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Retirement age

3 replies

Sweetchocolatecandy · 01/10/2021 19:33

So I’ve been looking into my pensions and I’m shocked to discover that the pension age for women is soon being raised to 68 from 66 and likewise the age to access the people’s pension is being raised to 57 from 55 in 2028. My questions are- how the hell can anyone plan for retirement when the government seem to shift the goalposts every few years and secondly why isn’t there more outrage about this? I know people are living longer but a lot of people can become quite frail in their 70’s and more likely to have health issues- in which case it gives people about 5 years- 10 years tops to enjoy their retirement (I realise this is a generalisation and not true for everyone).

How does everyone else feel about this and how are you preparing for retirement? It scares me that I might have to work until I’m 68.

OP posts:
Babyroobs · 01/10/2021 19:39

I don't worry about it. Plan as well as you can. If you are unable to work as you are too frail then you would give up work and may just have to take private pensions early or claim benefits to top you up.
I used to be a nurse and would never be able to continue into my sixties working with that level of physical activity and stress but my current job is more sedentary and less stressful. It is a job I feel I could do well into my mid sixties if I had to. My State retirement age is 67 which does seem a little daunting, but I'm not worried.

Cruiser11 · 01/10/2021 19:40

You can retire when you want but won’t get your state pension until 66/67/68 can’t access your private pension until 55/57.

Gazelda · 01/10/2021 19:45

I've known about the age i'll be eligible for a state pension for a many years. I've accepted that as a society, we can't afford to support people to retire at 60/65 who then go on to live until late 80s.

I've been fortunate to be in the position to save in readiness, as well as having paid into work pension funds since 18yo.

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