George Moves The Goalposts Yet Again !

[tonyav]

Fancy working until your 70 ?.
http://money.uk.msn.com/autumn-statement-2013/autumn-statement-young-to-work-until-70-1

[tonyav]

Yes famous5, this won't help the youth get a job.

[ummmm]

We pay into a pension. We will pay extra when the mortgage is paid off. He started his pension when he was 18.

[Old_Geezer]

If one can not imagine wanting to stop working one must be in good physical and mental health and have found something wonderful to do.

This is a further promise to steal from the old. At any instant there is a certain population in the country, and a certain number of job opportunities. That means there is always a need for the government to fund out of work people. The decision is whether to keep the young on the dole/welfare and force those who have already worked to continue to do so, or whether to allow those who have contributed to reach a rest period and allow the young to make their contribution. The life expectancy has no bearing on it, and is a red herring.

The government is clearly hoping folk will fund not only the unavoidable taxes we all pay, that should pay for pension among other things, but for their own pension on top. Clearly hopnig few actually get to receive it. It is shameful and shows what sort of politicians we get to choose from. Those who can afford not to receive state pension, so are happy to mess up the later lives of others.

[tonyav]

Very well put Old_Geezer. I totally agree.

[sir.prize]

MPs can expect to retire on £40,045 a year (based on a current salary of £60,675). Minimum age for retirement is 55.

Are will still all in this together?

[DrFilth]

what happened to pack your job in early and give it to a young person , the more people that work for longer will just make it harder and harder for the young to find work

[dr b]

It's well worth reading the entire Wiki article on the "lump of labor" fallacy:

en.wikipedia.org/wiki/Lump_of_labour_fallacy

But on early retirement in particular:

http://en.wikipedia.org/wiki/Lump_of_labour_fallacy#Early_retirement

[dr b]

try again with 1st link

http://en.wikipedia.org/wiki/Lump_of_labour_fallacy

[jomifl]

Wonderful for those who die before they have to suffer the burden of retirement:o). All that will happen is that people will claim disability anyway.
I think most people would be happier to make a slightly bigger contibution to a pension fund and retire earlier rather than have the government rob Peter to pay Paul which is how the state pension has always worked.

[bazwillrun]

You can blame George if you like......but dont forget to blame the next government that doesnt rescind it and put it back as it is now

[tonyav]

Well I suppose George could get around the youth unemployment problem by raising the school leaving age to 21.

[Ken4155]

Bazwillrun, i cannot think of many previous Government policies that have been rescinded by their successors. Can you?

[youngmafbog]

Blaming George is very shortsighted, but then why ruin a good chance to have a go at the Tories.

For most people this will be irrelevant. In a few years State pensions will be means tested, certainly for new claimants. So all the pensioners bleating today, at least you got something, most of us will get nothing. This will not stop you retiring at all, it will more depend on your own provisioning. If you have p8ssed it all up the wall and expect others to now pay you may well be in for a shock.

What this does do is stop employers throwing people out when they would prefer to work.

I fail to see what the youth getting a job has to do with it. Someone with years and years of experience does not compare to young peoples.

Young people are more likely to be affected by uncontrolled immigration we see today.

[youngmafbog]

Ken, true - not even fox hunting !

[emmie]

many including my mother didn't stop working into very late in life, well after 70, the idea of being able to retire at 60 is long gone. And by the way some were not able to put into a private scheme, so have had to rely on the state pension.

[bazwillrun]

@Ken

no....and thats exactly my point