‘Work Until You Drop?’ Fury as Pension Age Could Hit 71 While Brits Struggle to Save for Retirement

https://www.ibtimes.co.uk/work-until-you-drop-fury-pension-age-could-hit-71-while-brits-struggle-save-retirement-1738931

Posted by globalgazette

41 comments

  2. A grim vision of the future.
    Boomers have sucked the life out of this country.

  3. I mean… yes. This is what the pension system was designed for – to give people a bit of money to last them a handful of years at the end of their lives before they keel over. It was never designed to fund a 20+ year retired life.

    Because of increasing life expectancy and better healthcare, people are living longer and that does put incredible pressure on the pension system. The “solution” so far has been to keep supplementing the existing pensioners with NI money that is being taken from current workers’ wages. Meaning that we’re going to hit a black hole in public finances at some point, when we all retire and find out that there’s no money for our state pensions. That’s what the government is trying to stave off by increasing the retirement age. All it’s doing really is kicking the can down the road.

    There’s also an argument that, due to increasing life expectancy and better healthcare, people are fitter for longer and that 65 may be younger than necessary for many people to retire. Of course most people do want to retire at that age, and should be entitled to retire with the pension(s) that they’ve been paying into.

  4. The double whammy here is that the age you can access a private or work pension is unnecessarily tied to when you get the state pension. So even if you save wisely to fund your retirement, the govt can still decide when you get to stop working.

  5. If the government are going to continue to fuck my generation into the fucking floor, they could at least buy us dinner first

  6. So when you get to 65 you’ll just withdraw your pension, pay the fine for early release and then take all your money and go live in Thailand.

  7. I’m due to retire in 20 years, that is until they move the goal post again. I paid my mortgage off as fast as possible and I’ve already started saving up, putting my money into investments instead of private pensions except extra contributions to work based pension.

    I have zero intention of working a day after my 65th birthday, I’ll save enough money to last me until they decide I can have my pensions. I’ll just fake some injury or illness to get sick pay as well.

    Bums rig the system their entire lives, illegals are getting everything they shouldn’t be entitled to, while I’ve worked every day since I was 16 paying into the system. You better believe I’m getting my slice back before I drop

  10. Meanwhile. Taxes up. Services down. Economy fucked.

  11. If the pension age rises then the payments need to be trimmed down for all, including those who are already on the pension as whilst it might not be the boomers fault, we’re all in it together…

  12. This is why I am so apathetic towards work and what I do with my life. No matter what I do, there will never be a rest period towards the end of my life where I can actually enjoy myself. That’s why I’ve cut my hours back and rearranged my shifts so that I can have as much free time as possible now.

  13. I am absolutely convinced it will be 72 by the time I retire.

  15. Hey look, on the one hand, everyone under the age of 50 will die penniless in their jobs and the only thing they’ll be passing onto thier kids is generational debt

    But on the other hand, current pensioners, the wealthiest group in the country, might be ever so slightly less well off

    Its a tough choice for any government, let alone one that couldn’t even stop giving £300 a year to pensioners in 3 million pound homes earning 35k a year

  16. And, if you tolerate this, then your children will be next.

    Which judging by the comments, good. Ageist bunch of cunts. They won’t believe in retirement yet as they are still waking up supple. When everything hurts just swinging your legs out of bed in the mornings, maybe this “boomer” shit they keep writing about will come back to haunt them.

    I still have decades to go before I retire. That’s without Labour increasing my working age into my next life. But everyone should be able to retire and enjoy life without work commitments when they become infirm, slower, more prone to injury. Learning/working for 80% of your life is more than fair. Most people are not living to 100.

  17. Many jobs are already being lost, a friend of mine is a product photographer at a professional level who works with many major brands, some of his regular clients are now shifting to AI generated content and saving tens of thousands and can get results in realtime, he is like many others in this field who may have to consider a career change at some point.

  18. Unclear to me why the media supported the WASPI women so much but don’t have the same energy for supporting the young affected by this

  19. I’m a builder, my body is falling apart now at 57, back, shoulders and knees are fucked already. I Need an easier job to be honest.

  20. It is too generous to be sustained with such low taxes.
    Either it has to be made more realistic or it will eventually be made available only when one is 80

  22. It’s not physically possible even if you could get a job

  23. I’m very surprised Labour never mentioned work till you drop in their manifesto !

    This would have been a major deterrent for most voters .

  24. So all them pensioners under 71 are going to have to start work again right and lose access to their pensions?

  25. Another Brexit benefit. Wait I thought all the money we sent to the EU was going to trickle all the way back to our front doors now we have control back?

  26. Pro tip – don’t rely at all on the State Pension and invest heavily and aggressively in your private DC fund. Check out the FIREUK sub Reddit, work hard and cash out early.

  27. I’m 33, I’ve already comes to terms that I won’t be getting a state pension.

  28. It’ll be longer when reform get in and destroy the younger workforce

  29. Where every day will be a “take your coffin to work day”.

  31. The old man of the family is 85 and is up and in the tractor every morning. He has cancer.

    Sadly I won’t be doing the same as Labour will kill off the business when he passes.

  32. Is this not what mass immigration was supposed to solve?

  33. So with AI getting better and now 71 year old OAPs in the workforce, and an ever expanding population, what exactly are all these jobs for everyone actually going to be?

  34. Future looking crap for the young when they get old. I dont mean the ones in 20’s and 30’s i.mean the ones who are not born yet. They be working until they drop. When they do,they have a rubbish pension and be struggling to.live.

  35. Your weekly reminder that you can retire when you have enough money. 

    Don’t rely on the pittance that the government are going to maybe pay. Put some aside yourself. 
    Any money that you add to your company pension is *yours* and you can invest it where you want and take is when you want (after 55). 

    The money that the state are going to give you is feeble, don’t rely on it. 

  38. We need to take lessons from the French and start protesting on the streets!

  39. but you’ll keep voting Labour or Conservative.

    does voting even change anything!?

  40. I’m in my thirties and do not see myself living to my 70s given health issues etc. So I work 60 years of my life to get nothing back? Brilliant

  41. I’m 66 and I have all sorts of projects on in the building game it’s no secret I cannot do what I used to do however I plod away.

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