In the US we have social security. What do the people of the UK have as a pension? is it solely investments?

Question

and savings?

Answer 1

We pay all our working lives to the government a tax called National Insurance. This covers our medical need and at retirement, dependent on how many years you have actually paid in you get a pension. It is in no way sufficient to cover all ones needs but it gives a reasonable base and a bit of a safety net. Most sensible people also save into private pension schemes to top up this state pension but then it is classed as an income and tax is taken from it. Savings and the interest from them is another way to supplement income but inevitably the capital starts to fall. Those that do not save and plan for the future tend to get handouts from the government. Some in this category have not had real opportunities in life and need the help. Others were just lazy and continue their life time of sponging off others into retirement.
Good, across the atalantic question.

Answer 2

Hi no most people have subscribed to the state pension fund and after accruing 40 years the entitlement is about £80 per week.
Now on top of that some have paid into a non contracted out system that can give a lot more, and further to that can have subscribed to a private pension plan.
Basically therefore you cannot accurately say what each person will get.

Answer 3

we work all our lives and pay into national insurance but it is not insurance at all it is general taxation, then we get a pittance of a pension of £80. of course if you are feckles and lazy or never do a days work in your life, don't save anything, then this wonderful socialist government will give you pension credits,lord help you if you have a modest private pension, the state retirement pension
comes off your tax allowance, so it was a complete waste of time saving.

Answer 4

We have National Insurance and our work's pensions.

Answer 5

Listen dick head, I don't ask you where you get your money, don't ask me where I get mine.