If you can work you should... But why?

[Tryingtokeepgoing]

So, Rachel Reeves is of the opinion that if you can work you should. However, there are millions of us in the 50+ bracket who can work, but don't need or want to work. We are financially self sufficent, happily (ish) paying tax and spending money supporting the services economy on which so much of the country depends. Why should we work? Altruistically, I see my choice not to work as creating opportunities for progression for others...

Why should we work?
What is achieved by encouraging us to work?
If there are benefits to us working, how can she incentivise us to do so?

caveat - I am not a fan of the Telegraph, but it is a direct quote

“If you can work, you should work,” she said after official figures showed worklessness in Britain rose to its highest level in more than a decade.

I have unfortunately. It’s not the life I wanted. I try though to make a difference by being a good parent and at some point I would love to find a volunteer role I’ve been having intensive therapy recently and I really hope it may be the thing that makes a difference and as much as I feel I’m doing the best I can right now I wish I could give back something.

@sadabouti people in my family do not live long. Even the median age for women my age dying is 82. But most women in my family die by mid 70s. Why would I work until 68 and die 7 years later if I have a choice?
I am low paid, work is not fulfilling. And as I get older, it gets worse.

This. Clearly.

I don’t think it’s directed at you, it’s directed at people who are receiving benefits

Is that a problem, as those people will be employed in the UK and paying tax? Seems like a win-win to me!

Are bosses desperate to hire more staff in their 50s though?

The affluent early retirees seem to me to be the ones volunteering at the charitable concerns in the area.
Might not be 'working' but certainly doing something solid to benefit society.

@taxguru what was their motivation for scrapping it?

Bring in a universal basic income. That way, those who want to/can work more and earn more can but there is not the them vs us attitude to people who don't or can't work for whatever reason.

I think a poster upthread hit the nail on the head about ever increasing state retirement age. I think increasing it has done more harm than good. Obviously it had to be equalised so men and women can claim at the same age, but to increase the age to 67/8 wasn't thought through properly. As usual, they didn't think about behavioural aspects at all.

Someone who's getting fed up of working and maybe "could" live on savings etc getting to say 60/62 years of age could well think "only 3/5 years to go, I can manage that" and just carry on. But when they're 60/62 and think, "God, another 6/8 years, I can't do that" they may well just give up or go part time as they can't face so many more years of working full time. That's the behavioural aspect.

It's like the old Paymaster General, Dawn Primarolo, back in Brown's days who said in Parliament that she didn't think self employed sole traders would convert to limited companies just to save tax - she was deluded and hadn't a clue about human behaviour.

We need a lot more consideration given by politicians to human behaviour and less emphasis on economic theory. As another recent poster mentioned, Rachel is a macro economist and therefore isn't particular suited to human behaviour nor human finances at an individual level.

This was aimed at those who are on benefits etc OP

This thread is just a saucy humble-brag.

Seems to me that most of this is levelled at mid 50’s/early 60’s taking their private pensions or whatever.

But… employers on the whole don’t want that age group and want them out. And this needs solving first.

The idea of a universal basic income has been around for centuries. There are numerous articles claiming that it works, numerous pilots etc. despite that it's never been fully implemented in any country around the world.

Why do you think that is?

I have neighbours who have never worked since they moved in, have 2 cars, 2 holidays a year. Parcels delivered every day..I know as they're often delivered to us when they're out. They claim benefits and are quite braggy about it. I'm 65 and still work. My husband is 61 and waiting for a new knee so cannot work (builder) but is not entitled to any help as he can use his arms according to dwp.
Because they do not work their Nat ins is paid so we will both get the same state pension. How is this fair when they don't want to work?

I haven’t RTFT, so it may already have been mentioned, but it also depends on what work you do/have done. Not everyone sits at a desk behind a computer screen etc., so if your job is physically challenging, it’s no surprise that you may not be able to continue working (in that role) when in your 60’s. Some people may be able to retrain into something ‘less demanding’, but not everyone can do so.

I think it has too

People are just changing their behaviour to get round the pension age.

There was a post this week from someone who had been unemployed for eight months asking if she should take a receptionist job in a spa for thirty hours a week. Her point against it was that she would have to do four late shifts every fortnight (from which she would be collected by her fiancé) and this meant she "wouldn't have a life." I honestly hope my DDs will have a better work ethic than her...

Economists have predicted six of the last two recessions ;)

MN likes to deny it but it's a way of life for some people, they know just what to say to game the system. A lot also work cash in hand.
Of course 'reported' level of benefit fraud are low. These people aren't caught that's why they continue to get it.

And she had no kids as well.
Honestly wondering who's been funding her life.
People are so anti immigrants etc but they do the work and pay taxes.

@Titsywoo but usually you have to contribute for c35 years minimum to get the full state pension. Plenty of people who started work at 16-17 have done 40+ years by late-50s so have contributed for longer than many. Can’t claim state pension until state pension age (mid to late 60s) and continue to pay NI until state pension age. My state pension age has gone up twice. I could probably afford to stop but won’t be any time soon but if I couldn’t I’d work as long as I could. I guess changing the school leaving policy will impact future pension processes too.

@FiddlyDiddlyDee I sincerely hope you find some happiness going forward

I have a life limiting illness and am decades away from retirement

I work full time from home - and on my street, most people arent even out of bed until lunchtime.

The family next door to me got a fully adapted house with an extension built handed to them last year due to the husbands ill health but he can be seen up ladders and climbing trees to cut branches down - he can physically do more than I can he drives a brand new car and ive got a 14 year old heap

I have to bum shuffle to get up or downstairs

I will be in bed by 9pm most nights, and this same family next door are in the garden large hosting gatherings at least twice a week.

Last night they were all having a karaoke that woke me up at 2am singing BOOYAKA BOOYAKA

I've worked since I was 16, never not worked and plan to retire at 58. I've paid my taxes for 42 years so if anyone says I should work they'll be told to fuck right off!

I’m a millennial but paid NI since 17 whilst working around education, you really didn’t have to earn much back then to qualify. My state pension age is 68 but I’m sure it will increase.