Over 50 and not working by choice. Would a ‘mid-life MOT’ tempt you back?

[PuzzledObserver]

www.bbc.co.uk/news/business-64083802

The phrase “not on your nelly” comes to mind.

There are reasons - good ones - why I retired early. They still apply, I’m not bored, I don’t feel my life lacks meaning, and finances are OK. So I’m finding difficult to think of a reason to rejoin the workforce.

How about you?

1. For all my adult life it's been, "Unemployment is bad mmmkay", NOW it's easier to get jobs and it's bad? Make your minds up guys!

2. The bits of the job I did will have been picked up by my various (mostly slightly less senior) colleagues, adding to their experience and knowledge, and creating space below them for new juniors to come in & start climbing the career ladder. THIS IS NORMAL. More promotions all round, no?

3. who brought in the new pension freedoms again?

4. I saved my money, I have enough, I am keeping the economy going by spending it (sensibly) now. Again, do the Powers That Be have a problem with that?

@SerendipityJane Great post !

The government can take their patronising attitude and shove it. We both retired early - husband in mid 50's and me at just over 60. Of course we worked out our finances and knew whether we could afford to retire or not. Nothing would persuade us out of retirement back into hellish public sector employment- I'd much rather spend my time with my toddler grandson than go back into teaching.

Why?
Lots of people have taken out their private pension pots to Iive on until state pension age. The Conservative government loosened the rules so this was possible. Why should people not do this?

Societal duty?

When the very wealthy really contribute instead of asking a homeless man if he'd like to get into business ...then i'll look at societal values.

My pension pot to do with what i like & next year when i take it i will spend it... people do not realise (on average) how short a period of time of active life they have once past 60.

Or as the saying goes "its later than you think"

TollgateDebs "Those that should be working range from 16+ to retirement age and this focus on age, is, imo, about addressing skill shortages imo"

the idea of working till retirement has always been awful. Great if you like your work. I always planned to give up at 50. If I can, I will. I am already sick to death of the endless technology.

I'm interested to know what skills they are seeking from this age group. I'm aware there's a shortage of essential workers like carers, but somehow I think they are looking for something else.

Societal duty

Er, these are the Tories, whose disdain for "society" has been crystal clear since forever. To them, "society" means you work:they play.

I note the "?" after your comment which is a great indicator as the current situation with the social contract that exists between citizen (well, in the UK that is subject) and state. Because over the decades as a society we have given up fucktonnes of freedoms in return for the square root of fuck all.

Fuck no.

Why would l go back to:

Complete disregard for age, and the expectation that a 55 year old has the energy and enthusiasm as a 25 year old.

Peopke 20 years younger than me trying to tell me how to do the job I’d been doing for 20 odd years.

Ridiculous performance management and punitive sickness policies that subject older people to unfair treatment.

The belief that youth is everything in employmenr.

No understanding of menopause in the workplace, and being expected to just get on with it, when it gives you paralysing anxiety and you can’t take HRT.

Wantibg less stress at work as you get older not to be viewed as giving up

Blatant ageism that manages 50+ out of the workplace.

Why the fuck would anyone want to go back to that? They need to make the workplace less ageist, less backstabby, less pressurised to encourage any right minded 50+ back.

John Lewis lost all theirs due to Covid, as did a lot of teachers. II was a teacher, why would l believe the government lies about children not spreading it?!

Most people who "retire" are still working PT at least.
I wonder how many of the > 50s who are down as 'out of workplace' are truly earning nothing.

Someone I know said she was retiring to look after her parents, but I keep seeing her name in paid & unpaid roles.

I can't think of anyone who has truly retired in last 18m except my (now) 80yo dad. To contrary, i know several people who were planning to retire ~2 years ago but are reinvigorated with work, sometimes more work than they were doing for many years before.

Whereas another 2 I know signed off for the last time tjhis week just gone

The bits of the job I did will have been picked up by my various (mostly slightly less senior) colleagues, adding to their experience and knowledge, and creating space below them for new juniors to come in & start climbing the career ladder. THIS IS NORMAL. More promotions all round, no?

well as long as proper promotions ARE created, and the extra workload not simply dumped onto your colleagues that at left, as I’ve seen happen so many times in the public sector. Especially if a post is vacant for a while and people are considered to be “managing” the extra. That’s when it becomes the status quo and people’s workloads become unmanageable. And what happens then? People want to retire early as they can’t manage the workload anymore without giving themselves a heart attack.

The thought of never again having to do e-learning, team building or having to learn yet another IT system that never works properly is what would keep me from ever going back into the workplace.

When I retired 3 years ago, I retired for good and it's fab!

Lots of people have taken out their private pension pots to Iive on until state pension age. The Conservative government loosened the rules so this was possible. Why should people not do this?

but you know what’s coming - they are already talking about taking the state pension off people if they have a certain amount in their private pension. so what we’ll get is a two tier system where very high earners will pay into a private pension and retire early when they want to (but get no state pension), and people on lower pay will have no choice but to pay into the state pension for the max amount of years.

Most people who are retiring early already have saved their full years into the state pension

And if they are going to change the rules and not let you have what you contributed and saved for , then more people will spend rather than save a pension - retire early using savings and not bother with a private pension at all

Which will mean the state paying more pension credit as well

People with mentally tough jobs have a lower dementia risk

Well, there’s nothing as mentally tough as teaching. It pushed me over the edge. So I’m not sure how that lowers dementia..

The problem with that is the older are far more politically motivated to vote - and will.

God help the party that has "fuck the pensioners" as their manifesto pledge (not that manifestos mean anything anyway). That's why there's been a ramping up of the hysteria over early retirees. To bully the electorate into backing a "bash a retiree" drive.

I would almost feel sorry for anyone in government at the moment. Low and unskilled at the younger end of the workforce, and savvy and fucking off at the other. Until I remember that is the result of 2 generations of Tory governments with just enough of a Labour filling to have charged the middle to retire early.

l think they just won’t dare do this.

If we paid NI for pensions and the nhs and we get fuck all. Are they going to stop us laying NI?

Worth noting that politicians despise "people of independent means". (Look how "nouveau riche" is an insult). Because they are very hard to bully.

I’m 55 and a few of my friends have retired. They mainly have final salary pension schemes and either worked for the NHS, taught or worked in pensions and life assurance. Final salary pension schemes usually increase with inflation, so the cost of living crisis won’t affect them as badly. Unfortunately I don’t have much in the way of final salary pension and most of mine is defined contribution. I will probably have to continue working until I can claim my state pension at 67.

Which means it makes even more sense financially to cash in any private pension and retire early, knowing you will get a state pension at 67/68 when you have spent your private pension.
I intend to work till 67. If it looked like this would happen I would cash in my private pension and go part time.

I know people who have retired properly early. They might volunteer, but no paid work at all.

I was made redundant 2 years ago aged 49. I am now semi retired. I now have around 5 paid jobs. But I have full control on when I choose to work. I don't earn enough to pay any tax or NI so obviously the government don't like me!

I’m retired and earn nothing.

Had enough of pointless, shit work conditions.

Performance Management🤮
Strategic targets🤮
Presenteeism🤮
Brown nosing🤮
Back stabbing🤮
Being managed by 28 year olds🤮
Diversity meaning one disabled young white person🤮
Shit conditions and wages🤮

Why would l work?

@ SerendipityJaneI was thinking this earlier this week when the report first surfaced and agree that early retirees will be cast the new villains. Two other things will happen, a pop at them for clogging up big houses and criticism of them leeching off the state now that they aren't making NI contributions.

By the way, I'm not here to argue the toss about whether or not they should be paying NI.

I'm retired, I pay tax. Soon I'll need to employ people to do the things I used to do myself, like decorating and window/ gutter cleaning. Eventually I'll need someone to cut my nails, the nail bars here rely on elderly people. This country's economy relies on people like me funding younger people.

What the government wants is to force back into work those out of employment because of long covid or while they wait for the NHS treatment that would make them fit for work. If thy would go back to recommending masks the NHS would be better able to cope.

If there was a job here I could do I'd quite like to return to paid work part time - but age discrimination would prevent me getting the type of work my qualifications and experience merit. Experience is no longer valued, especially if you are female. I'm not going to do low paid work, not least because it would be too physically demanding.