State pension age increased to 68 from 2037....

[Ernest]

You can always get an apprenticeship or pick fruit if your pension age goes up

#thankyoutories

 

[Shuggie]

Bloody youth of today. Don't know when you're born. We got kicked out of school at 15. The government stuck TWO bleeding years on our retirement age, robbed us of ACT and started nicking our houses when we got old. You bunch of molly-coddled, ungrateful long-haired louts the lot of you..

 

[GOM]

Unfortunately I think it is their intention - the more die before pensionable age, the less money they have to put by to fund state pensions, or at least minimise it.

By then people will be living longer than they are now, so will probably 'enjoy' their pension for longer too despite getting it later. When the State pension first started peoples life expectance was only into their sixties, it was only intended you'd get it for a few years.

 

[Wrong-Direction]

Unfortunately I think it is their intention - the more die before pensionable age, the less money they have to put by to fund state pensions, or at least minimise it.
Some of the scenarios and discrepencies coming out of recent changes seem arbitrary and unfair. The irony is that it impacts less on a lot of public sector workers who, in general, have generous "company pensions" that can be taken early without too much of a discount. Those on lower wages tend to be those without an additional pension because they cannot afford them - and they get impacted even more. The rich get richer and the poor get poorer.

Same old story that people still can't seem to grasp

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[Biscuit]

The auto-enrolment a few years ago was a REAL blessing for me.

I was properly penny pinching before, hence I didn't sign up to the scheme. It was only due to the auto-enrolment that I joined as it made me realise how silly I was being.

I will never be rolling in it in retirement, but it will be lovely to, as you say, enjoy it.

I only started with auto enrolment too, so yeah very much a blessing. Should have been bought in ages ago.

Does your employer match your contributions? If they do find out what the cap is as it's free money. I pay in over what my company is willing to match, long term it'll be worth it. Although lucky enough to have a couple of other investments which are fairing OK at the moment.

You can always change who manages your private pension, I know a few names that have worked wonders. Worth taking an active interest in,

 

[Guy Fawkes]

Sadly it's an example of the younger generation having to pay the price of public spending on services and alike as a result of Government spending (by all parties, over centuries)

And it's only ever likely to become even later in life and mean people will have to work until they are much older in future as Governments (of any political persuasion) struggle to fund our services properly, mainly caused by the huge national debt and that 8% of all tax revenue collected goes to just servicing that debt (and not reducing it)

 

[DIFFBROOK]

Not true. Public Sector pensions fall into line with State Retirement Age. So for those born after 6 April 1970, Public Sector pension age is 68. A double whammy. Yes, you can take it earlier, but unless you pay more into it during the years working you will face quite a steep early exit.

Unfortunately I think it is their intention - the more die before pensionable age, the less money they have to put by to fund state pensions, or at least minimise it.
Some of the scenarios and discrepencies coming out of recent changes seem arbitrary and unfair. The irony is that it impacts less on a lot of public sector workers who, in general, have generous "company pensions" that can be taken early without too much of a discount. Those on lower wages tend to be those without an additional pension because they cannot afford them - and they get impacted even more. The rich get richer and the poor get poorer.

 

[Deleted member 22389]

That's why the sooner you start your own pension the better. It's the same for everyone across the world.

 

[Brovion]

I am NOT making any comments on the rights and wrongs of the decision, but when the modern universal state pension was introduced (in 1948 I think) it was set at 65 for men. This was despite the fact that the life expectancy of a man was about 60! In other words there was a good chance you'd die before you reached pensionable age. Using the same rough logic if pensions were being introduced now the retirement age would probably be set at around 85!

#justsayin

 

[Uncle C]

£8,300 currently.

Do what?

 

[Westdene Seagull]

Do what?

£159.55 a week - https://www.gov.uk/new-state-pension/what-youll-get

 

[BUTTERBALL]

Phew....missed out on this change by 6 weeks.

 

[heathgate]

....http://www.bbc.co.uk/news/business-40658774

*******s! Another year for me

Alternatively... you could prepare properly over the course of your working life and retire early.... I did just that, at 54 I retired this year at the end of Jan..... I am not wealthy... at retirement I was earning 48k.. I had no intention of relying on the state pension, anybody who does is a bleedin fool. If I live to 67, I will get a welcome income addition.

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[Blackadder]

£8,300 currently.

Only if you were "contracted out" for the entirety of you National Insurance contributions.

This has been phased out so young people will get the full pension but older people had had their State Pension reduced.

 

[DIFFBROOK]

Alternatively... you could prepare properly over the course of your working life and retire early.... I did just that, at 54 I retired this year at the end of Jan..... I am not wealthy... at retirement I was earning 48k.. I had no intention of relying on the state pension, anybody who does is a bleedin fool. If I live to 67, I will get a welcome income addition.

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So way above average earnings.

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[heathgate]

At 54 I would hope so.... my first pay packet in 1980 was take home 100 per month.... no degree, just a bit of endeavour.

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[sir albion]

Spend your money and have fun or pass it on....life's go short

 

[Dick Head]

Chris Evans was born in 1966 so he'll be okay.

 

[Gary1]

Alternatively... you could prepare properly over the course of your working life and retire early.... I did just that, at 54 I retired this year at the end of Jan..... I am not wealthy... at retirement I was earning 48k.. I had no intention of relying on the state pension, anybody who does is a bleedin fool. If I live to 67, I will get a welcome income addition.

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You are right - people should look ahead and prepare accordingly as we all know that one day the final weeks/months salary will land in your bank account. However I would say that you have done well to be earning 48k a year. Would take me and many others over two years to earn that. The problem I see is that those who work in very physical jobs simply won't be able to keep having their retirement age pushed back as the body won't stand up to it particularly if you've been involved in this sort of employment for over 50 years.Those on the high salaries and gold plated pensions making the reports to government and those ministers implementing the laws wouldn't even be able to consider this sort of thing as they've never done anything like a proper days graft in their life. Nonsense to expect someone who's been involved in physical labour all their life to be able to keep working on.

 

[Leekbrookgull]

JUST WAKE - UP someone has to pay for THOSE who never had tuition fees.along with free TV,Bus Pass,No prescription charges and in era of affordable housing and let.s not forget the triple lock PLUS two thirds final pension.