Work 'til you drop kids...

[WHD]

Fuck that. No chance I'm working over 65, ideally be done at 60.

Aren't you the one with debt problems? How are you going to retire at 60? (serious question)

 

[AndrewP]

http://www.bbc.co.uk/news/business-39352654

An analysis for the Department for Work and Pensions (DWP) has suggested that workers under the age of 30 may not get a pension until the age of 70.

A second report, by John Cridland, proposes that those under the age of 45 may have to work a year longer, to 68.

Us "oldies" are pulling the drawbridge up behind us. Soz.

It's hardly a stretch, people in the 40s/50s now already have to wait until they're 68 to get their state pension.

 

[Paddy O'Dors]

Excellent news.

Am I fuck ever paying into a pension.

If you're paying NI then you already are.

 

[What A Waster]

Mwaahaahahaa!

Probably be living at home til they're 40 the way the market is going.
Could rent their grandparents house to them instead like

 

[Mackem00]

I'd like to be fully retired by my 60th all going well. Will have to take a big hit on half my pension to do so mind but what can you do?

 

[AndrewP]

Fuck that. No chance I'm working over 65, ideally be done at 60.

Well done on planning so well for an early retirement.

 

[John Steed]

I'm resigned to having to work for longer than my parents did. Combined with house prices, tuition fees and graduate jobs it really does feel at times as though the preceding generation has pulled the ladder up behind them.

I think I've read somewhere that my generation will be the first to have less wealth than their parents.

It's the current generation that has fucked it up though. Young bankers and financiers in 2008 fucked the lot of us.

 

[AndrewP]

Probably be living at home til they're 40 the way the market is going.
Could rent their grandparents house to them instead like

I work with a canny few saddos still living with their parents in their late 30s/40s.

 

[shogun1904]

Has the ability to work though?

Can just imagine doing my current job when I am 70. I am 32 now and struggle already.

It's the current generation that has fucked it up though. Young bankers and financiers in 2008 fucked the lot of us.

The problems run deeper than that like.

 

[Discopants91]

If you're paying NI then you already are.

No choice there.

So you don't have to work until you're 70 I'd have thought.
Either that or make your own provision in property or whatever

Have to be a certain age to claim it don't you?

Rather just have savings, not banking on making 70 anyway.

 

[shogun1904]

Well done on planning so well for an early retirement.

 

[Pop]

It's realistic, life expectancy has gone up.

It is realistic but it's not very fair when up until recently women were able to receive their state pension at 60. People in their 30's now aren't going to get theirs till they are 70.

The main culprits of the speedy rise are the governments of the 80's/90's/00's for ignoring the issue.

 

[shogun1904]

Excellent news.

Am I fuck ever paying into a pension.

I reckon we would be better off using our lasses £400 odd to overpay on the mortgage but she disagrees. It looked brilliant when she signed upto it but seems worthless now.

 

[ivanthereasonable]

Is the objective of raising the age of retirement to get more people to save/invest for their retirement ? Plus the added bonus to the pension fund, that a lot more people will die before even drawing a pension.
The increasing numbers of people physically or mentally unable to do their jobs will end up on what income ? Unemployment benefit, some sort of supplementary benefit ?

 

[Pop]

Is the objective of raising the age of retirement to get more people to save/invest for their retirement ? Plus the added bonus to the pension fund, that a lot more people will die before even drawing a pension.
The increasing numbers of people physically or mentally unable to do their jobs will end up on what income ? Unemployment benefit, some sort of supplementary benefit ?

Yes and no, even with auto enrolment the amount low earners will amass over 50 years won't be anywhere near enough to sustain themselves for long so they would still be massively reliant on the state in retirement.

 

[What A Waster]

I work with a canny few saddos still living with their parents in their late 30s/40s.

How do they even bring a bird back home? If the chance ever presented itself that is. Imagine listening to your 40 year old son grunting away next door with some old wife he's brought back from down the club

 

[shogun1904]

Yes and no, even with auto enrolment the amount low earners will amass over 50 years won't be anywhere near enough to sustain themselves for long so they would still be massively reliant on the state in retirement.

Contributions are going up though incrementally. I imagine they will just keep creeping up so they can phase out the state pension. Or a meringue?

 

[AndrewP]

How do they even bring a bird back home? If the chance ever presented itself that is. Imagine listening to your 40 year old son grunting away next door with some old wife he's brought back from down the club

Sorry but.

In a cage I'd imagine.

 

[Pop]

Contributions are going up though incrementally. I imagine they will just keep creeping up so they can phase out the state pension. Or a meringue?

5% of not a lot isn't a lot.

 

[John Steed]

Can just imagine doing my current job when I am 70. I am 32 now and struggle already.


The problems run deeper than that like.

That was the root cause of it though.
The country doesn't collect enough tax and we all know who the tax dodging culprits are. The elderly and those at the bottom of the pile are hit though instead of the big boys. You then get the likes of bagpuss doing the government's work by creating dislike and hatred of pensioners. Why, because they are 20 quid better off than they would have been but for the triple lock.