All Categories› The Rail

You need to be logged in to your Sky Poker account above to post discussions and comments.

You might need to refresh your page afterwards.

State Pension 'must rise to 75' in huge financial warning

HAYSIEHAYSIE Member Posts: 31,831
edited October 2023 in The Rail
France to raise state pension age – and Britain could be next


https://www.msn.com/en-gb/money/other/france-to-raise-state-pension-age-and-britain-could-be-next/ar-AA16bh6v?ocid=msedgntp&cvid=ecf2a323fb884567a9f0a3d9745c948d
· Share on Twitter

Comments

  • rabdenirorabdeniro Member Posts: 4,222
    Has it not already happened here.
    · Share on Twitter
  • EssexphilEssexphil Member Posts: 7,985
    Outrage in France for suggesting Pension age will rise to 62 to 64.

    We are already at 66, and about to go up to 67. There will soon be an announcement putting it up earlier to 68 than currently planned.

    Does it have to go up? Yes. But that is no reason why the UK's has to go up further and quicker than everywhere else.

    Except, of course, if the Tories want to tax the poor to fund the rich. As per usual. Just bankers bonuses seem to be sacrosanct.

    Twice-because if you are a man you have to pay in for an extra 3 years and receive 3 years less money than in 2011. And 8 years twice for women. Which is a truly massive amount of money.
    · Share on Twitter
  • HAYSIEHAYSIE Member Posts: 31,831
    State Pension age timetable - GOV.UK - From …
    https://www.gov.uk/government/publications/state-pension-age-timetable/...
    The Pensions Act 2014 brought the increase in the State Pension age from 66 to 67 forward by 8 years. The State Pension age for men and women will now increase to 67 between 2026 and 2028. The government also changed the way in which the increase in State Pension age is phased so that rather than … See more
    · Share on Twitter
  • HAYSIEHAYSIE Member Posts: 31,831
    State pension age 'to hit 70' despite falling life expectancy and 'many will die too soon'


    https://www.msn.com/en-gb/money/other/state-pension-age-to-hit-70-despite-falling-life-expectancy-and-many-will-die-too-soon/ar-AA16m9eN?ocid=msedgntp&cvid=0e0faaa456764137b2e925ce6b527de6
    · Share on Twitter
  • goldongoldon Member Posts: 8,465
    edited January 2023
    Why is our Phil not PM and running the Country.....? hic!
    · Share on Twitter
  • EssexphilEssexphil Member Posts: 7,985
    goldon said:

    Why is our Phil not PM and running the Country.....? hic!

    Because it's a lot easier criticising things that are done badly than actually doing things yourselves :)
    · Share on Twitter
  • stokefcstokefc Member Posts: 7,627
    goldon said:

    Why is our Phil not PM and running the Country.....? hic!

    Best poster on here imo
    · Share on Twitter
  • stokefcstokefc Member Posts: 7,627
    I'm falling bits now i dread to think 12 years ahead never mind 15
    · Share on Twitter
  • Bean81Bean81 Member Posts: 504
    I'd like to see employers and employees contributions be compulsory. I realise that comes with its own short-term problems, but it would be hugely beneficial in the long run.

    As with any state funding, there's a question about who should pay. Not so long ago, people had an average of 10-15 years claiming state pension. Shorter life expectancy came with a lower NHS burden, plus there seemed to be and more reliance on family caring for their own elderly. Now people average 18-20 years on state pension, which £189k-£200k lifetime pension awards plus potentially £25k-£100k in care home support. Somebody that averages £30k per year salary for 30 years will pay about £190k in income tax and NI in their lifetime.
    · Share on Twitter
  • HAYSIEHAYSIE Member Posts: 31,831

    · Share on Twitter
  • madprofmadprof Member Posts: 3,297
    Hmmm
    · Share on Twitter
  • ACEGOONERACEGOONER Member Posts: 1,424
    Bean81 said:

    I'd like to see employers and employees contributions be compulsory. I realise that comes with its own short-term problems, but it would be hugely beneficial in the long run.

    As with any state funding, there's a question about who should pay. Not so long ago, people had an average of 10-15 years claiming state pension. Shorter life expectancy came with a lower NHS burden, plus there seemed to be and more reliance on family caring for their own elderly. Now people average 18-20 years on state pension, which £189k-£200k lifetime pension awards plus potentially £25k-£100k in care home support. Somebody that averages £30k per year salary for 30 years will pay about £190k in income tax and NI in their lifetime.

    Employers already are obliged to offer a workplace pension, to which both they contribute and the employee. It works on the basis of negative affirmation ie the employee has to opt out to stop paying in and getting employer money. Its been law for several years in this country.
    · Share on Twitter
  • Bean81Bean81 Member Posts: 504
    ^^ indeed. Many staff opt-out in my experience and many xompanies offer **** all as a % of salary. At my place of work, the company offers double the employee contributions up to 10%. Auto enrol is 2% employee I think. A lot ofnyounger staff in particular opt-out, even though it's free money. Even better with the tax break on contributions.

    I'm also making an assumption that people on zero hour contracts get nothing. I could be wrong about that.
    · Share on Twitter
  • PaintedOnePaintedOne Member Posts: 236
    Bean81 said:

    ^^ indeed. Many staff opt-out in my experience and many xompanies offer **** all as a % of salary. At my place of work, the company offers double the employee contributions up to 10%. Auto enrol is 2% employee I think. A lot ofnyounger staff in particular opt-out, even though it's free money. Even better with the tax break on contributions.

    I'm also making an assumption that people on zero hour contracts get nothing. I could be wrong about that.

    how can it be free money if you not around to use it?
    · Share on Twitter
  • EnutEnut Member Posts: 3,272
    PaintedOne said:

    Bean81 said:

    ^^ indeed. Many staff opt-out in my experience and many xompanies offer **** all as a % of salary. At my place of work, the company offers double the employee contributions up to 10%. Auto enrol is 2% employee I think. A lot ofnyounger staff in particular opt-out, even though it's free money. Even better with the tax break on contributions.

    I'm also making an assumption that people on zero hour contracts get nothing. I could be wrong about that.

    how can it be free money if you not around to use it?
    And that's the mindset that leads to people not making any plans for their retirement then moaning when they have no money when they get there, you can't have your cake and eat it.
    · Share on Twitter
  • VespaPXVespaPX Member Posts: 12,018

    · Share on Twitter
  • HAYSIEHAYSIE Member Posts: 31,831
    State Pension 'must rise to 75' in huge financial warning


    https://www.msn.com/en-gb/money/other/state-pension-must-rise-to-75-in-huge-financial-warning/ar-AA1iMlRx?ocid=msedgntp&pc=NMTS&cvid=cf036a68855e49d1a1d9df3c3a1478c1&ei=25
    · Share on Twitter
Sign In or Register to comment.