Raising of the State Pension Age to 66

[GlesgaeHibby]

George Osborne has decided to make (much needed) savings by raising the state pension age to 66 for men.

Here's an idea that would have saved more money and been fairer;

Raise the state pension age to 65 for women.

Instead he has chose a policy that means women can retire 6 years earlier than men. Women, on average, live longer than men anyway, so there is absolutely no reason they can't work until 65.

More nonsense from the Tory party.

[Betty Boop]

George Osborne has decided to make (much needed) savings by raising the state pension age to 66 for men.

Here's an idea that would have saved more money and been fairer;

Raise the state pension age to 65 for women.

Instead he has chose a policy that means women can retire 6 years earlier than men. Women, on average, live longer than men anyway, so there is absolutely no reason they can't work until 65.

More nonsense from the Tory party.
Under existing legislation, women's retirement age is increased gradually from 2010 onwards, reaching 63 in 2016 and 65 in 2020.

[ancient hibee]

Anyone can retire when they want-it all depends on their financial position.Many public servants already retire at 60 on their occupational pension-this means they will have to wait longer for their OAP-not a great hardship for many-much more difficult for those really depending on it.

[Gatecrasher]

why cant woman work to the same age as men, even as they generally live longer :confused:

[Woody1985]

why cant woman work to the same age as men, even as they generally live longer :confused:

Maybe that's part of the reason they live longer (tounge in cheek). I know women generally do live longer regardless of retirement age.

TBH there's no point slating the tories for this. This was always going to happen, regardless of which party is in charge. People are living longer and putting more strain on public services.

I suspect by the time someone my age (23) gets to retire, the age will be knocked up another year or 2 on top of 66 so I wouldn't worry too much about the 66!

I think I'm going to hedge my bets and not bother with saving too much for retirement as my lifestyle will probably dictate I'll be dead before 67/68 if all of the scaremongering in this country is to be believed. :LOL:

[GlesgaeHibby]

Maybe that's part of the reason they live longer (tounge in cheek). I know women generally do live longer regardless of retirement age.

TBH there's no point slating the tories for this. This was always going to happen, regardless of which party is in charge. People are living longer and putting more strain on public services.

I suspect by the time someone my age (23) gets to retire, the age will be knocked up another year or 2 on top of 66 so I wouldn't worry too much about the 66!

I think I'm going to hedge my bets and not bother with saving too much for retirement as my lifestyle will probably dictate I'll be dead before 67/68 if all of the scaremongering in this country is to be believed. :LOL:

It's not the fact that it's 66 that annoys me. It was always going to happen, as you say, with people living longer anyway. It's the fact that there isn't equality between the sexes here. I appreciate existing legislation is in place to have equality by 2020 but when cuts are needed to save money asap the logical solution would be to pass this through asap.

[Betty Boop]

LMAO at all the whingeing men! Women do unpaid house work, are often carers for elderly relatives and children. Do you want women to work till they drop? :greengrin

[IWasThere2016]

Anyone can retire when they want-it all depends on their financial position.Many public servants already retire at 60 on their occupational pension-this means they will have to wait longer for their OAP-not a great hardship for many-much more difficult for those really depending on it.

I will retire on a final salary pension - and near the maximum % level also. It is invaluable today given market issues of last few years. I will be entitled to a state pension - point being I doubt I'll need it. So, I entirely agree with your points and given the pensions deficits in many Public Sector (PS) schemes there should be means testing to establish need - and then entitlement - or indeed the removal of the right asap to both PS and state pensions.

And there is no need for the gender differential either .. I suspect the male % of the workforce makes it generate greater savings though.

[Killiehibbie]

LMAO at all the whingeing men! Women do unpaid house work, are often carers for elderly relatives and children. Do you want women to work till they drop? :greengrin

The government would like everybody to work until they drop saving them a fortune in pensions. When state pensions were introduced the average Scotsman didn't live that long. If it was being introduced now the retirement age would probably be 92 or something.

[Jack]

I will retire on a final salary pension - and near the maximum % level also. It is invaluable today given market issues of last few years. I will be entitled to a state pension - point being I doubt I'll need it. So, I entirely agree with your points and given the pensions deficits in many Public Sector (PS) schemes there should be means testing to establish need - and then entitlement - or indeed the removal of the right asap to both PS and state pensions.

And there is no need for the gender differential either .. I suspect the male % of the workforce makes it generate greater savings though.

I’m even luckier than you and if I don’t die before, I will retire on a full public services pension :woohoo:.

To be fair though most public servants retire with less than 14 years service which provides a pension of around 1/6th of what they were earning which, for most, is below the average wage.

The myth about gold plated PS pensions and how we all retire to a life of luxury is just that, except us :greengrin. Too many civil servants go from paying poverty type benefits to receiving them.

I’ve just got my pension statement and TBH canny f’n wait to go!!!!

And having worked, paid taxes and NI for more than 40 years I think I fully deserve a full, un means tested, old age pension!

[steakbake]

65 or 66, doesnt make too much of a difference in the greater scheme of things.

[Peevemor]

65 or 66, doesnt make too much of a difference in the greater scheme of things.

If everyone takes that attitude, then it'll be raised again from 66 to 67, then 68 ....

[Betty Boop]

65 or 66, doesnt make too much of a difference in the greater scheme of things.

So true. :greengrin

[Phil D. Rolls]

Under existing legislation, women's retirement age is increased gradually from 2010 onwards, reaching 63 in 2016 and 65 in 2020.

What a triumph for feminism that was. :greengrin


LMAO at all the whingeing men! Women do unpaid house work, are often carers for elderly relatives and children. Do you want women to work till they drop? :greengrin

All I said was, "that Halibut was fit for Jehova".

I didn't hear any complaints on the Titanic when they said "women and children first". :greengrin (I wasn't on the Titanic).

On the pensions thing, I genuinely believe that I won't ever fully retire. I have a final salary scheme from a previous job, and hopefully a NHS final salary scheme to look forward to.

The way I see it though, they can change lifelong commitments at a drop of a hat and I wouldn't be surprised if I don't see a penny of the pension benefits I've accrued.

---------- Post added at 02:37 PM ---------- Previous post was at 02:36 PM ----------


65 or 66, doesnt make too much of a difference in the greater scheme of things.

When you've only got a few years left, every one would be precious I think.

[steakbake]

If everyone takes that attitude, then it'll be raised again from 66 to 67, then 68 ....

Well, an example close to home. I know quite a number of newly retired people. In saying that, I mean people who have given up their main job/career/sold business etc. Very few of them have fully retired - most have part time jobs to keep them going.

The nature of work is changing, 65-66 isn't a big jump at all. I'm half that age but have pretty much resigned myself to the fact that barring a good appointment on a top salary in the next 10 years or so or winning the lottery, this is me for the best part of the next 40 years.

There comes a point really, where the people have to man up and realise that life has changed since the post war welfare settlement and will continue to change.

1908 - Old Age Pensions Act meant you would get your retirement money at age 70.

1946 - National Insurance Act brought in 65 for men, 60 for women.

I think it can rise in line with the general rise in life expectancy. If you want to retire earlier, get busy saving and don't rely on a meagre state pension.

[ancient hibee]

I will retire on a final salary pension - and near the maximum % level also. It is invaluable today given market issues of last few years. I will be entitled to a state pension - point being I doubt I'll need it. So, I entirely agree with your points and given the pensions deficits in many Public Sector (PS) schemes there should be means testing to establish need - and then entitlement - or indeed the removal of the right asap to both PS and state pensions.

And there is no need for the gender differential either .. I suspect the male % of the workforce makes it generate greater savings though.
My occupational pension kicked in at 60 but there was a clawback of a percentage of the OAP when I reached 65-in other words a reduction in the amount coming out of the employers pension fund-in effect a tax payers subsidy to the fund.

[lapsedhibee]

The way I see it though, they can change lifelong commitments at a drop of a hat and I wouldn't be surprised if I don't see a penny of the pension benefits I've accrued.


There comes a point really, where the people have to man up and realise that life has changed since the post war welfare settlement and will continue to change.

:agree:

Lot of :ostrich:ing going on with regard to security of pension provision, public and private sector.

[Onceinawhile]

why aren't women's rights activists campaigning to have this injustice equalised??

what's that? because it doesn't benefit you, ok then.

[Lucius Apuleius]

Again, I have been fortunate. I actually started taking one of my pensions when I was 50 as it only rose at the inflation rate and I reckoned I could earn more money from it by investments. Still got a final salary from a previous employment plus three other pensions to come on top of the state one. None of them will be big, but all should ensure an adequate supply of Guinness and my annual green fees. I actually pump lots into the missus's (ooeerr, she wishes!!!) pension now to bring her up. The government gives you lots of money when you do that.

[Hibbyradge]

And having worked, paid taxes and NI for more than 40 years I think I fully deserve a full, un means tested, old age pension!

You started work aged 11? :shocked:

[Betty Boop]

why aren't women's rights activists campaigning to have this injustice equalised??

what's that? because it doesn't benefit you, ok then.

Women save the government millions in unpaid care work. I don't see many men acknowledging that. Why would that be? :greengrin

[Jack]

You started work aged 11? :shocked:

It sometimes feels like it Hibbyradge! However no!

I will retire :blah: i.e. it’s a few years off yet but by the time I reach 60 I will have worked for more than 43 years, no employment breaks other than the weekend when I left the company I joined when I left school to start work with my current employer, 11,848 days ago!
[Jeez, come to think of it I left school, Leithy, on the Friday and started work on the Monday too!!]

I’ve just got my pension statement :blah: i.e. just a statement of what its likely to be when I do go.

[steakbake]

Women save the government millions in unpaid care work. I don't see many men acknowledging that. Why would that be? :greengrin

Because we're all in it together? :wink:

Sorry, Tory Boy George's speech is still stuck in my mind.

[Jack]

Having considered this age of retirement thing a wee bit further I’m thinking how much more beneficial it would be all round if ladies were to work longer, even longer than men.

As has already been mentioned ladies live [much] longer than us menfolk anyway.

Because ladies take time out for child bearing purposes their contribution to their employers pension schemes and government schemes is less than us menfolk and that means they receive smaller pensions at the end of the day. You put less in you get less out, simples!

If it were ladies who were to work that extra 5 years LONGER they would still probably have more retirement years than us mere men. But probably more importantly having built up more time and contributions to their pensions, both State and company, would mean more pension and less reliance on us men and other State handouts.



I’ve considered even further and this really is the way to go. Just think guys there would be that 5 years after all your hard graft, before the wife retires, where you could swan off and play bowls, golf, scratch your bum or whatever, every work day in peaceful tranquillity. By the time she comes back from work, all exhausted, she’ll be too tired, and busy making the tea, to nag you for not doing the decorating. :greengrin

[Lucius Apuleius]

Having considered this age of retirement thing a wee bit further I’m thinking how much more beneficial it would be all round if ladies were to work longer, even longer than men.

As has already been mentioned ladies live [much] longer than us menfolk anyway.

Because ladies take time out for child bearing purposes their contribution to their employers pension schemes and government schemes is less than us menfolk and that means they receive smaller pensions at the end of the day. You put less in you get less out, simples!

If it were ladies who were to work that extra 5 years LONGER they would still probably have more retirement years than us mere men. But probably more importantly having built up more time and contributions to their pensions, both State and company, would mean more pension and less reliance on us men and other State handouts.



I’ve considered even further and this really is the way to go. Just think guys there would be that 5 years after all your hard graft, before the wife retires, where you could swan off and play bowls, golf, scratch your bum or whatever, every work day in peaceful tranquillity. By the time she comes back from work, all exhausted, she’ll be too tired, and busy making the tea, to nag you for not doing the decorating. :greengrin

I'm with you brother. (power to the people, men's lib smiley)

[givescotlandfreedom]

How about Dave and stops his mega rich Tory chums from committing the £25bn worth of tax evasion each year would that not free up a bob or two? He's much happier halting pay increases for lower paid staff and working the poorer into the ground. Cameron's a rat.

[ancient hibee]

How about Dave and stops his mega rich Tory chums from committing the £25bn worth of tax evasion each year would that not free up a bob or two? He's much happier halting pay increases for lower paid staff and working the poorer into the ground. Cameron's a rat.
How about Gordon Brown(who actually has the power)does something about it.Now he really is a rat.

[givescotlandfreedom]

How about Gordon Brown(who actually has the power)does something about it.Now he really is a rat.

Brown is a rat but he's not the one proposing the pension age to rise to 66.

[Woody1985]

Brown is a rat but he's not the one proposing the pension age to rise to 66.

I believe he is, just in 2026. That'll be brought forward anyway if they get elected.

[Beefster]

Brown is a rat but he's not the one proposing the pension age to rise to 66.


I believe he is, just in 2026. That'll be brought forward anyway if they get elected.

The Labour government have already put legislation in place that means the state pension age will rise to 68.

You can even depress yourself by calculating your date of retirement here:

http://pensions.direct.gov.uk/en/state-pension-age-calculator/home.asp

[I'm_cabbaged]

The Labour government have already put legislation in place that means the state pension age will rise to 68.

You can even depress yourself by calculating your date of retirement here:

http://pensions.direct.gov.uk/en/state-pension-age-calculator/home.asp


Only 27 years, 1 month and 19 days to go then. :greengrin