UK Pensions are worst in the world

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Keyolder
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Nov 2023 29 13:39

Re: UK Pensions are worst in the world

Because of the many recessions over the last 20 years, investments collapsing plus bailing out the banks the value of the £ dropped like a stone. Earnings were down due to pay freezes cuts in overtime and then there was staff reduction, leading to more work for the remaining staff. The employer’s contribution to workplace pensions was also reduced along the way, so adding all the above together, my work pension was around half of what it was originally forecast.
And this is true I’m sure for everyone’s work pension [Disappointment.png]
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JeffW
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Nov 2023 29 14:59

Re: UK Pensions are worst in the world

I just had a Google on the subject.

Holland's state pension seems to be 1000 euro's a month, and our state pension is (or will soon be) £221.20 a week.

Personally I wouldn't take too much notice of those left wing facebook memes.
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magpie
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Nov 2023 29 18:25

Re: UK Pensions are worst in the world

I think that it is well worth doing a check to see if you were contracted out, i was totally unaware that i had been like that but contacted the National Insurance people and paid a bit extra so that when i do get my state pension in about 16 months time, i will only be £1.94 a week short of a full pension
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hawkwind
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Dec 2023 02 15:59

Re: UK Pensions are worst in the world

I was contracted out but I don't know for how many years exactly, it was around 1993 but after 3 years I was quite ill and I was on incapacity benefit for 6 year's before getting back into work.
My pension forecast is for the full amount but I'm a bit sceptical about just how accurate that is.
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