Higher taxes and longer working lives

[Sysman]

They are already doing that.

Women age 54 born after 6 December are retiring at 65 with I think a years notice.

After that if the next government needs to speed up the retirement age to 68 for both men and women.

Which it's suppose to be when I am suppose to retire.

I've a feeling that women in a bracket older than that already had their retirement age raised from 60.

[Sysman]

She is lucky.

Lots of the old people I've met and know receive less than when they were working.

Though as they don't have to pay for getting to work, mortgages are paid off/council rent is low and their children are grown up they don't feel worse off.

My father got early retirement at 55, paid the mortgage off, and in those days the dole was still earnings related. He reckoned that without the mortgage, cost of travel to work etc he was only about a fiver a week worse off.

Initially anyway. After a few months off he went self employed (and did nicely out of that). Council rates and water tax inflation would have definitely hurt if he hadn't started working again; within not too many years the two combined were a lot more than his mortgage had ever been.