45% of working age people not saving toward a pension at all

Oh, you missed the thread we had the other night.
Someone suggested finding work that provides accommodation too, such as some hotel work or on a farm. They seemed to think it was a suitable suggestion even if you had had 3 kids in tow too. Or sofa surfing... with kids.

Indeed. Up to 20% of young people 18-24 are not in education, work or training, and are already on benefits.

Goodness I would hope not. Uc should not be available for someone to pay rent on an property to live in alone when they could share with others. I think there are already age restrictions on this in place.

Because shared housing isn't appropriate for everyone
Because circumstances change
Because moving areas if you were born in an expensive area again costs money

etc

It might be the best thing you can do for your child, but when they need to learn to drive to be able to get a job, so you save for their driving lessons, then the car, then comes the car insurance which even a working teenager would struggle to pay on their own.....then the money saved to help towards a house deposit.....most people struggle to do this for their children let alone pay into a pension for when they are 60+!

There's no way a pension should take priority over driving and getting on the housing ladder....

I would hate to see my children struggling and unable to contribute to a pension once they begin working life. But I guess they made their choices. So difficult to save while paying rent too. It’s a shame you couldn’t have postponed downsizing until they were financially stable.

That's not quite right that figure is of people 'available for work'.
Those is groups with no capacity for work or low capacity for work and on disability benefits for eg aren't counted, nor are adults studying full time.

This worries me as it must become means tested surely.

I am debating adding to the pension contributions for my 18 years who works one day a week at a part time job I can pay £600 to top it up and give her a year in national pension however she is likely to be a big earner so I wonder if it is worth it. If she wasn’t I would offer to top it up willingly. I retire in 2 years (early) and get state pension in 12 but I think they will take it away by then ! Argh

But if we're being told a workplace pension isn't enough and (some) people in employment can't afford to save into a private one as well, what is the answer?

This, coupled with increasing numbers of people who will still be paying off a mortgage/renting when they retire.

Sadly the people who make/implement the law in this country tend to be on final salary pension schemes, so don’t really care.

Ain't that the truth.

But none of these are arguments for not doing anything about the looming catastrophe of pensioner poverty.

Why would you move into an expensive property in the first place though? Tbh some people just aren’t very clever.

No.

Then their NI record will pay out accordingly

If rent is a struggle could they not move home for a few years and save ? So many young adults moving out of home too soon without the means to financially support themselves properly. Are they in a house share or living alone?
One lives far away, the other highly values their independence and there is not room for them at ours (we downsize).

I think it is very important that young people are independent as young as possible. They can afford all the essentials, just very few luxuries and limited chance to save. However, they will go up the ladder and hopefully will be in a much better position in 5 and 10 years time.

The difference is that when you are retired you have no options to improve your situation. The effect is permanent.

I dont think you meant to quote me

You might have to lower your expectations
https://share.google/xTh2pmQUktl3SEvoY

Market conditions would force your rent down though by £80 if you simply did not have it and you had no option to pay it then best case scenario is that the rents aren’t gonna go up? Best best best scenario is that the rents come down because the money just isn’t freely available in the system.
Have a look at what Andy 🐝 Burnage is planning to do in Manchester

But when you start out earning minimum sharing with 4 mates, having fun in the evenings, falling in and out of love, sharing your skint 20s together, getting experience, living with friends not parents

oh the beautiful 20s of life

you only get that decade to be truly free

it’s fine sharing a house then, it’s fun, full of stories, memories and growing up.

better than being stuck in your childhood bedroom watching tv still with your parents

Pensioners as a group are expected to rise by nearly two million in the next decade and the numbers will rise for at least the next 30 years, which really shocked me, it’s clearly the biggest problem the country faces funding wise, both with pensions and healthcare.
No party has any idea how to deal with it, immigration won’t solve it because billions of pounds are being siphoned out of the UK annually by migrants to family back ‘home’ rather than being spent in our economy.
Low earners who will be in rented housing for life are actually penalised for having a small pension when they retire due to the cliff edge nature of benefits. £5 a week over the limit can mean losing £80 or more a week in reality, I know because it happened to my Sister when she started receiving a small annuity, getting £60 a month meant that she was liable for full rent at £120 a week and she was almost evicted before becoming disabled enough for PiP and full HB.