Flat-rate State Pension - Opinions?

[RasputinDude]

I think you're over-blowing the issue anyway, a lot of people retrain in their life without issue.

Yes I am, but only as a counter-argument to Formant's glib assertion that someone should retrain the moment their self-employment becomes unprofitable.

There are lots of people who re-train all the time, I agree. However there are also many people to whom study and training does not come naturally and who struggle to pick up new skills.

[minestrone]

As long as you have other money 144 quid a week is an OK sum to start you off. Feck having that alone though.

[The Spartan]

Well, there's pretty much an infinite supply of retail jobs for Mrs Shop Assistant, so I wouldn't be so worried about her ability to remain employed for enough years to qualify for a pension in her own right.

But if that's case why are you so concerned with those that put little into the system and yet are rewarded with Final Salary pensions? Hardly seems fair does it

[vetran]

Well, there's pretty much an infinite supply of retail jobs for Mrs Shop Assistant, so I wouldn't be so worried about her ability to remain employed for enough years to qualify for a pension in her own right.

Unfortunately the low skill & pay status of the retail jobs makes them the first choice of immigrants.
This allows companies to discard the older more experienced or the infirm and replace with cheaper and frequently better qualified.

Retraining is a big deal for most people, some Polymath's may find it easy but they are likely to be the highly paid & skilled such as the congregation of CUk.

[Platypus]

Have you looked at the NHS pay-bands for nurses for example? (Pay for nurses - NHS Careers). Firefighters (non-manament)? (Firefighter: Salary and conditions | Prospects.ac.uk)

No doubt there are also many grossly overpaid public sector workers, but the majority hit by this rarely make it to 30k/pa.

Well it's clear then, they should broaden skills-range, relocate, re-train, etc.

If they can't be arsed to do that then **** them.

[Lockhouse]

My problem is at 50 I'm caught between a rock and a hard place. Too old to retrain in a new career (and make anything meaningful of it), too old to relocate abroad (for anything other than retirement), too old to change my pension plans. I might just as well bend over and prepare to be shafted.

[vetran]

As long as you have other money 144 quid a week is an OK sum to start you off. Feck having that alone though.

You won't, you will have your private pension but they will take away your government pension until you only receive your private pension. That I always get annoyed about, the lack of active regulation that allows pension companies to return less than you put in (that is just incompetence) suggests you get done everywhere.

[RasputinDude]

My problem is at 50 I'm caught between a rock and a hard place. Too old to retrain in a new career (and make anything meaningful of it), too old to relocate abroad (for anything other than retirement), too old to change my pension plans. I might just as well bend over and prepare to be shafted.

Can't you just go to the magic skills tree and pick a few new skills? Or relocate to another part of the country? Why don't you just do another Masters Degree? It's only difficult if you let little things like the reality of life interfere.

[eek]

But if that's case why are you so concerned with those that put little into the system and yet are rewarded with Final Salary pensions? Hardly seems fair does it

Because that's what her partner is on. Her argument is that he is being hard done by. My argument was that everyone who cannot get a final salary pension is going to say tough luck there mate.

[formant]

Because that's what her partner is on. Her argument is that he is being hard done by. My argument was that everyone who cannot get a final salary pension is going to say tough luck there mate.

It's not. I feel more for my neighbours than I do for my partner. He makes a good enough salary to make up for it and at the end of the day, he'll still have that cushy final-salary-pension, despite paying more in the meantime. But I do think that you shouldn't take money specifically from one particular group of reliable (in some cases 'hard') workers and give it to all those who didn't work enough to qualify for a pension in their own right. If additional money is needed for this system (which allegedly will save us money), take it from everyone in the form of taxes.