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State Pension age set to rise to 71


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6 minutes ago, btb said:

Much of the media focussing on the likelihood of a rise in the State Pension age, I'll include one article to give a flavour of what's being proposed.

Brits warned they will have to work until they're 71 - millions to be impacted - Mirror Online

Surely anyone on a low wage under the age of, say, fifty knows by now that the only way they'll be retiring is in a body bag.

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18 minutes ago, BFTD said:

Surely anyone on a low wage under the age of, say, fifty knows by now that the only way they'll be retiring is in a body bag.

My mortgage is until I'm 69......

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13 minutes ago, Miguel Sanchez said:

The state pension won't exist by the time I'm old enough to collect it so I really don't care.

It'll end up being means tested imo, probably meaning that most folk with a private pension may as well have paid nothing extra in.

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If raising taxes / increasing borrowing / making pension means tested are not desirable options then raising the pension age is pretty much inevitable if medical science continues to ensure people live significantly longer than was previously the norm.  
 

Edited by Shadow Play
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4 minutes ago, MazzyStar said:

In France they rioted because of a proposal to raise the retirement age to 64…

That likely contributes to the fact public debt in France is approximately 112% to GDP.  In the UK it is 97%.

 

 

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1 minute ago, Shadow Play said:

That likely contributes to the fact public debt in France is approximately 112% to GDP.  In the UK it is 97%.

 

 

Just like the rest of the economy, it’s all fake

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It's not just the state pension itself, but those of us in the many of the public sector schemes have pensions that are linked to the state pension age. Yes, you can withdraw before then, but you take a reduction. My plans were to retire once mortgage was paid off and then use savings to bridge the gap before I could claim my pension a few years early so the reduction wasn't too acute. Will now have to run the numbers again. No way can I work until my late 60s in the NHS.

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