New state pension age .
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Discussion

colonel c

Original Poster:

8,054 posts

269 months

Thursday 24th June 2010
quotequote all
So who's looking forward to working an extra year (or more)

UKPA said:
The Government has sparked anger from unions and pensioner groups after unveiling controversial plans to extend the pension age, with the possibility of people having to work until they are 70 before receiving the benefit.

Ministers were accused of making people "work until they drop" as well as attacking the poorest members of society.

Work and Pensions Secretary Iain Duncan Smith said: "We need to recognise that to meet the challenge of providing an affordable, stable pensions system in a society with ever increasing life expectancy, people will need to work longer."

The Government put forward plans to scrap the default retirement age which allows employers to get rid of staff when they reach the age of 65.

The state pension age for men is set to rise from 65 to 66 from 2016 - nearly a decade earlier than the last government was planning, while ministers also raised the possibility of extending the pension age to 70 and even older in the following decades to "reinvigorate retirement".

Unions reacted with fury, accusing the Government of showing its "class bias" just weeks after gaining power.

Paul Kenny, general secretary of the GMB, said: "To force someone who has done a lifetime of toil on building sites, farms or in factories to work until they are 66 is completely unacceptable."

Brendan Barber, general secretary of the TUC, said: "Raising the state pension age will hit the less well-off far more than the rich. Sixty-five-year-old men in Kensington and Chelsea can expect to live a further 23 years, while those in Glasgow only 14 years.

"A majority of 64-year-old men are already out of the labour market. Raising the state pension age will not help any of them stay in work. It will simply turn a generation of 65-year-olds from pensioners into the unemployed."

Tony Woodley, joint leader of Unite, said: "Ordinary workers are going to have to stay at their jobs longer, and have their retirement plans put on hold, to help pay for the bailing-out of the bankers and the financial crisis made in the City."

anonymous-user

84 months

Thursday 24th June 2010
quotequote all
Im 31 and more worried about getting a foot on the property ladder and finding a good job that I enjoy and pays well! the fact I may have to wait one extra year to get my state pension does not bother me in the slightest!

grumbledoak

32,571 posts

263 months

Thursday 24th June 2010
quotequote all
Tony Woodley joint leader of Unite said:
"Ordinary workers are going to have to stay at their jobs longer, and have their retirement plans put on hold, to help pay for the bailing-out of the bankers and the financial crisis made in the City."
What a complete . The Unions have always maintained their power through the promise of not working for a living, and that will always work for some, but this endless spin about the banks is beyond ridiculous. The country's financial mess is thoroughly down the the Unions themselves, and their one-eyed Chancellor. The banks 'bailout' is a misrepresentation at best, and it is looking to cost out pretty well. You cannot say the same for just about every decision Gordon made.

Parrot of Doom

23,075 posts

264 months

Thursday 24th June 2010
quotequote all
Dozy whinging tts. My father never even thought he'd live to see his pension.

People are living longer than they were before. Thus, they have to work for longer. Simple.

JR Hartley

1,308 posts

230 months

Thursday 24th June 2010
quotequote all
Is the pension age for women going up aswell?

grumbledoak

32,571 posts

263 months

Thursday 24th June 2010
quotequote all
JR Hartley said:
Is the pension age for women going up aswell?
Yes. It will rise by six years to match that of men. I cannot remember off-hand when this will happen.

john_p

7,073 posts

280 months

Thursday 24th June 2010
quotequote all
MonkeyMatt said:
Im 31 and more worried about getting a foot on the property ladder and finding a good job that I enjoy and pays well! the fact I may have to wait one extra year to get my state pension does not bother me in the slightest!
Exactly

We live longer and more healthily than ever before. Why shouldn't we work longer?

Golf clubs will survive wink

5unny

4,395 posts

212 months

Thursday 24th June 2010
quotequote all
Life expectancy has risen dramatically in the UK over the past few decades so I think it's a good idea.

JR Hartley

1,308 posts

230 months

Thursday 24th June 2010
quotequote all
grumbledoak said:
JR Hartley said:
Is the pension age for women going up aswell?
Yes. It will rise by six years to match that of men. I cannot remember off-hand when this will happen.
Seriously?

grumbledoak

32,571 posts

263 months

Thursday 24th June 2010
quotequote all
JR Hartley said:
Seriously?
'twas on the lunchtime news. Cannot be law yet, and I cannot remember when they proposed this to be the case. Five to ten years, but I wasn't really paying attention.

condor

8,837 posts

278 months

Friday 25th June 2010
quotequote all
I'm 50 now and semi-retired, but I won't receive a state pension till I'm 65.5 ...that could of gone up since last year.
My private pension kicks in at 60 , so not too bothered smile

Matt Black

420 posts

200 months

Friday 25th June 2010
quotequote all
condor said:
I'm 50 now and semi-retired, but I won't receive a state pension till I'm 65.5 ...that could of gone up since last year.
My private pension kicks in at 60 , so not too bothered smile
By the time I retire it'll be 125ish lol wink

Mojocvh

16,837 posts

292 months

Friday 25th June 2010
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I'm 49, retired once, I have to work and now they say I can carry on for ever...brill!!

condor

8,837 posts

278 months

Friday 25th June 2010
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Since I've had 6 months of not working, playing golf, shooting and weeks away on holidays....I massively like not working smile
I have to do something soon though to have an income stream....new business starts next month smile

Tiggsy

10,261 posts

282 months

Friday 25th June 2010
quotequote all
its sad that so many people in the UK regard state pension age as being when they can stop work.....save/plan for yourself, dont rely on the benefits system for your income in old age.

i couldn't care less when state pension is for me...in fact, I'd do away with it for better off pensioners.

Mark-C

7,675 posts

235 months

Friday 25th June 2010
quotequote all
I'm with Tiggsy ... I'm self employed and making my own pension provision ... I'll retire when I want to retire. It may be at 55 because I'm bored but may be at 70 because I'm still enjoying work.

I think it will be the latter. Not only are we living longer but we're living well when we get there. My dad (state pension) was gutted to have to retire - he felt great at 65 whereas his dad's generation were effectively expected to be knackered by then.

Vipers

33,514 posts

258 months

Friday 25th June 2010
quotequote all
Personally, retirement is next December. Looking forward to doing what I want, when I want, and decide what to do with my days, instead of living in ground hog day........daily comute, traffic....




smile

Vipers

33,514 posts

258 months

Friday 25th June 2010
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[redacted]

JagLover

46,800 posts

265 months

Friday 25th June 2010
quotequote all
Retirement ages have to adjust to demographic realities.

This is just simple common sense and in many ways the budgetary crises is an excuse to implement measures that should have been brought in long ago.


sinizter

3,348 posts

216 months

Friday 25th June 2010
quotequote all
As long as they dont fk with the age that I can get my pension that I pay into, it does not matter too much - but even that is too much to hope for.