to think everyone should retire at 60 and the state pension should be a livable amount

[pollyis]

Hi,

I was one of the lucky ones that got to retire at 60, but now this this being raised to 66. I think this is very unfair and downright wrong. If anything it should be lowered for both men and woman so they can spend their last few years with some hard earned rest.

Also the amount is much lower than countries like France and Germany. My pension is 146 pounds a week. Hardly a decent amount and I'm expected to live off this for another 20-30 years!

I think we should all support each other to get the age lowered and increase the amount to the same as Germany. Sok about 320 a week per pensioner. Do you agree?

Polly

And how do you propose to pay for it given that our generation could live well into our 90s?

Depends on who you think is going to pay for it, really. Your contributions to the state pension pot have already been spent on previous pension recipients; your pension is being paid for by today's contributors.

Who would you like to see pay more into the pot to accommodate your request?

Yanbu but you'll be told yabu

Although 60 is perhaps a bit ambitious

I dunno. I'm 42 and can;t imagine being ready to retire in 18 years time. Too soon.

In an ideal world, yes. But people live longer now so the pension fund needs to be spread out a bit further. Where is all this extra money going to come from? I am 44 and am not expecting to receive any state pension, anything I do get will be a bonus.

Fine, but we'd have to introduce compulsory euthanasia at say 75, and no one over the age of 65 should be allowed to vote to prevent politicians putting the interests of the not long for this world above those of our children and young people.

Brilliant plan but how do you propose it is paid for?

I understood the original pension age was based upon a much lower average life expectancy - we weren't expected to live for 20-30 years after retirement, more like 10 years and with far fewer 'demands' on the NHS in that time as medicine wasn't as advanced.

And that's the problem right there, you expect to live another 20 - 30 years. The state pension was originally bought in to cover those who lived beyond the average life expectancy. Not be a panacea to those who don't want to work.

If you think the money isn't enough why retire, get out and find a part time job to supplement your income.

Given the average life expectancy now, I completely believe the retirement age should be raised to 70, not lowered.

If we just stopped letting tax avoiding people and companies. Then there would be plenty for everyone to retire at 60 on a good amount.

How are you proposing funding this?

Pensioners don't all receive that in Germany!

I think we should all get free chocolate when we're on our period, free wine on a Friday and free childcare in school holidays.

But it ain't never going to happen

I think employees should be encouraged to save into pensions as should employers with decent tax breaks as incentives.

The state pension should be a safety net for anyone else who couldn't save. But it should not be for everyone.

We should all retire when we want (within reason of course!!)

If you live to 90yrs, that'll be 30 years at £320. About half million. How would that be funded?

"Hardly a decent amount and I'm expected to live off this for another 20-30 years!"

That's precisely the issue. Pensioners were not expected to live another 30 years when the pension age was set- hence why it's been raised.

State pensions are supposed to support people who are too elderly and infirm to work. Not to pay for baby boomers to have a Saga cruise every year.

Germany is a rather bad example to choose, is it not - they are not replacing their population (ie more people are dying than being born) which means they could be in pretty dire economic straits.

The current working generation are the ones paying your pension. The trouble is that your generation are living for a hell of a lot longer, and a greater cost to the state, particularly the NHS, than your parents or grandparents. If you're happy to be forcibly popped off at, I don't know, 78, then your idea might work.

Germany has a big birthrate crisis at the moment and is offering very generous government benefits to people who have children, to encourage couples to start families.

Oh alright then sounds like a plan.

I'd love to retire on a fair whack so Yanbu

Is this flat rate, regardless of whether you have worked or not?

I think I should get free everything and people should realise I am always right.

However this won't happen.

Yabu.

20-30 years isn't your last few years is it. You can retire when ever you like providing you have the means to fund it.

You are bloody lucky- housing boom which you benefitted from, decent pensions to look forward to (if you worked obvs).

Pensioners these days don't know they are born
It will be shite by the time people in my generation- people in working poverty and the "underclass" where generations haven't made contributions to the pot- get to retire. Tbh in the future I think far more people will be forced to work till they drop.

I agree with the others that the big question is how do we pay for this. I think I recall seeing some figures which said when the state pension was brought in, a quarter of people didn't live to claim it.

Now with people living to 90 then it's Abigail's burden to put onto the state.

I can tell you now that the amount of tax "avoided" by companies and individuals (even if it did all become payable to the exchequor) would not go anywhere near meeting the costs of allowing everyone to retire on 320 per week at 60. THis is more than many of he recipients would have earned (net) during their working lives, never mind what their contributions would have been.

You are (I'm afraid) being very unreasonable. I think we all (as parents) have a moral obligation to ensure that we don't live beyond our means and ask our children and grandchildren to pay for it.

As someone who grew up knowing there's be little or nothing of a state pension when I 'retire' it just seems like the norm and inconceivable to me that when I am no longer working I ought to be given enough money to live of by the state.

Rightly or wrongly, it is standard to me that during the course of my life I have to make my own financial provision for old age and any taxes I pay will be used elsewhere.

Off*

I would love to retire at 60 but unfortunately with life expectancy increasing, it's just not feasible.

I'll be honest but as someone whose pension age is 68 and who has another 38 years to go and therefore is very unlikely to ever get to pension age (as I imagine it will increase more than once in the next 38 years); I think you just need to count your self lucky that you have been in a generation who have been able to retire at 60. It would also be very nice if the amount was increased but as I can't see that happening anytime soon, I would say you may wish to consider seeing if you could supplement your income before you get too old/unwell to do so.

Having just lost a parent to cancer in their 50s, it does bring it home, that working until I am 70 means I am unlikely to get much, if any retirement. Fortunately my parents were of a generation that enabled them to retire in their 50s despite being on average salaries so they need get a couple of years. The only thing I can say to my generation is get saving I suppose. Or playing the lottery. .. because there is more chance of winning the lottery than the government bringing the pension age down to 60.

A quick google search teaches me that in Germany the retirement age is gradually rising to 67 and the average pension is €1263.15 per month, of which only half is paid by the state. So around £115.02 a week state pension.