Phasing of State Pension Age

Figgerty

bigfreddiel wrote: »

Studies have shown that retiring at 60 or 65 has no affect on age of death.

Cheers fj

What about the length of time people work (outside the home) and the type of work they do?

p00hsticks

Figgerty wrote: »

I will go ahead with my retirement plans for next year and bite the bullet on having to work three years longer than my friend who was born in the same year.

You start to lose sympathy by over-egging the pudding...

According to your original post you will retire when you are 2 years and four months older than your friend

The other eight months "longer" are simply because you are eight months younger than your friend !

p00hsticks

Figgerty wrote: »

I used to watch a programme called Tomorrows World back when computers were starting to be used in offices. They thought the computer was going to take over big parts of our work and the end result would be that we would all work much shorter weeks and have lots of leisure time.

.... And I think we could have done, but as a society in general we decided that rather than have shorter working weeks, more leisure time and lower pay, we wanted to carry on working a full week in order to earn more money to pay for luxuries ...

chiefie

p00hsticks wrote: »

.... And I think we could have done, but as a society in general we decided that rather than have shorter working weeks, more leisure time and lower pay, we wanted to carry on working a full week in order to earn more money to pay for luxuries ...

I remember the same thing in the papers in the 70's saying what life would be like in 2000. And you are right, if we stuck to one car, holidayed in North wales (as we did every year - and it was great !), ate out once every six months etc etc we could indeed work 3 days per week. Or at least I could - we just got suckered into buying more and more stuff !

greenglide

As to the pension amount. I was probably contracted out by my employer at a time when I was buying my first home and every pound counted. If I was told that my NI was lower because I was in the company pension scheme I would have been happy about it. I now understand why my state pension is lower than someone who was not contracted out but with the same number of years NI contributions.

For many years employers had the power to automatically contract you out if you where in their pension scheme. The employer met the costs of the scheme over and above the employees contributions and obviously wished to take advantage of the reduced employers NI contributions. In practice your choice between being in the scheme and contracting out or not joining the scheme and not contracting out.

The scheme would always paid more than the additional pension that could be accrued by not contracting out. Why, exactly, would you expect the employer to pay additional employers contributions for you to not contract out?

Figgerty

greenglide wrote: »

Why, exactly, would you expect the employer to pay additional employers contributions for you to not contract out?

I did not EXPECT my employer to do anything. I accepted paying a lower rate NI and that was that.

I swallowed the Osborne/Webb propaganda on the flat rate pension of £144 that everyone would get - that was the first figure I remember hearing. It wasn't until I heard that many pensioners would be getting a lot less that I started to worry. I now know that I should get roughly the same pension I was previously entitled to, without the state second pension, as only those who were contracted in will get that element.

Figgerty

p00hsticks wrote: »

You start to lose sympathy by over-egging the pudding...

According to your original post you will retire when you are 2 years and four months older than your friend

The other eight months "longer" are simply because you are eight months younger than your friend !

I posted here to obtain information I was not looking for sympathy. In the table that I obtained all the data from (see below) it gave the date of birth ranges but only the full age for SPA.

Women born on 6 Sep or after 5 Oct 1954 will be 66 when they become entitled to their state pension.

Women born in 1953

Birthday State Pension Age

1 Jan - 5 Mar 62

6 Mar 63

7 Mar - 5 April 62

6 April - 5 July 63

6 July 64

7 July - 5 Aug 63

6 Aug - 5 Nov 64

6 Nov 65

7 Nov - 5 Dec 64

6 Dec - 31 Dec 65


Women born in 1954

Birthday State Pension Age

1 Jan - 5 Sep 65

6 Sep 66

7 Sep - 5 Oct 65

6 Oct - 31 Dec 66


Need an urgent information campaign to make sure women know:

I have not seen a table like this on the DWP website, I wonder why.

noh

Figgerty wrote: »

I posted here to obtain information I was not looking for sympathy. In the table that I obtained all the data from (see below) it gave the date of birth ranges but only the full age for SPA.





I have not seen a table like this on the DWP website, I wonder why.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/310231/spa-timetable.pdf

mgdavid

Figgerty wrote: »

......
I swallowed the Osborne/Webb propaganda on the flat rate pension ......

No propaganda, you are making it up.
It is single-tier pension, not flat rate, very different. If you read the detail you would understand.

bigadaj

Never forget, everyone thinks they are a victim now.