Pension changes soon to happen

[fred]

Government Pensions in Australia are getting tougher to get with the constant new rules being implemented..

Many Aussies that are about to start receiving pensions will have to live in Australia (resident status) for at least two years before or two years after qualifying to have pension portability (in other words, they can be pensioners where ever they like).. a lot of pissed off Aussies having to leave their homes and families in the R.P to qualify.

I have a feeling that similar rules could be applied in the U.K in coming years.

Nothing sacred about old age pensions anymore.

[Terpe]

....I have a feeling that similar rules could be applied in the U.K in coming years.

Nothing sacred about old age pensions anymore.

I don't think so Fred. The UK and Australia pension structures are totally different and not comparable.

The UK pension is contribution based.

[fred]

I don't think so Fred. The UK and Australia pension structures are totally different and not comparable.

The UK pension is contribution based.

Yes,I realize that Peter.. I think what I'm trying to say is that it doesn't really matter where the money comes from if it has already been spent or can no longer finance future pensions.
I see the UK pension scheme as a bit like a long running Ponzi scheme.. The ones that got in early will have had a wonderful pension and a wonderfully long retirement but the ones there after not as good,and the ones after that...
Part of the Aussie pension system (Superannuation) made many Australians feel that they were millionaires
as they threw everything and the kitchen sink into their index linked Government pension pot.
Of course..they all felt like proper mugs after the financial crash a few years ago and found that they were not rich at all and would need a plan B and C in order to ever have enough to retire at all.
Of course they still have their tax financed pension schemes and it is the rule changes to this pension and what I was referring too.. In reality,something has to give when past projections go pear shaped for pensioners now and in the future and it usually comes in the form of the Government shifting fundamental,set in stone and so called sacred goal posts.. Sacre bleu!!

Mean while..In the UK..

The £5 TRILLION burden of state sector pensions: Laid bare for the first time, £180,000 bill facing every family in Britain

Read more: http://www.dailymail.co.uk/news/arti...#ixzz38Rmf5dGU
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Sounds like a Ponzi scam to me!!