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Pension age may hit 70

 
 
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paul
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PostPosted: Tue Aug 25, 2009 12:32 am    Post subject: Pension age may hit 70 Reply with quote

The state pension age in the UK could hit 70, according to the chairman of the UK's pensions regulator.

Does this affect your retirement plans?
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Kay
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PostPosted: Tue Aug 25, 2009 12:47 am    Post subject: Reply with quote

Not me, Paul. I 'retired' a while ago with no pension whatsoever. But I can see how this is a worrying development for many people. I just couldn't imagine having to work (be employed) until I was 70. That would be awful.

I decided that I would retire at 40 - and did (on my own merits - not as a dependent of anyone else, and not from any inheritance).
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adigaskell
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PostPosted: Tue Aug 25, 2009 9:19 am    Post subject: Reply with quote

This is long overdue. The thing is though no government have the balls to make such a change even though they know full well that unless they do its going to become a massive issue for the countries finances. Our demographics as they are simply don't provide enough working age people to cater for the rapidly growing retired population.
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jfslenes
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PostPosted: Tue Sep 08, 2009 6:45 am    Post subject: Unfunded Government Pension Costs = Bankrupt Governments Reply with quote

If the politicians were honest (well, if crap were gold, we'd all be rich), they would reign in the unreasonably rich pensions and pay of government employees. They'd also make their personal retirement benis more equal to the general publics.

It is stunning that the general public accepts the horrid results the people we supposedly employ provide for us, the public. Glenn Beck recently wrote a book titled, "Common Sense". It is a take off on a book by the same title by Thomas Paine, one of the founders of the US revolution. Quotes in the book from Washington, Franklin, and many others really are insightful in light of todays economic and legislative crisis both in the US and around the world.
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Tork UK
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PostPosted: Tue Jul 20, 2010 12:55 pm    Post subject: Reply with quote

It's a tough one... The fact is the government is broke and the pension system is completely unsustainable in its current form. But the idea of retiring at 70 is just a horrible one! I don't think I could handle that. I guess we're all going to have to save a lot more and spend a lot less if we want to even entertain the idea of retiring at 65 in the future!
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