MSE News: State pension age 'heading for late 60s'

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  • dunstonhdunstonh Forumite
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    it already is in the UK with the timeline to increase from 65 to 68 already in place.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • yelfyelf Forumite
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    Groundbreaking! Well done MSE.
  • roystererroysterer Forumite
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    Should be the first port of call for this government to tackle.
    Police retirement at age 55 ?????????? its not that physical sitting in a patrol car waiting for the next motorist. You dont see them walking the streets where scumbags run riot ruining decent peoples lives, maybe if they did then the public would show more support towards them.
  • jpjp_2jpjp_2 Forumite
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    Agree on public sector pensions, they should line up with everyone else. I heard a serving policeman on a London radio station last week saying that it's a physical job restraining culprits, and they deserve pensions at 55 because they can no longer do the job. Tosh! Put them into less physical jobs (motorway patrol or even desk jobs) and retire at the same age as everyone else.

    The main retirement age will head to 70, I'm sure, merely as an obvious reaction to improvements in healthcare leading to increased life expectancy leading to the need to earn for more years to pay for more retirement years.
  • It is very clear that this 'issue' is not a social trend. It is a short term expedient for the government.

    When I started work in 1972, the official pension age was 65, but it was "well known" that youngsters (then) like me would be retiring at age 55. A society of more and increasing wealth, coupled with a boom in leisure industries was 'certain' to make this happen.

    In fact, so strong was this 'conditioning' that I went through 34 years of work knowing I would retire at 55. OK, I missed it by 4 months, but retired at 56 all the same. Glad I did.

    All that is happening now, and for obvious reasons, is that Governments are looking to save money and what better way to do this than to delay paying state benefits (in the form of pensions)?

    The need to link actual retirement age to the age at which state pensions are paid is clearly directly proportional to the degree any one individual is going to need to rely on them.

    For younger people, therefore, I would strongly council them to do everything they can (a) to diminish their reliance on state pensions, and (b) to set up their own goals and plans to retire at the age that suits them.

    There are some extremes. Some people love work so much they would not retire however much money they have in the bank. Others who have had no opportunity, or inclination, to save will be forced to retire when the state pays their pension (earliest).

    All those in the middle will have the same choice I had - to retire when they want.
  • moleratmolerat Forumite
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    jpjp wrote: »
    .......................... I heard a serving policeman on a London radio station last week saying that it's a physical job restraining culprits, and they deserve pensions at 55 because they can no longer do the job. Tosh! Put them into less physical jobs (motorway patrol or even desk jobs) and retire at the same age as everyone else.
    If many of them shed a few stone perhaps they would be able to do the job a bit longer.
  • molerat wrote: »
    If many of them shed a few stone perhaps they would be able to do the job a bit longer.

    I once saw a fat cop perspiring
    I said 'what's the time? I'm enquiring
    Then out of the blue
    He said "Haven't a clue"
    I'm both stupid and shy and retiring
  • DavesnaveDavesnave Forumite
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    Where are the informed, intelligent comments from those who have retired or been forced to retire?

    From a personal perspective, I knew I was over the hill at about 58, at least in the position I held throughout my main working life. That didn't mean I was completely past it, but as no structured mechanism existed to ease me into a less demanding role, I retired, took my pension early and moved into something altogether different. This has kept me fit and away from needing help from the NHS, but all the expertise I had, and the training I received, has been wasted.

    Suddenly, around 60, many people find themselves unable to properly cope with the roles they were happy with a decade previously. Times and thinking change more rapidly than ever before. Sometimes it's a physical thing , sometimes mental, and frequently a bit of both. Facing folk with the prospect of soldiering-on, especially when that impacts negatively on many others, is undesirable, but that's what may happen if the only alternative is to work in the local B&Q.

    Structured winding-down is something which needs planning just as much as career paths for the young. Yes, it's great that many my age run charities and keep the social scene alive in many areas, but we can do much more
  • podomanpodoman Forumite
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    I am a public sector worker, have just had 3 years of real terms pay cut,:( now 2 more years of real term pay cut :(as a result of the pay freeze:mad: announced by our millionaire prime minister. Would you want me at 70 with my shaky hands and dodgy eyesight using a sharp scalpel on you:eek: , doubt it who would but it looks as if you have that coming to you.

    I shall now have to look for another job as I will have to retire at 62 due to my pension scheme conditions, my wife has lost her state pension for 6 years even though she has contributed fully towards it all her working life and now mine is to be delayed further. :(I have no working life left to fund top ups etc, unlike you young smart mouths who are denigrating public sector pensions. The pay and conditions are crap and now so is the pension and retirement, thanks a lot british public it has been nice serving you, NOT!!!!!!!!!:mad::mad::mad::mad:
  • podomanpodoman Forumite
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    If we want jobs for the young we need to pension of the top of the pile. Pensions for aged will always be cheaper than multilple benefits for the youn and families. Pity the govermnet never sees this as a plan
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