Working up to 70+UK ?

[Vulcan74]

With the announcement of 1700 jobs to go at Ford Bridgend, and with other job losses in the retail trade due to on line shopping etc. How does the government expect people to carry on working in to their 70's. Unless you have a whopping pension to fall back on where will be the jobs. Also with school leavers leaving school what are they supposed to do. Maybe the local supermarkets will take on 70 - 80 year olds?

[slogen51]

I must have missed this; I know there is no longer enforced retirement at 65 but is the pensionable age expected to rise to 70 anytime soon?

[Vulcan74]

It's been in the media for a while now that people will be working up to 70 before they get their state pension in the near distant future. Unless you have a whopping pension to fall back on then that would not be the case.

[MrBlueSky]

I'm still working at 68 only part time- my wife is 60 in September should have got her state pension then- but the kindly Millionaire politicians decided to put her state pension age up to 66- where is the fairness in that when she has worked all her life- and paid all her National Insurance contributions. So she has to keep working. Reason for me still working at 68, love the job and the people- also still have a mortgage-(and it allows me to go to Air Shows and on holiday twice a year,) due to having to start all over again at 42 due to getting divorced and losing everything. Feel sorry for those people in South Wales they have been hit the worst of any group of people in the UK with also the steel companies closing down as well.

Happy Days


Bob

[dollar99]

Pension was never forced at 65 you were always allowed to work on. You could take the pension or defer. Sadly those who campaigned for pension equality thought that the age for us chaps would come down to that of the ladies. Unfortunately, while there pension increased the age came up to meet ours and is slowly increasing due to our longer life span. If you want to retire early you have to sacrifice something early in life to benefit later, but as with all things it is a gamble!

[reheat module]

dollar99 nails it accurately.
I have put a number of posts in here in the past regarding pensions and data.
April this year saw a significant change in the minimum personal contribution.
In sum, a longer life and increasing generation demand needs care, NHS etc to be funded.
Work longer, pay taxes, contribute more.
I do feel sorry for those finding themselves out of work.
Sadly I fear those not having a contribution, saving for one, or low income currently 45+ WILL struggle later in life.