What Benefits at 60?

custardy

Dimey wrote: »

I've posted in other threads that I'm unhappy about moving the women's retirement age from 60 to 65 with what I consider to be short notice and unfair selection. I appreciate the experts do not agree with me. Fine

My humble and unprofessional opinion is that I don't think that 1954 was announced 15 years ago (I agree equalising to age 65 was). I think 1954 was only announced a few years ago (I'd be interested to know definitively if anyone can post? )

But if I accept it was 15 years, that isn't long to change 25 years worth of planning especially given the recent lack of returns on investments and savings.

I think it would have been fairer to stagger by postponing womens' retirement age by only one year over a larger age group and not victimise a small 1954 group - Why us? when if you'd been born a month earlier you'd have been fine.

The 1954 group also get clobbered with the reduced pension so instead of receiving circa £200 per week, we'll just get £145 and only 5 years to try to make up that difference ourselves.

All those years of paying in extra Graduated, Serps and S2P and we'll get nothing for it.

I am fed up already and there's plenty of time for more brilliant ideas to come from government before 1954' ers get to claim their state pensions.

You mean plenty of time for everyone?

Pollycat

Dimey wrote: »

I've posted in other threads that I'm unhappy about moving the women's retirement age from 60 to 65 with what I consider to be short notice and unfair selection. I appreciate the experts do not agree with me. Fine

My humble and unprofessional opinion is that I don't think that 1954 was announced 15 years ago (I agree equalising to age 65 was). I think 1954 was only announced a few years ago (I'd be interested to know definitively if anyone can post? )

But if I accept it was 15 years, that isn't long to change 25 years worth of planning especially given the recent lack of returns on investments and savings.

I think it would have been fairer to stagger by postponing womens' retirement age by only one year over a larger age group and not victimise a small 1954 group - Why us? when if you'd been born a month earlier you'd have been fine.

The 1954 group also get clobbered with the reduced pension so instead of receiving circa £200 per week, we'll just get £145 and only 5 years to try to make up that difference ourselves.

All those years of paying in extra Graduated, Serps and S2P and we'll get nothing for it.

I am fed up already and there's plenty of time for more brilliant ideas to come from government before 1954' ers get to claim their state pensions.

I'm unhappy about my state pension age (not 'retirement age' as I took early retirement 10 years ago at age 50) moving from 63 years and 6 months (which I had known about for quite a few years ***) to 64 years 9 months at very short notice i.e a couple of years' notice.

*** I'd also be interested if anyone can say when this was announced but I know it was definitely at least 7 years ago as I knew my earlier State Pension date (63 & 6 months) was put into our spreadsheet calculations for my OH to retire early too and we did that in 2006.

dunstonh

I've posted in other threads that I'm unhappy about moving the women's retirement age from 60 to 65 with what I consider to be short notice and unfair selection. I appreciate the experts do not agree with me. Fine

That move was given almost 20 years notice. If you consider that short term, how much notice do you think you should have been given?

I don't think you will find many people that feel the move from 65 to 66 was as long as it should have been but the 60-65 change was more than adequate.

While that is of course accurate, I don't know anyone who has retired or plans to before state pension age other than due to ill-health.

The average retirement age in the UK is 62. It has been rising and may hit 63 soon. However, it is clear that many people do retire earlier than state pension age.

Dunstonh is also in fantasy land from the perspective of jobs....because age discrimination is still alive and kicking and will be for years to come. Unless you want to operate a check out.

And what is wrong with operating a checkout if you feel you are not able to do other jobs?

Bogof_Babe

Just rang them - 15 minutes and 2 seconds, according to my phone display, so whoever said about 15 minutes was bang on!

When I said I hadn't received the pack yet I got told that they might not have gone out yet "as all women reach pension age on the same day"! I worked it out to mean that the women's SPA dates are only every two months, always on 6th, so there is always a peak on 6th Jan/Mar/May/Jul/Sep/Nov.

It was implied that I should have waited for my pack to come in the post, so I said that the Gov website says if it hasn't arrived by three months before the relevant date then to phone, which is what I'm doing. Answer: "Oh that's all out of date" - hmmm.... (*rolleyes*).

Because I did not phone from my main address they will now send all my details to the relevant office, where it will "join the queue", and if I haven't heard anything by Christmas to phone again.

Time will tell...

mumps

dunstonh wrote: »

That move was given almost 20 years notice. If you consider that short term, how much notice do you think you should have been given?

I don't think you will find many people that feel the move from 65 to 66 was as long as it should have been but the 60-65 change was more than adequate.



The average retirement age in the UK is 62. It has been rising and may hit 63 soon. However, it is clear that many people do retire earlier than state pension age.



And what is wrong with operating a checkout if you feel you are not able to do other jobs?

The 1995 changes, equalising pension age for men and women, was obviously 18 years ago. The second changes, bringing the OPs wifes retirement age to 65 years 4 months I think, was much more recent, within the last 2 years?

When people retire earlier than SRP age they frequently calculate the figures including SRP, so for example when I was making provision to retire at 60 I included a need for higher income for approximately 3 years when I wouldn't have SRP, nor I have another 18 months to cover. Doesn't help with planning does it?

Also your statement about OPs wife only having 4 months added to retirement age was wrong wasn't it, you don't seem to want to answer this point.

OldBeanz

My state pension age was in ten years when I became 55 in Feb 2010 and ten years when I became 56. Last change therefore was in 2010.

mumps

OldBeanz wrote: »

My state pension age was in ten years when I became 55 in Feb 2010 and ten years when I became 56. Last change therefore was in 2010.

I think it was proposed in 2010 but the legislation didn't go through straight away so I think it must have been 2011.

paulwellerfan

As a local authority worker i am doomed to work till i am 67/68
who wants a social worker that age!!!!!!!!!!

John1993_2

shezza2 wrote: »

Behave yourself, you're obviously the type that wanted the likes of a miners to retrain as pen pushers or shop assistants after 40 years at the coal face.

Shame on you.

I was born in a mining community in the North, and grew up amidst the miners strike, and the closing shipyards.

I decided that as a godo career in the North in a traditional industry looked to be a non-starter that I'd instead get a few degrees, and head off to try to make my fortune elsewhere.

People like you would of course have told me to acccept my lot in life, stick to what was right for me, and never to raise my sights.

People like you, thank god, are in the small minority now. Most people accept that we can change our stars, and find a new way in life when we want or need to.

John1993_2

Torry_Quine wrote: »

While that is of course accurate, I don't know anyone who has retired or plans to before state pension age other than due to ill-health.

I'd planned to retire at 40. Changes to my situation have knocked it back. Maybe it'll be 50, maybe 60, maybe 90, who knows? I'll just keep saving as much as I sensibly can in the interim, and try my best to make sure that I've got enough when I want or need to stop working.

We simply can't afford to pay people to do nothing for 30 years. It's an unfair burden on everyone else, especially as the situation is only getting "worse".

The scare quotes, of course, is that the "worse" means that you are all expected, on average to ilve far, far longer than was the case when the national pension was introduced.

Talk about glass half empty thinking...