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When do you want to retire?

09:12 UK time, Thursday, 13 January 2011

The Default Retirement Age (DRA) is to be phased out this year, the government has confirmed. Do you want to work after 65?

The change means employers will no longer be allowed to dismiss staff just because they have reached the age of 65.

The Department for Business said that as well as benefiting individuals, "the freedom to work for longer will provide a boost to the UK economy".

Employers had called for the changes to be delayed for a year to allow greater legal clarity over the plans.

Will the changes boost the economy? Do you plan to work beyond 65? Are you an employer? If so, how do you think these changes will affect your business?

Thank you for your comments. This debate is now closed.

Comments

Page 1 of 6

  • Comment number 1.

    When ever it suits me.
    I run my own company and nobody was ever going to tell me when to retire, I will decide. There are a growing number of specialists with skills that are becoming sought after and a lack of young learners. I had intended to cut my hours back and only work part time but I'm getting ever more requests for my expertise, I could easily work 60hrs a week.

    The home in the sun is ready and waiting for me, it would be an easy choice to make but I am enjoying my work so it will have to keep waiting!

  • Comment number 2.

    I am 65 in November, I want to retire but with the obscene pittance called the state pension I may have to work on.

    I have a private pension which right now is performing well, I also have a large amount of savings, the trouble is with these though is that the interest @ 2.75% is taxed at 40% and inflation is 4% so negative here.

    With the rises in fuel and VAT, plus the general greed from both local councils and national government I can see me going till 68 at least, because I refuse to become a shuffling old git wearing a threadbare dressing gown and stinking of stale biscuits and urine. An estimated 40K pensioners died in the winter of 2009/10 from hyperthermia, how many this year? That will save the government a bit in pay outs.

    Why a country which even in its current state is comparatively rich treats its senoir citizens with the contempt it does is beyond me, even Romania has a bigger state hand out!!!

  • Comment number 3.

    I am suspicious that this is yet another measure to save money on training by retaining existing staff, rather than training young people. When we have so many young people not only unemployed, but in part time and casual jobs, one must ask why we are doing this. As old age pensions are cheaper than job seekers allowance, and socially less disruptive than having young people unemployed, one wonders for whose benefit these changes are being made.
    I have heard it argues that in an economy where the business people are only creating new wealth at half speed, it pays them to employ people who will work in a similar mode.

  • Comment number 4.

    No. I retired at 50.

  • Comment number 5.

    I may have to keep on working as my wife likes the lifestyle I provide through my income!

    I believe we should be allowed to do any job we want, within reason and it must be for the public good, throughout retirement.

    The job I want?






    Traffic Warden



    No don't laugh


    I would love it, giving out tickets to every 4 x 4 and BMW, even if they were moving. I would hang around school gates and any yummy-mummy double parking would feel my wrath.



    Oh! the power, the power!




  • Comment number 6.

    I don't know yet. But I want it to be me that makes the decision.

  • Comment number 7.

    Adversely.

    No doubt due to the government's intention to renege on pension provisions already contributed to, I shall end up working longer than I wish to... the 'ten year plan' to retire to a nice Greek island will get pushed further away as time is frittered away on scrabbling to ensure there's actually enough to live on.

    I don't understand this desire to work and work... there's far more to life than that, especially if you are pushed into non-professional work.

  • Comment number 8.

    15 years ago, I took out a personal pension, I had planned to work until 55. A couple of years ago, I was contacted to say that the fund (accumulated over 35 years at the current rate) would not be enough to live on. The suggestion was to continue work until 65. That's 30 years away & I'm pretty sure in the next 30 years, I get the same type of letter. Without a lottery win, I expect to be working into my late 60's maybe even 70's.
    I'd still rather retire & take up crosswords & moaning about "the kids of today", but I don't think I will have the choice.

  • Comment number 9.

    I just have at 62 thank god !! got completely fed up and demoralized after working 46 years . Working after 65 plays right in to the governments hands work till you drop then they nab it all ; get out and enjoy what life you have left , we don`t have gold plated pensions like those excuses for MP`s so spend let the youngsters have your job ; what a bleak outlook my children have and grand children .

  • Comment number 10.

    I agree those who are capable of performing thier normal working duties beyond 65 should be allowed to.
    The question I would ask is should they be able to work full time and still draw their state retirement pension?
    Otherwise all they will be doing is a) taking money from the state while earning and b) reducing the pool of Jobs for the 1.5 m unemployed (and rising.
    Perhaps it would be better for those who wish to work beyond 65 to look at eother the self employemnt option or finding something part time to keep them active and supplement their income.
    After all, those retiring now and in the next 20 years were encouraged to make their preparations to preserve their incomes using the plethora of Private Pension Provisions promoted during the halcyon days of the last Tory administration.

  • Comment number 11.

    Now would be nice!!!! Can't afford to because the Clown raided my personal pension fund from 1997 onwards.

  • Comment number 12.

    When I feel I'm too old to do the job I am doing. I'm a applications and web developer, so that could mean 10 minutes before my funeral service. As long as I am capable, I can work, whether employed, contracted or freelance, paid or voluntary.

  • Comment number 13.

    There are 11 years between me and my other half so I'm hoping to go part time by 55 so we can have some form of retirement together before one of us pop our cloggs!
    As for boosting the economy I'm not convinced.

  • Comment number 14.

    I want to work until I have the money and desire to stop. I actually like my job and my career choice so if I dont like my job I find myself another. There are a number of others I would love to try and I would love it if training for different jobs was allowed part time.

    I know you can do a different qualification part time and then you riskilly quit your current career to try another but this easilly fails, especially if your age is against you.

    I have a lot of hobbies which I would love to have turned into a career had I known much about them back in school. If I stopped working I would probably lose all direction. I tend to have loads of ideas and dont focus very well which often leaves hobby stuff unfinished.

  • Comment number 15.

    I want to retire when I am ready to retire. That may be at 55, 60 or 70, I don't yet know. The enabling factor though is money; having enough to live of comfortably. Many businesses in the UK have scrapped or want to scrap the DB pension schemes that enable early retirement. The current trend towards DC schemes do not lend themselves to early retirement as they do not pay as much and are reliant on the stock market. So we have had a situation where companies provide a poor pension yet want to throw out workers if they get old. What is needed is a full review of the pension system, reinstatement of tax breaks on pensions, tax breaks for companies who proved DB schemes but most importantly some form of guarantee that enables workers to plan for retirement rather than be left wondering whether they will ever have enough money to retire on or whether the Government is going to move the retirement goalposts again.

  • Comment number 16.

    I always enjoyed my work as a highly skilled engineer in a variety of industries until managers became little more than children, straight out of school with no knowledge or interest of the industry or application of technical solutions but knowing all the buzzwords & TLA's. As a Consequence of this new style of management I want to retire now but in order to do so I will have to become a banker or rob a bank, either option is broadly similar I suppose.

  • Comment number 17.

    Comment #1 is right on. I am in the same situation.
    The lack of young learners is quite simple to explain - lack of investment by employers and government in engineering and science skills and training. Leave the no-skill media studies to the incompetent, eg politicians

  • Comment number 18.

    Retirement should be a personal choice not age dictated, my father was still 'working' in his 80's because he wanted to, because he enjoyed being busy, because he wanted to keep as mentally and physically agile as he could and found things to do that suited his age and condition.
    The operative word is choice.
    I want to be able to work for as long as I want or need to, I do NOT want to be forced to stop just because I reach a certain age. We are living longer and keeping fitter it needs to change.

  • Comment number 19.

    People should work as far beyond the public pension age as they desire.

    However, the question is the wrong way around. It is not a matter of when people want to retire but a matter of statistics to decide when the nation can afford to pay off a worker.

    As average life span increased over the last century the government should have raised the pension age bit by bit but for some unknown reason successive governments stuck to a purely arbitrarily and fixed pension age that now bears no relation to the reality of life span.

    Furthermore, Labour’s Barbara Castle changed the basic funding for pensions and Labour took the ring fenced pension pot and spent it thereafter forcing all future pensions to be paid from future taxation rather than previously saved funds.

    Fixing pension age to a % of average life span so it can rise or fall and basing pension payouts on saved contributions not future taxes are the starting points to clear the current mess.

  • Comment number 20.

    This change doesn't force people to continue working after 65.

    The previous law didn't force companies to make people retire at 65.

    To be honest, I don't know how many people this will effect. Surely if someone is a good employee who wants to work, and happens to reach 65, then they would have been kept on previously in any case, and if someone wants to retire at 65 in the future, they will be able to.

    It seems to me that it would only affect those who reach 65 and aren't doing a good job. Previously they could have just been told to retire, now they have to go through the indignity of disciplinary procedures if they don't take the hint to retire.

  • Comment number 21.

    When do I want to retire?
    That is dependent on how I have planned for it? If I am relying on the state and have made no provisons myself, then it will be later than 65 as the state has run out of money. If I had spent money that could have gone on a pension on drink, smoking, drugs, etc then I will reap what I have sown.
    Many have shown restraint on their spending and put some aside for a pension and therefore are in control of the THEIR life and THEIR future. Children this is what responsibilty is all about, Nanny is leaving the building, Mummy and Daddy dont have the money for her anymore. If you think she is coming back, you need to grow up quickly.

  • Comment number 22.

    I don't think I will be able to retire until 70 at this rate. My parents retired at 65 and because they have small private pensions from the local council and the mines, they get no extra help and have struggled for the last 12 years whilst those who did not save or work get rent rebates and council tax rebates.

    Due to the last recession and this one I will not have much of a pension and foresee problems as negative growth has affected a lot of people I know.

    I am in engineering and so many times I have said the young are not encouraged into science and engineering so hopefully the ageism in some oil and gas businesses may extend the unsaid levels of 55 years to a point where I can work overseas longer.

    The future is bleak for older people and I am getting there just like everyone else.

    I thought in my latter years I would be traing in the last 5 years of work, younger people and handing over but where are they?

  • Comment number 23.

    I shall never retire. As a teacher, my job is my life, so I shall keep on going as long as possible. Like Macbeth, I shall "die in harness", for when the time comes that I cannot work responsibly or effectively anymore, I shall sell beach beds on some Mediterranean shore and wait for the final sunset...

  • Comment number 24.

    Whilst there may have to be an official retirement age it isn't representative of society at large. Some people are worn out and debilitated at 45-50 whilst others remain fit, healthy and sharp at 80 plus. This is an ongoing dilemma for both the employed and employers. I had two heart attacks at 57 and was advised to retire immediately. However, I couldn't bear the prospect and was back at work within 10 weeks. I eventually retired 5 years later through a combination of ill health and a company sale. The issue is that it remains difficult if not impossible to come up with a 'suits all' retirement formula and for that reason I believe in flexible application. This would also remove less effecting ailing employees whilst clearing the way for young people. At the top end skills & experience would be retained beyond 65. Many don't want to retire!

  • Comment number 25.

    It depends on your job or business some people in show business, and Royals do work untill they drop, but in many walks of life{ Normal working life} 65 yrs , is about right for some . But today young people just starting work, if they are lucky the Con/Fibs government, is getting rid of all pensions in the work place . What will they live on in the future?????

  • Comment number 26.

    I suppose one answer would be ,when i've got enough 'pension' money to live on. A large part of my working life has been spent working eighty hour weeks (no , not all paid ..i wish! )so my retirement age should be about 44! I think it might become more commonplace for people to have two entirely different careers in their lifetime. What is certain though is that the 'image' of early retirement,loads of leisure time supposedly made possible by electricity , automation and computers ,suggested in the sixties (and decades before), has not really worked out has it? We've created 'phantom' service industries that really don't contribute anyhing to the essential needs of living too. I don't ever see myself sitting in a large room with other retired people (retirement home)but does any generation? I quess we don't have that much say in the matter once our minds and bodies start failing. I know the younger generation will be thinking ,move over and give us a job, but the problem will be their's too and i expect they'll want even more out of life for possibly, less effort. Of course, because some of us will be living longer ,the early retirement age currently enjoyed by the 'public' emergency services will have to rise too!

  • Comment number 27.

    I'd love to retire now or at least have the freedom to freelance and work differently and making my own choices. Unfortunately because of the things that have happened in my life I can't afford to so I welcome the freedom to work beyond 65. I shall have to.

    That's if my job continues to exist. As I'm in the public sector currently being demolished by this govt I feel very vulnerable.

  • Comment number 28.

    There are some people who start their retirement long before they stop working.

  • Comment number 29.

    When do I want to retire? as soon as possible please

  • Comment number 30.

    This comment was removed because the moderators found it broke the house rules. Explain.

  • Comment number 31.

    I think we've come to a consensus. We all want to retire at the age we choose, but that it may not be possible based on our financial ability to do so.

  • Comment number 32.

    22. At 10:15am on 13 Jan 2011, John Mc wrote:
    I don't think I will be able to retire until 70 at this rate. My parents retired at 65 and because they have small private pensions from the local council and the mines, they get no extra help and have struggled for the last 12 years whilst those who did not save or work get rent rebates and council tax rebates.

    ====================================

    Nail. Head. Hit. If you don't encourage people to save for their own retirement (by "rewarding" those who could, but don't) guess how much saving is going to take place.

  • Comment number 33.

    "21. At 10:13am on 13 Jan 2011, AuntieLeft wrote:

    When do I want to retire?
    That is dependent on how I have planned for it? If I am relying on the state and have made no provisons myself, then it will be later than 65 as the state has run out of money. If I had spent money that could have gone on a pension on drink, smoking, drugs, etc then I will reap what I have sown.
    Many have shown restraint on their spending and put some aside for a pension and therefore are in control of the THEIR life and THEIR future. Children this is what responsibilty is all about, Nanny is leaving the building, Mummy and Daddy dont have the money for her anymore. If you think she is coming back, you need to grow up quickly. "





    -----------------------------

    I think for the majority your view is very redundant. Tell me, what is one to do if one does not smoke, does not partake in illegal drug use, only enjoys a drink occasionally, and is on a low wage but still does not have enough to put away for a private pension due to the cost of living, hmm?

    Get another job? Move up the ladder? Not so easy in these times, especially if the only option is to get another job.

    But then I guess that's not your problem is it. But it is the problem of the majority of workers in the this country and why should people not be allowed to enjoy themselves? Or is enjoyment the preserve of the wealthy now?

    It's nice to see the Tory "I'm all right jack" attitude is alive and thriving still!

    You are the one who needs to grow up quickly AuntieLeft, because when the workers are paying as much as they do in taxes it is the responsibility of the state to give those taxes back in the form of a pension and/or other benefits when they are required, not raid those funds and mis-spend them for their own personal gains!

    And each and every single one of us has a duty to look after each other, not stick your head in the sand and say "I'm all right, tough luck that your not.".

  • Comment number 34.

    Pension is a dreaming world of our, with low income therefore low pension, so why go on pension, go on working, till death us do part ?

  • Comment number 35.

    Saturday after winning the Euro millions jackpot on Friday.

    Seriously though I would love to retire early, my auntie was made redundant at 49 and had enough in her payoff not to need to go back to work. 16 years later she has now officially retired and loves that her time is her own.

    I don't want to work until the day I keel over.

  • Comment number 36.

    Rolling out Labour's dream of getting everyone into university and therefore delaying productive employment until age 25, it makes sense to extend the working life beyond 65. After all, it will take at least 40 years of careful saving to achieve a decent income in retirement.

    The principal reason why so many today say they can't afford to retire at 65 is because they failed to plan ahead. Well aware that their time would come, they spent freely on holidays, new cars, new clothes and furniture, dining out etc, in the process creating an artificial aura of wealth. When the day finally arrives, they are forced to choose between dropping their unreasonably high living standards, or working on till they drop.

    Statistics show that saving for retirement via a defined benefit arrangement results in a pension pot severely depleted by insurance company charges. My advice to anyone wishing to save for their dotage is to avoid insurance companies altogether. That way, they can retire after little more than 30 years.

  • Comment number 37.

    I want to retire from paid employment when I feel as though it is no longer worth my while to continue. I then plan to undertake more charitable and voluntary work.

  • Comment number 38.

    I had wanted and had made provision to work until I was 70 years of age with the full approval of my then employers who subsequently reneged on their agreement and made me redundant even though I was exceeding all my sales targets. They realised that they could employ two new graduates for the same amount of remuneration and "gave me that hard word"! At that time there was no protective legislation against ageism and I was unable to seek any justice from the Industrial Tribunal - just a mute expression of sympathy. However, within hours of being made redundant an old colleague phoned and offered me another job and I carried on as if nothing had happened - BUT I had to work for a female manager who had been my junior in a previous company and she was a real "nit picker" so I "jacked it in" at 68 years of age and am enjoying my hard earnt retirement. Let this be a cautionary tale for anyone who naively imagines that all employers value their older employees!

  • Comment number 39.

    I previously worked for a dutch company where the default retirement age for both sexes is/was 60. I have a deferred pension with them, so my aim has always been to still 'retire' at 60 (when this one becomes available to me) and as my current employer retires us at 65 I will defer this pension and if needs be get a part time job to cover the odd unexpecetd bills in between the two. I am reliably informed that I won't qualify for the 'state' pension until I am 67 (and 7 months)!

    In view of the state of the world's finances now, I think that all new parents should be encouraged to start pension schemes off for their newborns as part of their Christening gifts!

  • Comment number 40.

    I am going to retire this year, in November.

    Why...because i have worked all my life, paid my taxes and feel that I'd like to have a bit of time to myself, and with my wife who retired last year.

    Can we afford to retire? Can anyone these days? No. Just bite the bullet, and retire.

    But one things for sure. NO government is ever going to give you enough to live on, and by extending the pension age, they are hoping that a lot of us will die before we claim it! As far as they are concerned we are nothing but coffin dodgers. That's the attitude you get from sleazy politicians for 'being old' in this lousy country.

    And to those of you who are younger....don't begrudge the elderly their pensions. they have worked long and hard for them......as YOU will have done one day when YOU get old....and you will!

    Start saving now, but don't EVER trust that money to ANYONE except yourself!!

  • Comment number 41.

    I retired 15 years ago - after paying everything the Government asked - just after Thatcher inspired Tories removed the wages link from my state pension.

    Now my pension has LOST 40% of it's value - now I am branded a scrounger if I apply for benefits.

    I wonder why I don't believe in any form of Tory or Condem policy.

    Remember the cuts have only just started - you poor Tory saps.

  • Comment number 42.

    I plan to retire to 65 and this latest legislation will not change that. I hope to have a few years of freedom before I die, and I want to be fit enough to enjoy that freedom.
    The new law may boost the economy in a small way, fewer state pensions to pay out, but I don't think it will make a major difference.
    I think it very sad if anyone has to work beyond 65 for economical reasons but if someone actually wants to carry on working (strange as that seems to me)this is obviously good news for them. It may be bad news for small businesses who may have older employees no longer doing the work as well as they did but refusing to retire.

  • Comment number 43.

    It’s ironic to think that we as taxpayers have to work until we drop missing out on family life and what life has to bring, when those we place into power to make these discussions for us will retire early on a nice big fat government pension, they will enjoying time with their families and grandchildren growing old gracefully at our expense.

    Maybe we should bring MPs pensions inline with that of the ordinary workingman, then after leaving government they too will have to find another job and work until they drop to survive.

    Increasing the working age will reduce the amount of young entrants into our industries, this in turn will make us rely on outside skills as is happening right now thanks to immigration.

    This is a government win win scenario at our expense, I think we need to ask why MPs get high rate pensions after only providing a minimum of 5 years service to the electorate when we have to work all our live to get a pittance?

    Nana Mouskouri Euro MP from 1994 to 1999,

    She gets an EU pension of 25,000 euros (£23,000) annually

    If only we could all get pensions like this after working for 5 years.

    Typical government work for 5 years spend the rest of you life in luxury at the cost of the idiot who voted for you?

    How to make a million in five years (become a Euro MP)

    http://www.timesonline.co.uk/tol/news/politics/article5780599.ece

  • Comment number 44.

    I dont want to retire! why would i want to go and sit on my backside and die slowly for 20-30years with NHS ramming you with products??? working is good and keeps the heart beating, but i guess most of the country dont work and when tehy do they do a half assed job for 30+ years!

  • Comment number 45.

    Again with the grasping greedy baby boomers trying to hang on at the expense of younger generation, pensions, housing, education and Jobs. Thatchers generation will stoop to any levels and will tread on anyone to stay in control. These people who have never had it so good are now seeing the end of the road are refusing to pull off future generations will hate you for your selfish ways.

  • Comment number 46.

    To Europhile! If you are paying tax on your savings at 40% and you have substantial savings then I would consider that you have no need of the "pittance" that is the State Pension. Or are you just plain greedy?

  • Comment number 47.

    40. At 10:41am on 13 Jan 2011, KenThompson wrote:

    I am going to retire this year, in November.

    Why...because i have worked all my life, paid my taxes and feel that I'd like to have a bit of time to myself, and with my wife who retired last year.

    Can we afford to retire? Can anyone these days? No. Just bite the bullet, and retire.

    But one things for sure. NO government is ever going to give you enough to live on, and by extending the pension age, they are hoping that a lot of us will die before we claim it! As far as they are concerned we are nothing but coffin dodgers. That's the attitude you get from sleazy politicians for 'being old' in this lousy country.

    And to those of you who are younger....don't begrudge the elderly their pensions. they have worked long and hard for them......as YOU will have done one day when YOU get old....and you will!

    Start saving now, but don't EVER trust that money to ANYONE except yourself!!

    ----------------------------------------------------------------------

    Unfortunate but true, why do we have to get so old before we recognise such basic truths?

  • Comment number 48.

    I work for myself, my own business and shall continue as and when I decide I have had enough, or if I get a dribbling condition that ruins paperwork and makes my business unviable via higher re-printing costs!!!

  • Comment number 49.

    No I don't want to work after 65. When I started paying NI, the retirement age I fell into was 60. Now it looks as if it will be at least 66. So instead of 5 more years to go, it's now 11. This would be fine if I was in a secure job, but unfortunately I work on fixed term contracts, so it's likely that at the end of this one, I'll be redundant not retired. What chance of another job at 57?

    I know times are tough. But why can't we retire when we've contributed enough NI and let some young people get a start? Unfortunately, I can't afford to stop working, but I really feel for the young at the moment; I can see a whole generation on the scrapheap.

    I'm also sick of hearing about the cost of state pensions. I feel I've done my bit, why should I have to keep soldiering away until I'm 66 or older, while some in this society have never worked or contributed to society at all. I know that I would get bored very quickly, but I'd love to do voluntary work and get more involved in the community. It would be so nice to get up in the morning and do something useful that I want to do, and not have to do. I also worry that increasing the working life of many people will result in illness or disablement in later years - a cost that is not factored in.

    I do believe that retirement should be a personal choice - if you've earned the right to it. But working until you drop is not for everyone. I work to live not live to work. I'd like some of my life to myself please.

    Oh and yes, some people are living longer (on average)- some ARE NOT!!!.

  • Comment number 50.

    I have no problem with people wanting to work beyond 65 but this is nothing to do with employers or employees, its more about the government being able to increase the old age pension age and I find the statement - The Department for Business said that as well as benefiting individuals, "the freedom to work for longer will provide a boost to the UK economy" to be somewhat worrying.

    Does our economy really rely so heavily on the older generations instead of the much better educated (cough) younger generation where unemployment rates are actually rising to alarming levels?

    What is going to happen when the oldies like myself actually finally retire? This country is going to have not only a major skill gap but a work ethic gap the latter of which is already quite prevalent in many deprived and forgotten areas.

    We need the younger generations working now and let us oldies retire but encourage us to do voluntary work that would benefit the community as our generation is more likely to do such work willingly.

    If the younger generation employment rate does not fall substantially then the pension crisis will become even worse over the next couple decades but that won’t bother our current government as they will be swanning around the world selling their memoirs on how they made Britain great entitled ‘The Kings New Clothes’.

  • Comment number 51.

    Someone in my forties I’d love to retire in my mid 50’s. However, I expect by the time I get there the retirement age in be 70. Why retire early because I’ve got lots of interests outside work. I think those who want to stay working is because they run a sad life where they have nothing else of interest outside work.

  • Comment number 52.

    At 10:33am on 13 Jan 2011, ravenmorpheus2k wrote:
    "21. At 10:13am on 13 Jan 2011, AuntieLeft wrote:

    When do I want to retire?
    That is dependent on how I have planned for it? If I am relying on the state and have made no provisons myself, then it will be later than 65 as the state has run out of money. If I had spent money that could have gone on a pension on drink, smoking, drugs, etc then I will reap what I have sown.
    Many have shown restraint on their spending and put some aside for a pension and therefore are in control of the THEIR life and THEIR future. Children this is what responsibilty is all about, Nanny is leaving the building, Mummy and Daddy dont have the money for her anymore. If you think she is coming back, you need to grow up quickly. "





    -----------------------------

    I think for the majority your view is very redundant. Tell me, what is one to do if one does not smoke, does not partake in illegal drug use, only enjoys a drink occasionally, and is on a low wage but still does not have enough to put away for a private pension due to the cost of living, hmm?

    Get another job? Move up the ladder? Not so easy in these times, especially if the only option is to get another job.

    But then I guess that's not your problem is it. But it is the problem of the majority of workers in the this country and why should people not be allowed to enjoy themselves? Or is enjoyment the preserve of the wealthy now?

    It's nice to see the Tory "I'm all right jack" attitude is alive and thriving still!

    You are the one who needs to grow up quickly AuntieLeft, because when the workers are paying as much as they do in taxes it is the responsibility of the state to give those taxes back in the form of a pension and/or other benefits when they are required, not raid those funds and mis-spend them for their own personal gains!

    And each and every single one of us has a duty to look after each other, not stick your head in the sand and say "I'm all right, tough luck that your not.".

    >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

    Thank you for your comment but obviously I disagree. I am NOT 'alright Jack' and have made major contributions to the state and charity, but I also seen a major amount of people who do not take responsiblity (when they CAN, but choose to not to) for their OWN lives.
    We pay for State pension and NHS through the NI contibutions. The State pension fund is over £1 TRILLION in debt. That is money WE need to find to fund the pension requiremnts for OUR people.
    The lairs of the last La La Labour 'government' who misinformed us (or tried to hide) their incompetence of running OUR economy. WE, OUR children and grandchildren will now pay for it (although those nasty Tories and bankers will get the flack).
    Your words are very nice but in the REAL world of economics the decendent have been more interested in destroying the wealth production of this country than assistine it and therefore as a country we are reaping waht we sow.
    I live in the REAL world, not a delusional one which has contributed to the mess we are in at the moment. Again things are changing for good, the Nanny State, because of economics and idealogy, is being removed to allow (in some cases force) people to take responsibilty for their OWN lives. The ones who cannot we obviously, with JOY, help and assist.

  • Comment number 53.

    Strangely enough I was telling my boyfriend last night that I could happily retire right now. I am fed up waking up early every morning. I am fed up of walking out to a dull, dark, cold and rainy day. I cannot stand facing the overcrowded, stuffy tube where there is usually at least one other passenger to annoy me. Most of all I am fed up of working long hours for poor pay and being taxed to death. However realistically I have another 34 years before I can retire. I feel like it's one big sentence. I do not know why I bothered to actually work when people around me who chose not to have a better life than me.

  • Comment number 54.

    I kept working full time into my late 60s and then reduced this to working part time for a couple of years before finally retiring at 70, after a few months of retired life I was back at my old employers office asking if I could return as a volunteer.
    I'm now in my late 80s and continue to do voluntary work at the school I used to work at as well as volunteering at the local youth club as I found that working with children helps keep me feeling and thinking young and the regular exercise helps keep me fit.

    I know that many people say they can't wait to retire so that they can have some freedom and I'm sure if you don't enjoy your job or have a job that is physically demanding then this probably makes sense but I loved teaching and I continue to enjoy working with children and will continue to volunteer as long as I'm physically and mentally able to do so.

    I would encourage anyone who is recently retired to consider volunteering; there are lots of small local charities who would love to have you as a volunteer, they will make good use of whatever skills you have as well as giving you the chance to develop some new ones, make some friends and to make a positive contribution to your local community. You can give as much or as little of your time as you want and every minute of it will be very much appreciated.

    I would also warn of the dangers of doing nothing in your retirement, I have known several people who once they retired entered into a steep decline both mentally and physically because they spent most of their time sat in front of the TV or at the local bar. It is far too easy to fall into a routine of doing nothing and before you know it the lack of mental and physical stimulation will leave you a shadow of your former self.

    Whatever you decide to do I hope you enjoy a long, happy and healthy retirement.

  • Comment number 55.

    When the retirement age was set at 65, many didn't even live that long and if you survived until 65, you had an average of 7 years to go.

    Now, if you get to 65, you can expect 20 more years. That's 3 times as long.

    We just can't expect the position on retirement and pensions to stay the same.

    Succesive governments have backed away from the problem, the private sector has suddenly realised the problem and is doing something about it while the public sector chugs on handing out unfunded index-linked pensions which current estimates calculate would require 27% contributions of salary into a private pension to get the same benefits.

    The answer then, is if you're just starting out in your career, start saving for your pension NOW and start saving hard. If you're later in your career and you're a private sector worker, either resign yourself to a mediore (at best) old age, resign yourself to working a lot longer or start saving like crazy NOW!

  • Comment number 56.

    Seeing as I am going to be a midwife once I leave university, my anwser will be as long as I want to. I want to help women at this stage in their lives - help them is what I'm going to do, untill I cannot anymore. Simples.

  • Comment number 57.

    This is in some ways just giving the rest of us the freedoms which the political and social elites have always maintained for themselves of being able to work pretty much as long as they want to.

    It will also mean more tribunals and costs for employment law specialists will be in great demand - it will add to companies problems since they will no longer be able to plan for certainties of retirement at 65 but at the whim of the employee or to work through the process of forced retirement (which will probably be resolved simply with cash)when they cease to be capable.

    Shocking surprise that this change is made when the baby boomers begin to come to retirement age and therefore will be the primary beneficiaries as their pensions are secured and this is just more cream off the top. A very selfish generation indeed they have been.
    The younger generations due to the finances will have to work longer in any case just to make retirement a possibility.

  • Comment number 58.

    53. At 11:08am on 13 Jan 2011, ting wrote:

    Strangely enough I was telling my boyfriend last night that I could happily retire right now. I am fed up waking up early every morning. I am fed up of walking out to a dull, dark, cold and rainy day. I cannot stand facing the overcrowded, stuffy tube where there is usually at least one other passenger to annoy me. Most of all I am fed up of working long hours for poor pay and being taxed to death. However realistically I have another 34 years before I can retire. I feel like it's one big sentence. I do not know why I bothered to actually work when people around me who chose not to have a better life than me.

    --------------------------

    My fear is not getting up in the morning. Not dead but not got the energy or motivation to live. I would hate to go out as my grandad did. Doctors keeping you alive but you cant do anything. Mind failing, body failing and just waiting to die. I do fear that this is the way I will go.

  • Comment number 59.

    When do you want to retire?
    And when can an MP retire?
    These people are utter hippocrits!
    You can bet they will retire on a very nice (and more than one) pension as soon as they can.
    Next up a cushy earner sleeping in the House of Lords.
    We have one of the lowest State pensions in Europe and its only going to get worse.

  • Comment number 60.

    45. At 11:00am on 13 Jan 2011, Paul wrote:
    Again with the grasping greedy baby boomers trying to hang on at the expense of younger generation, pensions, housing, education and Jobs. Thatchers generation will stoop to any levels and will tread on anyone to stay in control. These people who have never had it so good are now seeing the end of the road are refusing to pull off future generations will hate you for your selfish ways.

    ----------------------------------------------------------
    I'm not sure which one of us is confused.

    Baby boomers were born somewhere between 1946 and 1964. Thatcher was born in 1925, so is no way included. She came to power in 1979, well past 1964. If by Thatchers generation you mean those born whilst she was in power they are well past being baby boomers.

  • Comment number 61.

    By the time I'm of retirement age the whole system will be different. State pensions will not exist, and pension schemes offered by the banks are not worth the investment. With wages tight and saving rates so low it is impossible to save any money. Investing in property is now very hard as the generation above has snapped up houses with to buy to let, or to develop and resell for higher, and banks have taken mortgage deposits out of our league.

    I can imagine that most people in their twenties and lower will be working until they die. And unfortunately we are probably the first generation that will die younger than their parents.

  • Comment number 62.

    Do you want to work after 65? I don't mind if my body holds up which I think it will. Not a problem.
    Will the changes boost the economy? It would be the other way around as if the economy is thriving employers and those over 65yrs will want to stay in work longer.
    Do you plan to work beyond 65? Yes.
    Are you an employer? If so, how do you think these changes will affect your business? There has to be a default retirement age to begin with as there cannot be a vacuum. It's either it is increased to 70 or 75yrs.



  • Comment number 63.

    I'm not sure this will help the economy as the longer workers stay on, the less openings there are for young people.

    I can see a problem developing in the future- some people at 65+ are full of beans- bright and capable, others are physically and mentally not so capable and may struggle to keep up with younger collegues and adapt to changing needs in business.

    I'm 34, so I will be expected to work until at least 67- whether I make it this far, or am able to work beyond is anyones guess

  • Comment number 64.

    41. At 10:47am on 13 Jan 2011, RichardGrey wrote:

    I retired 15 years ago - after paying everything the Government asked - just after Thatcher inspired Tories removed the wages link from my state pension.


    Yes she did but then the last Labour governments failed to do anything about it for thirteen long years. It only took the current Coalition government a few months to restore that link so no doubt you will be applauding them for doing so.

  • Comment number 65.

    "52. At 11:08am on 13 Jan 2011, AuntieLeft wrote:

    Thank you for your comment but obviously I disagree. I am NOT 'alright Jack' and have made major contributions to the state and charity, but I also seen a major amount of people who do not take responsiblity (when they CAN, but choose to not to) for their OWN lives.
    We pay for State pension and NHS through the NI contibutions. The State pension fund is over £1 TRILLION in debt. That is money WE need to find to fund the pension requiremnts for OUR people.
    The lairs of the last La La Labour 'government' who misinformed us (or tried to hide) their incompetence of running OUR economy. WE, OUR children and grandchildren will now pay for it (although those nasty Tories and bankers will get the flack).
    Your words are very nice but in the REAL world of economics the decendent have been more interested in destroying the wealth production of this country than assistine it and therefore as a country we are reaping waht we sow.
    I live in the REAL world, not a delusional one which has contributed to the mess we are in at the moment. Again things are changing for good, the Nanny State, because of economics and idealogy, is being removed to allow (in some cases force) people to take responsibilty for their OWN lives. The ones who cannot we obviously, with JOY, help and assist. "


    -------------------------------

    That is just it though, those who do work and take responsibility for their own lives as you put it are not being looked after when they find themselves in hard times.

    We hand out money to the EU, immigrants, single mothers, junkies etc. but when it comes to someone losing their husband, not having enough to pay the rent because they are employed by a supermarket and have hit a glass ceiling in terms of salary level but are still paid peanuts (less than £12k in fact) with no option of moving up the ladder, but they HAVE PAID TAXES for the last 30 years, aren't the usual chain smoking/pub going/supermarket alcohol buying chav that so many people are accused of being these days, YOU WOULD EXPECT them to get help with the bills they now find themselves unable to pay.

    Do they get the help that they need?

    No of course they don't!

    I know this first hand as this is the situation my mother now finds herself in and as I have been recently made redundant I am not able to help either.

    Not only that but, as politicians do, you've skirted around my initial question - what do the majority of low paid hard working people in this country do to provide a private pension for themselves when, THROUGH NO FAULT OF THEIR OWN, they have very little money to put away, if any?

    This is the reality of the REAL world - The majority of people in the UK are on ever increasingly low wages, whilst living costs rise, politicians live the high life off our backs and businesses expect us to work until we die for peanuts!

  • Comment number 66.

    I'm sure most people want to retire as soon as they can afford to. Those who would otherwise just have the basic state pension to live on now have the possibility of a better standard of living after 65. Meanwhile the government scores a double whammy: it saves on pension payouts AND taxes the income of the over 65s. Win-win situation!

  • Comment number 67.

    I would have liked to wait till 65 to retire. Instead, owing to brain injury caused by my employer I was forced into retirement at 42. Owing to the seriousness of the injury I missed the time window of 5 years to take legal action against my now ex-employer. I wasn't capable of handling the legal process. Consequently I have to live on a small pension which will now be annually reduced due the the present Government altering the way it accounts for annual inflation.
    I do not receive a penny in state benefits. DWP have refused a claim made on my behalf & refuse to consider the opinions of medical experts above the views of their own pen pushers. A pity as Council tax alone accounts for around 25% of my pension.
    I used my own savings to make my NI contributions up to 30 years, so I was looking forward to an increased income at 65 due to receiving state pension as well. In the meantime I do a part-time manual job (which produces less income than an old-age pension), moving furniture in a conference centre. Owing to the brain injury this can be extremely dispiriting at times. Last night, the stacks of chairs 7 high sometimes grew to 9, other times the same ones became 6, but on the whole I love my job & the dignity it gives me of earning some money provided my colleagues are patient with me & often cover for my mistakes. I also have the priviledge of paying income tax!!!
    Nevertheless, I will retire at 65. I cannot ask my colleagues to continue to put up with me. Jobs for the disabled are few & far between and somebody else will be only to glad to benefit from the enjoyment I have had. After all, at 65 I will no longer need the extra cash.

  • Comment number 68.

    Tio Terry with regard to Thatcher she pandered to the baby boomers worst excesses with regard to their greed hope this helps you understand the point I'm trying to make.

  • Comment number 69.

    A vote of thanks to Lord Snooty the Baron Osborne and their millionaire chums for ensuring that I will not only not be required to retire at 65 but won't be able to afford to any way.

  • Comment number 70.

    My parents were both made redundant in their early 50's. They live in a small town, so have not been able to find work since. They're both intelligent & physically fit - but nowhere will employ them.
    For the last 10 years they've lived off inheritance & the small amount they earn from gardening for other people in the town. They've both been paying into pensions for 30 years, but they're not yet entitled to anything, since they inherited what my grandparents left, they have slightly too much in savings to claim any benefits, but working out what they'll have if they live into their 70's or 80's scares them.
    Once their pensions & the state pension kick in, they'll be able to cover their bills using that. After both of them worked 1 to 2 jobs each, up to 60 hours a week, for over 30 years, they now face maybe 25 years of barely over state pension. That's no way to treat people.

  • Comment number 71.

    It depends on your job or business some people in show business, and Royals do work untill they drop

    ------------
    The Royals your having a laugh aren't you?

    In order to continue working you have to start in the first place!

  • Comment number 72.

    Dr Bunsen Honeydew wrote:
    41. At 10:47am on 13 Jan 2011, RichardGrey wrote:

    I retired 15 years ago - after paying everything the Government asked - just after Thatcher inspired Tories removed the wages link from my state pension.

    Yes she did but then the last Labour governments failed to do anything about it for thirteen long years. It only took the current Coalition government a few months to restore that link so no doubt you will be applauding them for doing so.

    ===================================================================

    Why have they done it?

    Because the link is currently cheaper than the previous link so that most pensioners will carry on being worse off.

    The Tories will always find a way of depriving pensioners of the best financial option.

  • Comment number 73.

    69. At 11:44am on 13 Jan 2011, steve wrote:

    A vote of thanks to Lord Snooty the Baron Osborne and their millionaire chums for ensuring that I will not only not be required to retire at 65 but won't be able to afford to any way.


    Yes, it is always someone else's fault.

  • Comment number 74.

    64. At 11:32am on 13 Jan 2011, Dr Bunsen Honeydew wrote:

    41. At 10:47am on 13 Jan 2011, RichardGrey wrote:

    I retired 15 years ago - after paying everything the Government asked - just after Thatcher inspired Tories removed the wages link from my state pension.

    Yes she did but then the last Labour governments failed to do anything about it for thirteen long years. It only took the current Coalition government a few months to restore that link so no doubt you will be applauding them for doing so.

    = = = = = = = = =

    I said the wages link not something like the smoke and mirrors CPI - The Condems are a disaster.

    What I did notice was that the Labour Government DID spend money on Education (AKA investment for the future) and Welfare (AKA help for the unfortunate) - Something required because of the Previous Tory Government total disregard for our society and total obsession with tax cuts for the rich,

    Thatcher was a disaster - Cameron with toady Clegg ARE a disaster.

  • Comment number 75.

    This has nothing to do with personal choice it has everything to do with the Tory ethos of the Master and the Slave, work until you drop. This is a backward move just like much backward looking legislation that has been enacted in recent years. My wife and I worked in our teens (myself from 14, my wife from 15) my parents worked in their teens, (my father worked in a Brickyard 60 hours a week from the age of 14) my grandparents worked in their teens. From 14 a person is old enough to work full time, the modern day nonsense of keeping youngsters to laze away the years some until their 20's whilst a tired and aging workforce keeps them is obscene. A person is adult enough at 14 and able to work, not keep older people at work until they die, the soft Society we have today is breeding a weak of limb and weak of backbone generation who have no incentive to get off their backside prefering instead to sit in front of computer games idling the days away. Absolute Madness.

  • Comment number 76.

    I'd retire tomorrow if I could.....and I'm only 41!!

    The problem I have is shared with many others. I can't afford to retire and I probably won't be able to retire at 55, 60 or even 65.

    The cause of the problem is greed and our apparent willingness to accept it. The fact is that the haves can afford to retire at 55 having paid into the system for perhaps less than twenty years. You see, a maths graduate from the early 50's for example, will have left school at 18 went on to university (fully funded by a decent student grant with all tuition fees paid), and only then joins the world of employment aged around 23. He becomes an actuary, earns a great living, and retires aged 55.

    His "cousin" may have left school at 14 to work down a mine until retirement at 65 - 51 years later!!

    Our actuary can expect a comfortable retirement and enjoying the good life until death comes sometime in his 80's. Our miner or shipbuilder etc will be lucky if he lives for a few years beyond retirement his health affected by the inhalation of coal or asbestos dust.

    Tell me: who is subsidising the retirement of who?

    Me? I am determined to retire at 55 and if that means going without holidays or satellite TV, eating beans on toast, and never moving out of my flat then that's what I'll do. Because I am determined not to let 'them' shaft me by allowing me to work until I drop - paying for the retirements of our MP's and captains of industry. I would rather live in with relative good health in relative poverty than continue to pay tax and NIC's which I would never hope to recoup after 65, 70 or who knows what age they'll want me to retire at.

    But here's another question. Why are we not taking to the streets (like the French) to demand that our retirement age DECREASES to age 62 - the increased retirment age being proposed by Sarkozy's government? Sarkozy claims that the system can no longer afford French citizens to retire at 60 so he proposes a retirement age of 62.

    If the French can afford to retire at 62 then why not us?

  • Comment number 77.

    Mr Cameron is going for it this week. First with employment laws. Then with banning strike action and now we find him wanting to end retirement. All we need now is the opening of a few workhouses and we are back to the time of Dickens! Thatcher the evil one said “back to Victorian values” and Mr Cameron has started her political time machine and with the global economy we are all going backwards, greed driven, to the time of pure slave and master. This is being done by a coalition with no true mandate from the people.

    Wake up people before your children are enslaved!

  • Comment number 78.

    I am 50 this year, my wife 40. Our mortgage will be paid in about 2-3 years, our children are grown up and grandchildren secure, I have a good military pension and received a nice golden handshake to leave, we both have good jobs that allow us some great holidays/exploration and some savings, we have a lovely property in a very expensive part of Kiev, we have tax-free investments in China and India which are growing at an alarming rate and mature in a couple of years.
    We expect to leave these godforsaken shores before I reach 55 for a life in the sun. We are watching property prices in the Greek islands and will be selling up and severing all connections with the UK as soon as we are able. Beach, sun and sand here we come.
    This country has absolutely nothing to offer. I speak from experience, having lived in many other countries, where the standard of living and approach to life in general is so much more amenable.

  • Comment number 79.

    72. At 11:48am on 13 Jan 2011, shillo wrote:

    The Tories will always find a way of depriving pensioners of the best financial option.
    ----------------------------------------------------------

    I thought it was Gordon Brown who robbed the pension funds of billions of pounds.


  • Comment number 80.

    People who are past retirement age should retire and let young people get into employment. It is short sighted to think that by working us into an early grave we are helping the economy. Are we fogetting that young people need to get into employment to start building their retirement fund so that they will not be a burden on society when they reach their 60s

  • Comment number 81.

    I feel sorry for the large number of people on this topic who won't retire because work is so important to them - they actually enjoy working!
    I retired at 56 after 40 years of work. It is one of the best decisions I have ever made.
    What is even more baffling are the responses from people, e.g. comment No1 - who have planned for their retirement, obviously well off, including summer home, and still will not give up on work. There are many, many others aspects to life than work.
    Retire and really enjoy life!

  • Comment number 82.

    2. At 09:41am on 13 Jan 2011, europhile wrote:
    An estimated 40K pensioners died in the winter of 2009/10 from hyperthermia, how many this year? That will save the government a bit in pay outs.

    ------------

    Estimated by you I assume. The number of deaths from hypothermia is very small - probably less than 100.

  • Comment number 83.

    'when do I want to retire?'

    In 14 years when I'm 55 :-)

  • Comment number 84.

    Dr Bunsen Honeydew wrote:
    69. At 11:44am on 13 Jan 2011, steve wrote:

    A vote of thanks to Lord Snooty the Baron Osborne and their millionaire chums for ensuring that I will not only not be required to retire at 65 but won't be able to afford to any way.

    Yes, it is always someone else's fault.

    ------------
    I like millions of Public sector workers had made provision this unelected government have undermined them. I am too old to start again.

    So yes in this instance it is someone else's fault and we all know who!

  • Comment number 85.

    In reality companies dismiss who they want when they want. They do it with “compromise agreements” whereby the outgoing is worker given a sum of money in return for signing a contract not to take them to an industrial tribunal. The sum offered is calculated to be sufficiently close to what a tribunal would award that everyone signs. The amounts of money involved seldom exceeds 18 months wages – not a fortune for a large company.

    The way to stop this practice, of what is in effect unfair dismissal, is of course to increase the amounts of compensation paid by Industrial tribunals making it financially unattractive for companies. But the government with its talk of making workers easier to sack is unlikely to do this - so this new legislation will achieve nothing.

  • Comment number 86.

    It depends on what you do for a living. If you sit in an office in front of a computer you can work until you drop. If you work on a building site or mending roads you are physicaly knackered in your 40's.
    The term 'work' means different things.

  • Comment number 87.

    There's such a load of crap on the television these days that I find the only programme worth watching is the Russian news channel RT. They tend to knock America whenever they can, but what you do see is the world from the other side. This week they had a story about Britain, they said the group of people who have come out worst in the current economic downturn are the British pensioners. Their words, 'the British abysmal pension', means that most pensioners that had to rely on interest from their savings to survive are not now getting any interest so are having to withdraw their savings capital to survive. Strange how a foreign news channel can get it spot on, yet our own government who should be more in the know ignore the plight of pensioners. No right minded person would want to work beyond retirement age but if the alternative is to end your days in abject poverty, you have to continue working.

  • Comment number 88.

    It just gets better & better, I've got more chance of reaching Death in Service benefit as opposeed to digified retirement!

  • Comment number 89.

    They mean ABOLISHED not 'phased out', so all the "national insurance" you paid towards your state pension is going to be robbed and most likely given away by the ever increasing foreign Aid wealth distribution socialist guilt clan.
    As for you, the mug who has worked away your life to pay for it,you can work until you drop down dead on the job for all they care !
    Vote for who you like, they care not, they are all in the same club..

  • Comment number 90.

    To be honest, I can't see a down-side to this.

    This has simply removed the ability of companies to dispense with the services of an employee, simply because they have reached a certain age. That way, people have the choice to continue working beyond 65 if they wish.

    I have heard arguments for and against this on Radio 4 this morning, but the Government representative defended the notion very well. And as observed, many companies do not observe the mandatory retirement age anyway, so all in all I don't see this making any significant changes to the way things work anyway.

    Someone commented that it may be a way of saving money on training new staff, but who better to do so than a seasoned worker with 30+ years experience?

    I think this is a good move, it will simply stop an employer from saying "you're 65 so now you must go".

  • Comment number 91.

    I don't need a politician to tell me when to retire or anything else for that matter, I work for myself, have provided my own pension and do not need unqualified politicians to provide for me, I will take the small state pension and use it for something, but a tip to younger folk,
    DO NOT RELY ON THE STATE, they will screw you. I will carry on working and retire in stages when I am ready.

  • Comment number 92.

    79. At 12:08pm on 13 Jan 2011, Tio Terry wrote:

    72. At 11:48am on 13 Jan 2011, shillo wrote:

    The Tories will always find a way of depriving pensioners of the best financial option.
    ----------------------------------------------------------

    I thought it was Gordon Brown who robbed the pension funds of billions of pounds.
    = = = = = = =

    There are far more State Pensioners than private fund pensioners.

  • Comment number 93.

    Having been unemployed for a number of years and now self employed, I am wise enough to decide as to what age I want to retire. I don't need or want anyone to decide for me.

  • Comment number 94.

    When do you want to retire?

    ------------------------------------
    Tomorrow.

  • Comment number 95.

    Personally, I hope to retire by 65 at the latest. I've been paying 30% of my salary split between a couple of personal pensions for the past 10 years (another 20 to go..), as well as making other investments.

    This may sound a bit "I'm alright Jack", but well, I am planning for my retirement. Is it now "cool" not to plan ahead, so you can moan that the government isn't looking after you? When I got my first job, on a quite low salary, almost the first thing I did was to start saving for a pension - the sooner you start, the less you need to save each month, so back then I saved about 4% of my salary, and the employer contributed another 2%. As my income grew, rather than just spending it all on myself, I increased my pension contributions disproportionately.

    I own my own business, so I can retire when I want.

    I wouldn't expect the law change to make any difference to my business. There are some people older than me in the business, but I wasn't planning to force anyone to retire at any particular age, as long as they're still fit to do the job.

  • Comment number 96.

    Anyone who chooses to work past the age of 65 really needs to get out more. "oh, but I enjoy me job" they bleat. Well how about you enjoy something else and let someone younger get the benefit of that post?

  • Comment number 97.

    82. At 12:10pm on 13 Jan 2011, Khuli wrote:

    2. At 09:41am on 13 Jan 2011, europhile wrote:
    An estimated 40K pensioners died in the winter of 2009/10 from hyperthermia, how many this year? That will save the government a bit in pay outs.
    ------------

    Estimated by you I assume. The number of deaths from hypothermia is very small - probably less than 100.

    = = = = = =

    Sorry wrong - It is 30,000 from the BBC News Website.

    Wonderful how the Tories hide the truth isn't it - And the Tories want to stop our Winter Fuel Allowance too,

  • Comment number 98.

    33. At 10:33am on 13 Jan 2011, ravenmorpheus2k wrote:

    But then I guess that's not your problem is it. But it is the problem of the majority of workers in the this country and why should people not be allowed to enjoy themselves? Or is enjoyment the preserve of the wealthy now?"

    Of course people can enjoy themselves - but enjoying yourself by spending money you should be using for other things is irresponsible. Lots of enjoyable activities are free or very low cost. If you think 'enjoyment' is only achieveably by spending lots of money on drink, drugs or cigarettes, then you've got a sad life.

  • Comment number 99.

    76. At 12:05pm on 13 Jan 2011, IRN - Tax doesnt have to be taxing wrote:

    But here's another question. Why are we not taking to the streets (like the French) to demand that our retirement age DECREASES to age 62 - the increased retirment age being proposed by Sarkozy's government? Sarkozy claims that the system can no longer afford French citizens to retire at 60 so he proposes a retirement age of 62.

    If the French can afford to retire at 62 then why not us?


    The problem for the French (and the Germans who have basically accepted unlimited liability to underwrite the Eurozone) is that they can't afford to retire at 62 either, it's just they don't realise that yet. Sarkozy probably does realise that but will take one step at a time to gradually increase the retirement age. It will have to keep going up or the French taxpayer will have to fund a steeply increasing pension liability. Once that results in unsustainable borrowing then the Germans will find they have to step in.

  • Comment number 100.

    When will the masses wake up and realise that the baby boom demographic time bomb has detonated? The whole pension model is a fraudulent ponzi scheme? What other financial service would be allowed to say; 'Pay into this compulsory system all your working life, with the promise that you will be looked after when you become to tired to carry on supporting yourself, but later on down the line we will change the rules where you will have to make additional contributions in exchange for diminishing returns?'

    We are no longer a young country rebuilding together after a war, with few old people surviving 6 months after retirement. Back then there were 10 workers supporting 1 pension, now there are 10 shirkers being supported by 1 worker, it doesn't stack up.

    Neo Labour opened the floodgates to Eastern EU cash-in-hand car washers who don't in reality contribute to the UK pension pot so the pensions black hole is being plugged by those who pack vegetables on minimum slave wages for the benefit of only supermarket profits.

    We are an asset stripped nation which is run by banks and mega-corps in direct opposition to natural human good nature and community cohesion. And the Police are their army so like it or lump it!

 

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