fecking Tory fecking fecks are fecking my fecking generation up more than they have done al-fecking-ready. feck them and feck anyone who fecking says that this isn't their problem.
http://www.bbc.co.uk/news/business-35702441
ok so ni contributions are supposed to pay for pensions and health care
Ni contrubutions account for about 20% of tax take
currently pensions and health accounts for 38% of our spending... and that's set to rise massively if we don't cut pensions or delay pensions
So about 38% of total spending is health and pensions...
NI contributions account for circa 20% of government income
2014-15 were the last years I could see where NIC was £110,406 Million out of £515,348 Million
https://www.gov.uk/government/uploa...e/493308/Dec15_Receipts_NS_Bulletin_Final.pdf
So tory, labour, green, UKIP whoever it is either faces massive tax rises (which nobody will vote for) or cuts to provisions
The tripple lock on pensions in retrospect will seem daft I think (though a vote winner)
And until all parties actually talk about the reality and accept that we cant have people working for 40 years (20 to 60) and putting away a few % of their income then retired for 30-40 years and expect the government to be able to fund cutting edge medical care and a good standard of living we are all fuc!ed no matter what party is in power
It was initially 12 people working for 1 retired yet we are facing a reality soon where it will be 2 people working for each 1 retired (and still people want to cut immigration)
The fact that NI has for many years only covered half of what it is supposed to is a real problem continually not addressed under either government.
So yeah your probably going to live longer, a larger proportion of that life will be working, you will need to save more of your money than before to fund your retirement and more of that retirement will probably be in poor health - and thats the price we all paty for increased life expectancy
Though a plaitable solution would be great I cant see one - if you can envisage a way to make it work (beyond a logans run type future) then enlighten us...
edit... my only vaguely sensible suggestion would be paying a proportion of pension on a sliding scale say start at 65 paying 10% and increasing each year by 10% till 75 and people would need to make sufficent private provision / work part time in those years - that said I dont see the whole economy overnight restructuring to provide the right amount and sort of part time opportunities (i suppose you could legistlate for phased retirements though based on 1 day in each 10 by law from aged 65 but its messy and difficult to impose without say a 20 year lead time to allow people to prepare)... in short we are all fecked
and wait till they find an (expensive) cure for cancers - one of my first jobs was working out just how fuc!ed insurers would be if / when thats found (and its even worse for the government as they have to fund the medical bill as well) - in short society is going to collapse and lots more doom / type gloom scenarios - ok its not quite that bad but seriously it is very bad.