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Corbyn to borrow £58 billion to repay WASPI woman.

(199 Posts)
newnanny Wed 27-Nov-19 12:24:55

He said after about 6 times of asking how it will be apid for that he will borrow more to do it.

www.express.co.uk/news/politics/1209660/andrew-neil-jeremy-corbyn-interview-labour-party-tax-spending-policy-election-latest
even
This means the debt will be passed on to the next generation to pay for. That can't be fair for our children and grandchildren to have to compensate us when they will have to work until 70 or more before getting a pension. What do you think?

Happilyretired123 Thu 28-Nov-19 11:41:52

Debt has increased in the last 5 years under Conservative Party and business growth has decreased. Growth will shrink more after Brexit. I worry about my children and grandchildren who won’t have access to an NHS or affordable housing.
Headlines in the popular press are not the best sources of information. More people in secure work spend more and pay more tax, not to mention taxing the large American corporates more fairly.

essjay Thu 28-Nov-19 11:39:48

I was born in 1956 so have to wait until i am 66 to claim my pension, and i received no notification of the change in fact i had only a few months before received a pension forecast for retiring at 60. I am now working 3 part time jobs and claiming universal credit. I have high blood pressure and oesteoarthritis .I get a little help with council tax and can claim free dental treatment and glasses. I live 1/2 mile away from the boundary that stops me getting a free bus pass, not that there are many buses where i live! Yes it would be lovely to think if labour got in we would be compensated, we can live in hope!

LondonMzFitz Thu 28-Nov-19 11:36:51

I too am a WASPI - I do remember this legislation being made but 60 seemed a long way off and I was in good health, married, in secure employment and a manageable mortgage. Now I am 60, I’ve psoriatic arthritis which is managed by weekly injections and medications. Husband after 27 years together left me. I’ve been made redundant twice, in 2003 and 2008 – both times I was swiftly back into full time employment but at a lower wage than previously; right now I travel through London approx. 1 hour each way. Husband wants a divorce that I can’t afford and the house sold now our son has moved out; doubtful I could afford to buy somewhere in order to keep working, I may have to rent ... I’m bone tired at the end of each week. I couldn’t have foreseen this in 1995 and as my husband always earned less than me I was the main breadwinner, I couldn’t have saved for a personal pension independently.

When BJ became prime minister I became a card carrying member of the Green Party. I’m a Londoner and we’ve seen the waste of money that man caused - on the Garden Bridge (£52 - £53 million) and water cannons (£322 thousand), Bendy buses (£321.6 million – source www.theguardian.com/politics/2017/aug/18/bridge-940m-bill-boris-johnsons-mayora-vanity-projects-garden-bridge-routemaster-bus) I live in a very safe Labour constituency – except for when the popular LibDem candidate stood and won in 2010 – and then her party joined with the locally detested Conservative Party. The LibDem election promise of reviewing Student fees came to nothing when it appeared they hadn’t done their sums correctly – (source www.bbc.co.uk/news/uk-politics-19646731) – why I could not and would never again vote LibDem. If this promise by the Labour Party for the WASPI women comes to nothing they have to know the uproar that will follow.

Rosina Thu 28-Nov-19 11:34:05

Sorry - Teegee.

Rosina Thu 28-Nov-19 11:32:38

Tegee - for how long? You can't save lives with a service that has collapsed because the country is bankrupt - we will be another Venezuela, the country JC so admires and sees as a model, with riots, shortages, and civil unrest like we have never seen,.

Nannan2 Thu 28-Nov-19 11:28:06

Happygirl179,id look into that with a solicitor,im sure a law somewhere states even at/after divorce youre entitled to a cut of your ex- husbands pension fund??

Shazmo24 Thu 28-Nov-19 11:27:36

I thought I would retire at 60 - was born in 1960 but nope the only thing I will get for free is my prescriptions
Will have to wait till I'm 67 for state pension & bus pass (if still going!)

Jaycee5 Thu 28-Nov-19 11:12:27

Dinahmo People don't want the truth. Even after you have posted it, people have ignored it.
They also ignore the fact that it is being paid over 5 years and the need to stimulate the economy which only ever happens successfully by putting money in at the bottom rather than the top.
I simply don't understand why people want more cuts (almost all against those least able to cope with them) rather than an economic stimulus which a majority of economists agree is necessary.

Nannan2 Thu 28-Nov-19 11:11:35

Men AND womens retirement age should have been set at the same age in the first place,then this wouldnt all have been a problem, they should have had both set at 60,or both set at 65! I thought women were supposed to have a higher rate of living longer anyway,so why did anyone ever think they needed to retire sooner than men in the first place??hmm and no ones asking the common man about it? Just asking the women and the politicians? Yes it may have been the rule 'at the time' but now the rules are different,just as all the other 'equality' rules are changing- so,DO you want to be equal to men,or not,ladies you cant have it both ways.

Callistemon Thu 28-Nov-19 11:09:38

Local government and civil service pension contributions

okimherenow well, they didn't spend my pension contributions because they returned them to me when I left to have a family, thereby neatly diddling me out of any pension!

It was given back as 'a gratuity' - my own money.

omega1 Thu 28-Nov-19 11:09:29

I agree with you it would make life so much easier for pensioners if we all got the new higher rate.

MadeInYorkshire Thu 28-Nov-19 11:08:21

Good grief, the Tories have borrowed far more and we had 'austerity' - that was a load of lies, that we had all these cuts in order to pay it back - the debt is now much greater than it was!

Since the Conservatives came to government, the UK national debt has increased from £1 trillion to £1.8 trillion. The Tories lied again when they said we needed to cut everything in order to 'pay it back'!

daughterofbonniebelle Thu 28-Nov-19 11:06:57

For heaven’s sake, all major governmental initiatives are paid for by loans or taxation. That’s how it works.

growstuff Thu 28-Nov-19 11:06:30

How do you work that out Babs? I won't receive my state pension until I'm 66 but Labour's calculator says I would receive £31,200 over five years.

This is beginning to seem like a playground of screeching kids with nobody knowing the facts.

okimherenow Thu 28-Nov-19 11:06:14

As are most local and Govt pensions.
Our contributions have been spent as they are collected and are part of Govt income.

growstuff Thu 28-Nov-19 11:04:11

How were they robbed issibon? Emotive language doesn't hide the fact that nobody has ever paid into a "pension pot" and nobody has ever been given promises about how much and when they would be paid.

growstuff Thu 28-Nov-19 11:02:10

BusterTank This country has NOT had austerity as a result of the last Labour government. The Conservatives imposed austerity as a means of making the wealthy wealthier. Clever media propaganda brainwashed people into thinking it was necessary and that the poorest somehow deserved their fate. MPs like Priti Patel are still preaching that message and people still believe it. Wake up people! Stop buying the tabloids and try to understand what has really happened and what is still happening. You're being led like the children in the Pied Piper of Hamlin.

issibon Thu 28-Nov-19 11:01:32

Waspi women were robbed!
Politicians civil service all on million pound plus pension think John berkow
They can reduce there pension waspi women looked after there children parents etc no child care then widow's pension only for one year lot of my friends in poverty .. who wants to employ us so have to do manual labor! Knees ache back hips .. my younger brother retires before me!

Fiachna50 Thu 28-Nov-19 11:01:29

Teegee, I won't be supporting Mr Johnson. However, what has happened to the WASPI women is awful. Technically Im not one having been born in the early part of the 1960s. I still get no state pension till I am 67. That was my forecast. However, I wanted to ask a question. Who, from the WASPI ladies here, received any notification that the pension rules were being changed. I keep hearing women were notified, but out of my WASPI family and friends,none of the ladies I know had any idea and received no letter. For me being born in the 60s,I got no notification at all that I would not be getting State Pension till I was 67. I only found this out after doing a State Pension forecast online and I had to top up contributions I had missed.

SueWll Thu 28-Nov-19 11:01:18

Growstuff That is the sentence that worries me "The women who will benefit most are those who need it least"
We have completely changed our lives because if the delay. We've downsized twice and are now in a house in the 'starter home' bracket. We've had a lodger, and all the lack of privacy that has involved. I've taken on work as and when I could find it - health and age being barriers to getting employment. In other words we've made the best of it. But with the £35k missing we could have stayed in our family home and had the life we had planned. I deserve compensation too.

Bellocchild Thu 28-Nov-19 11:00:24

It's worse than it seems for WASPIs. I was born in 1948 and was therefore entitled to take my state pension at 60. But I was still working, and therefore delayed claiming it until I actually retired. The delayed unclaimed portion was added to my four-weekly pension payments, and it made a nice little uplift in income. The longer you leave it before you claim, the more you get. And as I made the mistake after university of paying the Married Woman's contribution to economise, I was only entitled to 85% of the full pension anyway - so it helped to level the playing field slightly. WASPIs are entitled to everything they can get...

Babs758 Thu 28-Nov-19 10:59:20

Under labour’s recompense scheme I get £1250 to be spread over five years. I am losing £30k plus by having to work until 66 rather than 60. I did know back in 2011 about the changes so have had some time to plan but our USS scheme changed too to 66 so double whammy!

Nannan2 Thu 28-Nov-19 10:58:32

Does no one feel guilty that the men folk had to work longer and pay in more for decades?? Im not normally a 'feminist' or anything,but fairs fair,you cant want all the equality stuff against the men and yet want an easier ride when it comes to pension/retirement???Be fair ladies!hmm

Jue1 Thu 28-Nov-19 10:58:09

My pension age went from 60 to 66.
I have no qualms about getting any money, any compensation.
I paid into my pension from the age of 16.
What I do with the money, in terms of giving it to children/grandchildren is really not the issue. For some, it will lift them out of penury.
The moral issue is that with little or, in my case, NO notice, money was taken from us that we had rightly earned.
Don’t muddle the issue with what you do with the money it is not relevant.
Sad to say, we won’t get the money anyway but if we did, it would be a lovely problem to have.

growstuff Thu 28-Nov-19 10:56:51

freyja I'm afraid you were conned years ago if you ever thought it was your own money. You never paid into your own pension pot. In fact, those who have paid in most don't receive bigger pensions because the state pension redistributes wealth.

Whether people are better off with the old or new state pension depends how long they live. It sounds as though you missed out on Home Responsibilities Protection if you had to pay for years when you had children. I'd be miffed about that.

People have never been able to pay in "extra" like they could with a proper insurance fund. I'll be two years short of receiving the maximum pension despite having 47 years of contributions, but I can't pay any more.

I wish people would just take a step back and see what Labour's offer actually means and who will benefit most. Righting an alleged injustice with another doesn't solve anything. It would be far fairer to revoke and adjust working age benefits for men and women and concentrate on the 2011 changes, but the WASPI and Backto60 activists aren't interested because they wouldn't benefit.