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

missile

BM_Surrey wrote: »

..... I have been running my own business for the last 15 years and ..........

like the rest of us, you should have been making provision for retirement. I guess you have an acountant? Have you not discussed retirement planning with him/her?

jamesd

McKneff wrote: »

I suppose it depends on what kind of work yu do really, i work in the construction industry (secretarial and accounts) and see some of these 60 year old builders who are absolutely knackered physically and look 10 years older.

It really does. Live expectancy for manual labourers and other manual workers is substantially lower than lawyers, doctors and other professionals.

BM_Surrey wrote: »

I just think that my age group is taking the brunt and that there could have been a softer transition.

It's probably going too slow as it is, unfortunately. If the idea was to try to keep the tax burden under control, taxes on the baby boomer generation would need to be increased so most pay more prior to retirement and retirement ages increased so more of the baby boomer generation is paying for longer than currently planned. But these increases would be less than the ones planned for subsequent generations.

BM_Surrey wrote: »

I have been running my own business for the last 15 years and I have been stitched up big time by a couple of clients who, altogether have taken me for more than £100k!!

Sorry to read of your troubles. I can understand that being very demoralising. Best wishes for your success in recovering and for your pension planning so you can have a long and relaxing retirement.

dunstonh

It really does. Live expectancy for manual labourers and other manual workers is substantially lower than lawyers, doctors and other professionals.

Shift workers with a variable shift time (such as police officers) have the amongst the worst life expectancy of a "normal" occupation. Just 2 years.

bristol_pilot

Life expectancy, especially in the historical past, is largely a matter of child mortality rates. It is a fallacy to think that there were no old people in past times.

I agree with equalising pension ages for men and women. Although women live longer on average, individuals die at their own age (so to speak), not the average age.

jamesd

bristol_pilot, cohort life expectancy at age 65 has few children included, since the whole cohort is aged 65 at the start. While individuals matter greatly to an individual and their family for taxes it's the trend that matters.

hethmar

bristol_pilot wrote: »

Life expectancy, especially in the historical past, is largely a matter of child mortality rates. It is a fallacy to think that there were no old people in past times.
.

Absolutely right, I am a family history fiend and can assure you I have a number of 90/95 year olds in the 19th and 18th centuries and an 84 year old in the 15th century with most others, if not killed in battle or injuries, or by disease in their childhood, certainly well into their 60s and 70s..

SandC

I'm 39 now and my state pension will be available to me when I turn 67. I am not a high earner but I'm going to do everything I possibly can to avoid having to wait until that age to retire.

Incidentally, from when I first heard that the pension age for women was going to go up it seemed an absolute age before it affected any working women I knew. I too find it strange that you have been working all this time and never knew until recently.

Always did think it a bit unfair if your hubby was the same age that he'd have to be working an extra five years compared to you, if you didn't have sufficient provision elsewhere for you both to retire.

cyclonebri1

McKneff wrote: »

at 47 youre nobbut a bairn, not far past the prime of your life.

You really shouldnt be knackered. You should be having the time of your life if your children are grown up. (no offence intended, Im sure you know that)

Its amazing what you can do, when push comes to shove.
I started work at 15, had a year off at 18 with my first, then 4 years later had another year off with my second, have worked full time ever since till i got to 60 last October. Then down to 3 days a week.. 20 years ago i started with multi joint arthritis, then Osteoporosis, then pernicious aneamia, but I wont let it control me, i think thats what keeps me going, Im a control freak. lol.
Yet looking at me I'm the picture of health, its a bit of a drawback at times.

I suppose it depends on what kind of work yu do really, i work in the construction industry (secretarial and accounts) and see some of these 60 year old builders who are absolutely knackered physically and look 10 years older.

:T:T:T:T:T:T
And theres the nub mk K, no offence. How the hell can manual workers that have actually worked go on beyond 65????


65 is not a target, it's a maximum.; As you say most are old, becuase of their efforts, before their time :mad::mad::mad::mad::mad::mad::mad::mad::mad::mad:

Bloody armchair polititions, :mad::mad::mad::mad:

cyclonebri1

dunstonh wrote: »

Think yourself lucky your state pension age is 65. Mine is 67.



.

Dunstonh, are you male or female?????????????:A

custardy

cyclonebri1 wrote: »

:T:T:T:T:T:T
And theres the nub mk K, no offence. How the hell can manual workers that have actually worked go on beyond 65????


65 is not a target, it's a maximum.; As you say most are old, becuase of their efforts, before their time :mad::mad::mad::mad::mad::mad::mad::mad::mad::mad:

Bloody armchair polititions, :mad::mad::mad::mad:

must admit in Royal mail you could see the guys over 50 quite literally falling to bits as the years went on
back,knee and hip problems are rife