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NIB Deficiting ON u

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How do you feel about NIB Deficiting on u

Good
1
5%
Not good
13
68%
I like to be deficited on
5
26%
 
Total votes: 19

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De Dragon
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Re: NIB Deficiting ON u

Postby De Dragon » April 12th, 2022, 10:39 pm

hover11 wrote:Impsbert way ahead....lots of smoke and mirrorsFB_IMG_1644841227899.jpg

Colos like he getting bad rake from Balisier House :lol:
See what happens when you complain about condiments? :lol:

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death365
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Re: NIB Deficiting ON u

Postby death365 » April 13th, 2022, 3:26 pm

Retirement at 65 coming up soon :(
20220413_152523.jpg

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hover11
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Re: NIB Deficiting ON u

Postby hover11 » April 13th, 2022, 3:31 pm

It has to be done , government running this place like a parlor....the place must buss if you spending more than you earn then on top of it them pensioners making it bad for the ones that really want to retire at 60. Collecting pension then going back out to work then you clearly not ready to retire.

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Dizzy28
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Re: NIB Deficiting ON u

Postby Dizzy28 » April 13th, 2022, 3:51 pm

firetruck this sheit!!!

My two private pension plans have an option to take at 50 and that's where they will probably be used oui!!!


Work till 65 nothing !!!!
death365 wrote:Retirement at 65 coming up soon :(
20220413_152523.jpg

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hover11
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Re: NIB Deficiting ON u

Postby hover11 » April 13th, 2022, 4:00 pm

Dizzy28 wrote:firetruck this sheit!!!

My two private pension plans have an option to take at 50 and that's where they will probably be used oui!!!


Work till 65 nothing !!!!
death365 wrote:Retirement at 65 coming up soon :(
20220413_152523.jpg

I said this already and I will say it again, do not make the STUPID mistake and expect the government to take care of you at retirement age, pretend there is no NIB invest in a private insurance. You never know what the future holds. When we at that age Kamla and Rowley done gone, is we to catch.

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DMan7
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Re: NIB Deficiting ON u

Postby DMan7 » April 13th, 2022, 6:41 pm

Wait nah who is the 3 people who voted that they'd love to be defecated on?

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zoom rader
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Re: NIB Deficiting ON u

Postby zoom rader » April 13th, 2022, 8:07 pm

death365 wrote:Retirement at 65 coming up soon :(
20220413_152523.jpg
This is facking bullshitt

65yrs?

This means that school leavers will have a harder time finding a job.

Trinidad take bull all vote for dat shitt

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88sins
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Re: NIB Deficiting ON u

Postby 88sins » April 13th, 2022, 8:29 pm

death365 wrote:Retirement at 65 coming up soon :(20220413_152523.jpg

This is so that people can continue to work and pay mandatory contributions
So by the time they retire at 65, and if they lucky enough to make it to 70 but cap out not long after, the NIB keeps the balance of their pension as a means of paying someone else.


Real ponzi scheme kinda operation

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agent007
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Re: NIB Deficiting ON u

Postby agent007 » April 13th, 2022, 8:30 pm

From an actuarial pov, I can understand one of the reasons for increasing the retirement age to 65 cause maybe less people will actually make it to that age and beyond. So more money in the pool for reinvestment and for payouts.

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DMan7
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Re: NIB Deficiting ON u

Postby DMan7 » April 13th, 2022, 8:56 pm

Why not make it 70 years and done?

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agent007
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Re: NIB Deficiting ON u

Postby agent007 » April 13th, 2022, 9:14 pm

Well look at this situation from another angle where house/property ownership is concerned. There are a growing number of persons between the ages of 35-40 who may now have access to a 25-30yr mortgage. Some people might still have a chance to meet the 40% TDSR to qualify for said mortgage facility.

So whilst some people can venture into a mortgage facility in their 20s, not everyone would have that opportunity. The late bloomers who can finally see their way at 40 can head to TTMF once the law is passed and get their hands on a non depreciating asset as opposed to renting or focusing on cars.

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De Dragon
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Re: NIB Deficiting ON u

Postby De Dragon » April 13th, 2022, 9:47 pm

So, rather than increasing the contributions while people are actually working and can afford it, the plan is to put it at an age
where you hope they won't cash it?

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zoom rader
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Re: NIB Deficiting ON u

Postby zoom rader » April 14th, 2022, 10:46 am

88sins wrote:
death365 wrote:Retirement at 65 coming up soon :(20220413_152523.jpg

This is so that people can continue to work and pay mandatory contributions
So by the time they retire at 65, and if they lucky enough to make it to 70 but cap out not long after, the NIB keeps the balance of their pension as a means of paying someone else.


Real ponzi scheme kinda operation
Yes and it stops young people from filling the gaps to new job openings .

Having 65yrs on a job blocks school leaves

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mero
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Re: NIB Deficiting ON u

Postby mero » April 14th, 2022, 11:04 am

Starting at 62-63 would've been better to me. That's a slap in the face to ppl who done looking forward to retirement in a couple years.

Work your way to 65

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shake d livin wake d dead
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Re: NIB Deficiting ON u

Postby shake d livin wake d dead » April 14th, 2022, 11:09 am

hover11 wrote:
Dizzy28 wrote:firetruck this sheit!!!

My two private pension plans have an option to take at 50 and that's where they will probably be used oui!!!


Work till 65 nothing !!!!
death365 wrote:Retirement at 65 coming up soon :(20220413_152523.jpg

I said this already and I will say it again, do not make the STUPID mistake and expect the government to take care of you at retirement age, pretend there is no NIB invest in a private insurance. You never know what the future holds. When we at that age Kamla and Rowley done gone, is we to catch.


How does one pretend there is no NIB when money coming out of your salary every month??? Imo, paying nis should be optional....you know what I could do if I save that money on my own. By the time I ready to retire the age might be 80....dem mc!!

How does one stop pay Nis?

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zoom rader
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Re: NIB Deficiting ON u

Postby zoom rader » April 14th, 2022, 11:34 am

mero wrote:Starting at 62-63 would've been better to me. That's a slap in the face to ppl who done looking forward to retirement in a couple years.

Work your way to 65
Yup should have been to 62.

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eliteauto
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Re: NIB Deficiting ON u

Postby eliteauto » April 14th, 2022, 11:42 am

shake d livin wake d dead wrote:
hover11 wrote:
Dizzy28 wrote:firetruck this sheit!!!

My two private pension plans have an option to take at 50 and that's where they will probably be used oui!!!


Work till 65 nothing !!!!
death365 wrote:Retirement at 65 coming up soon :(20220413_152523.jpg

I said this already and I will say it again, do not make the STUPID mistake and expect the government to take care of you at retirement age, pretend there is no NIB invest in a private insurance. You never know what the future holds. When we at that age Kamla and Rowley done gone, is we to catch.


How does one pretend there is no NIB when money coming out of your salary every month??? Imo, paying nis should be optional....you know what I could do if I save that money on my own. By the time I ready to retire the age might be 80....dem mc!!

How does one stop pay Nis?


Remember your contribution is a percentage of the total made on your behalf, so if it were optional only your bit would be yours to invest, doubtful your employer would hand it over unless it was a company retirement plan. The best thing is to take up your own personal plan, right now I look at my NIS contributions as a fall back not something I wanna depend on at 60 (65). I've already made enough contributions to qualify for a pension

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hover11
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Re: NIB Deficiting ON u

Postby hover11 » April 14th, 2022, 12:13 pm

shake d livin wake d dead wrote:
hover11 wrote:
Dizzy28 wrote:firetruck this sheit!!!

My two private pension plans have an option to take at 50 and that's where they will probably be used oui!!!


Work till 65 nothing !!!!
death365 wrote:Retirement at 65 coming up soon :(20220413_152523.jpg

I said this already and I will say it again, do not make the STUPID mistake and expect the government to take care of you at retirement age, pretend there is no NIB invest in a private insurance. You never know what the future holds. When we at that age Kamla and Rowley done gone, is we to catch.


How does one pretend there is no NIB when money coming out of your salary every month??? Imo, paying nis should be optional....you know what I could do if I save that money on my own. By the time I ready to retire the age might be 80....dem mc!!

How does one stop pay Nis?
If it's optional, then now self the system will crash and we will have a situation where the vulnerable in society will decide that they doh need no NIS and we end up with a bigger socio economic problem where everybody will be depending on the government

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Re: NIB Deficiting ON u

Postby Kenjo » April 14th, 2022, 12:23 pm

hover11 wrote:
shake d livin wake d dead wrote:
hover11 wrote:
Dizzy28 wrote:firetruck this sheit!!!

My two private pension plans have an option to take at 50 and that's where they will probably be used oui!!!


Work till 65 nothing !!!!
death365 wrote:Retirement at 65 coming up soon :(20220413_152523.jpg

I said this already and I will say it again, do not make the STUPID mistake and expect the government to take care of you at retirement age, pretend there is no NIB invest in a private insurance. You never know what the future holds. When we at that age Kamla and Rowley done gone, is we to catch.


How does one pretend there is no NIB when money coming out of your salary every month??? Imo, paying nis should be optional....you know what I could do if I save that money on my own. By the time I ready to retire the age might be 80....dem mc!!

How does one stop pay Nis?
If it's optional, then now self the system will crash and we will have a situation where the vulnerable in society will decide that they doh need no NIS and we end up with a bigger socio economic problem where everybody will be depending on the government

Shhhh

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hover11
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Re: NIB Deficiting ON u

Postby hover11 » April 14th, 2022, 12:49 pm

eliteauto wrote:
shake d livin wake d dead wrote:
hover11 wrote:
Dizzy28 wrote:firetruck this sheit!!!

My two private pension plans have an option to take at 50 and that's where they will probably be used oui!!!


Work till 65 nothing !!!!
death365 wrote:Retirement at 65 coming up soon :(20220413_152523.jpg

I said this already and I will say it again, do not make the STUPID mistake and expect the government to take care of you at retirement age, pretend there is no NIB invest in a private insurance. You never know what the future holds. When we at that age Kamla and Rowley done gone, is we to catch.


How does one pretend there is no NIB when money coming out of your salary every month??? Imo, paying nis should be optional....you know what I could do if I save that money on my own. By the time I ready to retire the age might be 80....dem mc!!

How does one stop pay Nis?


Remember your contribution is a percentage of the total made on your behalf, so if it were optional only your bit would be yours to invest, doubtful your employer would hand it over unless it was a company retirement plan. The best thing is to take up your own personal plan, right now I look at my NIS contributions as a fall back not something I wanna depend on at 60 (65). I've already made enough contributions to qualify for a pension
I have to agree here stop banking on the government to mind you in your old age. You young now , invest in your future . I basically have 2 annuities aside from NIS because I done seeing when this reach bail out proportions the ramifications and restructuring will be harsh.

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shake d livin wake d dead
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Re: NIB Deficiting ON u

Postby shake d livin wake d dead » April 14th, 2022, 1:09 pm

Yeahhhh I'm kinda like not wanting to have nothing to do with nis. That same $ could go into an extra annuity. I could save for my own pension.

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hover11
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Re: NIB Deficiting ON u

Postby hover11 » April 14th, 2022, 1:27 pm

We have to remember NIS isn't just retirement and that is why it will always be better than any private insurance as the range of benefits offered to what is put into the system will always be in favour. What private insurance offers a full monthly pension with basically only 15 years of work? Point me in that direction I would gladly invest

pugboy
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Re: NIB Deficiting ON u

Postby pugboy » April 14th, 2022, 1:51 pm

yes, anybody who thinking that nib will be waiting to support them when they retire could be in for a shock plus whatever inflation is coming up.

better to invest on your own on a continuous basis, be it separate annuity as well as dividend paying stocks along with whatever side hustle you can do on the side.

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Re: NIB Deficiting ON u

Postby pugboy » April 14th, 2022, 1:53 pm

or equivalent to $3500(nis) monthly and for what contributions ?

hover11 wrote:We have to remember NIS isn't just retirement and that is why it will always be better than any private insurance as the range of benefits offered to what is put into the system will always be in favour. What private insurance offers a full monthly pension with basically only 15 years of work? Point me in that direction I would gladly invest

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hover11
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Re: NIB Deficiting ON u

Postby hover11 » April 14th, 2022, 2:42 pm

pugboy wrote:or equivalent to $3500(nis) monthly and for what contributions ?

hover11 wrote:We have to remember NIS isn't just retirement and that is why it will always be better than any private insurance as the range of benefits offered to what is put into the system will always be in favour. What private insurance offers a full monthly pension with basically only 15 years of work? Point me in that direction I would gladly invest
It have a quick fix to this inno .....pay everybody what they deserve. It have ppl who getting that 3000 minimum monthly pension and when you see what they actually supposed to be getting is like 900 dollars a month but the government want to look good and say 750 contributions and you will get 3000 dollars a month. Not knowing is nib putting that extra so you could get that 3000 a month. The men who getting 4500 a month in pension me ain vex because they earn that.

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hover11
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Re: NIB Deficiting ON u

Postby hover11 » April 14th, 2022, 3:39 pm

Did u know that many NIB pension payments are subsidised but successive governments never paid the subsidy and as such, NIB had to carry this financial burden on its own. This is something yuh would never hear on a political platform or see in a newspapers :S

pugboy
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Re: NIB Deficiting ON u

Postby pugboy » April 14th, 2022, 3:46 pm

don’t forget it have many ppl getting both pensions in full

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hover11
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Re: NIB Deficiting ON u

Postby hover11 » April 14th, 2022, 5:44 pm

Yes man the governments raise the pensions to 1000 then 2000 then 3000 while plenty ppl did not qualify for these amounts and then blaming NIB for having no funds when is them who was supposed to help NIB pay these increased pensions. The money must finish when alyuh doing things for votes and not being financially sensible or studying the sustainability of the fund. There is a reason why govt cyar run business inno.

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De Dragon
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Re: NIB Deficiting ON u

Postby De Dragon » April 14th, 2022, 10:14 pm

NIB money when I retire will just be to support vices/hobbies/grandkids.
I already have other investment instruments as my main income source for that time.

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zoom rader
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Re: NIB Deficiting ON u

Postby zoom rader » April 14th, 2022, 10:16 pm

De Dragon wrote:NIB money when I retire will just be to support vices/hobbies/grandkids.
I already have other investment instruments as my main income source for that time.
Dat is not the red government way

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