Retirement age increased to 65! Rant

dunstonh

Lucky for some eh Grandad

I hope its a long time yet before I am a grandad. My state pension age is 67.

Lokolo

dunstonh wrote: »

I hope its a long time yet before I am a grandad. My state pension age is 67.

Wow you've done quite well for yourself, I thought you were a lot older, especially with your knowledge and salary! (not trying to offend!!!!) Do you have a daughter whose around 20??????

dunstonh

Do you have a daughter whose around 20??????

Erm, 8 and 11. Dont think that will be your cup of tea.

Francesanne

I was born on the 5th April 1951 so I will have to wait until I'm 61 before I can draw my state pension but thankfully it's only an extra year, hope I'll be around to claim it.

Francesanne

margaretclare wrote: »

So what? I started work in 1951 aged 16 and worked until I was 67, so did DH. I'd be working now if there were any jobs.

but not everyone wants to work until they drop. My Gran worked part time until she was 76 but I certainly had no desire to do that. It's all down to personal choice and finances.

Lokolo

Francesanne wrote: »

I was born on the 5th April 1951 so I will have to wait until I'm 61 before I can draw my state pension but thankfully it's only an extra year, hope I'll be around to claim it.

Lucky for some, by the time I get pension I'll be 80 at this rate!

dunstonh wrote: »

Erm, 8 and 11. Dont think that will be your cup of tea.

Quite so.

Pssst

Work is good for you.What would you do if you retired early anyway? look at the tv and vegetate? Early retirement is only for the wealthy. Most of us are just wage slaves.

seven-day-weekend

Francesanne wrote: »

but not everyone wants to work until they drop. My Gran worked part time until she was 76 but I certainly had no desire to do that. It's all down to personal choice and finances.

You can retire at any age you like. What you can't do is draw your state Pension until the State Retirement age.

You could however, draw a personal or Occupational Pension from age 55.

My husband retired at 55 on his Teachers' Pension but doesn't get his State Pension until 2014.

So, you don't necessarily have to 'work until you drop'.

dunstonh

not everyone wants to work until they drop.

When the state pension was introduced the life expectancy was just 2 years [after state pension age]. Its something closer to 12 years for men and 21 years for women (assuming 60 as the state retirement age for women and 65 for men). So, its logical that the state retirement age should go up and based on life expectancy perhaps the womans retirement age should be higher than mens

If you dont want to work until the state pension age then you have a choice. Put money aside and retire earlier.

ginvzt

dunstonh wrote: »

<...>life expectancy was just 2 years.
<...>Its something closer to 12 years for men and 21 years for women <...>

I hope you mean life expectancy after the pension age, or I don't want to live where you live:eek:!!!!! I should be dead by now or I would mess up all the statistics!!!!