Pension chat

Albermarle

LHW99 said:

IanManc said:

Band7 said:

metrobus said:

francoghezzi said:

After I have read that pensions in Uk are very generous I asked for my holidays so I can go on laughing

Exactly these idiots should compare it to the rest of Europe where they retire earlier and get far more.
And it’s nothing to do with BREXIT it’s been the same for the last 25 years.

Goodness me, the claims regarding our state pensions get ever more bizarre. Comparing state pension amounts of totally disparate social security, health, social care and tax systems is comparing apples and pears.

To claim that “the rest of Europe retire earlier” is also demonstrably incorrect. Sure, there are some countries with lower state pension ages than ours but there are also some where it is higher. Pensioner poverty in many European countries is running at similar levels as in the UK.

According to this table, no other European country has a higher retirement age than 67. 34 European countries have a lower state pension age. Only five other countries have a retirement age of 67, and for people in the UK the current state retirement age of 67 for anyone born from 1961 onwards is jointly the highest in Europe.  For anyone in the UK born from 1978 onwards the state pension age is 68, making their current state pension age clearly the highest in Europe.

https://en.wikipedia.org/wiki/Retirement_in_Europe

The research briefing I previously linked to in the House of Commons Library did compare the "totally disparate social security, health, social care and tax systems" of other European countries with ours, finding that the UK devotes a smaller percentage of its GDP to state pensions and pensioner benefits than most other advanced economies and that other countries have greater state provided provision for pensioners.

You seem to enjoy starting your contributions with your trademark "Goodness me" and "I'm afraid" patronising openings, and calling other people's opinions "a myth" or "bizarre" but that doesn't add any weight to your postings, which are, to coin a phrase "demonstrably incorrect".

There is however the aspect that retirement age does not equal state pension age in every country., as this article details

https://www.euronews.com/next/2023/04/06/pension-reform-in-france-which-countries-have-the-lowest-and-highest-retirement-ages-in-eu

We can access private pensions from 10 years below SPA, and could "retire" much earlier if funds / lifestyle allow, as some people on these boards appear to have managed. Autoenrollment is ensuring a majority will have more than just state pension to rely on in future, and may well be expanded further as the years pass.

I worked for a European based company and the large majority of my colleagues were not British, although a few were.
I would not pretend to understand the different state and company pension schemes in each country, but it seemed that many felt obliged to continue working until a specific age, or they would lose out significantly. Alternatively to retire early needed agreement/negotiations with the employers pension scheme. Although very few ever seemed to retire early.
It was quite a shock I think when I announced I was going to retire when I was 61, and that it was entirely my decision and no need to discuss any pension issues. Even more of a shock when a more senior UK manager followed suit at only 55. So I think for the better paid employees, who make the right pension provision, the UK has more flexibility?
On the other hand in this country if you do not ( or can not) make extra provision for yourself, you are probably in a  worse position than retirees in many other European countries.

IanManc

Band7 said:

Really? You know more than A House of Commons Library research paper on the subject? That is truly laughable.

Given that you know just about nothing about my knowledge about state pensions, you are clearly getting carried away by your emotions. I have no intention to entertain you further.

You have no information whatsoever on my emotional state. Having belittled anyone with an opinion on pensions which differed from your own, and having ignored any sources of information offered to you, you finally drop the topic completely and simply resort to personal abuse.

Everyone can see that for what it is.

Qyburn

IanManc said:

According to this table, no other European country has a higher retirement age than 67

That table gives retirement ages as of today's date, or in some cases as of a year or so ago. On that basis the UK age is 66. Nine countries are higher.

If you're looking at the "due to increase to" ages there are 10 due to increase to 67 or more. Not all forecasts out to 2046 are shown but there are already a couple of 68s and one 70 listed.