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V801 - Pension Replacement and Elderly Care Bill 2015 (Second Reading) watch

  • View Poll Results: Should this bill be passed into law?
    As many are of the opinion, Aye
    51.22%
    On the contrary, No
    29.27%
    Abstain
    19.51%

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    V801 - Pension Replacement and Elderly Care Bill 2015 (Second Reading), TSR UKIP
    Pension Replacement and Elderly Care Bill 2015

    A bill to replace pensions and make elderly care more efficient.



    BE IT ENACTED by The Queen’s most Excellent Majesty, by and with the advice and consent of the Commons in this present Parliament assembled, in accordance with the provisions of the Parliament Acts 1911 and 1949, and by the authority of the same, as follows:—

    1: Qualification

    1) The person must be a British citizen unless unless;
    i) The person has paid income tax in Britain for ten years of their working life.
    ii) The person has been declared unfit to work during their working life but has lived in Britain for over ten years.
    2) The person is over the age of 70.
    3) The person must be living in Britain to receive 100% of the pension replacement allowance.

    2: Pension Replacement Allowance

    1) A person matching the requirements in (1) will receive a monthly payment depending on their age.
    2) This payment will be paid in full on the first Monday of every month.
    3) On request the payment may be paid on a weekly basis depending on their age and on request.
    4) All contributions made by the state in its role as an employer to a pension scheme can be transferred into a private pension scheme provided;
    i) The claim is made within 12 months of this bill enacting.
    5) The amount paid will be up to £17,000 depending on income levels as follows via the methods in 2.1 or 2.3;
    i) £17,000 minus a person’s salary will determine the amount paid out.
    ii) People in a job will receive an additional £2000.
    iii) People choosing not to work will receive £15,800 under the age of 80.
    viii) People declared unfit for work will receive £18,000.
    ix) People over the age of 80 will receive £18,000 regardless of their employment status.
    6) All payments are tax free.

    Worked Example

    Tarquin has an annual salary of £25,000. As his salary is greater than £17,000 the state will not pay him an allowance, but as he is in work he will receive £2000. His total annual income will be £27,000.

    Florence has an annual salary of £14,000. £17,000 - £14,000 = £3000. She will be payed £3000 plus an additional £2000 for being in a job. Her total annual income is £19,000.


    3: Replacements

    1) This allowance will replace the following;
    i) Winter Fuel Payments
    ii) Attendance Allowance
    iii) Pension Credit
    iv) Public Transport Concessions
    v) TV Licence Concessions
    vi) Personal Independence Allowance
    vii) All pension contributions made by the state after the commencement of this bill.

    2) Employee contribution to private pensions will be voluntary.

    4: Exemptions

    1) All people over the age of 70 will be exempt from paying the following:
    i) Council Tax
    ii) TV Licence
    iii) Public Transport Fees

    5: Inflation

    1) All figures in this bill will change each year.
    i) 2 % annual increases in times of inflation
    ii) A free in times of deflation
    iii) Inflation will be measured using HICP.

    6: Definitions

    1) Public Transport refers to bus and train travel.

    7: Short Title, Commencement, and Extent

    1) This bill if passed may be known as the Pension Replacement and Elderly Care Act 2015
    2) This bill will come into force on the 1st April 2016.
    3) This bill shall extend the whole of the United Kingdom.
    5) V765 remains legislating for resident’s income for people below pensionable age.

    Changes

    Typing errors have been corrected.
    Mathematical errors have been corrected.
    Addition of a definitions section.
    Privatisation of Meals on Wheels removed for a separate bill.
    Rogue section about at-home care removed.
    Simplified inflation chapter.
    The cost of free public transport and excluding over-70s from the TV licence will be cost neutral as the benefits currently covering those costs will be axed.

    Notes and Costing
    The qualifications ensure all British citizens receive a minimum income while those who have moved to Britain and have contributed also benefit. There is also a safety net for those who enter Britain with the aim of working but suffer unfortunate circumstances.

    Currently the average pension in the UK is £15,800. This bill provides all elderly people with a minimum of income of £15,500 which is tiered and can be as much as £17,000, for those in work; the poorest will always be better off. Those not in work will receive £15,800, with those declared unfit for work receiving £18,000. The extra £1000 for people unfit to work can help cover caring costs.

    Highlighting the bars in the population pyramid for the year 2015 reveals there are 4.87 million people over the age of 70 and under the age of 80 in the UK, and a further 3 million over the age of 80. Paying £18,000 to them all will cost £141.66bn which is below the current £154.7bn spent on pensions. However, not everyone will receive £18,000 taking the total cost down.

    The inflation requirement to pay tax in the last twenty years or the last fifteen years will ensure a higher value of money in real terms has been paid in by the claimant. Requiring people to live in the UK to receive the package will prevent a flood of money out of the country with over-70s looking to retire abroad. The government should not be paying people to retire abroad; that is what a private pension is for.

    The cost of excluding over-70s from council tax will fall on the local authority. We believe the impact on the elderly will be an increase in their disposable income despite needing to pay for fuel without subsidies; the subsidies will be in the higher guaranteed income for the elderly who receive the benefits.

    The commencement date of 1st April 2016 will be the start of the next financial year.

    Average UK Pension: http://pensionquestions.co.uk/saving...rement-income/
    UK Population Pyramid: http://www.ons.gov.uk/ons/interactiv...vc1/index.html
    Current Spending on Pensions: http://www.ukpublicspending.co.uk/
    2 Million Over 80 (Page 3): http://www.ageuk.org.uk/Documents/EN....pdf?dtrk=true
    Meals on Wheels: http://www.theguardian.com/society/p...ls-social-care

    Overall Costs

    TSR Saving > £13.04bn
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    Pensions of at least £15,800 per MONTH?! Good grief, I don't think so guys.
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    (Original post by Green_Pink)
    Pensions of at least £15,800 per MONTH?! Good grief, I don't think so guys.
    Where does it say anything about per month?
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    (Original post by Jammy Duel)
    Where does it say anything about per month?
    Well, 2.1) mentions that payments are monthly, and maybe it's just my 1.30AM brain but I can't see anything suggesting the amounts listed aren't therefore monthly payments.
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    (Original post by Green_Pink)
    Well, 2.1) mentions that payments are monthly, and maybe it's just my 1.30AM brain but I can't see anything suggesting the amounts listed aren't therefore monthly payments.
    Well, two readings and the lack of specification of those values being the annual totals slipped through.

    Implicit as annual from the examples though
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    That is a good sport with the unclear wording although the examples do imply it is an annual total. If Birchington changes 2(5) to read "The amount paid will be up to £17,000 per year depending on income levels paid as monthly instalments via the methods in 2.1 or 2.3" the problem will be solved.
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    (Original post by Nigel Farage MEP)
    That is a good sport with the unclear wording although the examples do imply it is an annual total. If Birchington changes 2(5) to read "The amount paid will be up to £17,000 per year depending on income levels paid as monthly instalments via the methods in 2.1 or 2.3" the problem will be solved.
    I'm likely to oppose this anyway simply because of the sharp rise in the pension age. My Mum, for instance, has paid into the system her whole working life with the agreement being she could claim a pension at 60. That has been changed to 66 and a quarter, which is absolutely ridiculously and completely unfair. Now you want to tell her that she can't claim until 70, an entire decade after she'd been promised.
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    (Original post by Green_Pink)
    I'm likely to oppose this anyway simply because of the sharp rise in the pension age. My Mum, for instance, has paid into the system her whole working life with the agreement being she could claim a pension at 60. That has been changed to 66 and a quarter, which is absolutely ridiculously and completely unfair. Now you want to tell her that she can't claim until 70, an entire decade after she'd been promised.
    Well, will be a brilliant day when you spend only a tiny fraction of your life working due to no change in retirement age and an ever increasing lifespan. That will work brilliantly. How high will our retirement age be? 70? 80? 90? 100?
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    (Original post by Green_Pink)
    I'm likely to oppose this anyway simply because of the sharp rise in the pension age. My Mum, for instance, has paid into the system her whole working life with the agreement being she could claim a pension at 60. That has been changed to 66 and a quarter, which is absolutely ridiculously and completely unfair. Now you want to tell her that she can't claim until 70, an entire decade after she'd been promised.
    It is a case of fiscal balance coming before keeping older people happy which is understandable with the fragile economy. If it is a private pension everything continues as it used to be but state pensions are now claimed at any age over 55 at differing values.
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    (Original post by Jammy Duel)
    Well, will be a brilliant day when you spend only a tiny fraction of your life working due to no change in retirement age and an ever increasing lifespan. That will work brilliantly. How high will our retirement age be? 70? 80? 90? 100?
    It should be adjusted for those yet to enter the workforce. You should not pay into a system for decades, and then see the state turn up to change the rules.
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    (Original post by Green_Pink)
    I'm likely to oppose this anyway simply because of the sharp rise in the pension age. My Mum, for instance, has paid into the system her whole working life with the agreement being she could claim a pension at 60. That has been changed to 66 and a quarter, which is absolutely ridiculously and completely unfair. Now you want to tell her that she can't claim until 70, an entire decade after she'd been promised.
    Partly agree that it's unfair, but at the same time, surely nobody is as stupid as to believe that they will actually get the pension they're promised at the time they're promised?!
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    (Original post by Green_Pink)
    It should be adjusted for those yet to enter the workforce. You should not pay into a system for decades, and then see the state turn up to change the rules.
    Tell me then, how long is our generation going to live on average, and thus at what age should we have our retirement age set at?
    You cannot answer this question perhaps almost a century before the reasonable age of retirement, there is no way of telling how technology will advance over the next 50 years and thus how long we can expect to live.
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    (Original post by Green_Pink)
    I'm likely to oppose this anyway simply because of the sharp rise in the pension age. My Mum, for instance, has paid into the system her whole working life with the agreement being she could claim a pension at 60. That has been changed to 66 and a quarter, which is absolutely ridiculously and completely unfair. Now you want to tell her that she can't claim until 70, an entire decade after she'd been promised.
    Well, **** happens. We'll be lucky if we receive any state pension at all given how the population and economy change.
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    (Original post by Life_peer)
    Well, **** happens. We'll be lucky if we receive any state pension at all given how the population and economy change.
    Is that the attitude you take to all your voters? As a Tory you should be very, very bothered by this. A lot of your success has been to do with the pensioner bloc turning out in high numbers to vote Conservative. If you do this then the next crop of pensioners may not be in such a rush to do so.
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    Turnout is rather poor so far.
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    (Original post by Green_Pink)
    Is that the attitude you take to all your voters? As a Tory you should be very, very bothered by this. A lot of your success has been to do with the pensioner bloc turning out in high numbers to vote Conservative. If you do this then the next crop of pensioners may not be in such a rush to do so.
    It's hardly our fault that someone destroyed the conservative society around ca. 2000. Is it not particularly liberalism and the emancipation of women (who even go to the lengths of claiming they don't need men) responsible for these dreary prospects?
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    (Original post by thehistorybore)
    Turnout is rather poor so far.
    Labour can't double-vote. :awesome:
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    (Original post by Life_peer)
    Labour can't double-vote. :awesome:
    PRSOM!!
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    (Original post by Life_peer)
    Labour can't double-vote. :awesome:
    I've never seen a post deserve the honour of Comic Sans so much.

    PRSOM
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    I must admit I'm rather concerned about §3(2). Will you have no contributions?
 
 
 
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