Page 37 | To think 71 is too old for state pension age?

JoyousGreyOrca · 02/03/2025 01:33

JaninaDuszejko · 01/03/2025 23:03

If they do means tested it would have to be introduced very slowly because everyone's pension planning currently takes account of the state pension. And if suddenly you have to forfeit state pension because you've got a small private pension then what's the point in saving? The average pension pot in the UK is far too small to replace the state pension so most people would stop saving for retirement.

And lots of people in their late fifties would cash in their small pot and retire early.

HoraceCope · 02/03/2025 07:51

AnneElliott · 17/02/2025 14:18

For those in the public sector, where the pension age is now the state pension age, you might be able to claim the pension linked to your earlier service (ie pre Apr 2022) if you started before 2005.

As a civil servant that started in 2000, I can claim my 22 years service from 60 with no actuarial reduction. The years I've worked from 2022 onwards I can only have at state pension age - unless I opt to take it reduced.

Most of my colleagues go part time at 60, take the earlier pension and work 2/3 days a week and earn pretty much the same. Worth reading up what the McCloud judgement means for your pension scheme as I think it is similar.

only if management allow this
and there are many cases where they dont

HoraceCope · 02/03/2025 07:53

Swonderful · 28/02/2025 13:44

What about people in manual jobs who can't work into their late 60s?

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who is to say they cant though?
there are plenty of fit manual workers in their late 60s

LastTwoBraincellsFightingFor3rdPlace · 02/03/2025 10:10

Labraradabrador · 01/03/2025 23:32

Means testing the state pension would only work if private pension contributions were mandatory and much higher than the current standard . Otherwise you are disincentivising savings, especially among low and middle income earners.

Yes. I think that too

Letskeepcalm · 02/03/2025 10:25

But really, isn't taxing a way of means testing? Keeping the the tax threshold low, means that you're taxed straight away on any private pension, no matter how small.

WaHaHa99 · 02/03/2025 17:03

winterwonder1 · 10/02/2025 16:16

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

The state can no longer afford to support all retired people.for 30 years.

We all have to work to fund our own retirements. What other option do we have?

Current retirement age is 67, or whatever. If you can't do your current job, then you'll have to find another one.

Perhaps we'll all have to have a few careers. Absolutely a fire fighter can't work until 7p, but that doesn't mean that they can't be a librarian, or whatever.

JoyousGreyOrca · 02/03/2025 17:08

@WaHaHa99 They dont. The median age for women to die is 84 years old. A woman with state retirement age of 68 can be expected to live another 16 years.

WaHaHa99 · 02/03/2025 17:10

HoraceCope · 02/03/2025 07:53

who is to say they cant though?
there are plenty of fit manual workers in their late 60s

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They will have to find a less manual job.

JoyousGreyOrca · 02/03/2025 17:10

@WaHaHa99 A librarian is a skilled job requiring a qualification. You mean a library assistant on minimum wage, and this is mainly done by volunteers now.
I am 62 and can no longer physically do my old job. I struggle to get much more than minimum wage. I actually retrained mid fifties, and because of an unexpected change to government policy two years ago, there are now very few jobs in that niche field where I thought I had a job for life.
Its bloody hard to get a job as you get older.

JoyousGreyOrca · 02/03/2025 17:13

@HoraceCope Most of my friends are in the trades. Being fit enough to work in the trades is rare for older people. Most of my friends are fit, but they have bad knees and can no longer kneel or crawl. have bad backs and can no longer carry loads. None of them are in the trades after 60. The only people I know who are is one painter and decorator, and people who run their own firm and employ people so can do the easy physical stuff.

WaHaHa99 · 02/03/2025 17:14

tamade · 28/02/2025 11:32

If I came on here and posted something along the lines of:
“I run a bakery and took loads of deposits for wedding cakes and birthday cakes, but I spent all of the dosh on my holidays and some clothes now I can’t afford to buy eggs and flour and such”

I think I could expect a pretty hard time, why do governments get such an easy pass on pensions? People should be furious.

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Every person thinks of their own pocket. Everyone wants more services, more pensions, less taxes.
How can you blame the governments you voted in?

WaHaHa99 · 02/03/2025 17:17

JoyousGreyOrca · 02/03/2025 17:10

@WaHaHa99 A librarian is a skilled job requiring a qualification. You mean a library assistant on minimum wage, and this is mainly done by volunteers now.
I am 62 and can no longer physically do my old job. I struggle to get much more than minimum wage. I actually retrained mid fifties, and because of an unexpected change to government policy two years ago, there are now very few jobs in that niche field where I thought I had a job for life.
Its bloody hard to get a job as you get older.

Good point, thank you for raising about librarian.

I think we all need to think outside the box job wise.

It's time to unite, for us all to support each other.

My job is exhausting me mentally, and I am not as old as you. Pondering what career next, to keep me going.

HoraceCope · 02/03/2025 17:37

WaHaHa99 · 02/03/2025 17:10

They will have to find a less manual job.

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totally not necessary in ALL cases.
how many manual workers do you know?

TheignT · 02/03/2025 17:38

WaHaHa99 · 02/03/2025 17:14

Every person thinks of their own pocket. Everyone wants more services, more pensions, less taxes.
How can you blame the governments you voted in?

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I'm not looking to pay less tax. I think the welfare state has been there for me if id needed it plus emergency services school for me and my kids. I don't mind paying back.

TheignT · 02/03/2025 17:40

JoyousGreyOrca · 02/03/2025 17:13

@HoraceCope Most of my friends are in the trades. Being fit enough to work in the trades is rare for older people. Most of my friends are fit, but they have bad knees and can no longer kneel or crawl. have bad backs and can no longer carry loads. None of them are in the trades after 60. The only people I know who are is one painter and decorator, and people who run their own firm and employ people so can do the easy physical stuff.

Maybe they could be involved in training the next generation of trades.

abracadabra1980 · 05/03/2025 21:51

I have lost my BF and 5 other acquaintances (friends of friends, partners of friends) to cancer before 53. All had children they left behind. I'm not prepared to take that chance and have semi retired age 58. I was fortunate enough to have a dad who educated me about pensions and I think it's a disgrace that it isn't taught as a compulsory subject in schools.

Lifestooshort71 · 05/03/2025 22:00

WaHaHa99 · 02/03/2025 17:03

The state can no longer afford to support all retired people.for 30 years.

We all have to work to fund our own retirements. What other option do we have?

Current retirement age is 67, or whatever. If you can't do your current job, then you'll have to find another one.

Perhaps we'll all have to have a few careers. Absolutely a fire fighter can't work until 7p, but that doesn't mean that they can't be a librarian, or whatever.

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Not many people live to 97.

Local councils have let most librarians go - perhaps they became firefighters.

JoyousGreyOrca · 05/03/2025 22:05

TheignT · 02/03/2025 17:40

Maybe they could be involved in training the next generation of trades.

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Being a teacher is a specific skill. And there is very few jobs doing this.

ItShouldntHappenToMeYet · 05/03/2025 22:06

TigerRag · 10/02/2025 16:21

Totally not the point - but if older folk are taking the jobs, what about younger people and the lack of jobs?

And what jobs would older people be doing? I couldn't imagine a 70 year old firefighter, surgeon, etc

The first ageist post almost immediately
House point

DrFosterWentToGloucester23 · 05/03/2025 22:17

It isn’t. You can retire from 57 and draw a pension but you obviously don’t get as much as if you worked to 68. So, if you are hoping to retire early (I am!), then you have to factor this in to your calculations. There are lots of useful calculators on the TPS website.

* forgot to quote post I was replying to! *

JoyousGreyOrca · 05/03/2025 22:22

DrFosterWentToGloucester23 · 05/03/2025 22:17

It isn’t. You can retire from 57 and draw a pension but you obviously don’t get as much as if you worked to 68. So, if you are hoping to retire early (I am!), then you have to factor this in to your calculations. There are lots of useful calculators on the TPS website.

* forgot to quote post I was replying to! *

Edited

You have to have a large pension to make this possible.
Its fine saying you can retire from 57, but if your pension from 57 will be £3200 a year, then you cant.
What you really mean is if you are well off, you can retire early.

Mademetoxic · 05/03/2025 23:11

abracadabra1980 · 05/03/2025 21:51

I have lost my BF and 5 other acquaintances (friends of friends, partners of friends) to cancer before 53. All had children they left behind. I'm not prepared to take that chance and have semi retired age 58. I was fortunate enough to have a dad who educated me about pensions and I think it's a disgrace that it isn't taught as a compulsory subject in schools.

When you are 15/16, talking about pensions which you may never even see is just pointless. Plus will go over their heads if it will be taught. It isn't relevant for a teenager.

It's good you are semi retired at that age. Many people cannot afford to do that and have no choice but to carry in working.

I am early 30s and quite frankly will probably be working until my deathbed.

Poppyseeds79 · 05/03/2025 23:57

I work in the care sector. I've seen loads of folk come back part time as they can't survive on state pensions alone. The work can be back breaking though, and isn't exactly the best paid either. It's crazy there's some people caring for others with not even much of an age gap in between, it's literally luck of the draw if you remain in a physically fit position to be able to do it or not. There's no such thing as a comfortable retirement these days for many.

Willyoujustbequiet · 06/03/2025 00:55

Funykeudfh · 10/02/2025 16:37

The state pension is a bonus really let's be honest. It should be viewed as an extra and not relied on. Its making me laugh on this thread where everyone is saying 'I couldn't still teach age 71' 'I can't imagine a 70 year old firefighter' - two professions where they definitely do not need to rely on or wait until state pension age to retire - they have fabulous pensions!

I'm 40 and I'm saving hard for retirement (despite also paying nursery fees) and overpaying my mortgage (can only afford £100 per month but its something)

We all have a responsibility to save for our own retirement and the state pension must not be relied upon.

It also doesn't dictate what age you choose to retire just FYI - minimum pension age is 55 rising to 57 at the moment.

Some people are simply unable to save for their retirement - full time carers of disabled children, many disabled people themselves.

They have no choice but to rely on it. It's not a bonus. It's their survival.

Iamallowedtodisagreewithyou · 06/03/2025 08:06

Poppyseeds79 · 05/03/2025 23:57

I work in the care sector. I've seen loads of folk come back part time as they can't survive on state pensions alone. The work can be back breaking though, and isn't exactly the best paid either. It's crazy there's some people caring for others with not even much of an age gap in between, it's literally luck of the draw if you remain in a physically fit position to be able to do it or not. There's no such thing as a comfortable retirement these days for many.

Me too @Poppyseeds79

In fact,, I know at least 10 care assistants who are older than the people they care for in the care home.