Uk Economic Woes

[Penkoprod]

The Torys have already stated that pensions will be linked to wage inflation as opposed to price inflation thus making it a better deal for pensioners in the long term, but the age for getting a pension is going to rise. (though its not looking like a good deal right now)

Its the pensions of public sector workers thatll be getting hit, and rightly so, retiring at 50 and living off the private sector for 30 years on average is a unaffordable non too funny joke.

No doubt theyll strike like the deluded trolly dolleysof BA who are the highest paid and get the best privelleges of any airline worker.

PS See the miners union have been paying 300k rent for Scargill London flat (2nd residence) the hypocrisy of the unions and their leaders is astounding.

Have you actualy seen any figures for the inflation, both wage and price?

Well, for one thing, price inflation is currently running at 5.3%, while wage inflation is currently running at less than 2% (or less than 4% if you include bonuses)

How can linking it to wage inflation be a better deal for pensioners?

And, dont forget, price inflation is going to rise, but there will be downward pressure on wage inflation, i should imagine

Penkoprod

[hansum]

The Torys have already stated that pensions will be linked to wage inflation as opposed to price inflation thus making it a better deal for pensioners in the long term, but the age for getting a pension is going to rise. (though its not looking like a good deal right now)

Its the pensions of public sector workers thatll be getting hit, and rightly so, retiring at 50 and living off the private sector for 30 years on average is a unaffordable non too funny joke.

No doubt theyll strike like the deluded trolly dolleysof BA who are the highest paid and get the best privelleges of any airline worker.

PS See the miners union have been paying 300k rent for Scargill London flat (2nd residence) the hypocrisy of the unions and their leaders is astounding.

Have you actualy seen any figures for the inflation, both wage and price?

Well, for one thing, price inflation is currently running at 5.3%, while wage inflation is currently running at less than 2% (or less than 4% if you include bonuses)

How can linking it to wage inflation be a better deal for pensioners?

And, dont forget, price inflation is going to rise, but there will be downward pressure on wage inflation, i should imagine

Penkoprod

Read what i wrote.

The Torys have already stated that pensions will be linked to wage inflation as opposed to price inflation thus making it a better deal for pensioners in the long term, but the age for getting a pension is going to rise. (though its not looking like a good deal right now)

You can read more here, though i was wrong theyll raise it by the higher of the 2 indexes or 2.5%

The document said: 'We will restore the earnings link for the basic state pension from April 2011, with a 'triple guarantee' that pensions are raised by the higher of earnings, prices or 2.5%.

Edited June 9, 2010 by hansum

[Deeral]

Europe and UK are intrinsically linked - so whatever happens to the Euro will to some extent happen to Sterling.

THe trouble in Greece is actually quite small - it is the markets that have taken to panicking about it - thew EU economy is vast - and at one point was worth 80 cents (US) so the drop isn;'t really that significant.

THe problem for expats in THailand is probably more the resilience of the baht than the weakness (apparent) of the Euro or pound.Over the next few months the markets will reassess their take on "PGS" or PIIGGS as it is now and the Euro may feel less under pressure.

however many expats who are retired on pensions may have made their mistake when they based their calculations on living in THailand on the extremely favourable rates offered over the yers the beginning of the millennium.

Finally prices rise - inexorably, and a lot of the retirees I've had contact with don't seem to have factored even this into their long term financial calculations. Inflation has been getting increasing references over the last year or so and may well make a come back to world economies over the next few years.

[MAJIC]

The Doom mongers are out in force as usual,

Those that are retired and living on their state UK Pension,

should not worry about having their Pensions cancelled,

You have worked and earned it all your working life,

it will never happen in a million years.

Relax! its just a wind up.

I don't think anyone is seriously suggesting state pensions will be cut, but don't go looking for any rises for a few years or so, and I woudn't be so quick as to rule out any effect on expats, eg, no tax emption, and more rigorously enforced NHS rules.

That they earned it is one matter, that it's already all been spent is another.

The doom mongers! by that do you mean all prople that aren't ridiculously optimistic?

Those living in a non EEU country have never got annual increases to the state pension at 65 because of non UK residency,this anomaly went to a final EU Court hearing a few months ago and was denied annual increases on a final appeal,so no change there.

Any Ex Pat is still entitled to annual Tax allowances up to their income threshold, on income generated in the UK.

As for "more rigorous enforced NHS rules" we will have to wait and see on that one.

Im neither Optimistic or Pessimistic,factual would be nearer the mark.