aging population trends and its impact

GDB2222

bubblesmoney wrote: »

average projected life expectancy of 80y is when they were retiring at 60. but if they were working for 10 more years then life expectancy might drop a lot lower than 80y.

The Government Actuary estimates future life expectancy for a man aged 70 at the moment is 16.8 years. For a man aged 60 it's 25.4 years.

Generally, working seems to increase life expectancy, but it's very hard to measure because people may give up work because they are in poor health.

Dithering_Dad

Not without precedence on this board, but people seem to be picking up on one fact and neglecting a lot of others. One major fact is that the UK has more private pension funding in place than the rest of Europe put together, we have also increased the retirement age to 68 (phased), we have one of the meanest state pensions in the developed world and we also have a policy of self-funding care homes via sales of elderly people houses. All of the above will ensure that the UK at least will be able to sustain their elderly without a huge drag on the economy.

The ones who will suffer are the ones who do not even attempt to subsidise their state pension with private income from pensions, investments, BTL or continuing to work. Anyone who puts more emphasis on buying a home (or buying a larger home) than funding their retirement have their priorities totally out of whack.

MRSTITTLEMOUSE

What is it with you lot.You always seem to have it in for the old folk.
You'll be old yourselves one day.
Perhap's you may look back and see how daft you all sound(and I mean that in a nice way) nit picking over stuff like this.
Life tends to work out.
Regardless.

jojo1964

Compulsory company pensions for all who work, with no option to withdraw from it, easily transferred if you change jobs, with a phased change over the next 50 years to top up your company pension with a contribution equal to the amount that would have been used to pay your state pension, allowing you to opt out of state pension completely.

Pobby

All the facts and figures seem to me to be pointing to a very tough call for those starting out right now.
House prices being expensive. Bringing up a child equally very expensive. Requirement to fund retirement, that`s going to use up a fair few bob. Also these days many employers don`t provide a pension scheme where the employer contributes.
Where is all this money supposed to come from?

cocktail

Pobby wrote: »

All the facts and figures seem to me to be pointing to a very tough call for those starting out right now.
House prices being expensive. Bringing up a child equally very expensive. Requirement to fund retirement, that`s going to use up a fair few bob. Also these days many employers don`t provide a pension scheme where the employer contributes.
Where is all this money supposed to come from?

beg, borrow or steal, or --wage a war, destroy all infrastructure then offer to develop.

Wookster

StevieJ wrote: »

You could always go back to Zimbabwe

You might laugh but if there was genuine political change in Zimbabwe it would be the land of opportunity.

A_fiend_for_life

It would be interesting to see the cost of obesity and diabetes versus pension costs. Those two conditions alone may ensure a lot of people won't work until retirement.

Add to that anti-social behaviour and attention deficit in schools and longevity might not be the problem but the quality of our diet. We can't stop aging but we can improve the health and quality of life of our future workforce.

By tackling the food problem we won't need to be so drastic with our aging population who will increasingly be picking up the tab for an unhealthy 'workforce'.

GDB2222

Wookster wrote: »

You might laugh but if there was genuine political change in Zimbabwe it would be the land of opportunity.

It does seem to me that Robert Mugabe has done everything in his power to show that Ian Smith was absolutely right.

In this country, it took us around 900 years and a civil war to establish a democracy. The USA established one sooner, but they still managed to fit in the civil war, and don't forget they only abolished the last of the slavery laws about 40 years ago. So, we decide to get out of the empire business, make up these young African nations with absolutely no history of democracy, haul down the Union Jack, and expect them to manage democracy better than we did. It's amazing that they have managed to make any sort of government work at all, really.

Dithering_Dad

GDB2222 wrote: »

It does seem to me that Robert Mugabe has done everything in his power to show that Ian Smith was absolutely right.

In this country, it took us around 900 years and a civil war to establish a democracy. The USA established one sooner, but they still managed to fit in the civil war, and don't forget they only abolished the last of the slavery laws about 40 years ago. So, we decide to get out of the empire business, make up these young African nations with absolutely no history of democracy, haul down the Union Jack, and expect them to manage democracy better than we did. It's amazing that they have managed to make any sort of government work at all, really.

The USA were 'standing on the shoulders of giants' and implemented a version of democracy taken from the better bits of European democratic legislation.