Doom: state pension age to rise again

[d000hg]

If they are high earning part time consultancy. Plenty of friends have retired and work a few days a week and take weeks/months off.

Sadly hard labour won't be a good career in this case. Though very fit people will be fine.

If you're a high earner you probably don't care about working until state retirement age. Loads of people aim to retire at 60 these days if they can... I think Covid has been a wake-up call to a generation to make the most of their good years.
Though the part time angle does also seem popular - not just for top earners but people wanting to ease into retirement or top up their pension. Quite a lot of people coming back part time after initially retiring as well.

[tazdevil]

If your job is your vocation and you have flexible working conditions then why retire? Wage slaves need not apply but those of us who work independently and especially from the home office then simply balancing the work/life seesaw is the ideal and provides funds for doing the life part fully This probably applies to a small percentage of the population though Experience counts and I'm earning more now than I ever have whilst also taking much more holiday just ageism is against me but as long as there's some work seam that I can mine then all's good and I'll get my fully paid up state pension this year too

Life's too short for retirement

[AtW]

If you do a desktop you can still do it at 70. Though to be fair I know/knew shopkeepers and builders who are working in their 70s, 80s and even 90s. Though the 90 year old works with his children who are retirement age as well and doesn't work all year round. (interestingly the older ones were children during the WWII.) Apparently some bus drivers are in their 70s, and lots of doctors use to work in their 70s and early 80s before the government screwed up NHS pensions and other factors.

Ok, where all these NEW jobs appear to cover for increased workforce?

Remote jobs that can be done sitting at a computer will be done in 3rd world countries.

[SueEllen]

Ok, where all these NEW jobs appear to cover for increased workforce?

What increased workforce? The problem is there isn't enough young people to pay for older people's pensions due to a fall in birth rate. Added to that some old people won't make it to state pension or even private pension age. This isn't only a problem in the UK but in other developed countries.

Remote jobs that can be done sitting at a computer will be done in 3rd world countries.

Thankfully some jobs require data and systems to stay in the UK.

And you can't be a face-to-face retailer or do building work in the UK if you are living in Cambodia or the Congo.

[Protagoras]

It would be much better to implement a proper state-backed pension scheme. One that would pay out enough to live on, absent other pensions, and one for which there is clear qualifying criteria and which pays out for early retirement on health grounds, for example.

If one needs 35 years' NI payments for full state pension, then one should be entitled to receive this after having paid in full for 35 years. Simple and fair. If to make the finances work, this needs to be 40 years, so be it.

A manual worker who starts work at 16 is generally unlikely to be fit for such work by his/her mid 50s.

We talk about part-time, consultancy, desk jobs etc on here as opportunities for older workers, but we are the not representative of 99% the workforce; rather, we are privileged knowledge workers (although it may not feel like it!).

[ladymuck]

It would be much better to implement a proper state-backed pension scheme. One that would pay out enough to live on, absent other pensions, and one for which there is clear qualifying criteria and which pays out for early retirement on health grounds, for example.

If one needs 35 years' NI payments for full state pension, then one should be entitled to receive this after having paid in full for 35 years. Simple and fair. If to make the finances work, this needs to be 40 years, so be it.

A manual worker who starts work at 16 is generally unlikely to be fit for such work by his/her mid 50s.

We talk about part-time, consultancy, desk jobs etc on here as opportunities for older workers, but we are the not representative of 99% the workforce; rather, we are privileged knowledge workers (although it may not feel like it!).

I agree with the principle but to change that would cost a fortune.

NI receipts at present pay for those currently drawing state pension (as I'm sure you well know). There is absolutely zero pension provision set aside for someone who is not of retirement age so to bring it forward for someone deemed medically unfit to work would throw all those calculations out the window.

As SE has mentioned, there aren't enough youngsters paying in to keep this ponzi scheme afloat and the whole thing needs radical rethinking.

[Protagoras]

As SE has mentioned, there aren't enough youngsters paying in to keep this ponzi scheme afloat and the whole thing needs radical rethinking.

+1.
And it won't be cheap, but the alternative is unsustainable - can't just keep increasing the state pension age and kicking the problem down the road.

[xoggoth]

What kind of paid jobs 65+ olds will be doing?

Hookers/escorts/rent boys for gerontophiles.

[vetran]

What increased workforce? The problem is there isn't enough young people to pay for older people's pensions due to a fall in birth rate. Added to that some old people won't make it to state pension or even private pension age. This isn't only a problem in the UK but in other developed countries.


Thankfully some jobs require data and systems to stay in the UK.

And you can't be a face-to-face retailer or do building work in the UK if you are living in Cambodia or the Congo.

You keep saying this but the facts say otherwise, until you are on higher rate tax you are normally a drain to the country.

https://ifs.org.uk/articles/seven-ch...ducating-child

https://www.kingsfund.org.uk/audio-v...ts-figures-nhs

council tax is £2000 roughly

just a few things people have to pay for from their tax, many don't pay that much.


Just doing a tender and thank goodness for UK GDPR we are still in the game, if we get it I probably will never visit the sites in the EU. But lots went to low cost countries decades ago but much is coming back automated e.g. chatbots. ChatGPT is going to wipe out lots of the low value technical stuff like cloud has done for infrastructure.

Construction will almost certainly convert to house printing & kits people creating unique shabby buildings is so outdated. Replacements will become modular just like cookers/fridges.

I buy most things off ebay or Amazon its in stock & cheap with decent technical support. Big computer stores are dead just like most of their staff's knowledge.

[AtW]

Hookers/escorts/rent boys for gerontophiles.

Niche market at best, how is it going to cope with massive increase in supply?