UK pensioners tax increase the facts how you are effected

wanderer


Joined: 05/02/2009
Posts: 1653

Message Posted:
23/03/2012 14:41

Granny tax backlash: Fury as full scale of Chancellor's raid on pensioners emerges

Around 700,000 people turning 65 next year will be hit the hardest

The tax will take £3.5billion from more than 4.4million pensioners

Senior Tories say the move is the Chancellor's biggest blunder

By TIM SHIPMAN and JAMES CONEY

PUBLISHED: 22:52, 22 March 2012 | UPDATED: 10:46, 23 March 2012

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The full extent of George Osborne’s stealth tax raid on pensioners was laid bare yesterday.

Around 700,000 people turning 65 next year will be hit the hardest – losing £323 annually with the end of age-related income allowances.

In all, the ‘granny tax’ will take £3.5billion from the pockets of more than 4.4million pensioners. Senior Tories have denounced it privately as the Chancellor’s biggest blunder.





Read more: http://www.dailymail.co.uk/news/article-2118993/Granny-tax-backlash-Fury-scale-Chancellors-raid-pensioners-emerges.html#ixzz1pwXOsUO3

paddywack


Joined: 04/05/2009
Posts: 959

Message Posted:
23/03/2012 14:52

Nearly as bad as the 5 billion Goorge Brown took in his first budget. Hope the grey vote remember this at the next election.

EamonnMc


Joined: 18/06/2010
Posts: 1019

Message Posted:
23/03/2012 14:59

As usual,they take it from the needy and give it to the wealthy ,bankers,brokers,fund managers etc.

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
23/03/2012 16:54

George Brown!!!



Getting a bit desparate in your support of people in power who are part of the "wealthy ,bankers,brokers,fund managers etc." clique,when you have to look back 45 years to prove how lucky we are today,with Davey ,Cleggy, Ozzy,and all the other 'we are all in this together' millionaires.



As George was never chancellor I presume you mean Gordon Brown,and as he wont be standing at the next election,but clegg cameron etc will be ,dont see your point

deputydawg


Joined: 30/03/2010
Posts: 1727

Message Posted:
23/03/2012 17:13

Paddywack. As I remember it Gordon Brown admitted trousering 5 Billion from private pension funds but when the accounts were some time later audited the figure was 8 Billion and in spite of protests and advice to desist he continued to take similar sums year on year. His policies destroyed the strength of the pension pot and I, like many, many others, lost not only any profits being made but had a sum left for an annuity less than what was paid in over decades. The pension which I eventually received, less than a fifth of the forcecasts, has left me needing to live to 149 years of age to recover what I paid in !

walkerscott


Joined: 13/08/2009
Posts: 901

Message Posted:
23/03/2012 18:48

It' about time people woke up. The Lib Dems are allowing all this to happen.

Even the new pension rate which they say will be around £140- per week is no good to the poor and less able because it takes them above the set means tested rate and prevents millions from getting the Pension Top-Ups which then allows them to not be charged Council Tax.

When the New Pension Rate kicks in, you'll possibly be getting £40- more per week on paper but then the less well off, and there are millions of them, will have to pay their Council Taxes to the Local Authorities!

All the Government is doing is reallocating funding to the Local Councils but pretending to give Pensioners a real raise, it's all a big government think tank job which the newspapers haven't yet reported on.

rejela


Joined: 09/02/2011
Posts: 293

Message Posted:
23/03/2012 19:24

Perhaps the UK should bring pensions in line with those here in KKTC. Some people get three pensions, they are better off than spme people who work, Especially if they pick up one in Euro's.



How the elderly can live on Uk pensions and ride out the storms of winter goodness knows. How many pensions who are too frightened to use the heating die of hyperthermia? And these people worked and paid in for 50 plus years! I wonder how the wealthy would fair if they had to live on the same money as the poor?

Quarmby


Joined: 15/09/2008
Posts: 975

Message Posted:
23/03/2012 20:01

rejela



perhaps it is very easy for the TRNC government to hand out high pensions, which are being wholly paid for by Turkey?

scruff


Joined: 15/07/2008
Posts: 1070

Message Posted:
23/03/2012 20:20

What many people posting on financial websites seemed to have misunderstood about this is that it will affect existing pensioners who are women between 60 & 65. I have been only getting the working rate of personal allowance on my pensions since I was 60. I was expecting to get the higher rate next year when I shall be 65. Not now. My allowance will be frozen at £9205 (I think). I was unfrotunate enough be be born in October 1948. I needed 39 years contributions & missed out due to paying the married womens stamp for some years during my late teens & early 20s. My sister on the other hand born in 1950 only needed 30 years contributions & still received her pension at age 60, but just a few months late. Last year I paid more than £3.5k to buy the missing years from my private pension. I can assure you I'm far from wealthy, but still pay UK. tax, even though I get nothing for it, living here full time.

If the Tories get elected after this home goal, I'd be very surpised. contd.

scruff


Joined: 15/07/2008
Posts: 1070

Message Posted:
23/03/2012 20:20

contd.

I'm now just hoping that the outcry brings about a u-turn.