How is not older age groups who failed to save enough for such a long life? Not the best use of English there.
It's not about saving if you only work on a low wage the point is all those old people have paid tax and off takes all there lives and now the goal posts have moved and they will not receive a state pension unless they live till I believe over sixty seven.what is even worse women on not equal pay. There don't receive there pension till sixty five
" Do all old people therefore stink of piss and can't remember things??? " Only when I forget where the toilet is and then sit down in front of a log fire.
I got my pension forecast from the DWP and muggins here has to work to 68 to get me dosh Mind you, it'll be longer for you younger types (not you, Jimmy )
I Sid will you be climbing up and working on chimneys.thats what the government want sixty eight year old me working on chimneys.the young ones will say you get the same pay get up there
Vincent, I am in the 30-40 year old bracket and don't understand your gripe. My age group are well employed, paying tax and NI, will get no state second pension and are looking at getting our lower level state pension in our seventies due to increasing longevity. Personally I realise the situation and understand I will have to save to retire at any kind of reasonable age. You may not have had the "luxury" of having this spelled out to you in previous years, but I struggle to see how you are hard done to in comparison. BTW I really respect you as a poster and enjoy reading what you have to say, it's just this woe is me attitude from certain age groups, including mine, when in reality the under 25s have a **** time in general and can only dream of some of the opportunities and privileges that some of our age groups have experienced. Sorry for the rant, but young uns today have it hard and we may not have had the ideal set up, but **** me think about the house prices, 25%+ unemployment, international competition for jobs, supporting a huge number of baby boomers who can expect to live for 20 years past retirement on average from a pool of workers that are diminished. The list goes on and on and I'm not even talking about myself here.
As a 75 yo ex UK tax payer from 15-65 yo working life I know I will never recover my NI payments via my UK pension. Thought part of the OP was also about treatment of older ones doing heavyish Manuel work when fitter younger ones watched. Some self respect missing there by younger ones for the elderly.
Fair dos Nostalgic. Peoples different skills and abilities should be recognised, used and developed rather than folk being edged out with no thought for what they might be able to do. Sorry Vincent, sure it's a tough thing for you, it's an emotive topic with no easy answers. I guess any grouping of people by age ignores the individual, which sounds like what is happening to you. Hope it works out mate, didn't mean any offence
I've paid into National Insurance since I was 15 y/o , that's where my pension is supposed to come from. It's not my fault if successive governments have decided to squander my contributions on other ****e.
Sorry mate, you appear to be an intelligent bloke but you don't half toe the party line. I was made redundant in 1979 with two young kids and a mortgage, in an area (Derwentside) with 79% unemployment, so I had to up sticks and move away, taking up a job completely diverse to the skills I had. I am now about to retire on an excellent Public Sector pension, as I contemplate my salary being reduced by 50% I hear of the salary Gareth Bale will ”earn” and said to my son, that if I had earned my current salary all of my service, Bale's weekly wage will be more than I have earned in 32 years service in the Public Sector. In my previous life (before Public Sector) I was a shop steward in the AUEW and very much into politics. At that time we were sold the utopian vision of working for twenty years and retiring at a relatively young age on full salary to make way for a younger more able workforce. This would be financed by the onset of nuclear fuel and a world dominating manufacturing industry. There is now no manufacturing industry to speak of and nuclear fuel is a subject of ridicule, the only people retiring early in this utopian world are the politicians, mega rich and the bankers who have caused the financial crisis that is preventing the quality of life that we were promised so long ago. Rant over, but take it from me you young uns will suffer the same fate as we “baby boomers” if you continue to believe the diatribe spoken by the establishment.
Thai you for you opinion and I do understand your point.remmember in the seventys and eighties the interest was high and it was difficult for the working man to make ends meet never the less thanks for you reply
Monty, I know I will suffer the same fate but don't know that there is an easy answer apart from realisation and doing the best for yourself with this knowledge. I left friends, family, the NE and a job for better prospects but no job and it's worked out so far. I am doing my best with what I have. I'm sure everyone else is too. You are fortunate to have a final salary pension as you say. This is one of the privileges I was alluding to that young ones (and myself) don't and never will have. To buy a £12500 per year pension with inflation proofing and spouses benefit would cost pushing £0.5m for a 65 year old man. That's a lot of saving when you can't get a job or start life with £30k debt out of university. I kinda know where you're coming from but think the truth is we're all in the **** barring the fortunate few, as you say. My point was that some are more in the **** than others IMO and they are those leaving school now. Again, sorry for offending anyone and if anyone knows the answer other than hard graft, where able and available, I'd love to hear it!
Vincent good point, we all have our ups and downs. You are having a hard time again now and I'm sorry to hear it mate. Guys at work should give you respect IMO but it doesn't mean we're all bastards and have it easy you know! Like I say hope it works out and thanks for the posts, it's made me think
Hettonist, you are right of course; I just don't buy the rhetoric surrounding public sector pensions being the nemesis of modern society. To begin with my pension was part of the terms and conditions that I signed up to and the very reason that my salary is way behind the private sector for a similar role. I have had some extremely rough times during my service and seen some terrible things but my colleagues and I persevered because we had a career and a good pension to look forward to. Public Sector pensions account for 1.9% of GDP so they are not the reason the country is struggling. A substantial percentage of our GDP is frittered away on the bureaucracy introduced by ministers to provide accountability and apportion blame. Too many chiefs and not enough Indians is the simplistic reason this country is struggling, too many managers on £100k+ and not enough front line workers on £25k. Oh! and I know how worrying student debt is, my son has just returned to University as a post graduate doing a PGCE.
Monty, agree with you that public sector pensions are not the nemesis and you will have been paid less and deserve what you will get. Are they affordable in the future for new workers and is the pay gap as great now? I don't know, but I wouldn't begrudge anyone out of jealousy. Hope your son gets a decent job with some enthusiastic young uns at the end of it. Proper career that like. Have enjoyed the craic, thanks for taking time out instead of just saying **** off!
After 2015 and the "Fair Deal" for Public Sector pensions, they will definitely be affordable (I am just pleased that it will not affect me). Staff will pay increased contributions for a career average pension, with a new retirement age of state pension age. Effectively, you will have Fire Fighters, Teachers, Police and Prison staff working to 70 years old and not able to effectively carry out their duties. Most will die in service and no pension will be claimed with the exception of a tiny percentage as a widow’s pension. Now I promise, that's me off my high horse.
