New risk for UK state pension?

[Roger Van Zant]

My UK state pension will be around 260,000 per month (roughly estimating GBP 1300 per month @200 yen to a pound).

The government has already stopped winter fuel payments. Now they are refusing to give the WASPI women compensation despite campaigning for it when in opposition.

Given how the government have chosen to allocate funds and how their policies seem focused on crashing the economy, I would be worried about getting your 260,000 yen if I were you.

Oh, I am! I'm sure the UK government will use some form of financial trickery to make it seem perfectly reasonable to drastically reduce pensions in the future.

[Roger Van Zant]

...
By age 62 (retirement age in Japan) I am on track to have about 32/40 years of Japanese pension (kousei nenkin).
...
My Japanese pension will be about 120,000 yen per month.
...

Are you sure? I put 29 yrs in (kokumin and shigakukyosai), and based on the bimonthly payment a few days ago (just over ¥325k), I'm now getting ¥162,500/month--and that's 'take home', after kaigo hoken has been deducted.

*

Retirement age in Japan varies. For me it was 65, for staff where I worked it was 60, another school in town was 60 for everyone.

Yeah, I just checked on the Japanese pension forecast website. Your salary must have been significantly higher than mine (not hard, given how crap my salary is).

[Moneymatters]

My UK state pension will be around 260,000 per month (roughly estimating GBP 1300 per month @200 yen to a pound).

The government has already stopped winter fuel payments. Now they are refusing to give the WASPI women compensation despite campaigning for it when in opposition.

Given how the government have chosen to allocate funds and how their policies seem focused on crashing the economy, I would be worried about getting your 260,000 yen if I were you.

What do you think will happen instead Swimmer?
UBI?
Or something more ‘Mad Max - Sunset Road’?
Croquet Mallet wielding pensioners roaming the streets like a Python sketch. Blade wheeled Mobility scooters a la Boadicia’s own chariot..

You need to fill the gap otherwise you aren’t even scare mongering. At least not to me. That’s because I’m constantly plagued by highly specific worries. Have been since I can remember. Just a vague instruction to worry will get lost among all the nightmare scenarios I’ve constructed on my own!

Anyway. In the absence of specific direction I’ve once again tapped into my vast knowledge of dystopian cinema for a plausible outcome should the state pension be removed.
Basically, due to a need to commercialize all things I expect the replacement will be televised games so those in desperation can compete for cash prizes. As less athletic Hunger Games as it were. So none of the Climbing for dollars we saw in Running man..

Given the UKs obsession with dancing that could be one avenue to explore.

Hmm. Anyone else here watched “they shoot horses don’t they?”.

[Swimmer]

Nobody knows what will happen. I was just pointing out that the government has put pensioners at the bottom of the priority list. And this with their mismanagement of the economy doesn't bode well.

Saying that, any party taking away pensions which have been paid for with National Insurance payments will be hammered in future elections.

[Moneymatters]

Nobody knows what will happen. I was just pointing out that the government has put pensioners at the bottom of the priority list. And this with their mismanagement of the economy doesn't bode well.

Saying that, any party taking away pensions which have been paid for with National Insurance payments will be hammered in future elections.

People saying something along the lines of “don’t expect a state pension” is frankly a trope at this time and just as a thought exercise I like to encourage people to think what would happen if such an eventuality were to pass..
Like now. You seem to realise it wouldn’t work in a democracy. You are welcome..

Could the value erode further. I doubt it as it needs to provide a basic level of subsistence.

In my mind the gov would first need to completely break the link between NI contributions and the pension. Then have UBI and a means tested application to receive more. This is easier than means testing everyone. Because it would be easy for the rich to bypass and implementation would be a nightmare.

(For what it’s worth, I’m more annoying in person. Way more..)

[Deep Blue]

Saying that, any party taking away pensions which have been paid for with National Insurance payments will be hammered in future elections.

This is the trouble. Our National Insurance payments do not pay for our pensions. They barely even pay for the current set of retiree's state pensions. It's not like we are saving/investing our money to pay for own future.... we need to rely on the taxpayers of the future to fund our pensions.

All we have is a promise from the Government... not even a big fund we're contributing to that we can reasonably expect to draw down on in future.

I continue to believe future pension payments will be means-tested. Not tomorrow, not in this parliment but somewhere down the line - 15, 20 or 30 years hence the UK Government will have to make more tough choices and they'll choose not to pay pensions to those who don't need them in favour of paying them to those who do. Not unlike winter fuel payments, actually.

[Wales4rugbyWC23]

Nobody knows what will happen. I was just pointing out that the government has put pensioners at the bottom of the priority list. And this with their mismanagement of the economy doesn't bode well.

Saying that, any party taking away pensions which have been paid for with National Insurance payments will be hammered in future elections.

Maintaining the triple lock is not putting pensioners at the bottom of the priority list. They have done very well over the last 15 years. A lot better than Gen X,Y,Z

[Swimmer]

Nobody knows what will happen. I was just pointing out that the government has put pensioners at the bottom of the priority list. And this with their mismanagement of the economy doesn't bode well.

Saying that, any party taking away pensions which have been paid for with National Insurance payments will be hammered in future elections.

Maintaining the triple lock is not putting pensioners at the bottom of the priority list. They have done very well over the last 15 years. A lot better than Gen X,Y,Z

Most pensioners have paid National Insurance premiums for 40 years plus so I think they should be entitled to a reasonable pension. The current government would rather give billions to corrupt African governments for 'green projects', bogus asylum seekers or overpaid train drivers. So, yeah the UK government has it's priorities.

[adamu]

The current government would rather give billions to corrupt African governments for 'green projects', bogus asylum seekers or overpaid train drivers. So, yeah the UK government has it's priorities.

Let's keep the discussion focussed on practical matters.

This is not a place for mockery, for moaning, for shitposting. There are other forums for that. This one is different.

[adamu]

Let's keep the discussion focussed on practical matters.

This is not a place for mockery, for moaning, for shitposting. There are other forums for that. This one is different.

Don't do this. If you don't like a comment report it to the moderator.

What about this one?

Don't spoil the thread with your political opinions.