Think Tank: UK state pension age will soon need to rise to 71

[Orang Utan]

I worked all mine out over the weekend.

With State Pension and the two pensions I've put into myself, I'll have 19 grand a year to live off. Mortgage should be paid by then so I'll be alright but I might need a part-time job, too, I think. We'll definitely need a smaller house and Mrs V (who's self-employed, like yourself I'd imagine) will need an income in retirement. Apart from the 4 years where I buggered off to India and 6 months maternity leave that Mrs V took, we've both worked all our lives.

I'm not moaning. We've got it better than many. But retiring at 67/68 is fucking late enough, really, isn't it?

I wouldn’t even know how to begin to work all that out. I shall maintain my lifelong policy of not thinking about it too much.

 

[DaveCinzano]

I shall maintain my lifelong policy of not thinking about it too much.

174,246 messages here suggest otherwise

 

[Orang Utan]

174,246 messages here suggest otherwise

Surely they suggest the precise opposite?

 

[DaveCinzano]

Surely they suggest the precise opposite?

That's a mighty body of thoughtlessness then

 

[Orang Utan]

That's a mighty body of thoughtlessness then

I don’t understand. How is my record of nonsense on here demonstrative of sound financial planning?

 

[bcuster]

you can retire at 62, but you won't receive maximum benefits until 71

 

[DaveCinzano]

I don’t understand. How is my record of nonsense on here demonstrative of sound financial planning?

See, you can't help yourself - you're overthinking it!

 

[Orang Utan]

See, you can't help yourself - you're overthinking it!

Whatever you’re joking about has gone over my head

 

[Artaxerxes]

you can retire at 62, but you won't receive maximum benefits until 71

An extra quid

 

[SpookyFrank]

Wonder what percentage of these think tank cunts are likely to be dependent on a state pension.

They don't chip in for it either, thanks to their bullshit 'educational charity' tax-exempt status.

 

[StoneRoad]

sod that !
TBH, there aren't enough suitable jobs for the people currently of working age - witness the housing / cost-of-living crisis.
the whole situation will be made much worse if people who should be retired are still working / looking for P/T jobs to supplement the state pittance ...

However, if this load of vermin actually sorted out the tax evasion by their friends / paymasters / large companies, then there would actually be enough money to go around without demonising the vulnerable / elderly as scroungers. And we could happily accept refugees and have them contribute to society. [the "No recourse to public funds" policy is absurd]

 

[MickiQ]

Mrs Q (not quite 5 years younger than me) was greatly miffed to discover she will not get her state pension until 67, for years she has laboured under the belief she would get it at 66 like me. She is planning to retire this year (62) and draw her teachers final salary pension early though. Women get a rougher deal than men when it comes to pensions. if like Mrs Q they take a dozen or so years out to be a full time mum the state pays NI on their state pensions but they lose the contributing years to their private pensions making them smaller. Instead of 66% of her final salary she will get less than half.

 

[Sue]

They don't chip in for it either, thanks to their bullshit 'educational charity' tax-exempt status.

They don't pay enployee/employer NI?

 

[SpookyFrank]

They don't pay enployee/employer NI?

They probably pay all the VAT due on their hand-reared artisan cocaine as well but that has nothing to do with their spurious tax-exempt status either.

 

[Throbbing Angel]

you can retire at 62, but you won't receive maximum benefits until 71

Result!

Gruel all round?

Well, all round me anyway.

Cunts.

 

[Sue]

They probably pay all the VAT due on their hand-reared artisan cocaine as well but that has nothing to do with their spurious tax-exempt status either.

So they do or don't pay NI?

 

[SpookyFrank]

So they do or don't pay NI?

I'm certain that they do, just as I'm certain you actually can tell the difference between tax and NI contributions and are choosing to pretend otherwise just to be facetious.

 

[brogdale]

Guardian Article

Well this should cheer us all up on a Monday morning. OK, it's only a think-tank saying it and it's not policy but fucking hell ... 71?! I'll be proper knackered by then.

This quote's nice. Angus Hanton, co-founder of the thinktank, said:

“The over-60s should finance their own extra retirement years since they have received such generous treatment from the state,” he said.

Feel free to unleash your MIDDLE-AGED RAGE here.

The crucial part of the article:



The neoliberal consolidator state kills socialised healthcare, free at the point of delivery, to the extent that poorer workers 'lucky' enough to be fit until their 70s must work to pay for the declining health of the nation. Cunts.

 

[Orang Utan]

I'm certain that they do, just as I'm certain you actually can tell the difference between tax and NI contributions and are choosing to pretend otherwise just to be facetious.

You do know that state pensions are funded by National Insurance, not Income Tax, right?

 

[SpookyFrank]

You do know that state pensions are funded by National Insurance, not Income Tax, right?

NI is not ringfenced for pensions or any other specific benefit.

 

[Sue]

I'm certain that they do, just as I'm certain you actually can tell the difference between tax and NI contributions and are choosing to pretend otherwise just to be facetious.

I'm really not trying to be facetious. AFAIA, it's NI that pays for state pensions and not tax which is why I was trying to clarify this:

Wonder what percentage of these think tank cunts are likely to be dependent on a state pension.

They don't chip in for it either, thanks to their bullshit 'educational charity' tax-exempt status.

(Are you okay btw? You sound really cross a lot of the time which must be really tiring. )

 

[nottsgirl]

71! I can’t keep going until I’m 71. More and more people will leave the labour market due to preventable ill health, I will either get ill or never retire and be the last one standing. What a joke.

 

[danny la rouge]

What a joke.

Not a very funny one either.

 

[nottsgirl]

Not a very funny one either.

71!!!!

 

[nottsgirl]

I’ll have to have a long hard think about overpaying into my pension. What is the fucking point if I’ll be too old to enjoy it. I know I’m lucky to even be in this position.

 

[danny la rouge]

((((((nottsgirl ))))))

((((((People of Britain)))))

 

[Rebelda]

I doubt I could physically do my job at 71, even if I'm a sprightly 71. 35 more years of work is a horrible thought.

 

[Artaxerxes]

I’m forty and I can’t be fucked I can’t say I want to carry on till 71.

Luckily I don’t think I really expect to but still

 

[brogdale]

You do know that state pensions are funded by National Insurance, not Income Tax, right?

Nah, in reality it is not hypothecated...

 

[PTK]

I worked all mine out over the weekend.

With State Pension and the two pensions I've put into myself, I'll have 19 grand a year to live off. Mortgage should be paid by then so I'll be alright but I might need a part-time job, too, I think. We'll definitely need a smaller house and Mrs V (who's self-employed, like yourself I'd imagine) will need an income in retirement. Apart from the 4 years where I buggered off to India and 6 months maternity leave that Mrs V took, we've both worked all our lives.

I'm not moaning. We've got it better than many. But retiring at 67/68 is fucking late enough, really, isn't it?

19 Grand per year sounds pretty good to me.