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18 Aug 19, 02:48 PM |
#51
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Thread Starter
Imagineer
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18 Aug 19, 02:49 PM |
#52
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Imagineer
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Exactly this, retirement is now more like 30 years instead of 10 and the numbers just don’t stack up.
People really need to focus on their private provision, I’m in my early forties and I have no expectation of a state pension, anything I get will be a bonus. I should probably grab my tin hat right now but I don’t think anyone on this site can moan about having to work in to their 70s if they’ve prioritised Florida holidays over their pension provision. |
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18 Aug 19, 02:53 PM |
#53
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VIP Dibber
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I was born in 67 so at present i can claim my pension , at 67.
I started work at 16 so according to my forecast i have already paid enough contributions for a full pension. However i will still have to pay contributions for the next 15 year but with no further benefit to myself. If this raised to 70-72 , what happens to all those extra payments? i presume they are to pay for pensions for people who have never worked due to disability etc?. which is fine as everyone needs to be taken care of , but at what age will it stop rising. |
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18 Aug 19, 03:02 PM |
#54
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Imagineer
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18 Aug 19, 03:13 PM |
#55
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Imagineer
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The problem is not everybody is educated and lots of people work in minimum wage jobs and just manage to live. They can't afford to pay lots extra into pension pots that will allow them to retire early.
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Jenny July/August 2010 ~ Villa, Mission Park & RPR, July/August 2012 ~ DIBB Villa, Highgate Park & RPR, July/August 2014 ~ Sadly had to cancel, August 2019 ~ POR 1st time on site New York 2017, trip report HERE |
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18 Aug 19, 03:21 PM |
#56
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Imagineer
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I'm 33 and when I have to enter my retirement age on my work pension portal I usually put 70. Probably optimistic.
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18 Aug 19, 03:22 PM |
#57
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Imagineer
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Agreed, and those who work in minimum wage jobs, for whatever reason, should have state pension provision - the state should provide for those who cannot. But that will apply to very few people on this forum, given its focus. For the rest of us, we should be fiscally responsible enough to plan our futures.
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18 Aug 19, 03:41 PM |
#58
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Thread Starter
Imagineer
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Lots of people will be working in minimum wage jobs on the run down to retirement though - it will be too hard to do otherwise for those of us who are not in tip-top health.
I am - part time and minimum wage after semi-retiring at 55 with a civil service pension from my previous career. |
18 Aug 19, 04:01 PM |
#59
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VIP Dibber
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Where can we find out if we are affected, i expect i will be as born in 66.
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18 Aug 19, 04:06 PM |
#60
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Imagineer
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