UK Budget - Pension increase

User avatar
Roger Van Zant
Veteran
Posts: 630
Joined: Tue Sep 01, 2020 7:33 am
Location: Kyushu

Re: UK Budget - Pension increase

Post by Roger Van Zant »

Swimmer wrote: Thu Oct 31, 2024 11:41 pm
Wales4rugbyWC23 wrote: Thu Oct 31, 2024 11:06 am
Seen the most recent net migration numbers..... For sure they will become pensioners in the all too distant future, but when they come, they are taxpayers....
Most recent immigrants tend to do low skilled jobs. According to official figures low-income earners cost the country a net 150,000 pounds through their lifetimes, including NHS costs etc...Also, less than half of asylum seekers enter the job market, the rest depend on the State.

So unless you are talking about high-income earners I'm not sure how valid your argument is.
Still, good news for towns needing hand car-washes and kebab/fried chicken takeaways! ;)
Investments:
Company DB scheme ✓
iDeCo (Monex) eMaxis Slim All Country ✓
新NISA (SBI) eMaxis Slim All Country ✓
Japanese pension (kosei nenkin) ✓
UK pension (Class 2 payer) ✓
beanhead
Sensei
Posts: 1229
Joined: Sat Jan 30, 2021 1:24 pm
Location: Kanto

Re: UK Budget - Pension increase

Post by beanhead »

Swimmer wrote: Thu Oct 31, 2024 11:41 pm
Most recent immigrants tend to do low skilled jobs. According to official figures low-income earners cost the country a net 150,000 pounds through their lifetimes, including NHS costs etc...Also, less than half of asylum seekers enter the job market, the rest depend on the State.

So unless you are talking about high-income earners I'm not sure how valid your argument is.
Maybe a good idea to cite your sources, as this is by no means a black and white issue.
See this review, for example, to understand the complexity:
https://migrationobservatory.ox.ac.uk/r ... n-the-uk/#
Aiming to retire at 60 and live for a while longer. 95% index funds (eMaxis Slim etc), 5% Japanese dividend stocks.
Deep Blue
Veteran
Posts: 692
Joined: Sun Sep 05, 2021 4:43 am

Re: UK Budget - Pension increase

Post by Deep Blue »

Swimmer wrote: Thu Oct 31, 2024 11:41 pm
Most recent immigrants tend to do low skilled jobs. According to official figures low-income earners cost the country a net 150,000 pounds through their lifetimes, including NHS costs etc..
That is very surprising and directly contradicts all the evidence I have seen. Can you provide a source for this?
Tsumitate Wrestler
Veteran
Posts: 655
Joined: Wed Oct 04, 2023 1:06 pm

Re: UK Budget - Pension increase

Post by Tsumitate Wrestler »

This seems to be a trusted source for information on the subject: https://migrationobservatory.ox.ac.uk/r ... om-the-uk/
TunaSki
Regular
Posts: 53
Joined: Sun Apr 14, 2024 12:57 am

Re: UK Budget - Pension increase

Post by TunaSki »

Swimmer wrote: Thu Oct 31, 2024 11:41 pm
Wales4rugbyWC23 wrote: Thu Oct 31, 2024 11:06 am
Seen the most recent net migration numbers..... For sure they will become pensioners in the all too distant future, but when they come, they are taxpayers....
Most recent immigrants tend to do low skilled jobs. According to official figures low-income earners cost the country a net 150,000 pounds through their lifetimes, including NHS costs etc...Also, less than half of asylum seekers enter the job market, the rest depend on the State.

So unless you are talking about high-income earners I'm not sure how valid your argument is.
Most immigrants have to pay an NHS surcharge until they get ILR (UK’s version of PR), which can take anywhere between 5 and 10 years based on their path.

They are also not entitled to welfare until they get ILR too.

Asylum seekers are a problem though because they get benefits other immigrants don’t get. So asylum seekers are huge net negative Not so much a problem if the asylum seeker is legitimate, but a big problem for all those economic migrants claiming to be asylum seekers
Deep Blue
Veteran
Posts: 692
Joined: Sun Sep 05, 2021 4:43 am

Re: UK Budget - Pension increase

Post by Deep Blue »

TunaSki wrote: Fri Nov 01, 2024 5:51 am
Asylum seekers are a problem though because they get benefits other immigrants don’t get. So asylum seekers are huge net negative Not so much a problem if the asylum seeker is legitimate, but a big problem for all those economic migrants claiming to be asylum seekers
That 150k figure seems about as legitimate as one that was printed on a bus during the Brexit campaign.
Post Reply