Advice needed

Londina

PGM wrote: »

Did anyone watch this? I would have but hit my limit for panarama/dispatches type programs.

I watched this, it was quite interesting.
This problem I think is also connected with the raising pension age to 66, if those people could retire at 55 for example, they wouldn't be so desparate to find a job, instead because they are forced to work for another 10 years, they have to join the queue of unemployed people.

The pension system is a disgrace in this country, someone should retire depends how much contributions has been paid through the years, not based on an age (there is a big difference if you start working at 18 or 26...).

Rinske

I haven't watched it, but read the article that went with it.

By the sound of things the government blames the 50+ group for not being flexible and the 50+ group can't find a job and a lot sounds like ageism from employers but that will be impossible to prove.

I'm not saying it is age-ism, but it sounds like it, so the press will possibly blame it on the companies again.

Anyways, I agree partly with Londina to offer the early retirement for those unemployed and interested, but you can't really expect the government to pay for early retirement for everyone, just because they worked x amount of years.

blobbyh

Londina wrote: »

The pension system is a disgrace in this country, someone should retire depends how much contributions has been paid through the years, not based on an age (there is a big difference if you start working at 18 or 26...).

Partly disagree since there are numerous reasons why some people will not have paid in enough contributions. Some people may suffer mental health problems at points in their life and been unable to contribute for extended periods: should they continue until they die at work, having never enjoyed a happy, work-free retirement?

We shouldn't always tax the richest even though they may have earnt - and thus contributed - more but we morally can't abandon the poorest either.

Londina

Rinske wrote: »

Anyways, I agree partly with Londina to offer the early retirement for those unemployed and interested, but you can't really expect the government to pay for early retirement for everyone, just because they worked x amount of years.

however the government is expected to pay for single mothers with 4/5 kids...anyway,back to the subject, the pension should based of how much NI contribution someone pays, I can't believe the state pension is only £97.65 a week, sorry but I don't pay this in my payslip...

blobbyh wrote: »

Partly disagree since there are numerous reasons why some people will not have paid in enough contributions..

I agree also with you, I think the government should find a combination of state pension age and number of contributions paid, also offering voluntary early retirement for those who need it.
In my country you have to pay 40 years of contributions before you can retire, if you don't reach those years, you can still retire, but you obvioulsy will earn less pension (which anyway is higher than £97 per week...). My father retired at 58, as he started work at 18 and his pension is based on how much contributions he paid.

jilt

Londina wrote: »

In my country you have to pay 40 years of contributions before you can retire, if you don't reach those years, you can still retire, but you obvioulsy will earn less pension (which anyway is higher than £97 per week...). My father retired at 58, as he started work at 18 and his pension is based on how much contributions he paid.

Hi Londina,

Sorry I'm not posting anything to contribute to this thread but am curious, what is your country?

Londina

jilt wrote: »

Hi Londina,
what is your country?

why, would you like to move over there? ;-)

Sorry, but since this is a public forum, I prefer not to say (otherwise I could be identified..), but there are some Europeans countries that have similar arrangement to mine, like for example:

Luxembourg
The Luxembourg social security system provides substantial retirement benefits based on two components: a flat-rate amount contingent on years of coverage and an earnings-related amount. Both components are financed through contributions shared equally between the employer, employee and state and amounting to 24% of wages.The normal retirement age is 65, provided at least ten years’ worth of contributions have been made. Every insured person with a contribution record of at least 20 years is entitled to public pension benefits. After 40 years of contributions (compulsory or voluntary), an individual can claim an early pension from age 57 onwards. The statutory retirement age is 65, but it is possible to continue to work and receive the pensions without suffering a reduction in benefits.

France
The pension benefit depends on the professional life record, income level and a multiplier applied. There is both a maximum and a minimum pension. The maximum benefit one can receive in a year is 50% of the contribution assessment limit. Low-income earners are expected to receive a pension that equals at least 85% of the French minimum wage.

The required number of years to qualify for a full pension has only recently increased to 40 years. To ensure a stable employment period/retirement period ratio, which was set at 2:1, the required contribution period will further increase to 41 years by 2012. The duration of a worker’s period of employment and period of retirement will be continually reviewed and adjusted thereafter.
To give an incentive to postpone retirement, everyone who decides to keep on working after having reached the statutory retirement age, and having paid contributions for 40 years, is granted an additional 0.75% for every additional quarter (max. 3% per annum).

Norway
Normal retirement age is 67, although approximately 60% of employees are entitled to early retirement from age 62 under the early retirement plan, AFP. The state retirement pension consists of a basic plus an earnings related pension, both related to the base amount (BA). The full pension for a single pension after 40 years’ contributions is equal to 100% of BA (NOK 72,881 from May 2009), plus 42% of average earnings between 1 and 6 BA and 14% of earnings between 6 and 12 BA. The state also provides survivors’ pensions, disability pensions and medical care. The state pension system is due to be reformed in 2011, to introduce a flexible retirement age and reduce the accrual rate to 1.35% of earnings up to seven times the base amount.


Why in UK is so difficult instead?

Londina

ps. Spain too

Spain
Spain has one of the most generous state pension systems – a participant with an average salary who made 40 years’ contributions could expect more than €30,000 a year – which the government has yet to overhaul.
However, it has formed a committee to revise a pact on pensions concluded in 1995 by the political parties and social partners. It is expected to announce its recommendations in January, with changes to come into force in April.

Andrés Martín, at consultancy Towers Watson in Madrid, said: “The new measures are expected to raise the retirement age to 67 from 65 and a pension will be based on earnings averaged over an employee’s whole working life or at least the last 20 years from the last 15 years at present, which will reduce the amount paid.

Glynis

I have had a chance to think about my actions and have had a chance to speak with the agency this week. I accept that my post earlier on here was out of line to which I apologise to Steve again. The agency have said that there were issues with my work which I am still disagreeing with as I hardly received any training but I am going to move on.

I am going to continue with studying as i have paid for my books and look for a new job next week.

Thankyou for your advices.

Barry

Uncalled for Glynis

Glynis wrote: »

I accept that my post earlier on here was out of line to which I apologise to Steve again.

Err correction Glynis, your post to Steve was not out of line, it was out of order and down right rude.
Steve has been posting advice on here for years and yet you always ask him questions but then end up throwing it back in his face. I also hope Steve never replies to your questions again because frankly you are a horrible person who does not deserve any help on these forums especially not from someone of Steve's standing in the accounting world.

katie2008

Glynis, I think I speak for most of the forum when I say you should apologise to the whole forum and also to Steve. (And I hope that Steve never responds to you again).

Your post was wrong, totally uncalled for.

And as you say about training - Maybe they would expect you to know what you are doing after being aat qualified!