Pension and old people

Radiantsoul

Pensions seem to be a big problem that no government has much incentive to deal with. How can this be changed? It might be that in a democracy where the medium term is the next election and the long term the election after that it will prove difficult.

It seems private provision is inadequate and perhaps government provision will be too expensive. But the idea that people can just go on and on working might not work either. Employers seem to have a preference for younger workers, and this doesn't seem to be a preference that will be easily overcome.

lemonjelly

Too many will vote against it, as voters these days think with their wallets.

The retired as a sector of the population almost all vote. They'd be against it.

Thos approaching retirement are also more likely to vote than not, and will therefore be unlikely to support it.

The young (mainly) do no vote, so it wouldn't recieve popular support.

RenovationMan

Radiantsoul wrote: »

Pensions seem to be a big problem that no government has much incentive to deal with. How can this be changed? It might be that in a democracy where the medium term is the next election and the long term the election after that it will prove difficult.

It seems private provision is inadequate and perhaps government provision will be too expensive. But the idea that people can just go on and on working might not work either. Employers seem to have a preference for younger workers, and this doesn't seem to be a preference that will be easily overcome.

So far they have increased the state retirement age for women from 60 to 65, increased the early retirement age from 50 to 55, increased the state retirement age from 65 to 68, linked the state pension to earnings, abolished the old 15% cap on private pension contributions and made it 100% of earnings, allowed a minimum of £2808 pension for everyone, including children, put a maximum cap of something like £255k on pension investment, changed the maximum cap on pension contributions to between £30k & £40k per year (to stop 50% taxpayers from hiding money), Set the lifetime allowance to £1.8M (the max you can have in a pension pot), brought in legislation to force all employers to set up employee pensions plans, created stakeholder pensions, put in plans to phase out stakeholder pensions, carried out a raid of pensions dividends, etc. etc.

If that's the government not dealing with pensions, then I'd hate to see what they would get upto if they did.

PasturesNew

If there are only so many jobs, it seems madness to force those who have already worked for 50 years to work for more, when some have never worked.

Share out the years of working I say.

RenovationMan

PasturesNew wrote: »

If there are only so many jobs, it seems madness to force those who have already worked for 50 years to work for more, when some have never worked.

Share out the years of working I say.

How do we afford to keep these pensioners who have worked for 50 years but have not put anything away for their own retirement?

Batchy

RenovationMan wrote: »

So far they have increased the state retirement age for women from 60 to 65, increased the early retirement age from 50 to 55, increased the state retirement age from 65 to 68, linked the state pension to earnings, abolished the old 15% cap on private pension contributions and made it 100% of earnings, allowed a minimum of £2808 pension for everyone, including children, put a maximum cap of something like £255k on pension investment, changed the maximum cap on pension contributions to between £30k & £40k per year (to stop 50% taxpayers from hiding money), Set the lifetime allowance to £1.8M (the max you can have in a pension pot), brought in legislation to force all employers to set up employee pensions plans, created stakeholder pensions, put in plans to phase out stakeholder pensions, carried out a raid of pensions dividends, etc. etc.

If that's the government not dealing with pensions, then I'd hate to see what they would get upto if they did.

Classic moment...

If carlsberg did pensions... lol

wherediditallgothen

RenovationMan wrote: »

How do we afford to keep these pensioners who have worked for 50 years but have not put anything away for their own retirement?

Eat them. But at that age the meat will probably need to simmer for a few days, so best to start it before you're really hungry.

nearlynew

A reduced population and/or falling standards of living for all is the only way out.

bigbigmamamoo

nearlynew wrote: »

A reduced population and/or falling standards of living for all is the only way out.

Assisted suicide for the terminally ill is becoming more socially acceptable. I don't think this is just coincidental with the change in population demographics

wherediditallgothen

bigbigmamamoo wrote: »

Assisted suicide for the terminally ill is becoming more socially acceptable. I don't think this is just coincidental with the change in population demographics

If I'm ever in a situation where I'm terminally ill and a shadow of my former self, it would be something I'd consider without a doubt.

Old_Slaphead

bigbigmamamoo wrote: »

Assisted suicide for the terminally ill is becoming more socially acceptable.

Really? You wouldn't believe it from the 'keep 'em alive at any cost' brigade.

I think, under proper medical certification, we should be given the option of a little black capsule at 75 (or from an earlier age if circs dictate)