More Pension Disincentives

[Protheroe]

The Resolution Foundation, which actually has alumni as ministers in the government is recommending that the age workers are able to take pensions is increased from 55, and that the allowable tax free lump sum is reduced.

On top of the disincentives already implemented.

[tHEgLASSdOORS]

Aye. That’s why I made sure I sorted that earlier this year.

[Fido]

Fuck’s sake. I’m 55 next summer and it’s one option that’s on the table. Not that I’ve got loads stored away but a downsize and a little nice and easy job might make it nearly possible.

[tHEgLASSdOORS]

I’m pretty sure it changes to 57 in 2028 anyway

And more like 58 as it’s 57 and 9 months

[Borin' Baggie]

The Resolution Foundation are a bunch of naïve, idealistic social democrats who are too scared to make tough decisions

[man in the corner shop]

Nye Cominetti, an economist at the Resolution Foundation, said: "Our pensions and tax rules currently incentivise very wealthy people to retire early. These generous tax breaks should be restricted."

I don't follow that at all.

[Protheroe]

They want to coerce older people to work for longer. The government needs tax drones to finance welfare spending and debt interest.

[man in the corner shop]

I grasp what is being said but I can't see any logic in it at all.
Good luck to the wealthy I say if they have made provison to retire early. Plenty on this bored have already retired early. There are other levers that can be used to take tax from them rather than tax pensions. We will end up in a place where no one does any pension planning. Seems a bit of a dumb and daft approach to me.

I am not generally in favour of races to the bottom.

[baggy1]

I’m pretty sure it changes to 57 in 2028 anyway

And more like 58 as it’s 57 and 9 months

It does, not certain what the telegraph style post is about here. Some people in a room mentioned something that is happening anyway. 

Just for info if the government make any changes to pension ages then they should allow 10 years notice. I say should because they don’t have to but it has always been accepted as the norm.

Don’t worry Fido, you’ll still be able to take yours. That is if there is anything left of it after Trump has fucked over the markets by then.

[Protheroe]

Seems a bit of a dumb and daft approach to me.

I am not generally in favour of races to the bottom.

Agreed.