retirement age

[milanbenes]

Germany's putting official retirement age up to 70

what thinks thee 2 thaaaat

Milan.

[sadkingbilly]

WGAF?

[ladymuck]

I'm inclined to agree. The UK is at 67 (or will be) and there's plans to increase it further. With people routinely living longer, the cost of the state pension keeps increasing because all those shirkers on welfare receive more than they contribute. At some point, the government will run out of ways to tax the few remaining people still working and the whole ponzi scheme will fall apart.

[tazdevil]

I'm retiring at 75 or when no one will pay for my software anymore, but the OAP is useful extra cash 75 because I'll probably need to take it easier with increasing decrepitude by then and you have to pull your private pensions then anyway at 75. Then it'll be a lock up and go and endless SAGA cruises

[courtg9000]

I see the flip side of this one.
(usual health disclaimer)
I had to retire very young. By force effectively.
Its not the best place to be, retirement, trust me on this on this one.
Is 70 too late/old for retirement? - to be fair I don't actually know the right answer but I wouldn't go for a very long retirement personally. Much rather be working.

[malvolio]

I see the flip side of this one.
(usual health disclaimer)
I had to retire very young. By force effectively.
Its not the best place to be, retirement, trust me on this on this one.
Is 70 too late/old for retirement? - to be fair I don't actually know the right answer but I wouldn't go for a very long retirement personally. Much rather be working.

Says someone who enjoys their work and has a wide customer base....

I just got tired of repeating myself to a management layer who did t really understand their own business. OK, i was in strategic consultancy but i really cba to adapt yo yet another fad - cloud and SIAM, never mind AI...

Havent regretted it at all and keep busy doing stuff i enjoy.

YMMV, natch

[courtg9000]

Says someone who enjoys their work and has a wide customer base....

I suspect your retirement was quite a lot a later in life than mine for a start so hardly comparable.
One thing I also found out early on is that if you don't want to get caught up in IR35 you must find business models that IR35 does not apply to.
To operate 999/1000 of those you always need more than one customer at a time (oh and PS isn't necessarily the best idea)
So yes a wide customer base is key

[DoctorStrangelove]

Of the two Strangelove grandfathers, neither received an OAP pension.

One died at 64, the other worked until 78 when his dementia kicked in and was on National Assistance until he popped his clogs at 81.

[Protagoras]

There's retirement age, and state pension age.

The two are less related than they once were. Hardly anyone I know over 60 worked to state pension age. They use savings to fill in the gap years until state pension.

People doing manual jobs can't sustain these even into their mid-50s never mind 67+.

Maybe eligibility should be on xx years of contributions. So the manual worker starting work at 16 would get a state pension sooner than the graduate starting work at 22. Then this is another factor to consider in the business case for one's higher education.

I think that in principle we should be looking to reduce state pension age since 'healthy years' numbers are falling. The funding for this remains a challenge to be resolved.

[NotAllThere]

Maybe eligibility should be on xx years of contributions.

It is. 35 years is the max. Students don't get a credit unless they pay NI with some side job.

I don't plan on retiring until literally I can't work. I enjoy what I do. There's little stress. Maybe go to 50% once I'm 65 or so.