This is shocking. One may live longer but for many their health is after deteriorating a lot. Not everyone in this country is privileged to have private health insurance. Like everything the poorer will suffer from any increase in the pension age
by Altruistic_Ear4950
18 comments
In the interests of this era of Victorian accellerationism we seem to be experiencing, perhaps we should get rid of the pension altogether and just bring back the workhouse. *Simpler times…*
Write to your TDs if this is worrying. Don’t just ramble on Reddit.
era what else ye be at, the mother is bored shitless, no harm to have her stocking a few shelves in tesco
Not that I want this to happen, but I am planning ahead for a retirement situation where the state pension age gets ratcheted up a few years every decade, so that it’ll be over 70 by the time I actually retire. Unless something fundamentally changes in society or technology, the current pension age won’t be sustainable. I reckon in 30 to 40 years it’ll be common to have two generations of the same family retired.
Quoting another Redditor in a similar thread:
“Click bait headline.
The recommended that people can defer accessing the pension to 75 and get an enhanced rate when they do access it.”
Let’s see how many 70 year olds would be able to physically work…
The primary driver for this is poor public pension planning.
For most people, poor private pension planning isn’t great either.
We’ve been had. The economy has gotten miles richer over the last 30 years. Yet only people of a certain age seem to have benefited. Eg those who bought houses pre boom and now get to retire with that asset and state pension.
We can’t generate wealth through index fund investments like in the US with ETFs because of how it’s taxed here. All you can do is go all in on a private pension. But really only the well off can afford to put much in alongside staggering rents and saving for an unbelievably overflated house in the current market with high interests. Cost of childcare and everything else is also prohibitive.
They tell us we can’t afford to keep pensions as they are. We see this across Europe. Yet billionaires get richer on their investments. Companies gouge for their profits. Landlords and vulture funds can raise the rent. Only we have to pay for it all.
I think it’s time to stop paying into the pension so, just make the most of the savings.
Compulsory private pension plans seems to be the obvious solution.
There are loads of countries that don’t pay state pensions presumably.
I’m curious to understand people’s thoughts on wider pension reform. Personally I’d like to keep the pension as is or, at most, raise to 68. But I know it’s going to result in more taxes for people in the working age bracket. Which has to be done but I have equally seen many people baulk at the idea of having more tax. So what’s the consensus for getting around this because we know it won’t sort itself out.
Why aren’t smart economists proposing alternatives? Right now we either keep the pension age as it is and it becomes a time bomb or we increase the pension age so more people die before they get there. Why aren’t there other options?
Billions in the national surplus must mean we just need to work harder people. Work harder!
The demographics will take care of themselves iirc
These clowns need to factor in physical jobs. Always look at it from an office job point of view.
If there is eough uproar, they might only up it to 72, polititians are nice like that
How else will we manage to pay our rent?
“*They kicked away the ladder and told the rest of us, that lifes a bitch*”
When a reaction is passive the actions that play out will over time get worse.