29th March 2006, 10:15 PM
Quote:quote:I believe that the NI I am currently paying goes to the current crop of pensioners
And so it is in the sense that there is not some big pot of money equivalent to your personal NI contributions locked away in avault with your name attached.
However, the NI you are paying also means that you should be entitled to an old age with a reasonable standard of living, just as the NI paid by the 'baby boomers' means that they are entitled to their pensions now.
Its the government that wants to break the conceptual link between money paid now and our future pensions, so that they can get away with breaking the social contract that is the basis of the state pension. If they can drive a wedge between the generations and convince us that we are shouldering the burden of current pensioners, they will be able to cut our provision for the future more easily.
I think your position plays into their hands: My position is that just as the current pensioners have paid for their pensions and therefore are entitled to them, so we are paying for ours and ought to be entitled to them in the future.
The baby boomers may be causing a problem right now, but in the third richest country (thanks in part to the labour of those same 'baby boomers') in the world we can find a solution that does not involve cutting the state pension provision.