Carryfast:
So the government tells you that male life expectancy is 85 + and you believe it.
Does it? Where? Isn’t our average life expectancy 77? In fact recently it was in news that the first generation with a likely life expectancy lower than their parents had just been born
Yep a government agency calling itself ‘independent’ tells us that we’re all under estimating our life expectancy.You know the same government that controls the state pension system and which has a financial interest in minimising its payout regime.While maximising income revenues which can therefore be used to offset its taxation requirement thereby minimising income tax exposure for the highest earners.Why wouldn’t pension claimants want to trust them by deferring their retirement and supporting compulsory retirement age increases.Turkeys voting for Christmas. [emoji38]
If the ONS were getting life expectancy wrong, I reckon the actuaries of the pension companies, among others, would call them out.
The ONS etc always kept their heads down in an effort to stay neutral. Until that is Sir David Norgrove of the UK Statistics Authority spoke out about a certain Mr Johnson and his persisting in misuse of false figures: yep, that £350m lie.
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And there is another little quirk with the figures.
A boy born today in the UK has a life expectancy of about 80yrs.
A male approaching 65yrs is advised a continuing life expectancy of about 18yrs.
This doesn’t mean that kids born today have a shorter probable life expectancy. Those new borns run the risk of cot deaths, childhood mortality, teenage stupidity, war service etc. Those who achieve 65 have already avoided those risks.
Bit more to it, but that’s the bones.
Try dividing your pension pot by the number of theoretical years you are told you will live past retirement.Then compare that with the amount the pension company is proposing to pay you each year. The pension companies are raking it in.
cav551:
Try dividing your pension pot by the number of theoretical years you are told you will live past retirement.Then compare that with the amount the pension company is proposing to pay you each year. The pension companies are raking it in.
Good comment.
Having private companies make excessive profits is not justifiable.
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If only we had some sort of proper scheme for National Insurance? Or maybe some sort of scheme whereby all the population pay into a lot for health benefits?
Private individuals skimming cash from retirement or health funds, profiting from the essential needs of us all? No thanks.
Not a good idea to retire later to get the extra cash later , that cash could push you above your personal tax allowance , bingo hmrc take 20% off you even if you don’t have any private pensions . If you have private pensions as well that is 20% tax on the whole lot . At least your winter fuel allowance pays a bit of it .
