On 23/11/2017 02:10, JNugent wrote:
On 23/11/2017 01:17, Fredxxx wrote:
On 23/11/2017 01:07, JNugent wrote:
On 23/11/2017 00:50, Rod Speed wrote:
"Fredxxx" wrote in message
news
On 22/11/2017 22:07, Rod Speed wrote:
snip
Nope, just provided with what they have paid for while they were
working.
Except they haven't paid enough.
Irrelevant. Its not a pool system. The current
amount coming in is close to what is going out.
And in any case, the NI contribution rate, at 12% of earnings over a
working life, is comparable to any private funded pension scheme.
Some people pay into more than one scheme, plus 12% NI.
It may be equivalent in percentage, but has a high threshold and has
never kept up with expenditure out of the 'fund'. Not enough has been
paid in.
The young are paying the price in so many ways, through increased
contributions and the delayed age at which they become eligible.
"increased contributions"?
Isn't the rate 12% for them as well?
Are you really suggesting it has always been 12%?