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Access to pension at 55 - mitigating against govt min age changes
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bjorn_toby_wilde said:legLogan72 said:Why is there not a tapered/staggered introduction of this? The 55-57 overnight change (which could soon be 55-58).It seems to be a cliff edge and for the sake of being born a minute later than another person, someone who is thinking about retirement with their peers has to wait two years (possibly three) 'because tomorrow comes'?? I'm so surprised that I haven't seen Martin talk more about this. Have I got this wrong?Forgive me if I have but I am 55 weeks before 6 april 2028 and intend to access my private pension and retire. My wife is 55, days after 6 april 2028 and intended the same - she/we now have to wait two tears (likely three) before she can do the same. To all intents we are the same age but one is being unfairly discriminated against in the most maximum of ways.Also, I've seen that 'anyone born after 6 April 1971' is affected? What is the relevance of this birth date in relation to being 55 before 6 april 2028? I was born in 1972 but am 55 before 6 april 2028?Very grateful for assistance.
Plenty of time for you to plan for this surely?0 -
Logan72 said:Forgive me if I have but I am 55 weeks before 6 april 2028 and intend to access my private pension and retire. My wife is 55, days after 6 april 2028 and intended the same - she/we now have to wait two tears (likely three) before she can do the same. To all intents we are the same age but one is being unfairly discriminated against in the most maximum of ways.
But you're right. You are being discriminated against by being allowed to take money intended to fund your old age when you are only 55, meaning you might need to fall back on state benefits or simply live in poverty.
Happily your wife has a much better chance of her cash holding out, given that she has the protection of being unable to access it until 57, so with luck she'll ensure the pair of you avoid a call on the public purse because you've been permitted to splash the cash far too young.Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!1 -
Logan72 said:I am 55 weeks before 6 april 2028 and intend to access my private pension and retire. My wife is 55, days after 6 april 2028 and intended the same - she/we now have to wait two years (likely three) before she can do the same.
What specifically makes you think your wife will need to wait three years? Is she a deep-cover spy with a false life history and is really a year younger than she claims?N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Ripple Kirk Hill member.
2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 34 MWh generated, long-term average 2.6 Os.Not exactly back from my break, but dipping in and out of the forum.Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!1 -
It has been well broadcast, the trouble is you don't know what they are going to do next!
While I have been putting money aside to get me to 57 I don't know if that is going to become 58+ before I get there.
The average person has been living longer for quite some time, the state pension becoming increasingly larger as a percentage of the government's expenses should be pretty predictable, and yet changes are not being made early enough.Think first of your goal, then make it happen!1 -
Surely if there was any change to the pension rules anyone affected would receive an individual letter from the government.0
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Hi,Logan72 said:Also, I've seen that 'anyone born after 6 April 1971' is affected? What is the relevance of this birth date in relation to being 55 before 6 april 2028? I was born in 1972 but am 55 before 6 april 2028?
I'm sure this will catch a number of people out.3 -
We are already planning for it, although my wife is 55, 2 weeks before the April 6th flip over point, the way pension companies take their time organising anything, we have been putting money aside to get us through the 2 years. Also the issue of can she claim her pension for 2 weeks then wait another 2 years before claiming again, this still has not been answered.Living in supposedly sunny Kent
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ESE facing with a 40 degree slope0 -
Logan72 said:Why is there not a tapered/staggered introduction of this? The 55-57 overnight change (which could soon be 55-58).It seems to be a cliff edge and for the sake of being born a minute later than another person, someone who is thinking about retirement with their peers has to wait two years (possibly three) 'because tomorrow comes'?? I'm so surprised that I haven't seen Martin talk more about this. Have I got this wrong?Forgive me if I have but I am 55 weeks before 6 april 2028 and intend to access my private pension and retire. My wife is 55, days after 6 april 2028 and intended the same - she/we now have to wait two tears (likely three) before she can do the same. To all intents we are the same age but one is being unfairly discriminated against in the most maximum of ways.Also, I've seen that 'anyone born after 6 April 1971' is affected? What is the relevance of this birth date in relation to being 55 before 6 april 2028? I was born in 1972 but am 55 before 6 april 2028?Very grateful for assistance.
And whilst it's not something I would have chosen, the difference is that I paid attention to the (copious) information that was published on the subject and planned accordingly.
Yes the whole transition thing is a mess, but what else would you expect...0 -
I'll be one of those who can access at 55, and then will lose access the following April. Wasn't really a big issue, until suddenly it looked like my job is likely disappearing around that time, and I'm not at an age where I'm likely to find it easy to replace it0
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Filo25 said:I'll be one of those who can access at 55, and then will lose access the following April. Wasn't really a big issue, until suddenly it looked like my job is likely disappearing around that time, and I'm not at an age where I'm likely to find it easy to replace itGoogling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0
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