Nice People Thread Part 9 - and so it continues

PasturesNew

Spirit wrote: »

PN if this is the case how are you contributing to National Insurance to ensure you build up a full entitlemet to the state pension?

I did my 30 years ....

Spirit_2

PasturesNew wrote: »

My dad thought that - we'd inherit in due course.... he'd not thought about care home fees needing paying. There seem to be a lot of over 100s that've been where mum is - and she's likely to keep plodding on for another 15 years.


I never got help ... did you? You could downsize to an over 50s bungalow and give her your surplus :P

A loan for our deposit from my mum.

This is the smallest house on our village (I think) and Oh wants to live here forever.

We will have to help with a deposit, the trouble is how much. I had thought £20-£30K only it looks like a very great deal more than that would be needed.

michaels

I was thinking about pensions today and thinking it will definitely need downsizing/inheritance (except downsizing also needs to help DKs with deposits). My parents retired in their 50s but I can't see us affording to. I have 25 years to state pension age and already feel worn down and wanting to start working fewer hours

Spirit_2

LydiaJ wrote: »

We get a dinner. The food is excellent. I think you get to bring your partner if you're leaving, but not otherwise. They pick a charity and we have to give £5 to go to the dinner. It is well worth it.

That sounds like it has value all round.

Spirit_2

michaels wrote: »

I was thinking about pensions today and thinking it will definitely need downsizing/inheritance (except downsizing also needs to help DKs with deposits). My parents retired in their 50s but I can't see us affording to. I have 25 years to state pension age and already feel worn down and wanting to start working fewer hours

What is your personal provision?

I have 13 years to state pension age, but as I have said it is an irrelevance. My retirement or working 3 dyas a week will kick in in in the new year. I will be 53:eek:

vivatifosi

Spirit wrote: »

Dangerously close to on topic...have any NP thought about the impact of raising state pension age?


I am not impacted directly by this as do not expect my retirement age to be influenced by Govt policy (own crappy health being the bigger consideration) and OH will probably go to pt working at 60 (I have said before he 'down shifted' and his job is one people would like to do post retirement. Just for the record he is not a lollipop man).

I am however trying to imagine a 70+ DD working and hoping she would be fit enough. She does have a pension fund and I expect will inherit form us in due course.

Usually I think about how we help her get on to the housing ladder. This is a new concern.

I think the big issue is the impact that this has on the non-state element of a pension.

In the event that your daughter contributes to an occupational scheme and can retire through that at 65, then this is simply a matter of covering the state equivalent for those years. This is not a big cost and there is plenty of time to do it.

More concerning to me is the possibility that occupational pensions go the same way. If that happens, then retiring at 65 will become much more expensive.

chewmylegoff

Spirit wrote: »

Dangerously close to on topic...have any NP thought about the impact of raising state pension age?


I am not impacted directly by this as do not expect my retirement age to be influenced by Govt policy (own crappy health being the bigger consideration) and OH will probably go to pt working at 60 (I have said before he 'down shifted' and his job is one people would like to do post retirement. Just for the record he is not a lollipop man).

I am however trying to imagine a 70+ DD working and hoping she would be fit enough. She does have a pension fund and I expect will inherit form us in due course.

Usually I think about how we help her get on to the housing ladder. This is a new concern.

Personally I'm working on the basis that by the time I retire the state pension will be means tested and I won't be eligible to receive it. For anyone with significant personal savings and investments it won't really be an issue although I am keeping plenty outside pension wrappers in case the govt tries to stop me from accessing that until some ludicrous age.

zagubov

michaels wrote: »

I was thinking about pensions today and thinking it will definitely need downsizing/inheritance (except downsizing also needs to help DKs with deposits). My parents retired in their 50s but I can't see us affording to. I have 25 years to state pension age and already feel worn down and wanting to start working fewer hours

It seems outrageous to me that job sharing isn't encouraged more and work isn't rationed out more fairly across age groups and amongst people who can't achieve skills arnd work experience in the dole queue. For workload, it's either famine or glut.

LydiaJ

PasturesNew wrote: »

I hate the +partners dos. I've rarely worked anywhere that put on a Xmas do - most you have to pay. So it's bad enough paying, but a +partners really makes it a cr4p night as [a] they stick together they stick together with other couples.

Spirit wrote: »

Dangerously close to on topic...have any NP thought about the impact of raising state pension age?


I am not impacted directly by this as do not expect my retirement age to be influenced by Govt policy (own crappy health being the bigger consideration) and OH will probably go to pt working at 60 (I have said before he 'down shifted' and his job is one people would like to do post retirement. Just for the record he is not a lollipop man).

I am however trying to imagine a 70+ DD working and hoping she would be fit enough. She does have a pension fund and I expect will inherit form us in due course.

Usually I think about how we help her get on to the housing ladder. This is a new concern.

I'm not worried about it. My mum was forced to retire when she turned 65, so went and found herself some volunteer stuff to do instead. My dad took early retirement at 62 and then carried on going into work for the next 20 years or so, unpaid, just for the fun of it. (He was an academic doing research in a university.)

I don't know that I'd want to work full time to 68 or 69 or whatever, but then I don't work full time now. Part time to that kind of age I don't mind about. After all, if I live as long as, say, the average of my mum and two grandmothers, then retiring at 60 would mean I'd have more years retired than working (time off for degree, PhD and 4 years SAHM), and that's just silly.

ETA I know I am better off than most to be in a job where part time work is reasonably easily available, and where the long holidays don't make it feel like such a relentless grind as I imagine other jobs might.

lostinrates

chewmylegoff wrote: »

Personally I'm working on the basis that by the time I retire the state pension will be means tested and I won't be eligible to receive it. For anyone with significant personal savings and investments it won't really be an issue although I am keeping plenty outside pension wrappers in case the govt tries to stop me from accessing that until some ludicrous age.

This is exactly the basis we have always worked on.