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Thread: Aged 39 to 47? Bad news!

  1. #1
    International jon1959's Avatar
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    Aged 39 to 47? Bad news!

    The government has decided that you will now get your pension at the same time as your telegram from the Queen!

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

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    Re: Aged 39 to 47? Bad news!

    I've long since given up any hope of retiring. I reckon I will still be working into my 80s, if I'm still of this parish.

  3. #3

    Re: Aged 39 to 47? Bad news!

    Will this change the age I can draw my private pension?

  4. #4

    Re: Aged 39 to 47? Bad news!

    Quote Originally Posted by J R Hartley View Post
    Will this change the age I can draw my private pension?
    What you getting involved for? The thread title said 39 - 47, not 10 - 16 !!

  5. #5

    Re: Aged 39 to 47? Bad news!

    Quote Originally Posted by William Treseder View Post
    What you getting involved for? The thread title said 39 - 47, not 10 - 16 !!

  6. #6

    Re: Aged 39 to 47? Bad news!

    How the feck do they expect roofers, brickies etc to still be grafting at that age? Alright if you're sat on your arse in an office all day, but seriously this is taking the piss. Years ago most firms would have an unwritten policy that nobody over the age of 55 works up ladders, common sense dictated this.

  7. #7

    Re: Aged 39 to 47? Bad news!

    At least we've been given some warning so that I can pay a little more into my private pension scheme...

  8. #8

    Re: Aged 39 to 47? Bad news!

    Quote Originally Posted by jon1959 View Post
    The government has decided that you will now get your pension at the same time as your telegram from the Queen!

    http://www.bbc.co.uk/news/business-40658774
    So the queen has started sending out telegrams when you reach your 68th Birtday then has she?

  9. #9

    Re: Aged 39 to 47? Bad news!

    Quote Originally Posted by TISS View Post
    I've long since given up any hope of retiring. I reckon I will still be working into my 80s, if I'm still of this parish.
    There will be hordes of people setting off to work in their dotage, getting half way and wondering where they were heading.

  10. #10
    International jon1959's Avatar
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    Re: Aged 39 to 47? Bad news!

    Quote Originally Posted by Nick View Post
    So the queen has started sending out telegrams when you reach your 68th Birtday then has she?
    Oi - this isn't the BBC thread!

  11. #11

    Re: Aged 39 to 47? Bad news!

    Quote Originally Posted by J R Hartley View Post
    Will this change the age I can draw my private pension?
    No that's still 55. Although did put it up from 50 a few years ago. They may well change in the future. They'll want people to live off private pensions and be less reliant on the State.

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    Re: Aged 39 to 47? Bad news!

    Quote Originally Posted by William Treseder View Post
    What you getting involved for? The thread title said 39 - 47, not 10 - 16 !!

  13. #13

    Re: Aged 39 to 47? Bad news!

    The state pension has bounced up recently to a weekly payment of £155.65 (£8,094 PA) , Think it was £115.95 (£6,029 pa).It now has the triple lock as well .

    So I guess a 40 year old will have to save £8,094 over the next 28 years to make up for that lost year , its around a fiver a week I think ,they could try and save that shortfall and still retire at the same time, not great news , at least its a fair bit of notice .

    Think the world of good early pensions has gone sadly , and its driving a bigger debate ,not only the state pension one there is the liability of the public sector pension to the public purse , the sad fact the private sector working people don't earn enough to match the public sector pensions , so they will lean more on the need of a fundable state pension .

    Folk are living longer although we have seen a recent slow down, so that liability obliviously grows with it .

    You even see the pension liability impacting on saving jobs like Tata Steel and many other old heavy industries ,that have enjoyed very good pensions .

    Ain't an easy one this , along with many other funded debates , like health , hey maybe it the broken NHS fault for keeping us alive longer ?

  14. #14

    Re: Aged 39 to 47? Bad news!

    Quote Originally Posted by TISS View Post
    I've long since given up any hope of retiring. I reckon I will still be working into my 80s, if I'm still of this parish.
    Never ever retire.

  15. #15

    Re: Aged 39 to 47? Bad news!

    Trying to make ends meet, you're a slave to the money then you die.

  16. #16

    Re: Aged 39 to 47? Bad news!

    Quote Originally Posted by TISS View Post
    I've long since given up any hope of retiring. I reckon I will still be working into my 80s, if I'm still of this parish.
    Really?

  17. #17

    Re: Aged 39 to 47? Bad news!

    Solution-
    Raise income tax, also raise the tax-free allowance.
    LOWER the pension age to 60
    More coffin dodgers retire, freeing up decent jobs for youngsters, who earn wages, pay tax and NI instead of this zero-hours crap,
    Their tax and NI pay for the pensioners.

    Simples.





  18. #18

    Re: Aged 39 to 47? Bad news!

    Quote Originally Posted by bobh View Post
    Solution-
    Raise income tax, also raise the tax-free allowance.
    LOWER the pension age to 60
    More coffin dodgers retire, freeing up decent jobs for youngsters, who earn wages, pay tax and NI instead of this zero-hours crap,
    Their tax and NI pay for the pensioners.

    Simples.




    Way too sensible!

  19. #19

    Re: Aged 39 to 47? Bad news!

    There was a BBC article a few months back which I believe was titled "how to live off £20,000 a year once you retire". The answer was to start saving young and put X towards your pension per week/month.

    I can't remember what X was but I felt it was quite high given how poor wages are for many young people and how expensive rent is. I certainly could not afford it.

    And all before Brexit kicks in....

  20. #20

    Re: Aged 39 to 47? Bad news!

    Quote Originally Posted by surge View Post
    There was a BBC article a few months back which I believe was titled "how to live off £20,000 a year once you retire". The answer was to start saving young and put X towards your pension per week/month.

    I can't remember what X was but I felt it was quite high given how poor wages are for many young people and how expensive rent is. I certainly could not afford it.

    And all before Brexit kicks in....
    i looked at a private pension when i hit 40, i was going to have to put in just over £470 a month to make it worthwhile

    £470 a month, thats way out of my range, i would prefer to live now and spend it

  21. #21

    Re: Aged 39 to 47? Bad news!

    Work all your life, pay into the system all your life, for some c*nt who's never worked a day in their life to be looked after. Welcome to GREAT Britain.

  22. #22

    Re: Aged 39 to 47? Bad news!

    Quote Originally Posted by blue matt View Post
    i looked at a private pension when i hit 40, i was going to have to put in just over £470 a month to make it worthwhile

    £470 a month, thats way out of my range, i would prefer to live now and spend it
    You obviously left it too late. I paid 100 a month into a pension since i was 21 and looking at 250k-300k if I retire at 60/61.
    Played the Asian market and done ok last 10 years.
    My mortgage finish at 52 so pay more into it and try get it half a mil by time I'm 60.

  23. #23

    Re: Aged 39 to 47? Bad news!

    Quote Originally Posted by blue matt View Post
    i looked at a private pension when i hit 40, i was going to have to put in just over £470 a month to make it worthwhile

    £470 a month, thats way out of my range, i would prefer to live now and spend it
    Great post

  24. #24

    Re: Aged 39 to 47? Bad news!

    Quote Originally Posted by William Treseder View Post
    What you getting involved for? The thread title said 39 - 47, not 10 - 16 !!
    Brilliant!

  25. #25
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    Re: Aged 39 to 47? Bad news!

    Quote Originally Posted by jon1959 View Post
    The government has decided that you will now get your pension at the same time as your telegram from the Queen!

    http://www.bbc.co.uk/news/business-40658774
    I think i'm at 67 before i get mine, no final salary here!! but to be fair, just like the NHS, when these schemes were set-out, life expectancy wasn't what it is now and with further advances in medicine, will get longer, i'd love to be able to retire like many do at my age but just accept that, god willing, i'll have to work until 67 (at present but expect it to increase) I don't think that it's an easy problem to solve other than a population cull by means of a war or disease outbreak (something like Ebola!!)

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