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18 Aug 19, 02:08 PM |
#41
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Guest
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It's not IDS saying this in his role as a backbencher it is in his role as chair of an influential social justice think tank. So consideration would need to be given to thier recommendations I suspect.
That does not of course mean the government needs to adopt the recommendations in part or in full. For all we know the govt may want to put it up to 80! Edited at 02:09 PM. |
18 Aug 19, 02:09 PM |
#42
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Imagineer
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Unfortunately the job I do doesn't have less strenuous roles 😢 and with my hands being the worst affected I wonder what jobs I could do ☹
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18 Aug 19, 02:10 PM |
#43
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Imagineer
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I think youngsters today need to work out their own retirement date - none of us should be at the mercy of govt decisions about retirement... I look at the state pension as a bonus, not as a financial plan and I think that this will be even more important for the younger generation as there may not even be a state pension.
Save and invest for your own future to your own preferred timetable... |
18 Aug 19, 02:12 PM |
#44
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Guest
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18 Aug 19, 02:13 PM |
#45
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Guest
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I read a couple of months ago that four hundred billion pounds of NI contributions had been misappropriated by successive governments. If there is any truth in that then people should be called to account.
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18 Aug 19, 02:16 PM |
#46
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Excited about Disney
Join Date: Apr 16
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I'm 40 and unfortunately I don't think there will be a state pension but the time my generation retires. Hence the legal requirement for all private companies to have pension pots for all employees.
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18 Aug 19, 02:17 PM |
#47
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Imagineer
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18 Aug 19, 02:23 PM |
#48
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Imagineer
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18 Aug 19, 02:34 PM |
#49
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Imagineer
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I suppose the issue really is that when State Pension was introduced it really was just another form of taxation - this hasn't changed. The NI contributions paid by workers today fund the pensioners of today - it isn't a pension pot, there is no pot of money sitting in government pay pensions.
The age was decided BECAUSE a majority of the population wouldn't make it to those ages, but now that has changed and we are all living longer and are generally healthier longer. Much as I am peeved about my state retirement age being raised to 67 and probably much older in the coming years, I know its not going to change so we all need to be looking at our private pension schemes and look to pay as much as possible to ensure we can retire when we wish. Of course we also now have the opportunity to draw the funds from our pensions after 55 so we *could* invest them elsewhere to enable us to retire earlier than the statutory age. DH and I have already had a reduction in our previous employers pension when the recession hit and many companies changed our retirement age and how much would be paid out so this too will affect our planned retirement, so we have sought advice and have come up with an alternative plan. Sadly the fact is (no matter who is in government) there just isn't enough money to do all things that society has come to (or wants to) expect. Things need to change. I am however pleased that the retirement age for all is now the same, this seems fair to me.
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18 Aug 19, 02:35 PM |
#50
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Imagineer
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That’s my point, I don’t think that we should be in work until 75 - I am doing everything possible to ensure that I stop work 20 years before that, and IMHO we should all be trying to do this by NOT being reliant in govt dictated pension age.
Automation and older people failing to take responsibility for their own financial future are the biggest threat to younger people finding employment ... |
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