On 23/11/2017 08:55, Rod Speed wrote:


"Fredxxx" wrote in message
news
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.

First you claim that not enough has been paid in,
then you howl when the contributions are increased
and the age at which you can claim is delayed.

You can't have it both ways.

Have you deliberately misunderstood that those currently paid pensions
started at an earlier age than those currently paying NI contributions?

And that those currently paying NI are doing so at a higher rate than
current pensioners paid?