I think you are right, every 4 weeks.
Have you got your pension forecast?
- Thread starter JohnD
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People who retire before the get it usually find it useful even if they have an index linked pension. That down to headline inflation not really relating to basic cost of living increases. The other aspect is that the index linked increase in many cases will be taxed.
I don't think I have ever had a monthly bank statement when my state pension hasn't gone in.
You wouldn’t do as there is always at least 4 weeks in every month. Most people will, at least once a year, have two payments in one month because you get 13 payments per year.
If you get paid monthly, are your payments varied depending on the number of days in the month?
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That's due to the Tory Stealth Tax of freezing tax allowances.
It's a trick to put up taxes when inflation reduces the value of money.
In April 2021 the Personal Allowance was £12,570
It has been frozen at that figure until April 2028. This includes the income tax personal allowance (£12,570), national insurance contributions (NIC) thresholds (various), the inheritance tax nil rate band (£325,000) and residence nil rate band (£175,000).
This has the effect of increasing tax on people even if they just try to keep up with inflation, and even if they get an increase that is less than inflation, which means they get poorer but pay more tax.
And pulling more low-paid people and pensioners into paying tax.
The Chancellor in 2021 was a fellow called Sunak.
There's an election coming up so the Hunt may sprinkle some crumbs on us.
Are the other lot moaning about it? Do you think if they get in they’ll scrap it? No f'cking chance!
I'm surprised you have already read and compared the election manifestos for both the outgoing and the incoming party
Because they haven't been published yet.
Don’t have to. Do you? Expect to hear something along the lines of "They left us no choice….."
Same as me (plus private pension).
That'll cover your lift passes.
Even the over-65 tickets can be fairly expensive.That'll cover your lift passes.
He can probably afford to.
Tricky because of late it's become increasingly obvious not enough "tax" from all sort of aspects is insufficient to maintain our particular system. This even includes council tax.
Starmer has already indicated that. They do have thoughts on getting money from sources that current;y aren't taxed to use for specific purposes. VAT take will currently be high as the people who buy have the money negating the lack of growth. Income tax take has grown a well due to wage increases.
Labour also have thoughts on one particular state owned company. Curiously in another thread even right wingers see some sense in that. The Tory currently own and by the look of it control to some extent 2. Labour ideas in this area are a bit different. Goals are the main aspect - what they are expected to do. I'd hope who ever runs it doesn't turn out to be another BritishVolt. Or a Delorean.
TBH I would favour a switch to USA style tax breaks. Way more of them. Get elected aiming to do that when some would pay more tax? Fat chance but driving the take down when ever possible is part of the problem.
Debt levels - interesting to look at higher tax paying Scandinavian countries in the exports area and which one has most problems.
Hunt has the advantage that the tories can make all sorts of extravagant promises because they know they will not be in power to fulfill them.
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NI should be applied to all earning over the threshold, not just per job. Employers should have to pay NI at a much lower threshold.
I too also have a private pension.
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