conservatives planning to raise retirement age to 75

msallen

metrobus wrote: »

If this think tank gets its way you'll be in your 70s before getting any state pension.I hope you allowed for this when retiring early and did not factor SP income in when planning how you will be funding yourself between 67-75.

If you imagine for a second that the SP age would be raised from 67-75 within a decade you've got even less idea than the OP.

bugslett

metrobus wrote: »

If this think tank gets its way you'll be in your 70s before getting any state pension.

I factored in the abolition of the state pension as a worst case scenario and I'd get by.

crv1963

This parliament, the next parliament and probably the one after are all tied up with Brexit. There is little policy being implemented or even suggested.

Any reforms to age 75 for SP will be 20+ years down the line. No party is going to go into an election with a pledge to raise it to 75 for any of the current voters. It may well become means tested which may or may not be a good thing, there may be a flat Govt contribution rather than the current 20% and 40% claim.

I've encouraged my sons and some that I work with to look to see when they want to go and how much they'll need to go. From that they get a plan, then start.

I disagree with the assertion that my generation has had it lucky with house price increases and inheritances. I'm afraid it has been graft for me, sometimes doing jobs I didn't enjoy but I chose to stay in my sector because of the pension, once I'd realised how good it was, in return I work hard and long.

My choices are for me and mine, others work to their goals. I've tried to teach and think I have taught my sons- no one owes you a living, you get what you pay for, you are responsible for you. Also don't count on an inheritance there are too many variables on the way, including care costs.

The moral of the suggestion by the "think tank" is that they got what they wanted- reaction, discussion and publicity. The Politicians get to put a finger into the wind and find out if their identified or target voters will support something more watered down.

All anyone can do really is save within the current rules.

Paul_Herring

ToxicWomble wrote: »

The current retirement age is not sustainable currently.
Contrary to some opinions, the NHS has gotten too effective at keeping people alive for longer and generally people are healthier and are living longer.

But, but, but, forcing people to give up smoking and drinking is going to save the country squillions!! We're told so, so it must be true!

You're implying the opposite must somehow be true...:D

cfw1994

(sorry, this is a bit of a ramble!)
I'll just hop on to say that I feel I *have* been very fortunate through my career.

My family encouraged me to get out & do things (first job aged 10!!), I become the first in our family to go to Uni (when, let's be honest, it cost a lot less than it does now).
I got into IT early, and again, that has been a 'lucky' career choice for the past 30 or more years for those in it.
I've certainly worked very hard during those times, but also been lucky enough to make a good couple of career moves that worked well for me. I've been lucky to be in a company that went from a handful of UK folk when I joined to over 250 (& to become a rare company that blows on past $5bn in value, with some outstanding leaders over the years)

I do count those blessings, but also look back & think "well, I chose to make those leaps of faith", & they did each come with a risk.
Each time I have moved roles/companies(even house moves!), I have literally written down pros & cons for leave or stay. Being in IT makes me reasonably analytical and perhaps slightly 'dispassionate' about these things - I have never been a 'political' mover in these matters.

BUT: I don't think things are far worse for youngsters today.
The opportunities are huge - there is access to a phenomenal amount of information, where back in the 80s, we had none!
Despite the awful news we get used to reading about, the world IS becoming a better, more informed, healthier place to live. Take a look at this TED talk - sadly he died a couple of years back, but his son continues the research.
Yes, I have concerns like many over the environment, but that is (& will be) a huge growth area for the next 20-30+ years. I maintain the belief that whilst there are some terrible humans we give headline news to the majority are decent hardworking people who want to improve things. Maybe my rose-tinted specs are too strong:rotfl:

Yes, Uni fees are far higher, but they are literally a future tax on their future earnings, assuming they get a decent wage. People (& especially parents) who think of it as a huge debt need to read Martin Lewis' pages on this and educate them selves and their offspring more accurately.
Housing: well, my parents last house (bought in the 60s!) cost £600, so certainly things change....& I look at other economies - in Germany, even 30 years ago when I went on sports exchange trips, City-dwellers would generally rent until their late 30s - perhaps we are moving the same way. Japan has 60+ year mortgages. Who knows how that will end.
But I remain positive for the future!

Freeman24reverseFpenny

ffacoffipawb wrote: »

Raise SPA to 75?

They will be out for a generation.

People would prefer the risk of Corbyn to that.

100% agreed. This was zany thinking by some idiot in a think thank. Not only a massive vote loser, but also out of kilter with global retirement ages. There aren't any above 70.

metrobus

msallen wrote: »

If you imagine for a second that the SP age would be raised from 67-75 within a decade you've got even less idea than the OP.

That's not what I said,go back and read it through a little slower.

metrobus

bugslett wrote: »

I factored in the abolition of the state pension as a worst case scenario and I'd get by.

Good for you,well done.

westv

I've not factored in abolition of the state pension or a rise to 120. I don't think either will ever happen.

msallen

metrobus wrote: »

That's not what I said,go back and read it through a little slower.

Yes it is. Your comment was in response to someone 10 years away from SP age. Try writing a little slower.