Banker Posted August 27 Share Posted August 27 30 minutes ago, Luker said: Not after 65. 66 , 67 or 68 depending year you’re born. 2 Quote Link to comment Share on other sites More sharing options...
Luker Posted August 27 Share Posted August 27 5 minutes ago, Banker said: 66 , 67 or 68 depending year you’re born. Yes agreed. State retirement date. Quote Link to comment Share on other sites More sharing options...
Derek Flint Posted August 27 Share Posted August 27 11 minutes ago, Hairy Poppins said: I'm not really sure what the issue is with what Starmer said today. It's bad news so of course people don't like to hear it. But the UK is in a masive financial mess. You can argue until the cows come home about who is to blame, but the reality is we are where we are. The UK is going to have to cut its cloth accordingly. Yes the public sector pay rises may seem questionable, but could we carry on with endless strikes crippling the health system and transport infrastructure? If you want decent public services then they have to be paid for one way or another. There's no endless pot of money. We're going to have a similar realisation on the IOM before too long. Harder to digest on island due to the 'location tax' I.e. cost of travel, goods etc. That said I can see a 25% income tax rate coming 2 Quote Link to comment Share on other sites More sharing options...
Hairy Poppins Posted August 27 Share Posted August 27 9 minutes ago, Derek Flint said: Harder to digest on island due to the 'location tax' I.e. cost of travel, goods etc. That said I can see a 25% income tax rate coming I hate to say it, but I think you may be right. Added to that will be the NHS/Manx Care surcharge. Quote Link to comment Share on other sites More sharing options...
Gladys Posted August 27 Share Posted August 27 32 minutes ago, Luker said: Yes agreed. State retirement date. So, I am full of shit? Quote Link to comment Share on other sites More sharing options...
Luker Posted August 27 Share Posted August 27 (edited) 1 hour ago, Gladys said: So, I am full of shit? Just massively pedantic in this instance. 65 used to be the state pension retirement age. It was used as an example. It’s now up to 68 depending on when you were born. Woo hoo to you for being so unbelievably picky. The point still stands that no NI is paid if you elect to work past state retirement age which used to be 65. Edited August 27 by Luker Quote Link to comment Share on other sites More sharing options...
Happier diner Posted August 27 Share Posted August 27 28 minutes ago, Luker said: Just massively pedantic in this instance. 65 used to be the state pension retirement age. It was used as an example. It’s now up to 68 depending on when you were born. Woo hoo to you for being so unbelievably picky. The point still stands that no NI is paid if you elect to work past state retirement age which used to be 65. And it's the same for everyone? Public or private service. Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted August 28 Share Posted August 28 7 hours ago, Derek Flint said: Harder to digest on island due to the 'location tax' I.e. cost of travel, goods etc. That said I can see a 25% income tax rate coming The Island has contributions to its financial mess of its own, completely unnecessary making. It could have been so different and we could have been in a far healthier position. Quote Link to comment Share on other sites More sharing options...
Gladys Posted August 28 Share Posted August 28 7 hours ago, Luker said: Just massively pedantic in this instance. 65 used to be the state pension retirement age. It was used as an example. It’s now up to 68 depending on when you were born. Woo hoo to you for being so unbelievably picky. The point still stands that no NI is paid if you elect to work past state retirement age which used to be 65. 65 for men and 60 for women, actually. 1 Quote Link to comment Share on other sites More sharing options...
Luker Posted August 28 Share Posted August 28 22 minutes ago, Gladys said: 65 for men and 60 for women, actually. Why merely be that pedantic when you could apply a bit of effort go the whole hog? Quote Link to comment Share on other sites More sharing options...
Gladys Posted August 28 Share Posted August 28 12 hours ago, Luker said: It will hopefully stop all the greedy public sector workers taking retirement then coming back on contract and paying no NI on their second government salary as they’re retired. That's why. 1 Quote Link to comment Share on other sites More sharing options...
Happier diner Posted August 28 Share Posted August 28 13 minutes ago, Gladys said: That's why. Come on Glad...stop being so pedantic cruel and give him a break😇 1 Quote Link to comment Share on other sites More sharing options...
Banker Posted August 28 Share Posted August 28 11 hours ago, Derek Flint said: Harder to digest on island due to the 'location tax' I.e. cost of travel, goods etc. That said I can see a 25% income tax rate coming Only potentially for high income earners eg £100k+ which still compares favourably to UK rates of 40% on over c£43k. Also inheritance, capital gains and other taxes are going to go up considerably in UK and none here. 1 Quote Link to comment Share on other sites More sharing options...
Roger Mexico Posted August 28 Share Posted August 28 9 hours ago, Happier diner said: And it's the same for everyone? Public or private service. Yes Class C contributions mean that employees over state retirement age (currently 66) pay nothing. Employers still pay NI for them though, whether public or private (there were rumours around IOMG not paying their contributions into the fund at one time, but I don't know if anything was ever proved). 1 Quote Link to comment Share on other sites More sharing options...
Lxxx Posted August 28 Share Posted August 28 4 hours ago, Non-Believer said: The Island has contributions to its financial mess of its own, completely unnecessary making. It could have been so different and we could have been in a far healthier position. Human nature never changes unfortunately. Quote Link to comment Share on other sites More sharing options...
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