Retirement postponed to 75?

Sandancers said:
To slightly change that, I'd suggest Socialism would work just fine if it wasn't for one unchangeable fact..........................................Human Nature !! In that there are some people who WANT as in REALLY NEED to be in charge and have everyone doing as they say. Such as Joe Stalin and Chairman Mao. Many others I could name.

Think it was said somewhere that the best ruler for any society would be a BENIGN Dictator. Finding a Dictator is the easy bit, finding a one who is benign is, so far, impossible !
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Socialism is also based on sharing. Something called greed very much gets in the way of that . . there are so many aspects of human nature that prevents socialism from ever working.
 
MichelleRyall said:
I work in a secondary school and the idea of a 74 year old P.E teacher is hilarious. Now I know many seventy year old who run marathons but kids in a school would just take the mickey. The sickness rate in many jobs due to stress and poor health would increase massively too so who would be the winners ?
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My wife was a secondary schoolteacher. Only idiots think it’s a cushy job. It drains you to the core.
 
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busby said:
I didn't say no heavy manual work,,i said very little...Did manual work for the first 30 years of my working life before i was immobilised with RA,,Nearly beat that now,,BUSBY:D:D
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That’s fine for the first 30 years.
It’s the last 10 doing manual work is f****** hard ?
 
Makingtrax said:
My wife was a secondary schoolteacher. Only idiots think it’s a cushy job. It drains you to the core.
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My daughter is 3 years in ( secondary) and when people say what great holidays they get I want to smack them in the face. She is still very young and enthusiastic but the thought of another 49 years is terrifying.
 
MichelleRyall said:
My daughter is 3 years in ( secondary) and when people say what great holidays they get I want to smack them in the face. She is still very young and enthusiastic but the thought of another 49 years is terrifying.
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Tell her to put some money aside and retire early. Too many folk buy expensive houses, cars and toys and complain they're poor. No way should any teacher with common sense, need to work past 60. My missus did it at 50.
 
Yorick said:
Tell her to put some money aside and retire early. Too many folk buy expensive houses, cars and toys and complain they're poor. No way should any teacher with common sense, need to work past 60. My missus did it at 50.
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Perhaps not all teachers, or anyone else for that matter are in the same position as your missus and yourself,different commitments, responsibilities etc.

Not everyone is able to save the substantial amount required to retire without pension 15/20 years early and not down to luxury spending, believe it or not many of us struggled to save anything for many years.

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Yorick said:
Tell her to put some money aside and retire early. Too many folk buy expensive houses, cars and toys and complain they're poor. No way should any teacher with common sense, need to work past 60. My missus did it at 50.
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No teacher can retire at 50, all you can do is give up work, which you can do at any age.

55 is the minimum age, and then you have to take a hit of 5% on your pension for every year under 60, unless you are made redundant due to falling numbers say. Or don’t take your pension out.

My wife retired at 55 and lost 25% of her pension, but she’d had enough. The increasing paperwork, hours of work and energy levels required by teenagers was burning her out. She worked most evenings and most Sundays.
 
matamoros said:
Perhaps not all teachers, or anyone else for that matter are in the same position as your missus and yourself,different commitments, responsibilities etc.

Not everyone is able to save the substantial amount required to retire without pension 15/20 years early and not down to luxury spending, believe it or not many of us struggled to save anything for many years.
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It amazes me this comparison of the youth of today with our generation.

We were supposed to have had it so good. But I don’t remember weddings in Thailand, honeymoons in Mexico and stag dos in Las Vegas. We had mortgage rates at 15%, holidays in Rhyl and 2nd hand cars. ;)
 
An earlier post said someone was lucky to live in Scotland. I don't think so, I live there and the SNP have done more damage to the country than any other political party in history.

My wife, a high school teacher, retired at 55 because of constant changes and interference from the Scottish Government.
 
I don't have a party political view on this but anyone who thinks we pay enough NI and tax to retire at 65 or 60 and have the life expectancy we do now and a decent state pension is in cloud cuckoo land. Either the contributions need to go up a lot (or fairer increase vat to fund it otherwise us oldies will be expecting the youngsters to fund us a lot more than we funded the previous generations) or the pension will need to go down in real terms or we get the state pension later. All the talk of being too old to do this or that as people get older assumes they will be doing the same job which in todays employment market seems a bit of an old fashioned idea. Its like the firemen too old to climb ladders redeploy to fire prevention /fire risk assesments for private companies/etc. Why does a teacher have to stay a teacher they could work in many other fields. As I say I don't really support IDS in his views but it seems obvious to me a system set up envisaging a year or twos pension needs to change.
 
Makingtrax said:
It amazes me this comparison of the youth of today with our generation.

We were supposed to have had it so good. But I don’t remember weddings in Thailand, honeymoons in Mexico and stag dos in Las Vegas. We had mortgage rates at 15%, holidays in Rhyl and 2nd hand cars. ;)
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Stag night at the local,,married in a registry office and a honeymoon at my aunts was all i got,, :D2 :D2 BUSBY.

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busby said:
Stag night at the local,,married in a registry office and a honeymoon at my aunts was all i got,, :D2 :D2 BUSBY.
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:D2 Similar. Except the wedding night do was a barrel and music in my father in law’s garage! Imagine that today.
 
The Wino said:
I don't have a party political view on this but anyone who thinks we pay enough NI and tax to retire at 65 or 60 and have the life expectancy we do now and a decent state pension is in cloud cuckoo land. Either the contributions need to go up a lot (or fairer increase vat to fund it otherwise us oldies will be expecting the youngsters to fund us a lot more than we funded the previous generations) or the pension will need to go down in real terms or we get the state pension later. All the talk of being too old to do this or that as people get older assumes they will be doing the same job which in todays employment market seems a bit of an old fashioned idea. Its like the firemen too old to climb ladders redeploy to fire prevention /fire risk assesments for private companies/etc. Why does a teacher have to stay a teacher they could work in many other fields. As I say I don't really support IDS in his views but it seems obvious to me a system set up envisaging a year or twos pension needs to change.
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How is it elsewhere across Europe they can retire much earlier then?
 
I’m a firefighter. Joined at age of 34 after a career change as it was something that I had always been interested to do.
I’m on a 40 year service pension which means that I will be 74yrs when I can draw it.
For every year I don’t complete they deduct 5pcnt off my pension. I believe that there’s a threshold limit on this deduction which is good of them.(I think it’s 25pcnt max)
Incidentally I transferred my private pension into my fire service pension as everyone says it’s a good pension and 12yrs bought me 3yrs with the fire service pension. So fitness pending, I shall retire to pension at 71.
So, if the government thinks that I along with my colleagues can put a big ladder up and fight moor fires and rescue people at the age of 74 doing my job then I’m sure that they expect others doing a less physical job to do the same.
But I’m happy in the knowledge that an MP only has to serve two government terms (8 years) to receive a FULL MP’s pension for all of their hard work for their country.

And btw, for the last 10 years, our brigade has not given us a pay rise.
The fire service is not part of public sector pay when the government announces NHS, Teachers & Army etc to get 3pcnt.
The fire service has to negotiate with the national joint council.
Not that this is part of the OP but I thought I’d highlight what a mess everything really is.

So you retirees out there, enjoy life.
I salute you all but worry for my generation and the next as it’s a matter of time until the state pension is looked at by a government.
 
Gavlad's point about transferring one pension int another scheme reminded me of my transfer at age 33 from BA's Pilot Scheme where I had accrued 5 years to the British Airports' one which bought me 13 years. The difference was because the BA Scheme asllowed for retirement at 55 and the BAA one at 60, but in the BA Scheme one paid in 10.5% of one's salary, quite a chunk when one was on £5,000p.a. It just emphasises the point about having to pay higher contributions to get a decent pension.

One funny aspect of that transfer was that BAA's holiday entitlement was based on pensionable years so I got 5weeks and my boss who was 55 only got 4 weeks, which irked him - don't know why 'cos he never took them all.

Geoff
 
The Wino said:
All the talk of being too old to do this or that as people get older assumes they will be doing the same job which in todays employment market seems a bit of an old fashioned idea
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Couldn’t agree more.
I’m happy to be a stand in PM for 6 months.

I think that would entitle me to a decent pension ?

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I'm sure they're probably working on a follow-up to this proposal, something like, compulsory euthanasia at........ I dunno..........age 75 maybe?.......?
 
my wife worked all her life nursing had her pension pushed to 65 missed out the 60 retirement by one day she passed away last year at 65 and they want to raise the retirement age god help them...............Ian
 
Just to reset the mood slightly....

IDS the man behind this latest proposal tried to get us taxpayers to pay for his underpants

"If there were ever any doubts that Secretary of State for Work and Pensions Iain Duncan Smith is a very nasty bully of the highest order – as well as a hypocrite of the highest order – this little anecdote will surely remove them.

Around 10 years ago – when IDS was leader of the opposition – you may remember the ‘Betsygate‘ scandal when it was revealed he’d been using taxpayers’ money to pay his wife a wage for doing nothing.

In October 2003, a senior aide to IDS – Dr Vanessa Gearson – gave written evidence to the House of Commons Select Committee on Standards and Privileges about the scandal.

In her written statement Dr Gearson revealed that she had written an email to Conservative Central Office expressing her concerns about IDS claiming money from the taxpayer for his own personal expenses—for example his lunches, haircuts, food for his own home, a mirror for his flat, his laundry and – his underwear!

Even more revealing than the fact that IDS thinks the taxpayer should pay for his underpants, Dr Gearson also describes how after she sent the email, she was reduced to tears by an “extremely agitated” and “very angry” Duncan Smith after he called her to a meeting to demand that the offending email be “expunged” from the central server:

Mr Duncan Smith did not ask me for an explanation. He did not ask why I was concerned. Indeed, besides my own apology for having formalised the matter in the form of an email I did not utter another word as Mr Duncan Smith spoke without break. I was so distressed by his manner and conduct that I was reduced to tears in the meeting.
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You can see the whole written statement from Dr Gearson here: Broken Link Removed "

From Tom Prides Blog
 
Silver-Fox said:
Couldn’t agree more.
I’m happy to be a stand in PM for 6 months.

I think that would entitle me to a decent pension ?
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Me first!!!! Yes if we are all in it together we should really all be in it together defined contribution schemes only in the public sector and pensions at the same age as the state one (or an average of that on offer in the private sector). Public sector pay pegged to the average increase in the private sector so theres no haggling.

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Paddywack said:
How is it elsewhere across Europe they can retire much earlier then?
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In countries with a higher state pension and earlier retirement age, people have to pay more in social charges while they are working. If they stop working early (for health reasons) they may face a big deduction. Our NICs are relatively low compared to their social charges. Their state pensions still resemble unfunded Ponzi schemes, rather like ours.

Part of the solution for the UK would be to scrap the MP's pension scheme altogether, so they would get the same basic pension as their constituents, based on their NICs record. If MPs want to supplement their retirement income they would have the same opportunity to join a defined contribution private pension as we do, funding that out of their MP salary which is nearly 3 times the national average income. Insulating MPs from the consequences of their mismanagement of the UK economy needs to end. It would stop the increasing attacks on the state pension for political reasons.

I bet increasing the basic state pension would be given higher priority in every Budget. The state pension age would also drop.
 
nicholsong said:
Gavlad's point about transferring one pension int another scheme reminded me of my transfer at age 33 from BA's Pilot Scheme where I had accrued 5 years to the British Airports' one which bought me 13 years. The difference was because the BA Scheme asllowed for retirement at 55 and the BAA one at 60, but in the BA Scheme one paid in 10.5% of one's salary, quite a chunk when one was on £5,000p.a. It just emphasises the point about having to pay higher contributions to get a decent pension.

One funny aspect of that transfer was that BAA's holiday entitlement was based on pensionable years so I got 5weeks and my boss who was 55 only got 4 weeks, which irked him - don't know why 'cos he never took them all.

Geoff
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The current firefighters pension is 14% - that’s what I have to pay. Work pays a contribution on top.
btw, the lump sum has been capped recently as well.
Good eh?
 
GAVLAD said:
The current firefighters pension is 14% - that’s what I have to pay. Work pays a contribution on top.
btw, the lump sum has been capped recently as well.
Good eh?
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After tax and national insurance if they took 14% as well there would be nothing left. Haha

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