UK will have to raise retirement age after election, minister says | Economic policy

44 comments
  1. This being a minister that makes it Conservative Policy to raise it next term.

    Now everyone else can put it in their manifesto to not rasie it.

  2. Sure just keep screwing everyone over again and again and see where it gets you. Haven’t you already noticed that people don’t want to work themselves to death for a pittance?

  3. They want us to work until we are in our grave.

    We don’t deserve anything nice if it means they can’t milk every last penny out of us.

  4. Sure, the older generations have taken everything from us and pulled the ladder up, might as well include a dignified retirement too /s

    We don’t need to raise the retirement age, we just need to tax the wealthiest people and companies more. Like Schoolboy Sunak for instance, who somehow only paid 22% tax on a £4.7m income.

  5. Generations before us were almost always richer than their parents. A few bumps in the road, but for the last few hundred years, the average person has gone from being a serf, to a factory worker, to middle class.

    And now that process is reversing.

    But here’s the funny thing: Technology has improved the whole time. Productivity is higher than ever, and it increases every single year. Which means wealth generated is also increasing every single year.

    But the average person is getting poorer. How can this be happening? It’s a mystery that no one can explain, not even all the new billionaires that the UK gained last year. Simply no one knows where all this EXCESS WEALTH is going.

    Don’t worry though, they’ll only bump up the retirement age 4-5 more times before you get to retire. And meanwhile life expectancy is sinking, so you can meet in the middle.

  6. People might be living longer, but they’re fucked. Raise the pension age when there are all these wonder drugs to stop us aging, not before.

  7. Do these politicians appreciate that most people have to actually work? We can’t all waste our lives – and other people’s money – sat in the House of Commons.

    Retirement age to go up, but Westminster’s subsidised bar and canteen to be left alone, I presume?

  8. Looking at the headline I was going to critique his foolishness for performing a gaff by being negative before an election but it’s actually refreshing to read his honest assessment.

  9. Millennials and younger won’t be retiring with a state pension. When the state pension was introduced, there was 12 workers for every pensioner, and the pension was for an average of 8 years. Now there are just over 3 workers per pensioner. We need to talk about the fact the biggest users of the NHS is pensioners and they pay nothing towards it. The system that worked so well for the boomers, made them the most wealthy and privileged generation, isn’t going to work in the future.

  10. Apart from being disgustingly unfair this makes no sense. We have falling life expectancy with a health service being privatised and ultimately likely to put healthcare out of reach for the less well off. AI fast approaching the point of being able to take a considerable number of exactly the sort of jobs that the 65+ are likely to still be able to do. Ultimately if I cannot trust them not to keep moving the goal posts on my retirement then I’ll stop paying so much into my pension and save to take matters into my own hands instead. Best of luck with the crashing stock markets when the people get cynical and stop funding them every month with pension payments.

  11. Wasn’t there some tory mp a couple of years ago who raised retirement ages then retired himself in his 50s with a golden goodbye?

  12. In theory with the introduction of AI such as chat GPT etc people should be working less but how else will this world have billionaires.

  13. I already know I can’t ever retire. I don’t own property and Imy work pension isn’t enough to live on based on inflation. I will work until I die.

  14. People are living longer with more chronic conditions that need treating. So that’s a bigger burden on pensions for longer, whilst having to adapt health services to an aging population.

    In its current form, it is unsustainable but the politicians are to blame. Unfortunately those retiring latest are likely to be the poorest. These problems were entirely predictable and again the government’s answer is to punish the population for their mismanagement.

  15. Can’t wait to work until 70, get cancer as inevitably happens around that age in my family, retire and then spend the few remaining years in misery!

  16. Raising retirement to 70 years will start a shit storm. Some/alot will die whilst working. There wont be a retirement. its okay for these people to say “ye sure raise retirement, raise taxes” etc etc because in reality the people who make these decisions are not affected at all by it. They retire probs esrly 50’s or mid 50’s and live off the taxpayer

  17. God damn every headline makes me wanna leave this place more and more. I wasn’t gonna do a year abroad in uni but thinking about it now just to try and get in with employers overseas

  18. Of course.

    I was thinking the other day that my mum and dad retired in their mid to late 50s. We had a big house, went on holiday regularly to America, went to university and had driving lessons all paid for us, my sisters and I. Now that they’re retired, they still have plenty of money to spend on cars, holidays, and whatever they want.

    I’ve got absolutely no chance of matching all that, of doing the same for my kids or retiring that early and having the same lifestyle, through practically no fault of my own.

  19. For al those who think that boomers had it easy watch some of this documentary from 1974.

    [https://www.youtube.com/watch?v=sW1BfWAsxHU&list=PLqfUWFjW2aFHIgfy_0MC4iopsjKb6cNIm&index=5&t=397s](https://www.youtube.com/watch?v=sW1BfWAsxHU&list=PLqfUWFjW2aFHIgfy_0MC4iopsjKb6cNIm&index=5&t=397s)

    Might give you a better idea of what life was like for working class people back then. The family in question is pretty typical for the time, I knew many people who lived like this and I grew up in a fairly wealthy area.

    The only reason (I guess) people think all pensioners are wealthy is because you never see the ones living in poverty on pension credits because they can barely afford to leave the house or they are rotting in an early grave.

  20. With the rapid increase in automation and AI technologies, it’s bold to assume people will even be able to find employment by the time they hit 65. Implementing a Universal Basic Income is going to cost even more, but without it us peasants won’t be putting any money back into the economy either.

  21. Is there anything else the people of the UK can be stripped of? Next is our dignity right? We are slowly being taken a part piece by piece of our right to live a good life by these wealthy people who think of nothing but more money and themselves. It is time drastic action was made against parliament, against these monsters!

  22. Average age increase, but value of money decrease.. I don’t see a nice way out of this without changing the whole way that money represents the scarcity of our time.

    **Boycott their imaginary made out of thin air money and replace it with our own imaginary made out of thin air money. We don’t need them. #BTC**

  23. “I think Smithers picked me because of my motivational skills. Everyone always says they have to work a lot harder when I’m around.” ~~Homer Simpson~~ Rishi Sunak

  24. Life expectancy has gone from 80.40 years at the start of the tory shitshow to 80.90 today, though back in 2013, really before their shite was just about beginning to stick, we hit an all-time high of 81.30 years. It’s gone down in the past decade. And they want us to work longer. Fucking pricks.

  25. It’s not retirement age, it’s state pension age. You can retire whenever you choose to, either before or after. It’s your future, so take ownership of it.

  26. Trust me, I’m fuxking retiring when I want.
    If they raise the pension age I’m opting out of NI. I will fund my own retirement.

  27. I just don’t get how the British have become so passive to everything the government throws at us. How on earth did we manage to colonise the largest empire ever, when we are so passive to being punched in the face by the government.

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