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

Some people barely earn enough to pay the bills. How are they meant to save for a pension too?

That's a bit snide. My grandparents were the silent generation, born in the 1910-20. My in laws were born in 1929 and 1930. My DM was born in 1935. They are all dead now, except my dad who is 92 and does not remember anything about his first family. I'm his oldest child, and he thinks I'm his younger sister. But he also thinks his wife of almost 50 years is his daughter. Dementia is very cruel.

That's a bit snide. My grandparents were the silent generation, born in the 1910-20. My in laws were born in 1929 and 1930. My DM was born in 1935. They are all dead now, except my dad who is 92 and does not remember anything about his first family. I'm his oldest child, and he thinks I'm his younger sister. But he also thinks his wife of almost 50 years is his daughter. Dementia is very cruel.

Silent generation. They had integrity.

Completely different to current retirees of whom the vast majority are Boomers and did not live through the second world war and instead lived through the longest period of prosperity and peace that any generation has experienced to date.

Aye, so they are silent generation, not boomers.

No, but there are ever increasing numbers of people either taking early retirement from occupational pension schemes (or personal pension plans) or simply opting out of work and living on savings (or inheritances or a partner) for the intervening years until state pension age.

By "opting out", they're not paying income tax/NIC on wages, and not contributing to the economy via work productivity etc thus contributing to the stagnant/falling GDP. In the case of certain professions/occupations such as within the NHS there is the knock on effect of causing staff shortages and thus delaying services, i.e. increasing NHS waiting lists etc., which in turn means more people unable to work etc.

@DrRylandGrace I have had friends over for lunch this afternoon, so I have been battering the pots and pans instead of following the thread as attentively as it deserves. And this thread is really deserving of close attention. MN is my only social media addiction, and I am only really interested in public policy and fashion. I read your post quickly this evening, and would like to give it more time and thought before replying.

I dont care about your parents 🤷‍♀️

I really don't care. I am looking after my kid. Your child is your responsibility. Frankly, I want my DC to have a secure home that no one can take away. DC has skills and talents that will provide a living but perhaps not enough to pay rent too.

There is nothing good to be said about them.

Not content with out earning their parents and stealing all the council housing for a lower than market price (right to buy), selling council housing to private landlords, preventing new housing being built and buying investment properties for their own greed, they now have forced the government to subsidise them as by far the richest demographic in the country through triple lock (BTW, when the news talks about rising welfare bill, this is the vast majority of it) at the expense of everyone else, most of all young people thru student loan interest another con. I really hope enough young people leave the country to teach them a lesson. For many it will be the only way to avoid poverty. I (35) will never see state pension. Of course young people are to blame as well for not voting. Vicious boomers + apathetic, useless milennials = social collapse.

They're collapsing society thru their greed as nobody affording a house = nobody having children.

It's a shame COVID killed all the old people born before the war, who were miles better; knew the value of duty, sacrifice, and working on behalf of others.

Although from what I hear statistically, the boomers don't take care of their health very well, and are actually dying sooner than the prewar born generations. Maybe once their assets pass thru inheritance that will be many people's retirement plans?

For the record before ppl come at me this is about groups not individuals. My parents are boomers and I love them to bits and I love many boomers in my life... But the collective political behaviour of that group is one of a vicious, selfish, spoiled teenager who's never been told no.

Apologies, @DrRylandGrace. Poorly judged, and a badly worded comment. You have not said anything I disagree with. But you are right: dementia is horrible.

That's a bit snide. My grandparents were the silent generation, born in the 1910-20. My in laws were born in 1929 and 1930. My DM was born in 1935. They are all dead now, except my dad who is 92 and does not remember anything about his first family. I'm his oldest child, and he thinks I'm his younger sister. But he also thinks his wife of almost 50 years is his daughter. Dementia is very cruel.

That's a bit snide. My grandparents were the silent generation, born in the 1910-20. My in laws were born in 1929 and 1930. My DM was born in 1935. They are all dead now, except my dad who is 92 and does not remember anything about his first family. I'm his oldest child, and he thinks I'm his younger sister. But he also thinks his wife of almost 50 years is his daughter. Dementia is very cruel.

Silent generation. They had integrity.

Completely different to current retirees of whom the vast majority are Boomers and did not live through the second world war and instead lived through the longest period of prosperity and peace that any generation has experienced to date.

So then again, you’re going to cause an enormous divide again - between those whose parents are actually decent human beings and pay forward the inheritance probably like we did in the Victorian times consider the money to be family money that needs to stay in the family
Versus those who don’t
And if you’re in one of those families who feel absolutely no moral obligation to forward the money that our grandparents actually really did work their fingers to the Bone for, then those young people are going to be screwed.

No they both went through the war as children. I wasn't a teenage pregnancy baby. My parents were married when they had me but they had three of us when my mum was 22 and my dad was 23.

Define "rich"? Lots of pretty normal people take early retirement from private pensions, occupational pensions or public sector pensions. It's certainly not the preserve of the "rich" when people such as police, firemen, nurses, council bin-men, teachers, etc retire many years before state pension age.

Define "rich"? Lots of pretty normal people take early retirement from private pensions, occupational pensions or public sector pensions. It's certainly not the preserve of the "rich" when people such as police, firemen, nurses, council bin-men, teachers, etc retire many years before state pension age.

Do you seriously think a healthy society people's finances are based on parental donations not their own work

If this is the case why work at all, live on UC, your parents money will always dwarf yours so why not. And their gifts exceed your salary lost SLC repayment so why not!

You just look worse.

Frankly, I think boomers like it this way because it makes them powerful, and they have sovereignty over their adult children's futures not whoever they're working for

Rich people taking our their private pensions before state pension age.