Retirement for those born after 1970 is likely to rise to 71 in the future

[Tiddlywinkly]

This Guardian article was a tad depressing to read:https://amp.theguardian.com/money/2024/feb/05/uk-state-pension-age-will-soon-need-to-rise-to-71-say-experts

I fully acknowledge that we are living longer, are having less children etc, but for many, our health might not be up to working for that long. There'll also be a knock on effect as to how much we'll be available for helping with grandkids/ very elderly parents.

I just wondered what other people thought?

SquirrelSoShiny · Today 12:39

The goal is that we work until death in a nutshell. Average life expectancy is on a downward trajectory too. The Gov are loving it. No more pensioners to fund for 30 years!

..............:

Basically, yes
That is just beyond any normality in recorded history, what described seriously old people to be expected to be doing

@Twadelling so people born in 1970 are not 54 years old. If a woman they will have started their working life expecting to retire at 60. They have already had to add extra years in, and now have to add in an extra 4 years?
Pensions are long term planning, but the goalposts keep changing.
Anyway a lot of people will be too ill.
A man in Englands average healthy life expectancy is only 63.1 years.
And forget about grandmothers doing childcare, they will be working.

I agree, and it is also harder for many in their 60s to keep up with learning the constantly changing software, legislation etc.

However, when I worked in a job where I spent all day on my feet, and did heavy lifting (at 59/60) I no longer suffered from the back problems I had experienced since I was in my 20s from sitting at a desk all day!

Fuck. I watch retirees I know and am absolutely sure I will never be able to have the lovely lives they have as 1. I wont be able to afford it and 2. I will be too old by the time I retire to do any of the things that require energy.

It’s not surprising really is it? A lot of us will live to 100 so pensions have to push back to account for longer lifespans. It’s getting unsustainable as it is and tbh I would be surprised if there is anything of a state pension by the time I get to retirement age. Private pensions and save at least 10% of income from your first wage packet will have to be the norm.

I can find 100 of ways to be active and productive but not tied to a job.
I want the flexibility to travel as and when I want not limited to 5 fecking weeks holiday a year and then die.

And then they'll bring in euthanasia after the boomers die and the plan will be complete

Of course they can. It was changed for WASPI women some of whom were within a couple of years of when they thought they were going to retire. The bastards hit them twice - once in 1996 and then again in 2011.

Same.

I do wonder about these people who cannot occupy themselves without work. There's a big old world out there. Surely they must be able to see that.

Oh dear, this is so depressing. It really makes me feel like crying. I've been teaching for 20 years, and my pension is only something like £9000 a year on retirement at the minute. I'm not sure where I've gone wrong and I don't feel like I can save much more. And worse than that, I find the job incredible stressful and only stay for the pension. I am wasting my life being unhappy now because I daren't give up the future pension, but I won't be able to retire anyway.

What also worries me is the people who just seem to accept it and say it has to be like that. I feel like if this came in, people wouldn't even complain much. But how will we live? What will happen to people who are too old and inform to do their jobs, and too poor to retire? I think maybe euthanasia will be the only option for me, but it makes me feel sad about the time with my family I'll miss.

Unsure how I’m going to bandage peoples legs on my knees or even on a stool at 71 but hey ho, the people who’s legs I’m doing will probably be younger than me 😂😂hopefully I’ll have saved enough into my pension pot I can drop my hours

Stay in your private pension! many other benefits to a pension such as death in service lump sum and spouse pension when you die! It’s essentially a life insurance for your loved ones if you yourself never even draw it.

Absolutely!

Yeah and I can explore the world and still do some part time work if I want to. And that work could be voluntary work helping other people which brings other satisfaction in a life.

Or maybe I love dogs but don't want to own one cos its too expensive especially if i wsnt to travel, so if I help out once or twice a week at a dogs home to fulfil that what's it to anyone?

Maybe open your mind about what that work could be and what other meaning and value it has to do

True, life expectancy was shocking back then. However it doesn’t account for all of the rise. In the early 1900s, a man who made it to age 60 could expect to live, on average, for around 14 years. Today, a man who lives to 70 can expect to live for about 15 years. (For women the figures are 15 years then and 17 years now).

Should we expect it to be “better” now than then? Why? It’s not something we’ve been happy about trying to fund. We have known for 40+ years that the funding mechanism we had for state pensions was insufficient. We have not voted to improve it. And if you ask people if they are happy to have their taxes increased to fund it, they generally say no. They might be happy to have other people’s taxes increased to fund it, but not their own.

I’m not sure I would want to. Long retirements don’t look like that much fun unless you have a lot more money than the state pension provides. I’d rather people had the freedom to invest in a supplementary pensions if they want to retire earlier, but be able to prioritise other things if they prefer.

I'm tired now...

What kind of life is this if the government want you to drop down before retiring!
They'll probably start offering Euthanasia as another choice...

I predict more crime and misery if a positive solution is not offered!

Why do you think they insist people pay into pensions now

If we are only getting 9 years or so pension, then I want final salary back !

I wonder which equity release company is petitioning for this in the background, to one of their greasy friends in power or the opposition hoping to get in…

Same as the idiots who lobbied for abolishing tax relief for landlords a decade ago. Now look how the private (non-corporate) rental sector has been destroyed resulting in those who need to rent being rinsed

Haven't RTFT but I had a neighbour who died just before Christmas. He'd retired on a pension from his corporate job in 1986!!

I am surrounded by people who have been retired for years and they are a fortunate generation

However every generation after will not be so lucky🙁

My parents are aware how lucky they are, both worked in manual jobs (Mum a cleaner) and are still comfortable due to increased property prices, savings etc

Future generations-not so lucky 😱

He must have been ancient.

He was!! 94. So he's been retired almost as long as he'd worked.