The Poolie Bunker

Governments are always telling us we need to save for our old age, currently my State Pension is taxed, my PP is also taxed at 20%. I have just received notification that tax is owed on a small savings account. Immediately my monthly payments are reduced on my PP, whats the point in having a little nest egg when pensioners get penalised ?

It'll be that Nigel Farage to blame. He said he'd do that when he was 13.

I don’t remember Farage ever being employed by the HMRC ?

14 years worth of black hole and 18 months worth of benefits and NMW rises Jamie, the money's got to come from somewhere.
It's like a bizarre Robin Hood tale, steal from the old and give to the workshy and illegals.
Keir Hardy would be turning in his grave.

They're being investigated for employing underage workers in the 1970's.

It was definitely Nigel Farages idea to introduce this extra tax, apparently he was playing conkers in the playground with Eggsy Roberts in the summer of 1977 and Grasser Harrison said he definitely heard him say he intended to introduce it in years to come, he told Roppa Higgs who then told one of the dinner ladies who then wrote it on the back of a fag packet and passed it on to the Headmaster.....we need answers.

As well as reverting to the child chimney sweeps idea.

Socialism. The problem is "you eventually run out of other people's money." Starmer and Rachel from accounts are busy grabbing "other people's money" by penalising anyone with a reasonable income and anyone who planned for their retirement while rewarding the feckless,the irresponsible and the migrants who never contributed a penny to the UKeconomy. Its what the country voted for. Just bend over, grit your teeth and take it.

I heard Shopper Grassingim was involved…he wanted to be a labour MP, but his inability to read and write was a bit of a problem.

He was a bit annoyed when he was told his poor literacy and numeracy would have been far less of an obstacle if he had been trans or born overseas. As a straight white male he was always going to be at a disadvantage.

TBH Derwent couldn’t be further from the truth, the benefits system does need reforming where for as many years as I remember some people manage to get through life living off the state.
Labours new scheme where young people who have been out of a job or education for 18 months will be offered a guaranteed paid work placement.
Those who do not decide to take up the offer ‘could’ face being stripped of their benefits.

But why should it come from pensioners who have worked all their lives managed to save a little nest egg /contributed to a private pension only for it to taxed whereas some one who has never or rarely worked qualifies for every benefit going ?

These schemes in one form or another have been going on for years and they never strip anyone of anything….Tory’s and Labour have always been the same because the ‘fly boys’ know how to work the system like the or parents and grandparents.

One loophole that needs closing is when some one can actually be in work is that they can still claim top up benefits, why ? are their employer not paying them enough to live on ? Previous governments don’t bother as it keeps them off the unemployment register. My friend’ Farage says it’s a loophole he is going to close, probably the only policy of Reform I agree with.

Aye, and some people work on say 16 hour contracts topping up with overtime but going back to basic hours when review time for benefits comes…..wouldn’t it be easier if their tax payments were checked which would show true earnings.

there has to be suitable jobs for them to do in the first place. like the dinghy divers they are not all future engineers and doctors.

What on earth are you on about, where have I said the benefits system doesn't need reforming.

I meant your quote about the chimney sweep Derwent.

Unfortunately it will be like the YTS where the kids were used for cheap labour, employers will take them on because they get a government grant.
This really needs looking into 6 million working-age adults are on benefits, thats more than the entire population of Norway.

How about conscription? Or a 21st century version of the Land Army? Mandatory - unless they get a 'proper' job elsewhere - so they're are all off 'no work' benefits.

Well we're getting closer to war in Europe by many accounts and we need to be prepared so National Service wouldn't be a bad idea imo. Would also instill some sense of community and respect into the younger generation.

Surely you just have your "little nest egg" in a Cash ISA then you won't pay tax on it. The government have even let pensioners keep the Cash ISA £20k per year limit to help with this.

Aye, something like the Pioneer Corp in WW2 …a serving soldier, but works on civil projects like road building, construction etc.
Just read about a book about Germans who volunteered to serve in the British forces and joined the Pioneer Corps during the war to then qualify them to join the regular services with a new identity.

Or how about - want a roof over your head? Sweep this street. Pick these crops. Paint this bridge...................

Young people need jobs to connect with society and to develop in the community and the benefits it gives to us all long term.
There must be no option.The mindset of the 1970/80/90 Sociology students in power needs to be reversed.

I did an A level in sociology in the early 70’s…on reflection, what a load of crap.

There are some articles on the MSM where Reeves has said anyone whose sole income is only the State Pension it won’t be taxed ?

Anyone dependant solely on the State Pension is badly done to as it is…..Taxing it would be a crime in my opinion.

without having a phone glued to there hands as well.

would not have bothered me if i could not get a job to do stuff like that when i was in my teens and early 20,s. its a job creator for those in change of the groups and committees to decise which work needs doing. however who will stop the benefits in the first place for any refuses as the do gooders would have a field day.

So did i although i found it interesting in parts but crap elsewhere.
I still refer to Maslows "hierarchy of needs" and my achievement of "self actualisation" when pontificating in the pub.

I have heard it will not be taxed if solely dependent on it in this parliament.

I'm guessing that is why they have left the £20k per year Cash ISA allowance for pensioners in place so they can keep their savings away from incurring tax and therefore being included in any tax liability calculations ... or, as I'm not a pensioner so don't see how the state pension is calculated, does your pension amount differ if you have savings?

No it’s not means tested, The State Pension depends on your NI contributions, I had the full contributions required and had ‘protected rights’ which takes me over the tax threshold therefore my pension exceeds the tax threshold meaning part of it is taxed.
Protected rights in the UK State Pension refer to funds built up when you "contracted out" of the Additional State Pension (SERPS/S2P) by paying National Insurance into a private/workplace pension instead, essentially getting a rebate. These were money purchase (defined contribution) rights with special rules, but the "protected rights" system was abolished in 2012, meaning they now function like standard pension pots (SIPPs/DC schemes) with more flexibility, though people still use the term to describe these older pots.

Whooo just got my £10 Christmas bonus from Rachel. It's not been increased since 1972. That would be £150 if it had been inflated.

I can see a U Turn in the Autumn budget for April 27 State pension being part taxable.

£12570 upwards is taxable.

How about apply this to the lazy bastad familys on 20k + a year.

And what a shame there's currently horrendous weather now in the freebie English Channel.

List of benefits which are taxed and others that are not,
https://www.gov.uk/income-tax/taxfree-a ... e-benefits

It says on that list that winter fuel payments aren't taxable but I thought they were if earning north of 35K.

For winter 2024/25 onwards, the Winter Fuel Payment in the UK is means-tested. It is no longer a universal benefit; it is restricted to pensioners in England and Wales who receive Pension Credit or other specific means-tested benefits. Payments are generally £200 for those under 80 and £300 for those 80+