19 Feb 2018

A question about : revert the pension age to 60/65

I think the government has stolen money from me by forcing me into a pension fund from which I doubt I will ever benefit - millions of others too
I want the ages reversed to 60/65 or a lump sum repayment for all contibutions
anyone agree

Best answers:

  • What pension fund were you forced into?
  • Yep the State Pension should revert to age 70, as it was when first introduced.
  • I bet the OP didn't expect the replies posted so far.
    I would really love to have my State pension paid later this year when I reach 60.
    But, I've known about the change for many years and understand the reasoning behind the need for change in State retirement age.
  • We didn't get the OP back to explain what he/she means, what has been stolen, why he/she wants a backward step.
  • Many of us have had our expectations revised for us, by SRA changes or occupational scheme benefit reductions, and the principal underlying cause is the same - affordability.
    As this is essentially a rant thread, I'll rant on behalf of the post-boomer generations.
    As a youth I read a lot of science fiction. Visions of the future, the pleasant ones anyway, had it that people would work less, not more; machines would do most of the work. The mass of people are now further from that than they were 40 years ago.
    SWMBO and I were fortunate, on my modest stipend, that we could afford for one of us (her as it happened, but I'm not saying it has to be a woman's job) to be at home with the children; and that we could buy a decent house on a mortgage. There are now very few households in the form of that once traditional family unit.
    Somehow we managed to make it the norm for both married or cohabiting adults with children to work. Has it made them all better off?
    Not at all - it's harder now for two to buy the house than it was for one of them in 1977 when we bought our first. In the 70s, home loans were doled out like Oliver Twist's porridge - reluctantly and in small portions. Building societies were usually three months behind with their monthly allocations. But lo, banks came into the market and it was easy to get a mortgage.
    Marvellous! Except that the consequence was rampant house price inflation that just mopped up all the extra wages of economic growth to pay back the loose money - enriching my generation by boosting equity, and impoverishing the next. Capital had, in effect, reorganised itself to strip labour of its luxuries and in the inevitable way that Marx observed, better accumulate all the the surpluses to itself.
    In return the increasing number at the bottom of the heap were given welfare benefits, making them dependent on state handouts.
    Some people always worked unsocial hours, but there were enough diurnal, 5 day a week jobs jobs for those who preferred them. Now we have a 24 hour economy and millions have no option than to work evenings and weekends, disrupting family life. What has Sunday opening really achieved?
    Even if we have been clobbered, compared with our children we have in my opinion had the best of it. I was 24 when I got married, and bought a house. My daughter is getting married this year at 32. My son still lives in a shared rental at 28.
    How can it be that that it now takes two people earning the average wage to manage what we could do with one?
    I can certainly find plenty to moan about if I want, but on balance I feel very lucky - my parents and grandparents lived through world wars (two for the grandparents), and our children will find it much harder than we did.
    Moaning, I find, doesn't make me any happier either...and I'll be amazed if anybody has read this far.
Please Login or Register to reply to this topic