To wonder how the bloody hell I sm going to be still working at 70?

[ItsAWonderfulCervix]

Nurses, midwives, teachers, etc

Physically and mentally, how?

I'm pretty knackered now. I'll be hobbling with a zimmer by then.

And if we all have to work until we are 70 who will do the free childcare for our grandchildren?

Timid -Is that true though? I don't think it is. People live longer partly because we can now treat conditions that would once have killed people. So I have a friend who has a pacemaker and takes medication, who would once have simply died. She is not any healthier, but will live a lot longer, and will be expected to work until 70.

Also in terms of financial planning, for pensions that involves long term planning. And yet women were told they would be able to retire at 60. For many older women, they do not have enough years of work to possibly pay for enough pension to not have a state pension until 70.

Why is it bad planning to pay into a pension at the rate advised for 15 years. How was I to know the value would drop so much?

I'm not going to just give up, I'll keep going until my body gives out.

Oh and btw when I said I spent all the rest of my money I meant it and I meant it when I said it was spent on essentials. Things like food, heat and shelter that will help me keep fit as long as possible.

Auto enrolment is coming all employers will have to auto enrole you into their company, you can opt out, but will have a very short window to do this. All employers will have to do this by 2017. You will have to contribute 5% of your salary.
With this scheme in place of course state pension will disappear.
The word on the street is that if your employer doesn't set a pension scheme up before next autumn they will only have one choice - the government run scheme.

i think i'd rather work until i dropped. hate the thought of being a pensioner

If you have enough for a deposit and have 20 odd years to retirement, buy a 2nd property and let your tenant fund your pension for you. Property can then be passed on when you die.

Makes much more sense than pensions.

Annuity rates are awful and will only get worse as life expectancy increases.

5% of your salary for lots of workers, will give them very little pension.

you may well not have the ability to work until you drop, for numerous reasons including your body may not allow you to do this even if your mind does. Look back in the 19th century before state pension and there were plenty of people who entered the workhouse and they didn't want to be there it was like putting yourself in prison, but they had come to the end of the line

Well, I'm just going to keep working even if it does mean a part-time job at B&Q.

Who wants to sit at home knitting for 30 years waiting to die?

I might murder someone when I'm 55. Be keep warm and fed in prison in my old age.

I plan on coping by introducing compulsory nap time for my class.

I don't care what age they are, at that age I will need a nap. possibly colouring for the ones who won't sleep

This is a very illuminating article in the Guardian from last year

www.theguardian.com/money/2012/may/25/20000-pension-quarter-salary-retirement

It seems clear that a decent pension just costs too much for most people and we all need to look at other ways to support ourselves in later years.

I think that there will be a far more rational attitude towards suicide.
A Dignitas on every high street.

Annieorangatan; please please tell me how the folk you k ow of do half year abroad half I'm working ; what jobs they do Ect! I wd really really want to do that! Thankyou

Kirsty no. PAYE is just the deduction of your tax and national insurance at source (ie straight out of your pay packet). If you are of paying into a pension separately all you will have when you retire is a possible state pension. But many predict it will have disappeared or been reduced so much that it is worthless by the time our generation retire.

In which case yes you will be working when you're seventy or else relying on your DC to keep you.

You MUST have some sort of plan for how you are going to support yourself for twenty five years once you're no longer working.

The other difference between pension and savings is that when you draw your pension you get it until you die. Savings last until they run out.

Agree with happyfeet. There is no political will to address the looming issue, eg currently older people outnumber younger ones and more of them vote.

Suspect that even in defined benefit (public sector) pension schemes it will become much more difficult to get "medical retirement" and people will be fired for incapacity and unfit to work will have to live off savings, property or depend on benefits.

And people are living longer, but not getting fitter or living longer with good health / fitness to work.

If we will work till 70. Where are the "new" jobs for our kids coming from? A 70yr old will be expensive surely compared to a 25yr old too...

Sometimes chucking it in and minding trolleys in b&q is attractive though!

I am assuming the government think there will be more jobs in future because there will have to be or all us oldies will be blocking jobs for the young people.

The childcare issue of no Grandparents being available to help out with any childcare because they will still be working will be resolved after some kind of calamity when the government realise this is a problem for most families. What they will do is use all the money they have saved on state pensions to subsidise chaild care schemes.

On a more serious note I have recently taken the decision to not make up my shortfall in NI contributions so I get a full state pension. The ££ DWP want off me will go into a savings fund because by 203? when I am due retire I very much doubt there will actually be a state pension. So I wont chucj awat £££ making up that shortfall. Its not worth the risk.

'I think that there will be a far more rational attitude towards suicide.
A Dignitas on every high street.'

Yes people could be made to feel selfish for receiving state help.