Work 'til you drop kids...

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For years we had the oldest retirement age in Europe, longest working hours and least holidays.
Europe have changed theirs but so have we. Surely there should be a consideration for people who have worked for 40 years or more to be able to have some quality time to enjoy.
Perhaps naive by me but my thoughts anyway.
 


becs said:
It was slightly earlier for the birth years but I'm not sure which ones. My Mam was born in 1950 and had to work until she was 62 for state pension.
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Ok. I was just going on friends /people i know. I thought my sister in law retired at 60 , she was born in 1951. But your mam is an example of the taper in place anyway.
 
darius said:
Surely there should be a consideration for people who have worked for 40 years or more to be able to have some quality time to enjoy.
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That's what's been playing on my mind. Dad worked all of his life until he was 67 and they planned to travel more in retirement. Then he had his stroke at 68 which left him paralysed so all their travel plans have gone out the window. I really feel for him and my Mam and it's made me more determined to grab as many chances in life while I'm still young and in decent health.
 
Mackem00 said:
I'd retire tomorrow if I could maintain a similar standard of living to what I have now. It be f***ing mint.
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This

10 Gary Rowells said:
A couple of years ago I heard a stat which said that 50% of the kids born in the UK would live to 100 - surely the pension age has to go up with the average death age. Kids these days will grow up realising they have to make a few sacrifices to retire.
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1 in 4, bet it doesn't happen though.

mods on the edit again.
 
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zwartekat said:
Depends on your interests, I suppose. I should add that I'm quite jealous of people who get a lot of satisfaction from work. I sometimes really enjoy my work but must admit a lot of the time I can think of things I'd rather be doing.
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I enjoy work ,enjoy working with the lads .Also it's a family run business so that gives even more satisfaction not having to answer to someone in an office who just looks at the figures nowt else

Mackem00 said:
I'd retire tomorrow if I could maintain a similar standard of living to what I have now. It be f***ing mint.
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I wouldn't ,but my job is probably a lot different to yours
 
becs said:
That's what's been playing on my mind. Dad worked all of his life until he was 67 and they planned to travel more in retirement. Then he had his stroke at 68 which left him paralysed so all their travel plans have gone out the window. I really feel for him and my Mam and it's made me more determined to grab as many chances in life while I'm still young and in decent health.
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I'll health is the big thing. Yes we are living longer but in what condition? Are we able enough to enjoy retirement.
I'm still young ish and retired, Planning and luck or both. I think we should have moved men to retire at 60 as well. If they had raised nat ins to improve nhs and introduce a more flexible pension people would moan but would get on with it.
Plus with lots more young people staying in education into their twenties don't start saving for their futures or paying into the system.
 
Mackem00 said:
It probably is mate. I can't think of a job in the world that I'd happily do over doing what I want all the time mind.

I get on with pretty much everyone I work with n'arl.
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My job is fine, really easy and stuff. Not as fine & easy as doing whatever I want all day every day though.
 
TheWanderer said:
That's my plan and I do have a plan in place, it involves being made redundant over the next two years and that's likely, so it's looking like about 90% chance that at 55 I'll be sitting in wetherspoons with the piss heads.

Hope to be mortgage free and an income off £22,000 a year if it works out right, not sure if that will be enough to live on in 15 years though?
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Could you live on £22'000 now minus mortgages?
 
darius said:
For years we had the oldest retirement age in Europe, longest working hours and least holidays.
Europe have changed theirs but so have we. Surely there should be a consideration for people who have worked for 40 years or more to be able to have some quality time to enjoy.
Perhaps naive by me but my thoughts anyway.
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The problem is funding it; I have over 40 years of work, and did at age 56 (most of my generation left school at 16 and started work) the average life expectancy for a man of my age is 82 and my state pension age is 66, therefore (on average) I will pay in for 50 years but take out for 16 years. This is not affordable for future generations and so the government have to do something to reform that over the long term.

I do fear for future generations; student debt, high price of property, lack of job security, reduced pension provision etc. the baby boomers really have had the most opportunities of any generation and have very definitely left a less rosy landscape for their kids and grandkids.
 
Kennington Kid said:
The problem is funding it; I have over 40 years of work, and did at age 56 (most of my generation left school at 16 and started work) the average life expectancy for a man of my age is 82 and my state pension age is 66, therefore (on average) I will pay in for 50 years but take out for 16 years. This is not affordable for future generations and so the government have to do something to reform that over the long term.

I do fear for future generations; student debt, high price of property, lack of job security, reduced pension provision etc. the baby boomers really have had the most opportunities of any generation and have very definitely left a less rosy landscape for their kids and grandkids.
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I agree with most of this however there is no blame for people who have paid for the pension they get. We, they paid into and paid for the pensions and property at the price at the time.
It wasn't easy and they will have had hardships with high interest rates, industry closing and high property prices.
We do live longer but is it living or surviving?
Deposits for homes and retirement planning for the young need to be addressed. I personally think reducing the quality retirement years is not the way to go but I don't have the answer
 
Frijj said:
Only because of repayments for things. My contract expires in Sept and with no guarantee of anything new I'm trying to pay about £400 a month towards overdrafts and credit cards :lol:

If I wasn't paying that I'd be eating lobster and bathing in Champagne

Anyways my point was some people can't afford any pension contributions at all
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With 400 quid best make it fish fingers and farting in the bath for your bubbles:lol:
 
darius said:
I agree with most of this however there is no blame for people who have paid for the pension they get. We, they paid into and paid for the pensions and property at the price at the time.
It wasn't easy and they will have had hardships with high interest rates, industry closing and high property prices.
We do live longer but is it living or surviving?
Deposits for homes and retirement planning for the young need to be addressed. I personally think reducing the quality retirement years is not the way to go but I don't have the answer
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The trouble with the State scheme is that current pensions are paid for from current taxes, I am paying for current pensioners and the young will pay mine. In the future their will not be enough revenue to pay the commitments made and that is why it needs to be reformed. The answer really is more private provision so that the quality of retirement is not dependant on only the state pension, but I think it is acknowledged that many of the young really will struggle to build up a pot large enough unless they start early enough.
 
If you have made sufficient provision you can go as early as you want from age 55, no need to wait until SPA.
 
Kennington Kid said:
The trouble with the State scheme is that current pensions are paid for from current taxes, I am paying for current pensioners and the young will pay mine. In the future their will not be enough revenue to pay the commitments made and that is why it needs to be reformed. The answer really is more private provision so that the quality of retirement is not dependant on only the state pension, but I think it is acknowledged that many of the young really will struggle to build up a pot large enough unless they start early enough.
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Spot on. But personally I don't think reform should be moving the age higher. Living longer yes but with what capacity?
 
Started my work pension at 24, I'm 31 now. I knew I'd need to take it out as there was no way the state pension would be 65 or whatever it was in 2010. I also know that my final salary pension will most likely be changed at some point over the next 30 years too, but getting it started as soon as I got a career job was the best thing I could do. Means I'll have 30 years built up when I'm 55 which should be a nice pot, but I'd like to keep going until I'm 60 then take it out and put it into property so I have a bigger monthly income than I would have had otherwise. It all seems so far away so I am fully expecting everything to change over the next 30 or so years anyway.
 
10 Gary Rowells said:
A couple of years ago I heard a stat which said that 50% of the kids born in the UK would live to 100 - surely the pension age has to go up with the average death age. Kids these days will grow up realising they have to make a few sacrifices to retire.
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Got to be a load of shite those stats man, at least 80% of young people are morbidly obese, unless they change their ways, they'll be lucky to see 55, stats made up to lengthen the retirement age.
 
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