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Post by mtrstudent on Apr 8, 2024 16:12:08 GMT
BBC. I get we're living longer but I thought the idea was that we'd all get richer and it'd be alright. Can't see my mates in the trades lugging around kit at 74.
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Post by cvillestokie on Apr 8, 2024 16:29:52 GMT
Pension age set to rise to 68 in over 20 years but somehow “75 is the new 65”? Hyperbolic nonsense.
Best way to protect yourself though is to invest as much as you can and cut back on shite you don’t need (or really even want).
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Post by thehartshillbadger on Apr 8, 2024 16:33:10 GMT
I’m convinced I’ll die at work, I can hear Hamsta sharpening his scythe as we speak
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Post by mtrstudent on Apr 8, 2024 17:05:11 GMT
Pension age set to rise to 68 in over 20 years but somehow “75 is the new 65”? Hyperbolic nonsense. Best way to protect yourself though is to invest as much as you can and cut back on shite you don’t need (or really even want). They're quoting some finance lecturer with the 75 year thing. I just think of what it'd be like. Can you still get through your 5 morning pints at spoons in your late 70s like the mid-60s lads I see? |
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Post by svengaliinplatforms on Apr 8, 2024 18:02:40 GMT
I'm still reeling from being told I need £350k in my pension for a 'comfortable' existence 🤣🤣
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Post by mrcoke on Apr 8, 2024 18:09:55 GMT
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Post by thehartshillbadger on Apr 8, 2024 18:12:01 GMT
I’ve just worked out what I’ve earned in my lifetime compared to what I actually have now. I need a lie down
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Post by chuffedstokie on Apr 8, 2024 18:16:30 GMT
I’ve just worked out what I’ve earned in my lifetime compared to what I actually have now. I need a lie down I daren't do that particular sum. |
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Post by cvillestokie on Apr 8, 2024 19:33:43 GMT
Pension age set to rise to 68 in over 20 years but somehow “75 is the new 65”? Hyperbolic nonsense. Best way to protect yourself though is to invest as much as you can and cut back on shite you don’t need (or really even want). They're quoting some finance lecturer with the 75 year thing. I just think of what it'd be like. Can you still get through your 5 morning pints at spoons in your late 70s like the mid-60s lads I see? Honestly, I’d be mildly surprised if there was a state pension in the UK (or US) when I retire in 35 or so years. |
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Post by Gods on Apr 8, 2024 20:26:07 GMT
You have to think of this as a good news story.
When the pension age was set to 65 in the 1940's average male life expectancy was 67. So it was just something to keep you in dignity for a couple of years before you turned up your toes.
Now we all live to 90 or 95 you can't seriously pay someone an inflation linked income for doing the best part of fuck all for the thick end of 30 long years!
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Post by stokeson on Apr 8, 2024 20:33:58 GMT
You have to think of this as a good news story. Whe the pension age was set to 65 in the 1940's average male life expectancy was 67. So it was just something to keep you in dignity for a couple of years before you turned up your toes. Now we all live to 90 or 95 you can't seriously pay someone an inflation linked income for doing the best part of fuck all for the thick end of 30 long years! Was talking to a Health statistican about just this yesterday. He said obesity in this generation has thrown all predictors out the window and vaping could be almost as bad as smoking in the long term reducing life expectance even further......... |
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Post by scfcno1fan on Apr 8, 2024 20:42:35 GMT
I’m 33.
I’m near certain there will be no state pension in 35 years when I’m due to claim mine.
Biggest Ponzi scheme known to man.
Lump as much as you can in your private pension.
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Post by Gods on Apr 8, 2024 20:59:27 GMT
I’m 33. I’m near certain there will be no state pension in 35 years when I’m due to claim mine. Biggest Ponzi scheme known to man. Lump as much as you can in your private pension. Yep, save more, compare less. |
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Post by foghornsgleghorn on Apr 8, 2024 21:05:55 GMT
You have to think of this as a good news story. Whe the pension age was set to 65 in the 1940's average male life expectancy was 67. So it was just something to keep you in dignity for a couple of years before you turned up your toes. Now we all live to 90 or 95 you can't seriously pay someone an inflation linked income for doing the best part of fuck all for the thick end of 30 long years! Largely agree, but as the article linked by MrCoke explains, UK average life expectancy is some way short of 90-95, and for many a good number of those later years are spent "not in good health". |
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Post by iancransonsknees on Apr 8, 2024 21:13:34 GMT
You have to think of this as a good news story. Whe the pension age was set to 65 in the 1940's average male life expectancy was 67. So it was just something to keep you in dignity for a couple of years before you turned up your toes. Now we all live to 90 or 95 you can't seriously pay someone an inflation linked income for doing the best part of fuck all for the thick end of 30 long years! There's plenty who get that privilege before pension age. |
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Post by smallthorner on Apr 8, 2024 21:24:37 GMT
You have to think of this as a good news story. Whe the pension age was set to 65 in the 1940's average male life expectancy was 67. So it was just something to keep you in dignity for a couple of years before you turned up your toes. Now we all live to 90 or 95 you can't seriously pay someone an inflation linked income for doing the best part of fuck all for the thick end of 30 long years! Not sure where you're coming from on this. But in my own situation... I've paid NI and Tax for 50 years. I've been retired for two years and now approaching 70. I have a small private pension pot that supplements my state pension. My wife and myself thoroughly deserve our retirement pension and the agreed increases that go with it. Do you disagree.? |
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Post by thehartshillbadger on Apr 8, 2024 21:36:32 GMT
I’m 33. I’m near certain there will be no state pension in 35 years when I’m due to claim mine. Biggest Ponzi scheme known to man. Lump as much as you can in your private pension. Yep, save more, compare less. Easy for some, hard for most |
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Post by adri2008 on Apr 8, 2024 22:12:49 GMT
The state pension is a Ponzi scheme. It doesn't work if the tax base is reducing and is being paid out for decades after retirement. The triple lock system makes the situation even worse by putting inflation pressures on the working population which is already over stretched.
A large increase in retirement age is inevitable in my opinion.
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Post by neworleanstokie on Apr 8, 2024 22:41:14 GMT
They're quoting some finance lecturer with the 75 year thing. I just think of what it'd be like. Can you still get through your 5 morning pints at spoons in your late 70s like the mid-60s lads I see? Honestly, I’d be mildly surprised if there was a state pension in the UK (or US) when I retire in 35 or so years. US Social Security pays significantly more than the UK but we pay in significantly more and work more weeks/year (try taking 2 weeks off in a row here or expecting more than 4 week paid vacation). The amount most Americans think you need for a comfortable retirement is now ~$1.2M. |
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Post by Gods on Apr 9, 2024 7:05:35 GMT
You have to think of this as a good news story. Whe the pension age was set to 65 in the 1940's average male life expectancy was 67. So it was just something to keep you in dignity for a couple of years before you turned up your toes. Now we all live to 90 or 95 you can't seriously pay someone an inflation linked income for doing the best part of fuck all for the thick end of 30 long years! Not sure where you're coming from on this. But in my own situation... I've paid NI and Tax for 50 years. I've been retired for two years and now approaching 70. I have a small private pension pot that supplements my state pension. My wife and myself thoroughly deserve our retirement pension and the agreed increases that go with it. Do you disagree.? I would feel very much as you do. I was just trying to set out the problem here in stark terms. |
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Post by phileetin on Apr 9, 2024 8:24:09 GMT
i read in a quality newspaper (express or mail ) that there may be plans to means test the state pension in future.
in other words , penalise those that have had the foresight to save again.
pisses me off
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Post by henry on Apr 9, 2024 8:37:14 GMT
i read in a quality newspaper (express or mail ) that there may be plans to means test the state pension in future. in other words , penalise those that have had the foresight to save again. pisses me off Punishment for hard work, it’s what this country does best. Just spaff your money then claim benefits. |
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Post by elystokie on Apr 9, 2024 9:15:26 GMT
i read in a quality newspaper (express or mail ) that there may be plans to means test the state pension in future. in other words , penalise those that have had the foresight to save again. pisses me off Shouldn't worry too much unless you hear it from a reliable source. Those publications have got the same 'regard' for the truth as the Liar King i.e. zero |
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Post by phileetin on Apr 9, 2024 10:15:12 GMT
i can understand the concept of means testing but...
think of social care , savings of more than 23500 you have to pay for it yourself and your house is snatched in the process.
the one major failing of this gov't imo is that they were going to address social care . they were going to introduce a limit but somehow it's all got lost in the ether . can't remember if labour opposed the limit or not but nobody wants to talk about it anymore.
i think this is the issue that would shift the next election in a seismic way . it fucked up theresa may when it was rumoured that she was introducing a dementia tax in 2017 ( majority went from expected 60 seats to hung parliament ) and i think it contributed a lot to boris having huge majority when he was elected pm.
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Post by gawa on Apr 9, 2024 11:27:50 GMT
You have to think of this as a good news story. When the pension age was set to 65 in the 1940's average male life expectancy was 67. So it was just something to keep you in dignity for a couple of years before you turned up your toes. Now we all live to 90 or 95 you can't seriously pay someone an inflation linked income for doing the best part of fuck all for the thick end of 30 long years! Life expectancy has peaked in my opinion, I think that number will start going the other direction now. Mental health shot, cancer diagnosis increasing, more young people getting cancer, health service gone to shit. Those with private health care will do alright but for the rest of us we are heading the opposite direction. Not a good news story at all. |
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Post by Eggybread on Apr 9, 2024 11:39:34 GMT
You have to think of this as a good news story. When the pension age was set to 65 in the 1940's average male life expectancy was 67. So it was just something to keep you in dignity for a couple of years before you turned up your toes. Now we all live to 90 or 95 you can't seriously pay someone an inflation linked income for doing the best part of fuck all for the thick end of 30 long years! Life expectancy has peaked in my opinion, I think that number will start going the other direction now. Mental health shot, cancer diagnosis increasing, more young people getting cancer, health service gone to shit. Those with private health care will do alright but for the rest of us we are heading the opposite direction. Not a good news story at all. With austerity, poverty, plus issues with our national health system and the state of the publics health in general (overweight) like you I am conviced it will start to decline.If is doesnt then theres going have to be some strong drugs and many nurses to look after a poor nation. |
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Post by Gods on Apr 9, 2024 13:02:22 GMT
You have to think of this as a good news story. When the pension age was set to 65 in the 1940's average male life expectancy was 67. So it was just something to keep you in dignity for a couple of years before you turned up your toes. Now we all live to 90 or 95 you can't seriously pay someone an inflation linked income for doing the best part of fuck all for the thick end of 30 long years! Life expectancy has peaked in my opinion, I think that number will start going the other direction now. Mental health shot, cancer diagnosis increasing, more young people getting cancer, health service gone to shit. Those with private health care will do alright but for the rest of us we are heading the opposite direction. Not a good news story at all. It's surely good news that average life expectancy was 67 when the pension age was set to 65 in the 1940's and now its 80? We've all been gifted 13 more years. The question is how do we pay for it? |
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Post by desman2 on Apr 9, 2024 14:17:11 GMT
You have to think of this as a good news story. When the pension age was set to 65 in the 1940's average male life expectancy was 67. So it was just something to keep you in dignity for a couple of years before you turned up your toes. Now we all live to 90 or 95 you can't seriously pay someone an inflation linked income for doing the best part of fuck all for the thick end of 30 long years! Why not. They pay those in the public sector for doing fuck all. |
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Post by stokeson on Apr 9, 2024 14:22:56 GMT
You have to think of this as a good news story. When the pension age was set to 65 in the 1940's average male life expectancy was 67. So it was just something to keep you in dignity for a couple of years before you turned up your toes. Now we all live to 90 or 95 you can't seriously pay someone an inflation linked income for doing the best part of fuck all for the thick end of 30 long years! Why not. They pay those in the public sector for doing fuck all. Liz Truss will be getting 128k a year for 8 weeks work..... |
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Post by mtrstudent on Apr 9, 2024 14:48:30 GMT
You have to think of this as a good news story. When the pension age was set to 65 in the 1940's average male life expectancy was 67. So it was just something to keep you in dignity for a couple of years before you turned up your toes. Now we all live to 90 or 95 you can't seriously pay someone an inflation linked income for doing the best part of fuck all for the thick end of 30 long years! Why not. They pay those in the public sector for doing fuck all. Is that true? I basically work public sector and I find it gruelling. It's intense, with long hours, insecure funding etc. My friends who jumped to the private sector said it's lots easier. And the pay is way higher. I regularly get recruiters emailing me with salary ranges 50-100% above what I'm on. |
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