forestboy Posted February 23, 2023 Share Posted February 23, 2023 5 minutes ago, Jarndyce said: Speak for yourselves - it would be a big deal to me! +1 1 2 Quote Link to comment Share on other sites More sharing options...
2112 Posted February 23, 2023 Share Posted February 23, 2023 2 hours ago, Moghrey Mie said: I have just read that 12,000 high net worth (rich) people have left the UK since the EU referendum in 2016. 1,4000 millionaires left last year. Have any of them come over here to take advantage of our wonderful offer? What do you think? I think the IOM can only attract HNWIs that are low quality types, and bring negative publicity. The days of self made millionaires, who know the island, and would aspire to live there upon retirement are probably long gone. In the meantime the island will take any new residents, which no doubt will include some dodgy types. Quote Link to comment Share on other sites More sharing options...
genericUserName Posted February 23, 2023 Share Posted February 23, 2023 (edited) 11 hours ago, TheTeapot said: You could argue that the desperate push to grow the population is because IOM Gov pensions are a pyramid scheme and they always unravel. The state pension is seen by many as having a lot in common with a Ponzi. As the population ages it needs more and more people paying in at the bottom. (Clearly will not happen as companies inevitably employ fewer people over time - which is part of the reason why companies which do not employ many people will need to be taxed / taxed more). Is the state pension a Ponzi Scheme? - Martin Lewis Edited February 23, 2023 by genericUserName Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted February 23, 2023 Share Posted February 23, 2023 4 hours ago, Moghrey Mie said: I have just read that 12,000 high net worth (rich) people have left the UK since the EU referendum in 2016. 1,4000 millionaires left last year. Have any of them come over here to take advantage of our wonderful offer? Is the IoM looking at where they left for, to find out why they preferred that destination rather than IoM? Quote Link to comment Share on other sites More sharing options...
mad_manx Posted February 24, 2023 Share Posted February 24, 2023 10 hours ago, genericUserName said: The state pension is seen by many as having a lot in common with a Ponzi. As the population ages it needs more and more people paying in at the bottom. (Clearly will not happen as companies inevitably employ fewer people over time - which is part of the reason why companies which do not employ many people will need to be taxed / taxed more). Is the state pension a Ponzi Scheme? - Martin Lewis All pension schemes are ponzi schemes. They all depend on fresh blood buying the dream. 1 Quote Link to comment Share on other sites More sharing options...
GD4ELI Posted February 24, 2023 Share Posted February 24, 2023 30 minutes ago, mad_manx said: All pension schemes are ponzi schemes. They all depend on fresh blood buying the dream. BS Quote Link to comment Share on other sites More sharing options...
Hoops Posted February 24, 2023 Share Posted February 24, 2023 21 hours ago, Roxanne said: I always thought Hooper would be a good MHK and I thought Ramsey was lucky to have him representing them. I’ve no idea what he’s like behind the scenes, he might be terrific, but his manner towards the people he represents is pretty damn shocking. Arrogance and petulance are not positive character traits for someone who is paid to communicate with the public. Quite a surprise but at the same time, when someone shows you who they really are, believe them. Good, it's not just me. He bothered to doorstep round the Pondy (I don't think Allinson has ever made his way into here), I has a decent talk with him, he was articulate, passionate, expressed frustration with, for instance,the Liverpool terminal (It wasn't too late to say no etc), was going to put forward a motion to protect South Ramsey beach etc. I was impressed, I voted for him, and then............................. Got fooled again. 1 Quote Link to comment Share on other sites More sharing options...
mad_manx Posted February 24, 2023 Share Posted February 24, 2023 1 hour ago, GD4ELI said: BS Not talking about SIPP etc where you have control.. I'm talking about workplace/ state schemes They will all collapse if they don't get new contributions. Quote Link to comment Share on other sites More sharing options...
Moghrey Mie Posted February 24, 2023 Share Posted February 24, 2023 11 hours ago, Non-Believer said: Is the IoM looking at where they left for, to find out why they preferred that destination rather than IoM? UAE has seen the largest increase in high net worth people in 2022. Quote Link to comment Share on other sites More sharing options...
GD4ELI Posted February 24, 2023 Share Posted February 24, 2023 1 hour ago, mad_manx said: Not talking about SIPP etc where you have control.. I'm talking about workplace/ state schemes They will all collapse if they don't get new contributions. Still BS. I know the Swiss and German state schemes, how they are funded (I receive a Swiss state pension) and these are *not* Ponzi schemes. I also have a UK workplace pension from ~40 years ago, well invested in unit trusts. The pension industry in the UK is well regulated. State pension is more-or-less pay as you go, with retirement age increased as necessary. Quote Link to comment Share on other sites More sharing options...
Banker Posted February 24, 2023 Share Posted February 24, 2023 17 minutes ago, GD4ELI said: Still BS. I know the Swiss and German state schemes, how they are funded (I receive a Swiss state pension) and these are *not* Ponzi schemes. I also have a UK workplace pension from ~40 years ago, well invested in unit trusts. The pension industry in the UK is well regulated. State pension is more-or-less pay as you go, with retirement age increased as necessary. Think he means all state & government pension schemes are ponzi in effect as they have no actual funds like workplace pensions schemes. This is reason you can’t close IOMG pension schemes to new entrants as otherwise there’s no funds coming in to fund pensions in payment. Even with new funds coming in there’s something like £40m shortfall each year which IOMG has to pay to fund pensions. 1 1 Quote Link to comment Share on other sites More sharing options...
GD4ELI Posted February 24, 2023 Share Posted February 24, 2023 17 minutes ago, Banker said: Think he means all state & government pension schemes are ponzi in effect as they have no actual funds like workplace pensions schemes. This is reason you can’t close IOMG pension schemes to new entrants as otherwise there’s no funds coming in to fund pensions in payment. Even with new funds coming in there’s something like £40m shortfall each year which IOMG has to pay to fund pensions. Here's what a Ponzi scheme is. 1 Quote Link to comment Share on other sites More sharing options...
TheTeapot Posted February 24, 2023 Share Posted February 24, 2023 1 hour ago, Moghrey Mie said: UAE has seen the largest increase in high net worth people in 2022. This says a lot. Quote Link to comment Share on other sites More sharing options...
jackwhite Posted February 24, 2023 Share Posted February 24, 2023 Was more curious about the increase in NI. Seems on the face of it to be handing the baton off to everyone, even those that can't afford it. Some described it as the Government increasing their funds by stealth, following the recent increase in minimum wage. Looking at the basic figures, it appears the increases are expected to generate circa £18M (£15M NI, £3M for changes to higher earners). I did though wonder if it could have worked in another way. Whilst there are some earnings studies out there, I couldn't see any with enough detail to tell us how many are earning over £100K/over £50K etc. You can see what I'm thinking here. There are obviously 2 reasons for not doing what I thought they should (taxing the rich more in case it's not obvious) which were: 1. They wouldn't raise enough. Couldn't find enough information to compare this though, as mentioned above. 2. They simply don't want to upset those higher earners. The £3M figure seems a token gesture in the grand scheme of things. As it stands, as we never really get the chance to hold these guys to account, it's likely we'll never know unless we accumulate the information that is released or a FOI request (which I can't be bothered following through on tbh). Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted February 24, 2023 Share Posted February 24, 2023 4 hours ago, Hoops said: Good, it's not just me. He bothered to doorstep round the Pondy (I don't think Allinson has ever made his way into here), I has a decent talk with him, he was articulate, passionate, expressed frustration with, for instance,the Liverpool terminal (It wasn't too late to say no etc), was going to put forward a motion to protect South Ramsey beach etc. I was impressed, I voted for him, and then............................. Got fooled again. Precisely my experience too. Not next time. Quote Link to comment Share on other sites More sharing options...
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