Will retirement day ever arrive?

FatVonD

I also feel a bit like time is running away from me, little things like only being able to get a mortgage over 13 years instead of 25 mean that my current house is probably going to be my 'forever' house and it really wasn't what I had planned. It feels like only yesterday when the world was my oyster and I don't actually feel any different to how I did then but my opportunities have been curtailed!

luxor4t

Dunroamin wrote: »

And you might get rather more than expected if the planned changes are put in place. There's often a good side to changes as well as a bad.

I still have to work/survive an extra 8 years before I get it though

tescobabe69

Retire when you like (in UK) you wont starve.

Dunroamin

tescobabe69 wrote: »

Retire when you like (in UK) you wont starve.

That's not retiring - that's being unemployed!

Dunroamin

luxor4t wrote: »

I still have to work/survive an extra 8 years before I get it though

Then that's another 8 years to pay into your private/occupational pension!

tescobabe69

Dunroamin wrote: »

That's not retiring - that's being unemployed!

Quite, and not as much money, but still not going to work.

I hope all the people "putting money aside" are doing so in a way that wont stop them claiming benefits should they not be able to work.

POPPYOSCAR

Dunroamin wrote: »

Then that's another 8 years to pay into your private/occupational pension!

But what is the point of that if you do not live long enough to spend it!!

Both of my parents died in their early 70s so if I were to retire at 68 I would possibly only be drawing on the pension for 5 years.

POPPYOSCAR

tescobabe69 wrote: »

Quite, and not as much money, but still not going to work.

I hope all the people "putting money aside" are doing so in a way that wont stop them claiming benefits should they not be able to work.

Well we have both semi-retired and now intend to start spending that money put aside!!

Dunroamin

POPPYOSCAR wrote: »

But what is the point of that if you do not live long enough to spend it!!

Both of my parents died in their early 70s so if I were to retire at 68 I would possibly only be drawing on the pension for 5 years.

Our generation is set to live far longer than our parents, unless there's some inherited condition involved.

Mr_Toad

No one has mentioned moving the retirement age for women is also an equality thing. Women statistically live longer than men and yet retirement age was 5 years sooner than men. The changes in progress are to equal that and also to reflect that we are living longer than previous generations. Our use by date has moved, it's only fair that our sell by date is moved as well. Older people have much to offer, why should society not take advantage of this fact.

For years women have fought for equality and quite right too but that equality comes at a price.

As they get older people's views often change, mine have, I'm 55 and I don't feel any different in my head to I did when I was 30 I don't feel old and worn out and I'm happy to carry on working and earning money.

All that's happening is that mistakes and inequalities in the pension sytem are being rectified. It used to be that you could retire at 50 on a full pension, I have friends who took voluntary redundancy at 47 got 3 years salary as a lump sum paid in stages to avoid tax and their pension rights enhanced to give them a full pension at 50.

It was deals like these that helped cause the pension crisis because they end up drawing a pension for too long. Great for the individual concerned but unsustainable for their pension scheme.