Work until you are fucked

Today London announced that anyone in their 40's will have to work until they are 70 years old before they can retire.
At this age after a hard working life you may just be fit for the knackers yard.
Who will this affect,mostly the poor they do not have private funding for late in life.
If you are younger than 40 this retirement age may go up even more.
Can you and will you work until 70,will you work until 70.

 

I'm going to win the Euromillions one day anyway.

 

im 22 so prob wont be able to claim state pension till im 80. doubt i'll make it much past 70 so im *.

see if you have a physically demanding job i.e construction, how the * do they expect a 70 year old to keep working? it can be knackering enough in your teens ffs

 

I'll never see 70

 

Has the SNP said anything regarding the retirement age in an independent Scotland ? They have missed a trick if they haven't as that could win them votes.

 

Am 45 in a few weeks time been in heavy construction most of my life,my knees,back wrists are knackerd now,will never get there

In all honesty am hoping to retire in 10 years that's if I reach 55

 

I think it has to be done.

Many people do not get a proper career until their mid or late 20s nowadays. Working for 40 years will take then to say 65 but then it is more than possible that they live another 30 years. And you cannot fund an aging population for longer while people work for less time. Realistically if people want to retire early then they need to pay for it themselves.

The problem arises however when people have to do physical jobs until they retire. A 69 year old fireman or P.E teacher doesn't really work. Similarly more people working longer means less available positions for younger people so the workplace will have to expand to cater for this.

But on the whole I see no point in moaning as it is utterly inevitable. People should be encouraged to save as much as possible as early as possible

 

This only came out today so we may hear something from them later,hope they take a different road on this.
could be a real vote winner.
They also said if its a no vote they will have another one in 2029.

 

Considering the average life expectancy in Shettleston is like 59 or something - this is madness.

How a worker in heavy industry can do this is beyond me. SNP need to pull their finger out and say something, regarding this. It seems the retirement age is going up and up. Twice now, under the Con-Lib coalition.

Can anyone tell me when this will come to fruition? Will the current crop of OAP's about to retire be affected?

 

Want it to change? Look at my picture.

 

That would get panned by Westminster. You can't have another referendum if it doesn't go your way. That's just sour grapes. This referendum will be conclusive.

 

* *. Vote Yes Scotland. This won't affect me anyway - I'm checking out at 23.

 

The pensionable age will rise to 68 in the mid-2030s, from its current date of 2046. And it will go up again, to 69, by the end of the 2040s.

The Government have already said the state pension age will rise to 66 by 2020, and 67 by 2028 – and these dates will not change.

That means that people aged 50 and under now will have to work until they are 68, three years higher than the current retirement age.

But the Chancellor will bring in a new pension-age rule, meaning that someone born in 1990 and entering the workforce now will not expect to retire until 70 by the end of the 2050s.

The state pension average had been due to rise to 68 in 2046. But because people are living for longer, Osborne will bring it forward to the early 2030s.

This will affect millions of people in their 40s and below.

 

I dont think its anything to worry about, a lot of us wont see 70 and if we do who knows what will be happening, pensioners in 50 years time will probably be playing the Playstation 20 and getting stoned all day.

 

Yip. I would also say anyone who is under 30 just now they should probably be prepared for state pension's being done away with, if not then probably means tested somehow. I am in my mid 40's and I will probably get state pension when I am 67/68 now.
As said, country cant afford it and neither in likelihood could an independent Scotland either.

On a positive note, I am an IFA and can provide individual advice, might even give "mates rates" for folk on here :icon_mrgreen:

 

* sake, I better move :bbpd::smiley-laughing002:

 

Is this affecting the whole country? If so, my yes vote may just have been secured...

 

As ridiculous as this is, in 30 years time, people will generally be healthier, life expectancy will be higher etc. A 70 year old today won't be as healthy/able to work as a 70 year old in 2043.

 

What makes you think that an independent Scotland can plug the deficit between the pension pot and pension spending?

I am all for independence but it seems to be almost becoming like some sort of fiscal Nirvana in peoples heads where numbers don't have to match, and everyone gets lots of free stuff.

People are starting work later, and living in retirement longer. Besides our love of deep fried food leading to lower life expectancy, there isn't going to be any difference whether Scotland is independent or not.