State pension age keeps getting higher

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Yorkshire Lee

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December is supposed to be the month of cheer,that is until the government slipped out their new state pension ages,anyone in their 40's like me will not be able to retire until they're 68,can just imagine scaffolding at that age can't ya,I had cortisone injections at 39 what would you be like at 60,anyone in their 20's don't stand a chance it will have been raised to 70 by then,I am convinced the government are trying to kill us all off before we can claim any pension.I certainly wouldn't advise anyone paying into a pension fund all their working lives cos there is a very good chance you won't live to see it.
 
Unfortunately the only generation that benefit from the state pension is the baby boomer generation born between 1945 and 1962(apparently this is a measured generation), the state pension was introduced in the early 20th century and set at 65 years of age, at the time it practically cost the state very little as by then a large percentage of the working population would have passed away. Based on the fact that we are living longer the percentages today would work out that to be eligible today based upon the criteria set when introduced we would receive a pension until we were 100 years old.
Its a fact that that the population continues to age, the biggest cost social wise is now state pension, which we cannot really afford, unless you fancy paying a **** load more stoppages in your wage packet to guarantee your pension at 65, consider losing over half your earning in tax to cover it?
 
regfenster said:
Unfortunately the only generation that benefit from the state pension is the baby boomer generation born between 1945 and 1962(apparently this is a measured generation), the state pension was introduced in the early 20th century and set at 65 years of age, at the time it practically cost the state very little as by then a large percentage of the working population would have passed away. Based on the fact that we are living longer the percentages today would work out that to be eligible today based upon the criteria set when introduced we would receive a pension until we were 100 years old.
Its a fact that that the population continues to age, the biggest cost social wise is now state pension, which we cannot really afford, unless you fancy paying a **** load more stoppages in your wage packet to guarantee your pension at 65, consider losing over half your earning in tax to cover it?
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Some common sense, at last!
 
Private pensions arnt worth a tosss & everyone knows it, if you can ur better off nvesting in property even with a by 2 let .
Tbh i reckon that there wont be any money left anyway as the funds av been misused over the years. Was always sceptical of them in my youth beliving money i earnt today was for today & i'd worry about 2morror when it came but the older you get its obviously a concern- i know several scaffs in their 60s still on the spanners still turning a spanner as well as a 75 yr old that just can never seem to hang em up who had is own small company & kept a little gear back to do all privates etc, even after 2 heart attacks the crazy fool wont stop.
Dont most exscaffs get their taxi licence or run a pub lol
 
southernpoofter said:
Private pensions arnt worth a tosss & everyone knows it, if you can ur better off nvesting in property even with a by 2 let .
Tbh i reckon that there wont be any money left anyway as the funds av been misused over the years. Was always sceptical of them in my youth beliving money i earnt today was for today & i'd worry about 2morror when it came but the older you get its obviously a concern- i know several scaffs in their 60s still on the spanners still turning a spanner as well as a 75 yr old that just can never seem to hang em up who had is own small company & kept a little gear back to do all privates etc, even after 2 heart attacks the crazy fool wont stop.
Dont most exscaffs get their taxi licence or run a pub lol
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No pension is worth a great deal be that state or private, if you wanted a retirement that paid you £500 per week, based upon the current returns seen in the private sector you'd have to put in something around the 800k to million mark over your working lifetime which is frankly unrealistic, my fathers pensions have matured to the point that he has to buy a final financial product that will pay him a weekly allowance, over his working lifetime he's put 300k in the pot, this has netted him a measly £220 pw return.

Any scaffolder in his 40's in my honest opinion should really be thinking about his next career step as he will potentially have another 30 years of work to look forward too and your not going to last that long in this game.

Me personally have no pension private or state as I've opted out of that government scheme because its a load of ******** or another form of taxation for you and your employer which neither really want, I put my spare capital away in Isa's and the likes, the returns are small but a damn sight better than what you'd be seeing with a private pension plan, as mentioned above bricks and mortar are always a relatively safe bet too.
 
Yorkshire Lee said:
December is supposed to be the month of cheer,that is until the government slipped out their new state pension ages,anyone in their 40's like me will not be able to retire until they're 68,can just imagine scaffolding at that age can't ya,I had cortisone injections at 39 what would you be like at 60,anyone in their 20's don't stand a chance it will have been raised to 70 by then,I am convinced the government are trying to kill us all off before we can claim any pension.I certainly wouldn't advise anyone paying into a pension fund all their working lives cos there is a very good chance you won't live to see it.
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lee enjoy life but don't have any saveings or spare cash spunk it now and enjoy it now!! not later life!! thou the government are shitters they will help but not if you have spare cash so have nothing and your get help
 
State pensions should be based on your occupation for people like us it's hard doing scaffolding when your 70 but if I was a office worker I probaly could do it but are thoughts don't count lol it's like any thing that gets damaged when your work always comes back to scaffolders
 
Even when you work in the office employers dont seem to want to keep you after you turn 60.
 
That's very true. I always turned up my nose to pensions after taking out 2 different endowment mortgages when I was starting out. Now I just do a few different bits and pieces of my own, which may or may not be better than a pension but at least some snotty faced wee nyaff won't be coming to my door to tell me there has been a tsunami in timbuctoo and my pot is now empty.

The downside to that is obviously you have to be prepared to take a hit on the tax.
 
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