so where does the ni contributions go to that we pay for 40 years?... its about juggling the figures thats all.. we pay now to draw then.

Why would anyone care what Noel Edmunds thinks. He is a TV presenter for CHRIST SAKE! His shows are TACKY. Hope his career is over.

 

If this border was shut, then we should take all the British immigrants living in other countries and keep them here.

so where does the ni contributions go to that we pay for 40 years?... its about juggling the figures thats all.. we pay now to draw then.

They go to pay existing pensioners. Well, in reality, they just get lobbed in with tax income and get used for general government spending, including the state pension.

Edited September 17, 200816 yr by Suedehead2

so where does the ni contributions go to that we pay for 40 years?... its about juggling the figures thats all.. we pay now to draw then.

 

The 40 years is the qualification period to be able to receive the full state pension. If you pay in for less you get proportionally less. Suedehead is quite correct when he says all current pensions are paid from current taxpayers money. Our pensions will be paid by our childrens generation. You don't actually get the money you pay in, as some will live for years and collect way more than they paid, others will die early in retirement and get a lot less.

 

However there is a flaw in the Governments plans to bring in more immigrants to pay the taxes to fund our pensions. If you need another 5-10 million newcomers to pay pensions in the 2020's, if these people stay here and retire, then you will need another 15-25 million by 2050's to fund their retirement. Therefore the population increase spirals, until it becomes unsustainable. If you really need a minimum of at least 2 taxpayers( ideally 3 or 4) to fund 1 state pension, and the number of people over 65 is now greater than the number of under 16's, then you do the math. :blink:

i understand that current pensions are paid out of current taxation...but we put money in in the first place so as far as im concerned it aint 'new' money... its what ive paid in for.