Re: the state of the nhs after 10 years of the one eyed nose picker....

In article <gIHz2YZ936AHFwia@xxxxxxxxxxxxxxxxxxxx>,
Robert Henderson <philip@xxxxxxxxxxxxxxxxxxxx> wrote:
The vast majority do not - more than half the population do not have
savings which would support them for a month if they lost their jobs -
More than half the population do not have jobs to lose.
Actually, pedantically wrong as at the latest count those in work exceed
29 million, or more than half of the 2001 census figure.

Do I recall an estimated 10% of the population not in the
census, and an estimated 1.2M net immigrants since then? But no
matter, as a large majority of the population are not OAPs, and
their finances are irrelevant to your main thesis.

However, that
is not the point because pensioners are by definition not expected
generally to be in work and children never to be in work capable of
supporting them. The important point is that the vast majority of people
have no substantial wealth. RH

Are family houses not "substantial"? But in any case, we
are not talking about people in general but about recent or soon-
to-be pensioners. Many of these have been unwilling or unable to
make significant provision [beyond the OAP] for their retirement;
but many others, thanks to the extensive middle-classification of
recent decades, have done quite nicely.

[...]
But many over-60s are in a more comfortable financial position, esp if
they can take the opportunity to "downsize". [Note -- "many", not "all"
or "the vast majority of". It's just no longer rare.]
The old have less money on average than the young. Fact. RH

Possibly. But they have a lot more money, "on average",
than their counterparts of forty or fifty years ago. The success
of Saga and other provisions for over-50s and over-60s testify to
that. Likewise the patterns of home ownership and car ownership.
"Grey power" is everywhere; and it doesn't come from destitute
old people hidden away in the scrotty public provision of care
homes.

But I suspect
that it will still be the case that professionals will do what they
can to provide for their old age.
Most people are not "professionals". The average wage is currently 25K.

But a substantial minority are; and the average wage of
the population at large is different from the average income of
professionals nearing retirement.

Not at all. If you have a joint OAP with your wife that is 8K pa for
starters. Add in 2k for free travel, free prescriptions and eye tests,
winter fuel allowance, taxpayer subsidised entry to entertainment
facilities etc and you will easily breast the 10k mark.

Now knock off income tax, VAT, council tax, fuel duty,
and the extortionate tax on beer and wine. When was tax freedom
day this year? Early June? So early May for those not paying
NI. Meaning that those with an income of 30K, corresponding to
a private income of 20K on your basis of 10K OAP/benefits, and
thus to a retirement salary of around 30K for those on a "half
salary plus lump sum" scheme, will still be net contributors.
That's not a large final salary, even for academics ....

The of course
iyou or your wife will almost certainly be calling on health and social
care extensively if you live past 80. RH

Very possibly; and having to pay for it ourselves, under
present arrangements.

[... I] shall not be retiring on half pay but on a lump sum
Dear me, you are in trouble.

I didn't know you cared. What on earth makes you think so
from the information provided?

Everyone spends money. Next! RH
Yes, but it's easier for an 80yo who is still alive to do this
than for an 80yo who died at 70.
Sigh. The money left by the 70 year old will be spent by someone.

Under current IHT regimes, only the stupid and the unlucky
do not spend their money before they die. Otherwise, you perhaps
forget that many of us are required by current tax laws to put large
dollops of money into an annuity which dies with us. Spend, spend,
spend ....

Still on the Bevan fantasy. Live longer = cost more overall. RH
... live longer = pay more income tax and VAT,
Not on your meagre income. RH

"Do stop projecting." And fishing.

--
Andy Walker, School of MathSci., Univ. of Nott'm, UK.
anw@xxxxxxxxxxxxxxxx
.

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