Review of the state pension age.

Discussion in 'Bulletin Board' started by redrum, Jul 22, 2025 at 9:38 AM.

  1. red

    redrum Well-Known Member

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  2. dreamboy3000

    dreamboy3000 Well-Known Member

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  3. red

    redrum Well-Known Member

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  4. Tyk

    Tyketical Masterstroke Well-Known Member

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    On the upside though the NHS is so abysmal that life expectancy will be down a fair bit by the time the review's done...
     
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  5. Dan

    DannyWilsonLovechild Well-Known Member

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    People living longer, population getting older, people retiring earlier, people putting less away in their pensions.

    Pretty obvious result, no?
     
  6. red

    redrum Well-Known Member

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    People are skint getting taxed to death, inflation up, mortgages and rent high. How are they expecting people to save for retirement.
     
  7. red

    red24/7 Well-Known Member

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    You will literally work till you die,what a prospect
     
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  8. Dan

    DannyWilsonLovechild Well-Known Member

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    You used to die before you retired. Progress.
     
  9. Dwr

    Dwrawa Well-Known Member

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    It certainly wont be to reduce it and for the youngest generation is likely to be a shadow of its former self when they get to that age - thats why I pay into a pension for my youngest.
    What makes me laugh though is that its always about employers possibly paying more in - private sector getting clobbered again, and yet another higher business cost. It always seems to be off the table about public sector pensions and the amount the tax payer contributes on behalf of the public sector worker - which is generally around 2.5-3 times the contribution of the employee - plus the gold plated nature of the many public sector schemes where fund performance is not even a factor for the employee.
    By making public sector defined contribution and trimming down the amount that goes in from the public sector employer (tax payers money), then you could save billions each year
     
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  10. AthersleyRed

    AthersleyRed Well-Known Member

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    The Torygraph jumping the gun again saying 'workers forced to work longer' before the review is disclosed.

    If they do increase the age, however, my already dwindling support for this government will disappear
     
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  11. troff

    troff Well-Known Member

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    By the same argument if people have no retirement funds of their own and need state pension to be enough to help them live, how is a government to afford to do that from the age of 65 or earlier (if they were to bring it down) as opposed to the current 67 (and likely later age after the review)?

    People are living much longer - when the pension was brought in it wasn’t designed to be paid for ten, twenty, even thirty years. A few at best.

    Something has to give. You can’t moan about all of tax increases, cost of living increases, inflation and not bringing retirement age down - when we have an aging population.

    We also have a deficit of working age tax payers which will only get worse due to declining birth rates meaning the tax income to cover retirees is shrinking year on year.

    There is a way to address this without increasing birth rates - but I suspect you wouldn’t be happy with that either…

    I’m 42. I have little to nothing aside for retirement, certainly no pension. Working in the manner I have as an umbrella company paid contractor the pensions are awful and non-contributing (I’d have to find the employers contribution myself, just like I have to pay the employers NI). I am reliant on property value increase, state pension, my wife’s private pension and, sadly but inevitably, inheritance. Plus, given my worsening mobility - perhaps whatever the equivalent of PIP is in the future (I could likely, but don’t, claim now).

    I would benefit hugely from retirement age staying at 67, coming down to 65, whatever.

    That doesn’t mean I’m not aware of how that is a practical impossibility - it is neither feasible or reasonable to expect to be state funded if in good general health and an average of fifteen to twenty years left to live; often more.

    I reckon I have at least thirty more years to work. I’d be amazed if by the time I get there retirement age won’t be over 70, so 72 seems a decent bet.

    I don’t want to work that long; I might well not live that long, even if I do I might not be medically capable of doing so - but reality is reality.

    The declining birth rate means there will be less pensioners eventually - so it isn’t necessarily a permanent issue - but there is an upcoming deficit and it’s pointless thinking there isn’t.
     
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  12. Dan

    DannyWilsonLovechild Well-Known Member

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    The Daily Heil and the ever more wicked Express have gone full on support of their Fuhrer. The torygraph almost looks moderate in comparison. Which of course is a very big problem given how right leaning it is.
     
  13. Che

    Chef Tyke Well-Known Member

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    Seeks a bit futile to even think about retirement.

    My view may change as I get older but I’m not convinced it would be a good idea for me anyway.l enjoy my job and it keeps my brain active so why stop?
     
  14. red

    redrum Well-Known Member

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    Torygraph, the 2 articles quotes were from the mirror and sky news.
     
  15. Dja

    Django Well-Known Member

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    Surely people are putting more into their pensions with auto enrolment.
     
  16. Abruzzo Red

    Abruzzo Red Well-Known Member

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    The review isn’t due to be concluded until 2029, the media have definitely gone early
     
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  17. Dan

    DannyWilsonLovechild Well-Known Member

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    The suggestion from government messaging is large numbers aren't putting anything away at all. If that's the case, auto enrolment isn't working and being opted out of, or it doesn't extend it's scope wide enough.
     
  18. Dwr

    Dwrawa Well-Known Member

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    The state retirement age is only going one way - and that is up.

    Going back around 40 years ago, for every 20 workers there was 1 state pension being claimed. That figure today is for every 3 workers there is 1 claiming state pension, not to mention the situation with benefits.

    The moral of the story is , wherever it's feasible , pay into a pension!
     
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  19. red

    redrum Well-Known Member

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    I thought they said 80% of self employed were putting nothing away? Never saw figures for employed.
     
  20. Dan

    DannyWilsonLovechild Well-Known Member

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    A very quick and dirty Google, 40 year intervals.

    2025 UK life expectancy. 81.55

    1985 UK life expectancy. 74.65

    1945 UK life expectancy. 64.01
     

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