Liz Truss Resigns [Who'll be the next Prime Minister?]

Originally Posted by Pierre

Pretty much all final salary schemes were canned over a decade ago.

Any one such a scheme were transferred onto other plans.

Everyone was not transferred to other plans, I was in two, and still am.

Originally Posted by jfman

This is the thing… nobody actually “paid in”.

Complete nonsense.
I paid into both my F/S schemes, and also pay into the scheme at my current employer.
The only one I dont (directly) pay into is the govt pension (when I finally get it).
That said, my national insurance for the last 42 years is supposedly (partly) paying for it.


I have removed a bunch of posts once again attacking so called "baby boomers".
Further attacks will see the member in question removed from topics for long periods.

(and no, I wont be retiring at 60 either).

I’m also still in a final salary scheme, albeit one now closed to new members (and I’m not actively contributing as it’s a scheme I was in in a former job). It has been restructured and outsourced. I suspect in the long run a few large companies will hoover up a lot of these funds in order to run them as efficiently as possible because there’s no doubt they’re freakishly expensive.

[GrimUpNorth]

My local government pension now has three different bits to it. First two final salary and the third career average ( I think).

[Pierre]

Originally Posted by Paul

Everyone was not transferred to other plans, I was in two, and still am.

Are you, or your employer, still actively contributing to them, are they just still ….there?

If you’re in two, would suggest you’re not working for at least one?

I was never in one, but Mrs Pierre was and her FS was capped stopped and then they were moved onto a contributory one.

Active FS schemes are very rare.

[TheDaddy]

Originally Posted by Chris

Err no, it’s collapsing because of the catastrophic economic incompetence of the prime minister.

She was not deeply unpopular before she tanked the currency - no more so than most prime ministers. Nor was the Tory party in the process of tanking the currency or the wider economy prior to her appointment, notwithstanding the inflationary pressures that were (and are) common across Europe.

Pub bore proverbs really don’t help anyone. There are specific factors in play and it pays to at least try to identify them.

Think I saw somewhere the other day that pre brexit our economy was 90% of Germany's, it's now 70%, sounds like they were tanking it good and proper before blunder woman stumbled into the top job

Originally Posted by jfman

We were almost certainly heading for a recession and higher interest rates in any case.

What she’s done is she’s told us once the drawbridge gets pulled up 99% of us we will get poorer and public services will be decimated while they redraw the tax system to benefit the super wealthy. An atrocious look when you’re in a popularity contest.

and yet people other than the super wealthy will still vote for them coz you know, the damage labour would do if they got in

---------- Post added at 02:13 ---------- Previous post was at 02:13 ----------

Originally Posted by Mr K

What that looks like in terms of seats. Libdems would become the opposition:-

LAB: 515 (+313)
LDM: 47 (+36)
SNP: 42 (-6)
CON: 22 (-343)
PLC: 4 (=)
GRN: 1 (=)

Labour Majority of 380.
Changes w/ GE2019.

https://twitter.com/ElectionMapsUK/s...t-liz-truss%2F

Wonder who the lucky 22 are

[jfman]

Originally Posted by Paul

Everyone was not transferred to other plans, I was in two, and still am.

Complete nonsense.
I paid into both my F/S schemes, and also pay into the scheme at my current employer.
The only one I dont (directly) pay into is the govt pension (when I finally get it).
That said, my national insurance for the last 42 years is supposedly (partly) paying for it.


I have removed a bunch of posts once again attacking so called "baby boomers".
Further attacks will see the member in question removed from topics for long periods.

(and no, I wont be retiring at 60 either).

I was referring to the state pension not final salary schemes and certainly my intention isn’t to attack “boomers” it’s to criticise flawed Government policy (and yes, it’s nearly 70 years worth so both colours) that ran the pension like a pyramid scheme.

It worked well with population growth ensuring it’s a small part of the pot. It’s now an increasing part of the pot with the amount of people withdrawing instead of paying in are a greater proportion.

Similarly the idea (across western democracies) that economic growth is inevitable as a long term trend. Not without more consumers it isn’t.

Originally Posted by Jaymoss

So I reiterate how is any of that the fault of those who are fortunate enough to have paid into pensions worked their whole life and are comfortable in retirement? Yeah it is likely the last group to be that fortunate. I just think a lot of people approaching pension age now are just jealous they wont be as comfortable as those older.

My Dad worked hard all his life. Did not have a great deal for most his life. I certainly do not begrudge him his comfortable twilight years

The people that paid into private pensions or are part of final salary schemes aren't in danger from the removal of the triple lock. Although the government did put the final salary schemes at risk because they screwed up the budget.

I am only talking about the state pension which no one ever pays into. You do have to qualify for it via NI contribution years but pensions come out of general taxation. So the government is free to cut/increase the amount as it sees fit or change the years.

The triple lock wasn't because people had saved more than they thought so the government was able to increase their pensions. It was a political decision. The Government giveth and the Government taketh away.

I suspect they won't cut it anyway but instead raise the pension age for anyone under 50, not increase benefits for anyone on disability or job seeker's allowance and increase the age you have to be to qualify for some benefits. That's usually the way.

I am not planning for a state pension when I retire, I very much expect to get screwed by the state.

[jfman]

Originally Posted by Damien

I am not planning for a state pension when I retire, I very much expect to get screwed by the state.

Dare I say it’s bold of you to plan to retire at all.

[papa smurf]

Originally Posted by Damien

The people that paid into private pensions or are part of final salary schemes aren't in danger from the removal of the triple lock. Although the government did put the final salary schemes at risk because they screwed up the budget.

I am only talking about the state pension which no one ever pays into. You do have to qualify for it via NI contribution years but pensions come out of general taxation. So the government is free to cut/increase the amount as it sees fit or change the years.

The triple lock wasn't because people had saved more than they thought so the government was able to increase their pensions. It was a political decision. The Government giveth and the Government taketh away.

I suspect they won't cut it anyway but instead raise the pension age for anyone under 50, not increase benefits for anyone on disability or job seeker's allowance and increase the age you have to be to qualify for some benefits. That's usually the way.

I am not planning for a state pension when I retire, I very much expect to get screwed by the state.

you won't be disappointed they hate pensioners until they want our votes

[mrmistoffelees]

Originally Posted by papa smurf

you won't be disappointed they hate pensioners until they want our votes

Aye, you're so badly done to.... SMH

[TheDaddy]

Talk of Theresa May taking over, safe pair of hands, boring and competent seem to be the order of the day

[1andrew1]

Not sure Conservative Party members got it exactly right last time!

Majority of Tory party members want Truss to resign now - and want Boris Johnson to replace her

The majority of Conservative Party members want Liz Truss to resign now - just six weeks after voting her in - and their preferred replacement is Boris Johnson, a new poll has found.

As her position as prime minister hangs by a thread following a major U-turn on the majority of the mini-budget, Tory members are largely unimpressed with Ms Truss.

The poll found 55% of members think she should resign now, while 38% believe she should remain.

And a majority (63%) think former PM Boris Johnson would be a good replacement, with 32% putting him as their top candidate, followed by Mr Sunak at 23%

https://news.sky.com/story/majority-...e-her-12723609

More signs triple lock is about to go: https://twitter.com/PippaCrerar/stat...46032796807172

NEW: Liz Truss is no longer committed to defending the pensions triple lock, with PM’s official spox signalling it is up for renegotiation.

This is despite 2019 manifesto pledge and PM saying at Tory party conference she remained “committed” to it.

Oh dear, what a shambles…

[Dave42]

Originally Posted by 1andrew1

Not sure Conservative Party members got it exactly right last time!


https://news.sky.com/story/majority-...e-her-12723609

and the members have give uk the worse 2 PM's ever in the last 2 votes they had