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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To think most of us will work to death?

242 replies

Fifi0000 · 15/03/2023 15:51

I was thinking retirement age is rising again. I'm now 30 my grandparents are late 80s and retired before I was born. They aren't wealthy , They have only started really slowing down health wise. I was thinking about this and very few of us will get a 30 year retirement. If the retirement age rises to 68 I'm dreading what it will be when I reach that age and my daughter. I do have an ok pension pot but I think the expectation will be very short retirements in poor health basically work until you drop.

OP posts:
ilovesooty · 15/03/2023 19:02

CatsGinAndTwiglets · 15/03/2023 15:57

The current retireds didn’t pay enough into the system so the rest of us will work til we drop after they’ve finished their long holidays and art classes.

Disgusting comment.

bibbybox · 15/03/2023 19:03

@Fifi0000 true

bibbybox · 15/03/2023 19:03

If all the older generation are so wealthy then it looks like a lot of the younger generation will inherit

this is true although care costs are likely to increase so some will lose out plus what about those who won't inherit?

MerryMarigold · 15/03/2023 19:15

I think there will have be to be a new tier of work at the other end of life, for those with less energy and physical capability. As in 'school leaver' jobs but for old people. We can't clean, teach, nurse, work in preschools, even waitress or do shop floor work. I have no idea what we can do. My job is fairly limited to good physical health and flexibility.

KTheGrey · 15/03/2023 19:46

@CatsGinAndTwiglets
The problem is that the NI system started paying out at the same time it was inaugurated. At no point was it invested money - it was the money other, younger people paid in, which was paid our to those retiring. Nobody was going to stand up and say that people who lived and worked through a couple of World Wars and a depression should not be pensioned. But it is not properly structured.

Skodacool · 15/03/2023 19:48

CatsGinAndTwiglets · 15/03/2023 15:57

The current retireds didn’t pay enough into the system so the rest of us will work til we drop after they’ve finished their long holidays and art classes.

The current retireds paid during their working lives to support the retireds at the time. It’s always been that way because the government didn’t fund the state pension when it was introduced. That apart, today’s retireds have, in many cases, paid into occupational pensions during their working lives.

Skodacool · 15/03/2023 19:50

AdventFridgeOfShame · 15/03/2023 16:01

A 54 year old boomer?

Quite!

Skodacool · 15/03/2023 19:53

KTheGrey · 15/03/2023 19:46

@CatsGinAndTwiglets
The problem is that the NI system started paying out at the same time it was inaugurated. At no point was it invested money - it was the money other, younger people paid in, which was paid our to those retiring. Nobody was going to stand up and say that people who lived and worked through a couple of World Wars and a depression should not be pensioned. But it is not properly structured.

Exactly!

Cheeseandhoney · 15/03/2023 19:53

If you don’t wish to work forever, sort your pension, we don’t live in a communist society and you’re responsible for you.

KTheGrey · 15/03/2023 19:54

@Dotjones

Boomers were born 1946-1964. They are currently between 76 and 59.

Gen X would be 1965 - 1979 - your 54 year old more likely to be one off those. And he was Just Jammy - some people are in any generation.

I don't know many boomers, but my pre-greatest-generation grandparents and silent generation parents did ok out of the pensions scheme. Without it my workhouse raised grandmother would have died destitute, no doubt about it. And I will certainly work till 67 and feel largely ok about it.

Enthrallingstoryofstillnessandlight · 15/03/2023 20:30

Is that the case that ALL over 60's get free prescriptions?? That's just bonkers

FlyOnAWing · 15/03/2023 20:31

No. Only those who are old enough to get a state pension.

Trinity65 · 15/03/2023 20:32

Dotjones · 15/03/2023 15:58

YANBU they're trying to get back to the idea of work until you're about to die and maybe have a couple of years hanging around until you do.

The problem is that the boomer generation were able to acquire wealth to a degree that is not widely possible these days. A boomer colleague retired recently at 54 mainly because they had a final salary pension that the company bought them out of (millions) and because they'd bought a house at 21 so were mortgage free by the time they were 40. An impossible dream these days.

Not ALL Boomers !!

FlyOnAWing · 15/03/2023 20:32

The costs of treating people who could not afford to buy their medication so get more ill, would cost far more than free prescriptions.

bibbybox · 15/03/2023 20:35

If you don’t wish to work forever, sort your pension, we don’t live in a communist society and you’re responsible for you.

So you think pensioners who didn't pay enough NI &/or don't have a private pension shouldn't get any help?

FlyOnAWing · 15/03/2023 20:36

Yeah just starve to death.
Or maybe we could have this big place with dormitories, give people basic food and get them to do some work to pay for it? A house with work. Wonder what we could call it?

whoknowswhyanyonedoesanything · 15/03/2023 20:37

I seem to remember reading (sorry it's vague)...when state pensions were introduced (pre welfare state I think), it was based on average life expectancy. So a retirement age of 60 was based on expecting the person to live approx. another 9 or 10 years. I think what was unexpected was the big and widespread increase in life expectancy post war and all the benefits we associate with baby boomers. They have worked hard BUT also been a lucky generation, it's not their 'fault' or greed. I don't think the concept of a retirement of 30+ years was envisaged when the welfare state was established. So it's sad/annoying for us, but I think the state retirement age is increasing/will increase partly in response to that.

CatsGinAndTwiglets · 15/03/2023 20:41

ilovesooty · 15/03/2023 19:02

Disgusting comment.

Show quote history

It’s accurate. The current pensions crisis is because the current pensioners didn’t not pay enough tax over their working lives. They paid what was asked of them at the time but it wasn’t enough and the current tax payers are suffering as a result. And they won’t pass it down because the majority require paid for care in their old age so it’ll go to private care companies.

theswoot · 15/03/2023 20:42

I feel very confident that if DH and I have to keep working at the pace and intensity we currently are (mid 30s now) then we are very likely to die before having any kind of retirement. It is an utter grind, completely unsustainable but also the only way to get by.

DawntilDusk4 · 15/03/2023 20:49

I’m nearly 50 and changed jobs a few times. I plan to retire from my current job and take a year or two off and then I may well explore new challenges. I live a very simple life. Enjoy simple things. Have benefited from property prices and I am happy to downsize and live off savings and some capital. I want to travel more. I think I have 15 years okay health as I do have a long term metabolic condition but I don’t want to be working til I drop but saying that I don’t mind working I just like to not feel trapped in the rat race so I change jobs and directions often. TBH Jeremy Hunts boot camps for over fifties might be a timely advantage for me. I’ll never work full time again and I prefer being self employed. I did spend the first 30 years of my working life in a big institution so I do know what’s it’s like to be part of the big machine. I burnt out. My mental health suffered. I prefer being poorer but more free.

IClaudine · 15/03/2023 20:51

I don’t know a single pensioner who is worse off than us with two full time working adults in the household

Well over a million pensioners are on Pension Credit (so around 10% of pensioners as there are almost 11 million pensioners I think). You must live in a very affluent area.

It is so sad that people fall for this divisive rubbish.

IClaudine · 15/03/2023 20:54

Enthrallingstoryofstillnessandlight · 15/03/2023 20:30

Is that the case that ALL over 60's get free prescriptions?? That's just bonkers

Where I live (Wales) everyone gets free prescriptions. Same in Scotland I think.

Bucketheadbucketbum · 15/03/2023 21:00

Can you imagine having your operation done by a team all pushing 70 . Its ridiculous

FlyOnAWing · 15/03/2023 21:05

That will not happen, they are well paid enough to retire.
Can you imagine 70 year old nursery nurses?

OnGoldenPond · 15/03/2023 21:06

Dotjones · 15/03/2023 15:58

YANBU they're trying to get back to the idea of work until you're about to die and maybe have a couple of years hanging around until you do.

The problem is that the boomer generation were able to acquire wealth to a degree that is not widely possible these days. A boomer colleague retired recently at 54 mainly because they had a final salary pension that the company bought them out of (millions) and because they'd bought a house at 21 so were mortgage free by the time they were 40. An impossible dream these days.

If your colleague is 54 he's not a baby boomer he's Generation X. He's also pretty unusual for his age group to be in a position to retire at 54 when he isn't getting a state pension until 68. I'm older than him and won't be retiring until state pension age as I didn't benefit from the final salary pension schemes and huge stock market boom of the 1970s.