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Re: Tories plan to raise the state pension age to 75 over the next 16 years

Posted: Thu Oct 03, 2019 2:58 pm
by William Joseph1
expressman33 wrote:
Thu Oct 03, 2019 2:12 pm
Defeat for women in state pension age challenge https://www.bbc.co.uk/news/business-49917315
Nothing surprising here. Verdict as expected . Equality the new buzzword.

Personally though I think the government of the time could have been more caring and informed all of those personally who would have been affected by this at the time. Having said that, I am surprised that people were/are not aware and keep them selves up to date of current affairs.

Re: Tories plan to raise the state pension age to 75 over the next 16 years

Posted: Thu Oct 03, 2019 3:24 pm
by AAAlphaThunder
planteria wrote:
Thu Oct 03, 2019 2:47 pm
the verdict is correct, of course. this is the new reality, equality from the state. and we all need to try to put some aside for the future through Pensions/ISAs/other investments, alongside.
Every man for himself.
If you want a comfortable retirement then you must plan for it. The state is not going to help you.

Re: Tories plan to raise the state pension age to 75 over the next 16 years

Posted: Fri Oct 04, 2019 8:56 am
by planteria
well, no, that's not right. the state is going to help, by providing the state pension. that's part of our retirement income. but yes, we all need to try to put some aside for the future too.

Re: Tories plan to raise the state pension age to 75 over the next 16 years

Posted: Fri Oct 04, 2019 5:50 pm
by expressman33
planteria wrote:
Fri Oct 04, 2019 8:56 am
well, no, that's not right. the state is going to help, by providing the state pension. that's part of our retirement income. but yes, we all need to try to put some aside for the future too.
and also Pension Credit https://www.gov.uk/pension-credit

Re: Tories plan to raise the state pension age to 75 over the next 16 years

Posted: Fri Oct 04, 2019 5:53 pm
by AAAlphaThunder
planteria wrote:
Fri Oct 04, 2019 8:56 am
well, no, that's not right. the state is going to help, by providing the state pension. that's part of our retirement income. but yes, we all need to try to put some aside for the future too.
If you want a comfortable retirement the state pension will not provide that level of peace of mind. The state pension will keep you living just above the breadline.

Re: Tories plan to raise the state pension age to 75 over the next 16 years

Posted: Fri Oct 04, 2019 5:59 pm
by expressman33
AAAlphaThunder wrote:
Fri Oct 04, 2019 5:53 pm
If you want a comfortable retirement the state pension will not provide that level of peace of mind. The state pension will keep you living just above the breadline.
Depends on your outgoings - if both myself and my wife just got the full new state pension ( currently £164.35 per week each ) we would be very comfortable

Re: Tories plan to raise the state pension age to 75 over the next 16 years

Posted: Fri Oct 04, 2019 9:45 pm
by jaytee
Following the stories in the the papers on 19/08/2019, about State Pension Age being raised to 75, Amber Rudd (the then Secretary of State for DWP) visited Plymouth the following day, and the following was reported in the local paper:

A government minister has set the mind of Plymouth's 20-somethings at ease, promising that future generations will not have to keep working until they are 75.

A report by the Tory think tank the Centre for Social Justice has suggested that the state pension age should be raised to 70 by 2028 and to 75 by 2035 to help boost the UK economy.

But Amber Rudd, the Work and Pensions Secretary, on a visit to Plymouth on Tuesday, said: “That is not government policy.

“The government policy is set at young people entering the workforce to retire at 68, and there’s no prospect of raising that age to 75. I would rule it out, yes.”

https://www.plymouthherald.co.uk/news/p ... nt-3231734

Re: Tories plan to raise the state pension age to 75 over the next 16 years

Posted: Fri Oct 04, 2019 10:53 pm
by expressman33
jaytee wrote:
Fri Oct 04, 2019 9:45 pm

“The government policy is set at young people entering the workforce to retire at 68, and there’s no prospect of raising that age to 75. I would rule it out, yes.”

https://www.plymouthherald.co.uk/news/p ... nt-3231734
but for MPs https://www.ipe.com/pensions/country-re ... 69.article
For each year of service, a pension is accrued at 1/40th of the member’s total annual remuneration - but is not payable until age 65

Re: Tories plan to raise the state pension age to 75 over the next 16 years

Posted: Sat Oct 05, 2019 8:42 am
by pabenny
jaytee wrote:
Fri Oct 04, 2019 9:45 pm
A government minister has set the mind of Plymouth's 20-somethings at ease, promising that future generations will not have to keep working until they are 75.
I wouldn't rely on promises made today about what a government will or won't do 20-30-40 years in the future.

Re: Tories plan to raise the state pension age to 75 over the next 16 years

Posted: Sat Oct 05, 2019 9:23 am
by Sarah
Yes, quite right, it's a ludicrously worthless promise.