Abi Foster

speaker

579 appearances 2 recordings 1 series first heard Jul 2026 last heard 2 Aug

Abi Foster’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 2 in all, peaking in Aug 2026 with 1.

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The Curve · 50k guaranteed or flip for a million? (The answer says a lot about you). · 2 Aug 2026 podcast

But what happens is it means that state pension actually rises quite quickly every year.

And the state pension is a colossal amount of money that the government has to find every year to pay out because we have an aging older population.

We have a growing population over the threshold, which is 66 and rising for the state pension.

And they're all on this.

If they hit the threshold, which is basically that you have to have worked for 35 years, which most people have, you are entitled to the full state pension.

And you can take this whether you're a millionaire or completely broke.

And so the government have to spend this money out.

And it means that every year it rises and rises and rises.

And the government basically just can't afford it.

And I assume basically what Olivia is asking me is like, can you talk about it?

So we've talked about it, what it is.

But can you explain the impact it has on the economy?

My personal opinion is it can be really damaging to the economy.

I think it needs to be means tested, i.e.

it cannot just be handed to every individual.

person once they hit retirement age I think there should be a means test to it because it's it's too much money for the government to find we we've got lower birth rates which means we've got lower amounts of people paying into the tax system and therefore if we've got a like a bigger chunk that's having to go out to pay for the state pension which is a benefit then we've got a discrepancy here and we've got gaps so everyone has this misconception that the state pension they paid into their national insurance and the money's there that's not how it works it pays out the taxes of today and

And back when the state pension was introduced, which was just after the World War, so like, I don't know, the 1940s?

Sorry, my history is terrible.

But they introduced the state pension basically because there was lots of men that came out from the war, couldn't get jobs, and they were near retirement anyway.

And so the state pension was there to kind of bridge that gap for like two or three years.

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