Pension age should rise to 75 a Tory think tank has claimed Watch

Rock Fan
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Thoughts? https://www.independent.co.uk/news/u...box=1566127047
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Obolinda
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Umm, not sure what to think. Can't imagine ppl working at 70 but I guess it's possible. :dontknow: 2035, is a long time away, tbf
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Sorani
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(Original post by Obolinda)
Umm, not sure what to think. Can't imagine ppl working at 70 but I guess it's possible. :dontknow:
People used to work until their deaths, which is what I feel the end game is here.
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Notoriety
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By the time our generation is nearing that age, the retirement age is likely gonna be much higher as is life expectancy.
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Democracy
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They really do pick the most ironic names for their thinktanks :eyeball:

Anyway yeah, what can one say? If it comes to pass it's obvious which social groups will be most affected and which won't (spoiler: the biggest supporters of this policy don't need state pensions and will have retired comfortably long before that age anyway). It very much sounds like something more suited to the Victorian era than a wealthy 21st century country.

A normal, healthy society should allow for its older generation to be able to retire in peace and financial security instead of having to work until they die. Depressing stuff.

(Original post by Obolinda)
Umm, not sure what to think. Can't imagine ppl working at 70 but I guess it's possible. :dontknow:
Well I mean, anything's possible. Sending 10 year olds to work is also technically possible
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Obolinda
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(Original post by Democracy)
Well I mean, anything's possible. Sending 10 year olds to work is also technically possible
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jbrdodd
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Sounds terrible, working 40-50 years of your life is enough. You should be able to enjoy spending the rest of your life with your family rather than working all the time.
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Andrew97
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I’ll probably be dead before I reach 75.
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JanusGodofDoors
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This is tough, because it sounds unfair, BUT, given that the UK has a rapidly ageing population, together with rising life expectancy, this may just be something we have to do in order to keep the pension system working. It’s worth noting that if this forces people to keep working for longer, they may at least be in more technical roles rather than hard physical labour as the job market changes.
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Other_Owl
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Tories really want to raise it to 120.
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Just my opinion
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One day soon under 30's will do the maths and realise for them, the state pension is a Ponzi scheme.
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Neilos
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It seems high but people are living longer, many of them in poor health and requiring expensive care.

Someone has to pay for that, so we have to make hard choices... and I think the easiest solution is for people to work longer. I think 75 is too high right now, but in 30 or so years it likely won't be that unreasonable.
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Drewski
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Makes sense.

The pension age was set at a time when life expectancy was much lower, when you wouldn't be claiming it very long. Now you're claiming it for nigh on 20 years and the scheme wasn't set up for that.

Either claim it later, claim less, or raise taxes.
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AngeryPenguin
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(Original post by Democracy)
It very much sounds like something more suited to the Victorian era than a wealthy 21st century country.

A normal, healthy society should allow for its older generation to be able to retire in peace and financial security instead of having to work until they die. Depressing stuff.
Victorian Britain had a far younger populace.

People aged 60+ are the only increasing age group in the UK.

Pension spending increased from 3% of GDP in 1950 to 8% today. The proportion of pensioners per taxpayer is always rapidly increasing:




I'm not a fan of the Tories - in fact, I think I've roundly criticised them for propping up pensions - but it's necessary to slow the spiralling economic costs of our ageing population.

It's not even in their party interests - pensioners are always far more conservative voters than the working elderly.
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Burton Bridge
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Tories don't like tax funded state funded payments to the masses, am I supposed to be surprised?
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DarthRoar
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*Think-tank is labelled right-of-centre*

ITS A TORY THINK TANK EVERYBODY, A TORY THINK TANK
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Reue
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The State* Pension Age.

My thoughts are that anyone with enough intelligence to be discussing such issues on here should not rely on the state pension in any shape or form. Plan to support yourself through personal savings and private pension.
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Burton Bridge
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(Original post by Reue)
The State* Pension Age.

My thoughts are that anyone with enough intelligence to be discussing such issues on here should not rely on the state pension in any shape or form. Plan to support yourself through personal savings and private pension.
Agreed but that's a hell of a lot more difficult than you may think, immeasurably more so than people in their current retirement had it.
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Reue
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(Original post by Burton Bridge)
Agreed but that's a hell of a lot more difficult than you may think, immeasurably more so than people in their current retirement had it.
I don’t think it is, as long as you start young.
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Burton Bridge
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(Original post by Reue)
I don’t think it is, as long as you start young.
Well, all I'll say is good luck. The work place 'pension' scheme is a gift to the financial service industry rather than. Serious benefit to the masses.

There are not many quality pensions nowadays left.
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