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

But people will know the cut off amounts and keep under them, people will be getting their pensions out at 57 so it's gone by the time they get state pension or just stop saving. Similar to how they do with tax cliff edges. There would be an absolute uproar from the public sector who get the best pensions.

I have definately seen an increase in much older people working where I live, particularly in supermarkets.

Yes definitely money taken for pension before employee gets it. Also employers should be paying more towards pensions.

I fully believe that the pension age will just rise until it becomes more affordable.

No government will make it means tested because no one will ever vote for that.

It will mean most people working into their 70’s probably but it wasn’t meant to last for 20 years of retirement when it was conceived

But people wouldn't be cutting back if Hey never had it in the first place because it was saved directly into a pension.

you’ve got to be realistic. Someone who is forced to contribute £80 a month with an employer matching isn’t going to have a big enough pension to live on.

unfortunately this is one area where something isn’t better than nothing.

Believe me you are going to seriously regret this decision in the future.

I think a lot of people now expect to work until they drop tbh.

For others it's just too far away to worry about when they are living hand to mouth.

Your comment is incredibly patronising.

Most people already carefully manage their finance but can't control external factors such as housing/utilities/food/transport costs.

Haven't you noticed that there is a cost of living crisis and that wages have not kept up?

I am always amazed how quickly some people love jumping in to kick people who are struggling down rather than look at the facts first and try to use a bit of common sense...

That’s the issue though - some people can’t cut back anymore than they already have. If wages covered the cost of living then you wouldn’t have universal credit top ups for people in low wage jobs.

I do not think the public information about pensions is good enough, how much people need to save where to save it that penions are like a payrise and that opting out is inadvisable
if you are self employed you must base your budget on your low income months not high income months if you can't set aside ( after expenses) approx 30% for tax and NI and 10% for pension and the remaining 60% is not enough to live on you can't afford to be self employed as it is not bringing in enough for life
this is why the hourly rate for self employed people needs to be a minimumof £20 after material costs an hour just to be equal to fultime minimum wage job
I do not think that you should be able to opt out of workplace pensions once over age 21 or it is very part time or short term ie less than 6 months
pensions should be managed under auspices of the government to ensure they are invested correctly over long term ( which pensions are ) the stock market is always ahead of inflation, so there is real growth not just keeping pace with inflation ( yes the stock market has the occasional bad year but not long term)

Also as ever we are blaming individuals without looking at the wider context- traditionally excellent pension providers - universities local authorities teaching etc have commonly downgraded benefits to new entrants, In many cases offering a basic DC scheme. This means that cohort of low earners who retired with excellent pensions fall away.

very, very few people get a good pension with a basic employer contribution, no matter how much the reasonably contribute.

secondly it’s the wider economy that’s dictating the low wages which mean people can’t afford to contribute tho the pension the do have

You can’t blame people really. The cost of living has gone through the roof and a lot of people need every spare penny to pay large mortgages or rent, large nursery bills, student loan repayments. These are all expenses that hit younger people the hardest. By the time they have anything to ‘spare’ it can be too late as compounding works best, the earlier you start.

And I’ve worked all my life albeit part time for ten years with the kids. My pension pot is a mere £30k

My kids are finding it impossible to get jobs let alone pay into a pension. Can’t even get jobs in a supermarket. It’s all very well saying ‘oh we paid in and everyone else is lazy’ lucky you that you were able to, not everyone can

I pay into the NEST pension thing through my workplace but I know it isn’t going to give me much in retirement because I’m a low earner. Unfortunately, I don’t have any more to give each month as I can only just about afford my current outgoings. I’m very likely to need support in retirement - or be homeless and starving- even though I’ve been working full time.

This is why it should be paid straight into a workplace pension at source, with no opt out. There's no choice then and you cut your cloth accordingly.

I think there needs to be a better education in schools and colleges around personal finances and managing finances, including pensions within that.

How? If you have enough in a private pension you don't need a state one.

I pay the minimum into my workplace pension because I can’t afford to pay anymore without it effecting my ability to feed my children. I’m also disabled so can only work part time so yes, I’m counting on the state pension plus the small amount I’ll get from my work one.

It’s not as simple as saying people need to prioritise paying into a pension when for many people it’s simply not possible.

Why do they get to retire? They have to keep working. It’s that simple.
In whatever capacity they can manage, topped up by universal credits if necessary but they need to be subjected to the same conditions as single mums are back to work after 12 months of giving birth

It is hardly surprising.

Many people simply don't have enough money left at the end of the month after paying extortionate rents, utility bills, transport and food costs.

We have stagnant wages and less job vacancies as well.

I am sure most people would love to be able to save for a pension but the reality is that many simply can't afford to.

If they raise it much more half of us will be dead before we claim it (although perhaps that's what they want!). They'd also have to raise the age you can claim out of work benefits and carry pip on for longer, I'm not sure it will save them money.

Pension credits will be phased out.
Jeepvtge triple lock, raise pension credit by 1% - it’s almost level pegging now, would be gone by end of this Government term, and no Government would bring it back. None.

Do you honestly think that the only purpose of work is to pay for when you stop work!

Um okay. That way I would be poorer every month just for the privilege of receiving fuck all at the end of it