Something that doesn't seem to get mentioned

FTBFun

Graham_Devon wrote: »

Bizzarely enough, just read that the government have delayed extending the pension age. Costing taxpayers an extra £1bn, because some women born in the 1950's would have to wait an extra 2 years for their pensions.

Of course, everyone under that age will have to wait regardless. But wasn't fair on these ladies.

Absolutely nothing to do with older people generally being more active voters of course.

Thrugelmir

IveSeenTheLight wrote: »

I know generations before walked miles to work to save the tuppence bus fares.

Wasn't that long ago! When people walked to save money........

wotsthat

FTBFun wrote: »

Absolutely nothing to do with older people generally being more active voters of course.

I'd agree.

Whenever an unpopular measure is introduced by a government there's always a watering down process. The government has managed to accelerate the increase in the state retirement age - it's cost them £1bn - they'd probably consider that cheap.

pqrdef

Going4TheDream wrote: »

I dont know what the answers are, there are too many variants to put everyone in the same boat and come up with a one size fits all solution... personally I am prepared to take responsibility and go without certain so called 'luxuries' to be able to afford to try and help make my future more comfortable.... 20 odd years is a long time to sit in reflection and be bitter about your circumstances when you have no money for even the basics

Of course it all depends how much pension you're going to get. If it's no more than the benefits it stops you from getting, you'll still be on the poverty line, but unlike the more f*ckless, or more sensible, you'll have paid for it yourself.

A more substantial pension that takes you away from the poverty line makes all the difference, but you have to stomach the hefty premium you have to pay for that difference.

Percy1983

Thrugelmir wrote: »

Wasn't that long ago! When people walked to save money........

I get the bus instead of driving, does that count?

Batchy

I couldnt have saved in my earlier years, I had little luxuries, and no spare cash, infact, I was in a negative cash scenario.

I have a lovely pension now thanks to my employers who pay in a handsome 15% of my gross salary. I think this is not quite a final salary, but has other benefits anyway as well as me being in control of it.

I would say its nearly 20% down where I would have liked it to be now... based on some dramatic falls recently in most markets.

At the end of the day, where the ftse has fallen 20% from recent highs to recent lows ... then expect that fast to feed through to most things in the long term, so in 30 years, things might be 20% cheaper than they would have been has their not been a fall of 20% in the markets recently.

Its all relative, to panic about it now, doesn't do people many favours.

To not be exposed to this NOISE, you have to position yourself very differently, buyt then your exposed to opportunity risk, not being part of what joy may come to the majority.

System

My wife started her pension at 22, I started mine at 28.

All my mates at work are on the work pension scheme, but a lot of my self employed friends are still looking to property for their pensions.

Edit: Should probably add, the pension scheme I'm on is pretty generous

Going4TheDream

IveSeenTheLight wrote: »

Many countries don't offer a weldare state.
You either work, or youdon;t earn.
Retirement - many countires have elders in the same houselhold to help look after grandchildren whilst the parent work.

What you say is true however our society has changed. People often no longer live nearby their parents, people have to travel for jobs and move away. We no longer have factories at the end of the road or decent job opportunities locally. We have moved away from traditional family set up of many generations ago when those things did happen. Often families that do live close find their parents are working and sometimes feel they have done their bit and dont feel it is their role to bring up their grand children!

IveSeenTheLight wrote: »

A question is, what is "getting by".
I know generations before walked miles to work to save the tuppence bus fares.
Do people cook and recycle left overs from home nowadays becomming efficient in their groceries?
I think people "getting by" is not as hard as "getting by" from previous generations.

I am sure for some getting by is genuinely just as hard, however how many many people really struggle with the concept of needs and wants. Do they need the latest all singing and dancing mobile or sky tv. No but they want it. I see daily on certain forums people talk about how hard up they are yet seem to spend a lot of money on things they dont need or are not essential. On the other hand pension they genuinely NEED they dont have as they dont want it as much as the latest gadgets and dont see the bigger long term picture... Until peoples attitude change then there will be no change to the problem!

wotsthat

Joeskeppi wrote: »

Edit: Should probably add, the pension scheme I'm on is pretty generous

Jammy git

Snooze

IveSeenTheLight wrote: »

I'm almost 38 now (nearly 40) and am still contributing to a pension

:huh:

Surely you are nearly 38 now, not 40.