These are the world's best (and worst) pension systems

[kingdong]

1 hour ago, murraynz said:

At 65yrs,i got $1748 each 28 days from no govt.

With freehold condo, I can live quite comfortably on that in Pattaya. 

Fortunately I have substantial passive income from property investments in NZ. This pays for holidays or anything else. 

At 68 ,I expect to live another 25yrs.

The income will be ongoing, not reducing, like those who try to live off savings. 

The next 10yrs are important, so I increase my spending each year. Young Thai girlfriends share it.

They help to keep me young. 

This post is about state pensions,not your personal finances.

[pegman]

2 minutes ago, kingdong said:

This post is about state pensions,not your personal finances.

Where does the OP say it is about only state pensions? The link paywall.

[kingdong]

3 hours ago, chrisandsu said:

Even when owning a house you will always have to pay property tax (or council tax in the uk) the uk pension is close to half of the Dutch pension and I think you have to be 70 to get it now ! No wonder they want to leave the Eu . The worst pension in the union by quite some distance . 

And when you pay your council tax in the uk a large chunk of it go,'es  towards propping up the gold plated pensions and early retirement payments given to cival  servants who retire at 50.

[kingdong]

4 minutes ago, pegman said:

Where does the OP say it is about only state pensions? The link paywall.

I get a right lump of money every week,I was a builder and employed migrant labour illegally and didn,t pay sweet fa tax,my retirement is rosy,i,ve never had it so good.

[Emdog]

1 hour ago, Skallywag said:

Do not think $2300 a month is chump change.  Studies show that american private sector employees paid in over $3000 a month on average during our working years, so you would think that is what we would get in retirement.  Yet those of us who worked in the private sector are also funding pensions/social security for all "Government" workers.  The money they make and pay in is all from taxpayers, and then they retire AND receive pensions all funded by private sector tax payers.  Then you have all the Veterans receiving pensions AND social security that they paid into with "other peoples money"    Below is an interesting article related to this

$5.2 Trillion Of Government Pension Debt...2019

https://www.forbes.com/sites/chuckdevore/2019/05/31/5-2-trillion-of-government-pension-debt-threatens-to-overwhelm-state-budgets-taxpayers/#1bcd540e759d

It's chump change if you live in USA. I was a teacher and paid social security and all that from my wages. In order to get veterans benefits, you have to be a veteran (duh).

Medicare does NOT cover citizens abroad. I still get to pay into it, lucky me. Many have "supplemental coverage (medigap)" added cost, average of $1,700/year, as medicare nowhere near what citizens get in countries like Canada.

Social security has expanded over the years to include handicapped and disabled. Lots of fraud there, for sure. I suppose supporting those who can't work through no fault of their own boils down to what you think our government and our society should be.

[steve187]

42 minutes ago, chrisandsu said:

I have often wondered how women are not asking for equality when it comes to pension age ? They pay less in and get to retire earlier . Also live longer ! Surely it should be the other way around ?

they did, women are or will be in a few years on a par with men, contributions, age and having to earn thier own pension with a minimum of 10 years contributions, my wife will need to be 66 and 3 months to get hers, please keep up

[RichardColeman]

5 hours ago, webfact said:

Thailand was in the bottom slot and should introduce a minimum level of mandatory retirement savings and increase support for the poorest, the report said.

Yeah, but if you turn it upside down they are top !

[murraynz]

25 minutes ago, kingdong said:

This post is about state pensions,not your personal finances.

duh...a typing error indicated that i get 'no' govt pension---it was meant to read $1748 NZ govt pension... i have had to live 45 yrs in NZ {20-65}to be eligible for this to be transfered overseas 'non taxed'

[Srikcir]

4 hours ago, chrisandsu said:

I’m not sure if 75k baht is chump change . Don’t you also get Medicade that pays for your medical even when living abroad ? 

In most cases, the Medicare and Medicaid programs will not cover healthcare services that you receive while traveling outside of the United States. But, there are some exceptions.

https://wheelchairtravel.org/international-travel/medicare-medicaid-coverage-outside-united-states/

[chrisandsu]

38 minutes ago, edwinchester said:

So the British voted to leave the EU to receive better State Pensions and pay less Council Tax? What a ridiculous idea.

How does the Dutch being in the EU and getting a much better pension square with that?

It’s as ridiculous as being in the EU and having the lowest pension Out of all the major states while making the highest payments into the EU fund . Who would believe how stupid that could sound right ? 

[a3tsw]

5 hours ago, sunnyboy2018 said:

The max UK state pension is about 7500k which is not enough to live off.

Not correct , my UK State Pension is/was/will be

£10,032 for 2018-19

£10,289 for 2019-20

£10,691 for 2020-21

[steve187]

12 minutes ago, a3tsw said:

Not correct , my UK State Pension is/was

£10,032 for 2018-19

£10,289 for 2019-20

£10,691 for 2020-21

lots of 2nd/additional state pension in those figures and pre 2016, not the norm

[IAMHERE]

4 hours ago, chrisandsu said:

I’m not sure if 75k baht is chump change . Don’t you also get Medicade that pays for your medical even when living abroad ? 

no

 

[sandyf]

5 hours ago, sunnyboy2018 said:

The max UK state pension is about 7500k which is not enough to live off.

Not true. State pension is £168.60/wk which equates to £8767 /year. What you actually get depends on personal circumstances and some get a lesser amount because they paid into another scheme from which they also get an income.

If it is enough to live on is a different matter altogether and is consistent with government policy of forcing people to provide for their own retirement.

That along with the UK government policy on frozen pensions must rank it as the worst state pension provider in the world.

[Baerboxer]

4 hours ago, chrisandsu said:

Even when owning a house you will always have to pay property tax (or council tax in the uk) the uk pension is close to half of the Dutch pension and I think you have to be 70 to get it now ! No wonder they want to leave the Eu . The worst pension in the union by quite some distance . 

 

Indeed. The way UK pensioners are treated is appalling.

 

But that nice socialist Mr. Kinnock gets around GBP 1.7 million pension per year; and Mr Corbyn gets over 1m I believe.

 

See it's not all bad news ????

[Chomper Higgot]

1 hour ago, kingdong said:

£162 @ week?you having a giraffe?pity the uk spends so much on eu contributions and tax credits so overseas firms such as uber can set up shop here,not pay a brass razoo  in tax ( in ubers case preferring to pay it in holland) then state their workers are self employed (despite uk court rulings to the contrary) so the British taxpayer ends up subsidising them in tax credits to their employees (payable by British taxpayers) to the detriment of our oaps.

Again, I’ll refer you to what Trump has to say about the UK taxing US companies and the implications for any post Brexit US/UK trade deal.

[Thingamabob]

5 hours ago, sirineou said:

Sorry not British. But is that pound and per year?

And, as of next April, the UK government is abolishing the dependants' allowance. Tough times for many Brirish people.

[wwest5829]

5 hours ago, Damrongsak said:

I just applied for Social Security in the US, as I turned 66.  I could have taken a lesser amount at 62 but didn't.  I'm supposed to get about $2,300 USD per month before tax, which is chump change these days. Glad I have a pretty big piggy bank that I've been stuffing all these years.  Never did have a job that had a retirement plan. 

Yep, that is my retirement budget per month after 41 years. My fault, I chose to be an American educator. SS is about half ($1292) of my required 65K baht per month to be allowed to stay retired in Thailand.

[sandyf]

1 hour ago, kingdong said:

pity the uk spends so much on eu contributions

Give over with the false information trying to make a point.

The NI contributions plus about 12% of income tax go on funding pensions and 0.72% of income tax goes to the EU.

Do some homework before making inaccurate statements.

Pensions could have been doubled and income tax cut with the money spent on brexit, a cost to the country that will never be truly established.

[Chomper Higgot]

1 hour ago, kingdong said:

And when you pay your council tax in the uk a large chunk of it go,'es  towards propping up the gold plated pensions and early retirement payments given to cival  servants who retire at 50.

I see, trigger the spite and envy, you don’t have a good pension so nobody else should.

 

How about livable pensions for all, and seeing civil servants as working people rather than someone to envy.

 

You are being manipulated in the age old ‘divide and rule’. 

 

Incidentally, the reason why civil servants get good pensions is because it’s a means to combat corruption. If a civil servant is dismissed for corruption, criminal or gross misconduct they lose their pension.

 

The whole promotion, responsibility and accountability system within the civil service is designed to ensure civil servants don’t get any real power until they have so much skin in the game they dare not step out of line. You can thank Samuel Pepys for this.

 

[chrisandsu]

1 hour ago, steve187 said:

they did, women are or will be in a few years on a par with men, contributions, age and having to earn thier own pension with a minimum of 10 years contributions, my wife will need to be 66 and 3 months to get hers, please keep up

How can I keep up when it’s not happened yet ? Asking for a friend ....

[ICELANDMAN]

5 hours ago, chrisandsu said:

Even when owning a house you will always have to pay property tax (or council tax in the uk) the uk pension is close to half of the Dutch pension and I think you have to be 70 to get it now ! No wonder they want to leave the Eu . The worst pension in the union by quite some distance . 

Many European country go for 70 now not only England, France excluded because yellow jackets ????????????

[Tounge Thaied]

4 minutes ago, Chomper Higgot said:

I see, trigger the spite and envy, you don’t have a good pension so nobody else should.

 

How about livable pensions for all, and seeing civil servants as working people rather than someone to envy.

 

You are being manipulated in the age old ‘divide and rule’. 

 

Incidentally, the reason why civil servants get good pensions is because it’s a means to combat corruption. If a civil servant is dismissed for corruption, criminal or gross misconduct they lose their pension.

 

The whole promotion, responsibility and accountability system within the civil service is designed to ensure civil servants don’t get any real power until they have so much skin in the game they dare not step out of line. You can thank Samuel Pepys for this.

 

Clearly seems that you are one side of that divide. Have you considered that you too are being manipulated? Sounds like a system of punishing those who may speak out of turn? Based on your comment, maybe if you speak against the corruption your dismissed without a pension? Your power, your indoctrination, is complete when your skin is all in. 

[Jonnapat]

UK at no. 14? Must surely be a joke. I know because I'm a UK pensioner and am well aware of  other other European countries pension arrangements. 

[stigar]

Im from norway.I get about 4000 US dollar a month in disability pension.

We have free education,free medical etc etc.Anyway we get that because we pay tax.

 

[andersonat]

46 minutes ago, Baerboxer said:

 

Indeed. The way UK pensioners are treated is appalling.

 

But that nice socialist Mr. Kinnock gets around GBP 1.7 million pension per year; and Mr Corbyn gets over 1m I believe.

 

See it's not all bad news ????

 

Can you please suggest a source for your figures on Kinnocks's pension and Corbyn's pension. My (brief) internet-researches suggest much lower figures. 

 

[el torro]

35 minutes ago, sandyf said:

Give over with the false information trying to make a point.

The NI contributions plus about 12% of income tax go on funding pensions and 0.72% of income tax goes to the EU.

Do some homework before making inaccurate statements.

Pensions could have been doubled and income tax cut with the money spent on brexit, a cost to the country that will never be truly established.

"Give over with the false information trying to make a point."

 

Perhaps you should follow your own advice, bearing in mind the last paragraph of your post?

[sidgy]

Not true. State pension is £168.60/wk which equates to £8767 /year. What you actually get depends on personal circumstances and some get a lesser amount because they paid into another scheme from which they also get an income.
If it is enough to live on is a different matter altogether and is consistent with government policy of forcing people to provide for their own retirement.
That along with the UK government policy on frozen pensions must rank it as the worst state pension provider in the world.

I don’t think it does rate as the worst state pension in the world, in fact according to the OP it ranks as the 14th best
Not saying it’s perfect but you cannot compare how good a state pension is on how much you receive at retirement unless you compare all data, eg how much have your contributions been compared to other countries, what age can it be taken, and most importantly,free medical care as this is a great expense and worry for many and only increases with age.


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[ICELANDMAN]

25 minutes ago, stigar said:

Im from norway.I get about 4000 US dollar a month in disability pension.

We have free education,free medical etc etc.Anyway we get that because we pay tax.

 

The disability pension is not to be bought with the old-age pension, when I would be for the old-age pension I assume that your pension will decrease a lot

[wgdanson]

7 hours ago, chrisandsu said:

Yeah the British pension is appalling ! My dad would get literally peanuts to survive on. Where I live I could retire in Thailand comfortably on what the social security have estimated what I will get . 

Maximum UK pension is £168.60 per week, which is about Bht 26,500 per month. Retire comfortably?