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People working until 70

I saw part of the below video on good morning britain this morning (didnt quite catch the whole thing).
But basically, they were discussing people working until they are 70.
Should people be encouraged to work until they are 70? Or should they be able to retire at 60/65 or whatever age?
What are your thoughts?

Baby Boomers Told ‘70 Is the New 50’ as Pensioners Urged Back to Work - YouTube

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Reply 1

I have utterly no intention of retiring. As long as I am physically and mentally able, I will be at work.

Reply 2

Original post
by ErasistratusV
I have utterly no intention of retiring. As long as I am physically and mentally able, I will be at work.

I take it that's because you love what you do?
To be honest i think we should not have to work until 70.
We should be able to retire at 60-65 and be able to enjoy the rest of our lives to spend time with family (e.g. look after grandchildren) go on holiday, do hobbies etc. If people have paid into the system then they should be able to retire at a reasonable age.
What about manual jobs? People who work in offices may be able to work until 70, but people whos jobs include manual work/heavy lifting/running round on their feet all day will be less likely to be able to carry on until 70.
People retiring will also free up jobs for younger people to get jobs. People working until 70, will free up less jobs for younger people.
What if people loose their job at age 50-60, for example through redundancy. They will find it harder to get jobs than younger people.

Reply 4

Original post
by Quady
I take it that's because you love what you do?

Absolutely

Reply 5

Original post
by Emma:-)
To be honest i think we should not have to work until 70.
We should be able to retire at 60-65 and be able to enjoy the rest of our lives to spend time with family (e.g. look after grandchildren) go on holiday, do hobbies etc. If people have paid into the system then they should be able to retire at a reasonable age.
What about manual jobs? People who work in offices may be able to work until 70, but people whos jobs include manual work/heavy lifting/running round on their feet all day will be less likely to be able to carry on until 70.
People retiring will also free up jobs for younger people to get jobs. People working until 70, will free up less jobs for younger people.
What if people loose their job at age 50-60, for example through redundancy. They will find it harder to get jobs than younger people.

Save up and do so then?

Reply 6

I'd disagree heartily regarding employers being more keen to employ younger people merely because they are young.

In fact, I'd say a lot of the time, the opposite is true and my father would tell you the same from his time in business.

If you have the ability to get out of bed and turn up for work on time, you'll never be unemployed. Not in today's economy.

Reply 7

Original post
by ErasistratusV
I'd disagree heartily regarding employers being more keen to employ younger people merely because they are young.
In fact, I'd say a lot of the time, the opposite is true and my father would tell you the same from his time in business.
If you have the ability to get out of bed and turn up for work on time, you'll never be unemployed. Not in today's economy.

Today's economy?

When we're the good ol' days when this wasn't so?

Reply 8

Original post
by Quady
Today's economy?
When we're the good ol' days when this wasn't so?


Back in the 60's, 70's and 80's when the economy was structured very differently with lots of people employed by big (sometimes nationally or state-owned) companies that would collapse and then make thousands of people redundant at a single stroke. This would then saturate whole localities with unemployed people who were also generally less mobile because of housing and transportation reasons (a significant number of people did not own their own car in the post-war decades, today you'll see 2 or 3 vehicles outside of many houses).

Today's economy is a lot larger and a lot more diverse. That brings it's own challenges and problems of course (I'm not sure there is such thing as a job for life any more in truth) but in general there is more opportunity I would say. I say this because I am in contact with a lot of people in a lot of different vocations and industries whose main complaint for some years has been a complete lack of willing (note I did not say skilled) labour.

Reply 9

Original post
by ErasistratusV
Back in the 60's, 70's and 80's when the economy was structured very differently with lots of people employed by big (sometimes nationally or state-owned) companies that would collapse and then make thousands of people redundant at a single stroke. This would then saturate whole localities with unemployed people who were also generally less mobile because of housing and transportation reasons (a significant number of people did not own their own car in the post-war decades, today you'll see 2 or 3 vehicles outside of many houses).
Today's economy is a lot larger and a lot more diverse. That brings it's own challenges and problems of course (I'm not sure there is such thing as a job for life any more in truth) but in general there is more opportunity I would say. I say this because I am in contact with a lot of people in a lot of different vocations and industries whose main complaint for some years has been a complete lack of willing (note I did not say skilled) labour.

OK, but that's kinda the opposite of what your previous posts says once you apply the negatives / double negatives used.

For example:

'If you have the ability to get out of bed and turn up for work on time, you'll never be unemployed. Not in today's economy.'

The second sentence turns the first into a falsehood. The first sentence has a double negative, so it effectively says in today's economy you'll remain unemployed if you [only] have the ability to get out of bed and turn up for work on time.

Reply 10

Original post
by ErasistratusV
Absolutely

What do you do?

Reply 11

I didn't watch the video but something like this is inevitable. The ratio of pensioners to workers is rising and with it comes concomitant state pension costs, healthcare costs and social care costs. We either tax workers to oblivion or look for methods to cut costs.

Younger people who don't wish to work until they are 70 need to start financial planning now because they are unlikely to have the benefits enjoyed by the current crop of OAPs.

Reply 12

Original post
by Quady
OK, but that's kinda the opposite of what your previous posts says once you apply the negatives / double negatives used.
For example:
'If you have the ability to get out of bed and turn up for work on time, you'll never be unemployed. Not in today's economy.'
The second sentence turns the first into a falsehood. The first sentence has a double negative, so it effectively says in today's economy you'll remain unemployed if you [only] have the ability to get out of bed and turn up for work on time.

It's not the opposite of what I wrote nor was that the intention of what I wrote.

I stated that there are good prospects today. I categorically did not state that it was better in the good old days. I know that purely because statistics from the good old days did not make great reading, not least on a background of pretty crazy interest rates at times.

Whilst today has it's own problems and there is still youth unemployment and structural issues in several regions, the work prospects today are far better than they were in the 60s 70s or 80s.

Feel free to discuss the above, rather than criticise my command of the use of English language.

Reply 13

Original post
by stilllearning123
What do you do?


In reality what I have done or what I do makes no difference. I enjoy whatever work I enjoy which will be very different to the next person.

If you enjoy your work then you're better off than probably the bulk of the working population irrespective of how much you earn.

Reply 14

Original post
by ErasistratusV
It's not the opposite of what I wrote nor was that the intention of what I wrote.
I stated that there are good prospects today. I categorically did not state that it was better in the good old days. I know that purely because statistics from the good old days did not make great reading, not least on a background of pretty crazy interest rates at times.
Whilst today has it's own problems and there is still youth unemployment and structural issues in several regions, the work prospects today are far better than they were in the 60s 70s or 80s.
Feel free to discuss the above, rather than criticise my command of the use of English language.

OK, I'll ignore you saying 'If you have the ability to get out of bed and turn up for work on time, you'll never be unemployed. Not in today's economy.'

I'll work on the basis that you're saying job opportunities are easier to come by now than in the 1960s, 70s and 80s.

On what basis?

Unemployment averaged 2.7% in the 1960s, today its 4.4%. Surely 50% more people are finding it harder?

Reply 15

Original post
by Quady
OK, I'll ignore you saying 'If you have the ability to get out of bed and turn up for work on time, you'll never be unemployed. Not in today's economy.'
I'll work on the basis that you're saying job opportunities are easier to come by now than in the 1960s, 70s and 80s.
On what basis?
Unemployment averaged 2.7% in the 1960s, today its 4.4%. Surely 50% more people are finding it harder?

Raw unemployment data tells you little to nothing though in reality.

2%, 5% or 10%, it tells you nothing. What is the reason those people are out of work in the first place? What barriers do they have to finding work? Are they genuinely unemployed or technically unemployed because of their circumstances? Are they actually able to work?

I'll reiterate though: if you have the ability to get out of bed and be at work on time you're already employable.
It's madness that's what it is.
Doesn't surprise me, but it's madness.

No I absolutely do not think people should have to work until 70. I think they should have the opportunity to, if they want to, but they should be entitled to state pension much earlier than that.
The state pension age as it stands is already too high.

Reply 17

Original post
by ErasistratusV
Raw unemployment data tells you little to nothing though in reality.
2%, 5% or 10%, it tells you nothing. What is the reason those people are out of work in the first place? What barriers do they have to finding work? Are they genuinely unemployed or technically unemployed because of their circumstances? Are they actually able to work?
I'll reiterate though: if you have the ability to get out of bed and be at work on time you're already employable.

OK, so your saying your assertion is unmeasureable so cannot be evidenced by quantitative analysis.

So you're asking us to take on trust your qualitative assertion.

Reply 18

Original post
by PinkMobilePhone
It's madness that's what it is.
Doesn't surprise me, but it's madness.
No I absolutely do not think people should have to work until 70. I think they should have the opportunity to, if they want to, but they should be entitled to state pension much earlier than that.
The state pension age as it stands is already too high.

I'm gonna go out on a limb and speculate you think the payments are too low as well?

Reply 19

Original post
by PinkMobilePhone
It's madness that's what it is.
Doesn't surprise me, but it's madness.
No I absolutely do not think people should have to work until 70. I think they should have the opportunity to, if they want to, but they should be entitled to state pension much earlier than that.
The state pension age as it stands is already too high.


I disagree.

In general people are living longer.

However, this is despite the fact as a population we are becoming more and more sedentary and carrying a greater burden of chronic disease. Many of these diseases are linked to lifestyle and that makes them modifiable.

People need a reason to get out of bed in the morning. If you examine the way that isolated or native tribal or nomadic communities of people live, the grandparents do not get a free pass to do nothing but sit around the campfire all day: they are put to work the same as everyone else.

The less activity people do and the less occupational time they spend, the quicker rate of physical and cognitive decline accelerates. You lose bone and muscle mass as you age, low activity levels only serve to encourage that and the level of functional ability declines, too. Much research is suggesting that cognitive decline can be modified, too.

I think the nub of it is this: if you want to spend 20 years in retirement playing golf and having lavish holidays then fine, that's great but you're going to have to finance it and that means saving a lot of money whilst you work. The state pension these days does not go far so in reality letting people retire at 50, 55 or 65 is of little benefit anyway. There is nothing stopping you retiring at 40 if you have the cash to pay for it.
(edited 9 months ago)

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