To think 71 is too old for state pension age?

[winterwonder1]

This isn't just for people who are 21 now - that's for people born after 1970 - so 55 now. I can't imagine being fit enough to do my job at 71.
DWP State Pension age will have to rise to 71 says report | News Shopper

@cocoromo : Because NHS and public service employees (or rather their employers) "opted out" which meant that they didn't/don't pay as much in National Insurance contributions as someone in the private sector on the same salary.
Hence, they don't get as much in their state pension when they're of an age to get it - but, given they have also paid into their teachers pension or nurses pension or whatever, they're still better off than someone who only paid into the state pension system.

The dole (or whatever it's called now) is far cheaper than the pension.

Although now the scam that is uni fees is becoming less attractive, keeping a generation of youngsters off the dole for an extra three or four years is becoming less of an option for the govt.

But it is because of the likes of my grandparents living longer why people born after 1970 will have to work a lot longer.

Anyone under the age of 40 will have multiple pots (am not saying they are sufficient) but every job has to offer one.

It's compulsory to be enrolled not to stay in

This is me despite working in some capacity since the age of 15. I worked part-time during uni, then agency and low paid work, and then I had some time off for childrearing and a bout of ill health so I 25 years later I still have no meaningful pension. I have zero savings because I've simply never had any spare money to put aside. State pension it will be for me but not through lack of trying.

Exactly this

DH is in a very physically demanding job. He is 53 and has been doing the work since he was 17. At that young age he witnessed just what the job did to the older guys who were all fucked by their mid 60's so has always made financial plans to retire at 55. Only 2 years to go 🤞

I think who can do what at what age varies a lot, it isn't that there are certain jobs that any 71 year old could do, though some are more likely to be manageable than others.
Having said that, I'm currently watching my fit and active DH less and less able to carry heavy objects or to do fiddly DIY jobs without injuring himself. He's no less active than he ever was, so it is just age having its effect. And I've had to enormously reduce my working hours because concentrating for hours a time is exhausting nowadays and I start making mistakes much sooner than I used to. Again, cutting down was in response to this not a cause of it; I imagined being able to work full time much longer than is turning out to be possible.
Like so many things nowadays, the prospect of pension starting in the seventies is frightening.

As are many workplace pensions including NHS, teachers etc! So many of us are saving for a pension we might not get to claim or if we’re lucky only for a few years! ☹️

I'm not a teacher so I dont know if its the same in teaching but for NHS pensions, there are different schemes. So anyone who is around 60ish now and joined pre i believe 2008 have a good pension and can take their pensions early and it makes sense for them to do so. Anyone who joined after 2011 (when i joined) is in the new scheme (not optional) which is tied to national pension age. Where you have huge penalties for every year below the national pension age you are when you retire.

This is not helped by people having to wait until 66 or more to get their state pension, and some private pensions not paying out as much as expected.
It can only get worse.

Can you provide a link for this please. I worked in the NHS for a good number of years and have never heard of either paying less NI and getting a lower state pension too. Nothing in my contract and never mentioned at induction or when I joined the NHS pension scheme.

My husband is 70 and still works full time in healthcare. He’s fit and healthy as are so many others! The state pension will over time become means tested and those who truly need it will get it!

In my case my paying 6 years cost around £1500, that increased my pension by £20 a week, lets say I last 20 years - over 20K return in todays money

It's not that long ago Blair's government were encouraging people to retire at 50 like my dad ! He had 20 years retirement before dieing at 71!

I'm 53 now and I actually look at McDonald's as a possible job prospects to see me to retirement if I can't keep doing what I am doing. Meals on duty too which would help.

I thought it was the other way around. You could opt out of the pension but pay higher NI which was a lower percentage and therefore more manageable if you were on a very low wage.

I was able to drop to three days at 65 and take my small occupational pension which was lovely. I fully retired at 67 and got my state pension also. All well for a year or so, then I developed severe osteo arthritis, have possible angina with a heart murmur, further tests needed and am generally much more tired. I definitely would not be fit enough now to work full time. I have paid into the system since the age of 16 and am now 69 and feel I have earned my pension. Grandparents duties also beckon ! I feel the young folk should have the jobs which are available. It’s hard enough for young families as it is. I think it is wrong to wait until people are only fit for the ‘knackers yard’. In any case this might be counter productive as it could end up costing the NHS more if people become chronically ill as a result of working too long.

It changed in 2016 @lifeonmars100.
Sorry, can't do links but gov. UK website contracted out of the additional state pension explains it.

In which case they need to cut their cloth elsewhere. A system that takes from people and gives them nothing in return quickly looses support. We are already past the peak on the gaffer curve. Tax payers who can will leave and others will batten down the hatches, earn less, pay less tax and enjoy a simpler life, rather than being taxed to the bone and getting nothing back.

It's just a few researchers and what they think.

https://www.gov.uk/contracted-out

Thanks @User19876536484.

That’s so not the assumption as they are taxing everyone too heavily to assume that.

It basically means we'll all be really poor in our 60s.

That wasn't my point at all! My point was don't be too pompous about your saving endeavour, because the likelihood is you'll be wrung dry. Essentially, saver or not, we'll likely ALL be equally miserable in our dotage, thanks to the joyful combination of modern medicine and piss poor social care.

This is out of date as it's based on the pre 2016 state pension. Everyone now gets a flat rate now based on years you have worked/paid ni.