Rise in pension age to 75

[Neeranam]

https://www.express.co.uk/news/uk/1167028/raise-pension-age-75-says-think-tank

 

This sucks. Well maybe it doesn't if we live longer.

[Denim]

What the hell......make it a round 100.

 

Imagine the money they could save !

[Kinnock]

It seems to moving up at a rate that ensures I'll never reach it.

 

It's a good job its value in THB is now so small that it only represents an extra pot of Mama Noodles per week.

[timendres]

2 minutes ago, Kinnock said:

It seems to moving up at a rate that ensures I'll never reach it.

 

It's a good job its value in THB is now so small that it only represents an extra pot of Mama Noodles per week.

If they implement it like the US does, they scale the change so it does not affect those closer to retirement as much as those who are far away, which allows people to plan for the change.

[DannyCarlton]

28 minutes ago, timendres said:

If they implement it like the US does, they scale the change so it does not affect those closer to retirement as much as those who are far away, which allows people to plan for the change.

Yes the same happened in the UK. It's of little consolation though when you are actually working those extra years.

[baansgr]

And the person making the recommendation gets to retire at 55 on a Gold plated 60ths DB scheme....

[LiMax]

Even if the person looks ok and feels ok at 75 i can believe they can think as quick as it is necessary at some jobs. I don't want to be driven by a 75-years-old driver. Or be operated by old surgeon. And it not because i dont have respect to these people, it is just my instinct of self-preservation. 

[cmarshall]

Especially cruel to those who do physical, a group whose lifespan has not been extended very much in past decades, unlike us office workers.  It just cuts their lifetime pension benefits drastically.  Nevertheless, just what one would expect from the Tories.

[ben2talk]

3 hours ago, cmarshall said:

Especially cruel to those who do physical, a group whose lifespan has not been extended very much in past decades, unlike us office workers. It just cuts their lifetime pension benefits drastically. Nevertheless, just what one would expect from the Tories.

They should bring in a euthanasia policy for unemployed old people - killing off the coal industry and stopping old people using heating obviously didn't reduce the load enough.

 

Obviously it'd work better if they just set the upper age limit - say cut off at 70, but you can retire when you're 62. Not many 70 years old are of use to the Tories unless they are already Tories with mountains of investments.

 

 

[Pilotman]

21 hours ago, LiMax said:

Even if the person looks ok and feels ok at 75 i can believe they can think as quick as it is necessary at some jobs. I don't want to be driven by a 75-years-old driver. Or be operated by old surgeon. And it not because i dont have respect to these people, it is just my instinct of self-preservation. 

wait until you get there, if you are lucky enough to do so, you may well change your mind. Energy levels may decrease with older age, as does some physical endurance, but the mind is as able as ever it was. My eyesight is still 20/20 without glasses for distance or reading, my hearing is as good as it ever was, my heart is strong, I do not take any medication and I am 71. I would fly with me rather than a youngster of lesser experience and capability, same with driving.    

[cooked]

I applied for my Swiss state pension early, when I was 63, meaning I lost 13.6% monthly. I could have waited until I was 70. thereby increasing the pension by up to 30.1%, bearing in mind that you would still be paying into your pension fund during this time.

Most Swiss go for an early state pension even though many do continue working as I did. 

[from the home of CC]

must of been big mismanagement of the funds at the top, your tax dollars hard at work... 

[mommysboy]

It was a Tory think tank report.  Department of Work and Pensions appears to have distanced itself pointing out this is not government policy and that changes were made in 2017.  It is worrying when things like this come out.

 

I agree, what jobs are there for 75 year olds exactly!

[brokenbone]

8 hours ago, from the home of CC said:

must of been big mismanagement of the funds at the top, your tax dollars hard at work... 

no, the funds was hoped to generate returns like

when economy was growing at its fastest, forever.

but they didnt, and now the tax payer has to feed the baby boomers that live longer than they paid for

[Henryford]

In the days when the pension age was 65 most people, especially men, didn't live longer than 70. Now life spans are 80+ it seems fair to increase the pension age to 75. After all you have 75 years to prepare for your retirement YOU should make provision for it.

[gmac]

1 hour ago, Henryford said:

In the days when the pension age was 65 most people, especially men, didn't live longer than 70. Now life spans are 80+ it seems fair to increase the pension age to 75. After all you have 75 years to prepare for your retirement YOU should make provision for it.

75 years to save for a pension is all well and good if you know that at the outset. My circumstance were changed for me with a 1 year addition to my pension date and a move from 30 to 35 years NI contributions after i had already taken an early retirement.  

 

The best laid plans of mice and men as they say!

[soalbundy]

12 hours ago, cooked said:

I applied for my Swiss state pension early, when I was 63, meaning I lost 13.6% monthly. I could have waited until I was 70. thereby increasing the pension by up to 30.1%, bearing in mind that you would still be paying into your pension fund during this time.

Most Swiss go for an early state pension even though many do continue working as I did. 

I retired in Germany at 57, lost something like 13% of my full pension but with my company pension added it is still more than the average working German gets as a nett wage today.

Edited August 23, 2019 by soalbundy

[from the home of CC]

5 hours ago, brokenbone said:

no, the funds was hoped to generate returns like

when economy was growing at its fastest, forever.

but they didnt, and now the tax payer has to feed the baby boomers that live longer than they paid for

Like I said, mismanagement, funds weren't invested properly. Other countries pension funds have done very well.

[cleopatra2]

38 minutes ago, from the home of CC said:

Like I said, mismanagement, funds weren't invested properly. Other countries pension funds have done very well.

In relation to the UK state pension i do not undetstand

[brokenbone]

44 minutes ago, from the home of CC said:

Like I said, mismanagement, funds weren't invested properly. Other countries pension funds have done very well.

i dont know a single country beside norway that didnt have to restructure health care/social security (cuts)

to fund the ever increasing life expectancy.

the growth in economy just doesnt

follow the aging population,

its the other way around, diminishing

profit on funds, that exacerbates

the issue of the coffin dodgers,

plus, the coffin dodger generation was keen on voting for whomever promised

more subsidies, (at the unborn voters expense through budget deficit and loans)

i.e, we live it up, up 2 next generations to pay for it

Edited August 23, 2019 by brokenbone

[from the home of CC]

6 minutes ago, brokenbone said:

i dont know a single country beside norway that didnt have to restructure health care/social security (cuts)

to fund the ever increasing life expectancy

looks like mismanagement to me when I look at other countries..

 

https://www.ftadviser.com/pensions/2019/01/31/pension-funds-suffer-biggest-losses-since-2008/

[bert bloggs]

On 8/22/2019 at 10:27 AM, cmarshall said:

Especially cruel to those who do physical, a group whose lifespan has not been extended very much in past decades, unlike us office workers.  It just cuts their lifetime pension benefits drastically.  Nevertheless, just what one would expect from the Tories.

I love the way people slate the Tories ,but it was Tony Blair the Labour PM who fought tooth and nail right to the court of human rights to ensure us pensioners did not get yearly rises abroad ,Labour /Conservative / Liberal all tarred with the same brush ,

ps Gormlass Brown (labour) also stole our private pensions .

Edited August 23, 2019 by bert bloggs

[brokenbone]

4 minutes ago, from the home of CC said:

looks like mismanagement to me when I look at other countries..

 

https://www.ftadviser.com/pensions/2019/01/31/pension-funds-suffer-biggest-losses-since-2008/

what other country beside norway arent discussing increased

pension age, austerity, and try to halt the budget deficit ?

 

self inflicted by the voters cry for subsidies imo, just a pity the politicians

arent literally flogged whenever budget breach, so as to not be shamed and named by following generations,

and their graves <deleted> on

Edited August 23, 2019 by brokenbone

[from the home of CC]

1 minute ago, brokenbone said:

what other country beside norway arent discussing increased

pension age, austerity, and try to halt the budget deficit ?

it appears your austerity move is directly related to bad investment or incompetence rather than a look to the future but of course is just my opinion, obviously you don't agree - fair enough. 

[bert bloggs]

2 minutes ago, brokenbone said:

what other country beside norway arent discussing increased

pension age, austerity, and try to halt the budget deficit ?

The main differance is WE in Britain start with <deleted> pensions and then get worse ,at least they start with a decent pension.

[brokenbone]

4 minutes ago, bert bloggs said:

The main differance is WE in Britain start with <deleted> pensions and then get worse ,at least they start with a decent pension.

most average pensions sux, cept fkn norway,

whos lowest possible ss was 65k, 10 years ago

Edited August 23, 2019 by brokenbone

[ThomasThBKK]

2 hours ago, soalbundy said:

I retired in Germany at 57, lost something like 13% of my full pension but with my company pension added it is still more than the average working German gets as a nett wage today.

Both of my parents too, but in both of their companies the new contracts do not have any clauses anymore about the "betriebliche altersvorsorge" (english: company pension plan). They worked there over 40 years at the same company and got a good amount of bells and whistles from that, that's really not an option anymore today for the youth tho.

 

I am quite happy i never paid a cent into the pension system except for my military time. As a self employed person in germany i had to take care of my own private planning, no regrets there - state pensions are usually a net loss imo.

 

I would not be surprised at all if germany and co also lift the pension age to 70+ sooner or later, seems like an extremely bad deal to me....

Edited August 23, 2019 by ThomasThBKK

[HLover]

How much does the average fighting age male immigrant receive in GB and Norway?

Also, how much a female?

Finally how much per child?

 

Not a wind up, I'd be interested in knowing before bending over to raise the retirement age. 

[brokenbone]

8 minutes ago, HLover said:

How much does the average fighting age male immigrant receive in GB and Norway?

Also, how much a female?

Finally how much per child?

 

Not a wind up, I'd be interested in knowing before bending over to raise the retirement age. 

15 years ago, 65k baht was by law the lowest legal subsidies in norway, immigrants typically gets more

cause needing house/car/furniture/washing machine/dish washing machine/etc, and umpteen children.

then there is also subsidies for rent

 

i know a worker got really

upset when she found out the immigrants next door was making much more doing nuffing then she did on her full time work

Edited August 23, 2019 by brokenbone

[thaibeachlovers]

On ‎8‎/‎21‎/‎2019 at 5:12 PM, Denim said:

What the hell......make it a round 100.

 

Imagine the money they could save !

When pensions started they were just before most people died, apparently, so they should be raised in keeping with the longer lives we live.

 

Pity of it is that there is plenty of money to pay pensions, but governments waste most of it on garbage, so oldies are an easy target to screw over- MPs get a very handsome pension, I believe, so they're all right Jack.

 

It's irrelevant anyway. As AI/ robotics will make most people jobless, we're all screwed.