State pension age rise brought forward
 

http://www.bbc.co.uk/news/uk-politics-25225532

Sensible and inevitable. Those of us in their 20s should be clear that our state pension won't come, at least, until we're 70. For all the focus on benefits they're a small expensive relative to the amount spent on pensions.

Re: State pension age rise brought forward
 

you are one of the very few people that actually see the reality of the state pension problem :tu:

Re: State pension age rise brought forward
 

I'm one of the first who had their retirement ages extended and I've known about it for 20 years..

Re: State pension age rise brought forward
 

I've already been informed mine has gone up to 66.

Re: State pension age rise brought forward
 

[Get us older ones to retire at 65 and let the youngsters have a job.] This has become a dream. I feel like I am actually living in an episode of the twilight zone (TV series).

What a country this has and is becoming.

Re: State pension age rise brought forward
 

Whilst I can see the problem, and inevitability that the pension age needs to reflect average life expectancy changes, and thus ability to fund, increasing the age of entitlement isn't necessarily the answer. Many people do more sedentary work, and so can perhaps work till they are a bit older. If your work is more active your body naturally weakens and physically you may be less able. If you can't get a pension, will you be able to get other support if you aren't able to work at your trained skill? Few employers will justify retraining someone in their 60s.

Re: State pension age rise brought forward
 

Administrator, teacher, call centre worker at 70? No problem.

Labourer, truck/train driver at 70? Too many sick days perhaps?

Re: State pension age rise brought forward
 

What is that different from being 65?

Any talk of retiring @ 70 is still only something that may or may not, happen a long way in the future, ie 40 years from now.

Re: State pension age rise brought forward
 

Since 1960, the average life expectancy of a UK resident has increased by 10 years - this is probably one of the main reasons for increasing the state pension age.

Re: State pension age rise brought forward
 

The Government probably needs to find a way to incentivise saving for private pensions more. They're doing that Workplace pension scheme which is a good idea albeit the contributions forced are very low and therefore not enough on their own. Not sure what could be done other than existing tax relief on contributions? Maybe you get NI back too and then those contributions are not taken out when you receive the pension in the way the tax is taken back.

Re: State pension age rise brought forward
 

Insentivising a private pension isn't the problem ,wage levels are the problem .People on minimum wage will find it impossible to pay for a private pension that will keep them in retirement and since the number of people on or very near minimum wage is increasing then despite the govs plans to shuffle retirement age about we will still have a very large portion of the work force claiming benefits to top up a pension

Re: State pension age rise brought forward
 

You may, or may not, be entering that part of your life when we seem to fall apart at a faster and faster rate. 5 years is a long time for a failing body and mind. We may be living longer, helped no doubt by better medicine and nourishment, but are we still as fit?

Re: State pension age rise brought forward
 

That's the thing isn't it ,living longer does not mean a person may be able to work longer

Re: State pension age rise brought forward
 

Was always going to happen.

Save your $$ in a pillow case :)

Re: State pension age rise brought forward
 

was bound to happen

by way of example the firemen want to retire at 55 on a pension of 19,000
which i understand is not acceptable to them


a fit bloke could live another 30 years with no real problems so that's £570,000
that has to come from somewhere and that's not including any inflationary factors

Re: State pension age rise brought forward
 

It amazes me how the politicians and media portray the subject of... the population is living longer... as though it was some kind of disease or a taboo.


lets applaud living longer, so long as we have all are marbles and ability of movement.

Re: State pension age rise brought forward
 

And therein lies the problem ,many won't be fit and active they will just live longer

Re: State pension age rise brought forward
 

And therein lies the rub.... unfit to work due to age-related problems, but declared fit for to work by ATOS or whatever.

Re: State pension age rise brought forward
 

People working longer, youth unemployment rises

Re: State pension age rise brought forward
 

In a lot of cases all they will be doing is swapping a state pension for disability benefits ,an aging population doesn't just affect pensions it will also affect the length of time people remain on benefits

Re: State pension age rise brought forward
 

https://www.gov.uk/calculate-state-pension/y

I used this calculator a short while back and it said I had to wait until I was 68, but now...

Re: State pension age rise brought forward
 

I am furious at this. I am 62 in two weeks time. I have been told that l cannot retire until l am 68, yet my work contract is up at 65. Yes l can work on for a further year due to the age and equality age. But l cannot keep on working to save this pocksy government money.

All this is, is to save them paying out money. I believe that when you feel your body has had enough and have to rest, then you decide. But you cannot, the measly pension they give you, you have no choice but continue to work.

It annoys me that they can look after other countries with massive aid, but cannot look after their own people when they have paid millions into the economy during the working life.

Re: State pension age rise brought forward
 

Where are the extra jobs coming from?

So the aged and infirm work on till they drop and the young and fit take it easy on job seekers?

I don't get it.

Re: State pension age rise brought forward
 

Try using the calculator in my post, I'm 57 and get to "retire" at 66.

Re: State pension age rise brought forward
 

You might win the lottery, Arthur. and your worrying will have been about nothing.

Re: State pension age rise brought forward
 

Using that calculator, I'm 60 & it tells me my pension age is 65.

Who-ever told Arthur he has to wait until he is 68 obviously knows which buttons to push to get him ranting ....

Re: State pension age rise brought forward
 

Two small points.

A) At your age, your state pension will arrive when you are 65.

B) It is illegal to discriminate on age - you cannot be made to retire (re your contract) due to you turning 65.

A third point - if you have paid millions into the economy (let's say 2 million, as you used the plural), and we split that between VAT and tax/NI, this would mean you had spent over £5.7 million on vatable goods (at an average of 17.5%),or nearly £100,000 per year for every year of your life, and on the tax/NI front, if you have been working for 45 years, that means you have been paying £22,000 per year in tax/NI, which means you must have been earning, on average, around £80,000 per year.

I would have thought you could have put some of that into a pension.....;)

Re: State pension age rise brought forward
 

there might be more jobs in the caring for the aged business?

Re: State pension age rise brought forward
 

It does need to be considered where these jobs will come from. It needs to be made clear that while the state pension will come at 69/70 it doesn't mean you'll be able to work until then even if you want too and your health permits it. Again more of an argument for getting serious about increasing the amount of people who have private pensions or start increasing tax income designed to support the future pension time bomb.

Re: State pension age rise brought forward
 

I get a pension of £60 per month now which l pay £12 tax. As far as l am aware my retirement has increased to start at 66.

Re: State pension age rise brought forward
 

you said 68

Re: State pension age rise brought forward
 

I was told 66 then l was told 68. To be honest with you, l don't know who to believe.

Re: State pension age rise brought forward
 

If you are 62, your state pension will be paid to you when you are 65.

Who told you 66, then 68?

Re: State pension age rise brought forward
 

Someones telling you fibs Arthur I`m 60 now and i get my pension at 65

Re: State pension age rise brought forward
 

You need to visit https://www.gov.uk/browse/working/state-pension

Re: State pension age rise brought forward
 

Arthur you should have been notified by the Dept of Work and Pensions by now.

I retire at 66... cant wait.