Off Topic Starmer/Reeves: The Dream Team!

Can’t comment on the media stuff mate,as I don’t watch or listen to the media a great deal but it really boils my piss the seemingly double taxation of your pension

 

Read previous post.

 

I read that mate,fair enough it’s just the frustration of paying into the system all your working life then still coming back for more in retirement

 

I agree it’s frustrating mate, that’s why I believe the threshold should be raised to take the lower paid out of paying tax.
I remember in the 70s the highest tax was 98 pence in the pound, if I remember correctly.

 

Don't know what you mean by double taxation of pensions vic, my pension isn't double taxed, my income over my personal allowance, currently £12570, is taxed; like it has been all through my working life.

 

My pension was non-contributory Rooch, but I think you are right, normally pension contributions are taken before income tax so you don't pay tax on them.

 

Aye mate I know that’s why I said seemingly,just frustrated with the system and threshold

 

I believe there should be a personal allowance specifically for pensioners and set at a threshold that takes most pensioners out of paying tax completely.

If it was set at £40,000 as an example, the majority of pensioners would be tax free and only the wealthy/rich would be liable to pay tax. There’s a massive difference between a pension income of £15,000 and one of £1,000,000.

They get our money and house anyway if we need residential care in our dotage.

 

The government would only be able to nick our money and houses if they weren't protected . . . . they can be via trusts etc.

 

That's not as easy as people think Gordon

 

Fancy putting up for chancellor,I’ll vote for you
Why can’t governments come up with something along these lines

 

Because anyone proposing this wouldn't get elected. I can see an argument that the state pension shouldn't be taxable, after all no other benefits are. But £40k tax free allowance? Haway man

 

I could be wrong but I don’t think it’s double taxation. I think they club your private and state pension together and whatever is over the limit gets taxed on your private pension.