Government to conduct review into state pension age

[lookingforwardtoautumn2]

https://news.sky.com/story/government-to-conduct-early-review-into-state-pension-age-13399571

Some news sites are saying the rise to 68 may be brought forward.

It doesn’t really make sense when they’re also saying pensioners will be poorer in the future compared to those today. Why is the answer to raise the age further?..

The SPA is 68 for me at the moment but I wouldn’t be surprised if it rises into the 70s, especially if they keep the triple lock.

https://news.sky.com/story/government-to-conduct-early-review-into-state-pension-age-13399571

It's a review that happens every six years, is routine and won't conclude until 2029.
From reading this it looks like Nigel is more keen than Labour to increase pension age.

Didn't mean to post it twice!

I’m sorry but people are living longer, but they are a long time old.

67 is not the new 57.

I work with some people who are early 70’s and they are always off sick and can’t do very much. 70 year olds are not bouncing off the wall with loads of energy and able to do full time work.

I consider myself very fit and healthy at 55, but I can see lots of my peers already struggling with their health and fitness and by 60-65 won’t have much left in the tank.

People are living longer, but they don’t have the health and fitness to work.

Reform want to pay pensioners more than now. 🤷‍♀️

We don't have anyone younger than aged 58 in our office and I agree there has been an awful lot of illness/ major surgery/ people off work for months/ cancer scares. The oldest at 67 is probably the healthiest.

Glad to see they’re reviewing it. The triple lock is clearly unsustainable and someone needs to be brave enough to tackle it. Unfortunately I worry no politician is brave enough to challenge the status quo.

I agree about the aim. You really don’t need to be a genius mathematician to work out that the triple lock with increasing pensioners and decreasing working age people is simply not affordable.

Someone needs to make the change now (for the future I mean, not immediate changes) because if they don’t, changes will have to be brought in either more drastically or more suddenly by a future gov when it’s a more immediate problem.

I think the problems of our economy are far larger than people not spending and saving into pensions. You can’t grow an economy through increasing taxation. It’s never worked. The economy is in the parlour state because of the extortionate cost of Furlough/covid so soon after Brexit and not dealing with uncontrolled illegal immigration - hugely costly. None of the increases in taxes have or will work.

high earners (therefore high tax payers) are mobile - they domicile themselves elsewhere or arrange their finances to try and mitigate tax rises.

we need to 1. Get a grip on uncontrolled immigration. 2. Drop the triple lock 3. Lower corporation tax substantially to encourage job growth. 4. Slash the huge, bloated and unworkable welfare bill.

All of the above are unpopular with labour voters / their MPs and won’t happen.

The economy is in the parlour state because of the extortionate cost of Furlough/covid so soon after Brexit and not dealing with uncontrolled illegal immigration - hugely costly.

I would argue Brexit had an impact plus the whole not recovering from the financial crash...

This.
So many people just taking no responsibility for their own health and their kids.
We have spawned a dependency culture where those who are responsible for are penalized, while the spongers just… sponge…

You don’t need to be genius to see that the huge welfare bill is not sustainable, But even Kier Starmer with his huge majority couldn’t get a grip of that.

Someone needs to make the change now (for the future I mean, not immediate changes)

We already have more over 65s than under 15s...

I am actively encouraging my own DC to move abroad to more evolved jurisdictions where hard work is rewarded.

After a round of redundancies last year I'm the oldest in my dept at 54. The older folk all had final salary pensions so have much better pension provision and had the company match all AVCs. It's going to be a massive change at our work now we all have much worse pensions (and we actually still have reasonably good pensions, just not as amazingly good as before).

You don’t need to be genius to see that the huge welfare bill is not sustainable,

The majority of it is spent on pensions

@JaninaDuszejko similar pension story here, my scheme is still good compared to many but it was excellent. Closed whilst I was still at uni though.

No true . No new claimants once you get to state pension age , but those already on it continue to receive it , plus will get it if still unwell / disabled at time for review / renew .
I know people that are pension age when it came for renewal , continue to receive and was given a soft review with a 10 year timescale .

So many people just taking no responsibility for their own health and their kids.

People aren't having dc these days, look at school closures and birth rates. It was previous generations that had more dc...

I am actively encouraging my own DC to move abroad to more evolved jurisdictions where hard work is rewarded.

Troubles is most of the western world has the shrinking and ageing population issue although some aren't quite in such dire straits as us.

Cut down on benefits for working age people would be a better idea. Rather than expecting older people to work till they drop.

All of the above are unpopular with labour voters / their MPs and won’t happen.

Are Tory or Reform voters in favour of scrapping the triple lock?

There does seem to be widening inequality between the generations. The current working age population have not had the benefits that some of those who are now retired had at the same age… Inability to buy a house on a normal wage, sky high rents, university tuition fees, later pension age. Also many working age people are not getting an increase in their wages in line with inflation like pensioners are receiving from their pension. Before you say just go get more work. Many people can’t due to childcare/already both working full time. This is not to put down pensioners they have worked hard, but we need to think through whether this is really equal for the next generations and sustainable when schools are creaking, NHS is in a bad state, so many children with special needs no getting the support they need. There are a lot of wealthy pensioners who don’t need their free bus pass, winter fuel payment.

Cut down on benefits for working age people would be a better idea. Rather than expecting older people to work till they drop.

@Viviennemary so what would you cut down on? And how would that make a dent in the benefit costs for people above working age?

Some older ladies thought they would retire at 60 , then it was moved to 65 and now 67 so working an extra 7 years .
So in reality the ( potential ) add on in years is about the same.
I remember the vitriol on here by those against those ladies upset by the change .

So said without prejudice . Suck it up !

Edited to add . No I don't get state pension .

There does seem to be widening inequality between the generations.

There is a widening inequality.