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

@TheAmusedQuail I agree with everything you’ve said and I wasn’t very elegant with my post. The poverty trap is absolutely real and no one is really helping us. What I was trying to say with my post is that it can be done…but it’s really bloody difficult when it shouldn’t be. When everyone says it’s impossible the collective we understandably tend give up. And I’m just suggesting we fight back where we can (whilst also appreciating that sometimes we have no fight left or that we are stuck in a cycle.
Ive seen my mum (still working at 72) miss so many opportunities due to a lack of financial know how. She’s amazing, and will be fine…but she could have made life a lot easier for herself with a bit more knowledge

Yawn….
I have plenty of critical reasoning thank you.

But you’re just asserting things as if they were true with no backup.
This is one. And you know very well that if only 14% of people buy a takeaway every 2 weeks when 50% of people do it every month, it’s very unlikely that 50% of people can AFFORD to put £50 aside each month.

Otherwise you’re right into ‘avocado toast and costa coffee’ bashing that would like to believe that not buying a Costa coffee is enough to buy a home (and now have a decent pension)

@TankFlyBossW4lk i agree and only two things can happen

1- more people will go in disability benefits towards the end if the working life
2- more people will live in abject poverty because ‘we can’t spend more on benefits!!!’ beliefs.

Neither of them are good in anyway for the economy tbh.

And there are plenty of people not having that takeaway in the first place because they've barely managed to afford groceries. The industries you mention have all been hit by the cost of living crisis.

Most working adults (but not all) spend more than £50 a month on nonessential discretionary spending. According to this article 84% of Brits go on holiday each year - even the most basic trip is likely more than £600.

www.independent.co.uk/travel/news-and-advice/uk-record-number-of-holidays-b2625746.html#:~:text=Your%20support%20makes%20all%20the%20difference.&text=It%20is%20the%20most%20since,last%20year%2C%20at%2084%25.

some people living in poverty has no relationship to the ability of the majority to save for retirement.

Well, it sort of does, because I suspect that your 'majority' who can afford to save isn't nearly as big as you think it is.

The majority aren’t reliant on food banks, though, which is what your post implies. If 84% of Brits can afford to go away on holiday that implies that the majority do in fact have some flex in their budget. I don’t dispute that there are some who genuinely cannot save, but push back on the notion that private pensions are only an option for a small number of rich or ‘upper’ middle class.

Agreed

Firefighters could retire at age 55 until a few years ago. The age has now been raised to 60.
The normal pension age for non-uniformed staff in the fire service is 67.

The original quote was about firefighters.

If its gone up to 60 that's shocking it was 50 a few years ago

Let’s see if you still feel like that in your old age. Also, how the fuck are people of minimum wage supposed to save for retirement.

One explanation for your comment could be you being well off and having no idea what it’s like for people outwith your own cohort!

No, obviously it's not just those at the very top of the income scale - I just think there's a far greater number of people falling between the 'has to use food banks' and 'can afford a private pension' points on the scale than perhaps you might think.

Anyone who can afford to go on holiday can afford to put something in a private pension. That is a solid majority of Brits.

Everyone is too old to work in their late 60s early 70s!! The reason they're doing it is because they want to save money.
Half of the welfare budget goes on state pensions.
I don't know about men but after 5 children my body is falling apart at 45!! I rarely get to the toilet without peeing myself a bit!! I think women physically go through so much (pregnancy, periods, menopause) that equalising the pension age was wrong.
I can't speak for men. I'm sure they have their own stuff going on, but if we gave them a taste of what we get, then I think they'd understand.

Thank you! Makes sense now.

@Wingedharpy it is any employers pension scheme in the past, not only NHS and council pension schemes

I'm 75 this year and still working full time as a counsellor with my own private practice. I love it and hope to carry on for a few years yet. I suppose that's the key - if you enjoy what you do. I would be climbing the walls if I didn't work! Obviously this job isn't physical so that helps.

'Something', yes. Enough to make any meaningful difference to their eventual pension provisions? Variable.

You are correct. It's really ironic that it's the pension-age generation who object in the largest mass group to immigration, when that immigration is what's needed to pay their pensions.

good point

You can't expect people with almost no disposable income to use all that disposable income by paying into a pension. So no treats at all until they're pensioners? And then still no treats because saving £50 a month isn't going to give you the sort of money for endless takeaways come retirement age. Lots of people, given the choice, will choose happiness today over a tomorrow that might never come. I don't blame them, either.

Totally agree. Two of my friends and three colleagues never made it to retirement age.

I know some teachers who were pushed to retire in the mid eighties. Enhanced pensions.

One died a couple of years ago but the other three are alive and enjoying their teaching pension.

I am 61 and already struggling! I have had a rare cancer a few years ago and never really got over it. I have been part time for a few years as a result but now am too unwell for even that😥 I am very worried about limping along until I get to 67 (my designated age to retire) despite being in a profession so not manual or physically demanding. and I worry about the future as it is! My DH although only 4 years older than me gets his state pension next year while I have to wait another 6 years which seems grossly unfair!