55 year old women lose approx £30k in State Pension

dunstonh

I think you're right - it is about how you think or psychologically respond to effectively losing £30,000 or whatever the sum is. If you can treat losing £30,000 as a minor irritation it doesn't affect you as much. But it is harder to do that as you get closer to retirement and when it's not the first 'irritation' (change in pension age) you've had to adjust to.

You are not losing money though unless you plan on retiring early. If you keep working then you gain another two years worth of income that you were not going to have. Indeed, you may gain another two years of pension contributions that increase your income in retirement above what you planned. Or if you keep working for one year you can save up enough to stop working the second year.

level200

Common womans saying " A womans work is never done!!" ..... that could be why you get paid less!!

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

wotsthat

Originally Posted by wotsthat
I am a working man and ......

missile wrote: »

... getting in touch with my feminine side :rotfl:

Missile I'm flattered by the attention but I'm heterosexual and not interested in you that way - try not to be too upset.

molerat

snowgo wrote: »

I think you're right - it is about how you think or psychologically respond to effectively losing £30,000 or whatever the sum is. If you can treat losing £30,000 as a minor irritation it doesn't affect you as much. But it is harder to do that as you get closer to retirement and when it's not the first 'irritation' (change in pension age) you've had to adjust to.

As I have said elsewhere, the £30K is only lost in the same way as £5M was lost on the lottery last week, it was never there in the first place.

wotsthat

As I have said elsewhere, the £30K is only lost in the same way as £5M was lost on the lottery last week, it was never there in the first place.

A small group of women (those born in 1953/54) thought they were sufficiently close to retirement to be able to plan on their state pension forecast of a year ago being correct - they were wrong. Where you see the lottery analogy is beyond me.

As it happens there seem to be a majority who think this is a great idea as it will make them financially better off. The same must therefore hold true for increasing pension age for men.

To be honest I thought the state pension age increases were just a cost-saving measure. Maybe we should increase state pension to 80 as soon as possible and remove the pension from anyone currently over 65 - it would be for their own good - any takers on this board?

custardy

wotsthat wrote: »

A small group of women (those born in 1953/54) thought they were sufficiently close to retirement to be able to plan on their state pension forecast of a year ago being correct - they were wrong. Where you see the lottery analogy is beyond me.

As it happens there seem to be a majority who think this is a great idea as it will make them financially better off. The same must therefore hold true for increasing pension age for men.

To be honest I thought the state pension age increases were just a cost-saving measure. Maybe we should increase state pension to 80 as soon as possible and remove the pension from anyone currently over 65 - it would be for their own good - any takers on this board?

you can retire when you like
it only relates to eligibility of state pension
so if you choose to hand your notice in then its your choice
however if you continue to work then you haven lost £30K
only the ability to sit at home and be paid that money
who knows,maybe the pension age will be 80 in a few decades

of course the increasing of the pension age is a cost cutting measure.what else would it be?

wotsthat

you can retire when you like

Not a single person, including me, is saying otherwise. This is just a statement of the bleeding obvious.

it only relates to eligibility of state pension

Yes I believe that's the premise of the thread. Let's put this on the bleeding obvious pile as well.

so if you choose to hand your notice in then its your choice

Yes - well done - guess which pile that's going on

however if you continue to work then you haven lost £30K only the ability to sit at home and be paid that money

Nearly. What's been lost (for an albeit small group) is the option to take a state pension that last year the government forecasted but has now delayed. It's also being argued that this change has been introduced rather rapidly. Whether this group were going to sit at home, eat rich tea biscuits and watch Jeremy Kyle is somewhat irrelevant.

who knows,maybe the pension age will be 80 in a few decades

I hope it will be and that in the intervening period people will, with encouragement from the government, take full financial responsibility for themselves in retirement. However, the government need to set a timetable for this which gives sufficient time to plan.

of course the increasing of the pension age is a cost cutting measure.what else would it be?

If you'd paid attention, you'd see that some people argued that this was not just about cost cutting but a matter of equality whilst others thought it would actually benefit this relatively small group of women. There was quite a healthy debate with many, on all sides of the argument, offering opinions accompanied by reasoned arguments - however having reviewed your posts I can see that you were not amongst this group.

kennethw_2

mitchaa wrote: »

The system is/was sexist. Women wanted equal rights so you've got to take the rough with the smooth.

Agree!!
What about no help with housing for single men unless long term illness or disability??

wotsthat

What about no help with housing for single men unless long term illness or disability??

That's quite a random thing to throw into a thread discussing the state pension entitlement of women who are exactly 55 years of age.

Do you have a special interest in single men who get no help with housing unless they are ill or disabled - if so maybe you should start a thread about it and ask people to contribute.