FabSwingers.com forum: Taking the piss

By *andomDick OP Man
2 weeks ago

Northern England

The government is now set to raise the state pension age to 68 in 2037 (under review)

seven years earlier than originally planned, having already moved it twice in less the 10 years

What are the odds it will be 70 within 10 years ?

With the increasing age shouldn't you be able to pass your pension on to a loved one, say a guaranteed 10 years pension ?

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By *xSirenaxxWoman
2 weeks ago

FFS that no doubt means my workplace pension will also change.

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By *ildo44Man
2 weeks ago

leeds

Isn't 35 years that full qualifies for it!!??

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By *xSirenaxxWoman
2 weeks ago

"Isn't 35 years that full qualifies for it!!??"

Yes you need to pay for at least 35 years to qualify fully for it

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By *eroy1000Man
2 weeks ago

milton keynes

"Isn't 35 years that full qualifies for it!!??"

I believe so but I think you can't access it before your retirement age or if you can it is substantially reduced. I was told at a works pension seminar that after the 35 years you still pay the same amount but for no extra benefit

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By *ingdomNightTimePleasuresMan
2 weeks ago

nearby

AI says someone on average earnings will pay £250,000 -£350,000 in NI over 50 years contributions

At age 68, assuming current mortality for men - living to 79 and women living to 83. In receipt of £12,500 state pension (not allowing for increase) this doesn’t look like good value.

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By *hrill CollinsMan
2 weeks ago

The Outer Rim

_abio will be along shortly to do an explainer

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By *xSirenaxxWoman
2 weeks ago

"AI says someone on average earnings will pay £250,000 -£350,000 in NI over 50 years contributions

At age 68, assuming current mortality for men - living to 79 and women living to 83. In receipt of £12,500 state pension (not allowing for increase) this doesn’t look like good value. "

NI is not just covering pensions, it contributes to the NHS and other benefits.

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By *ingdomNightTimePleasuresMan
2 weeks ago

nearby

"AI says someone on average earnings will pay £250,000 -£350,000 in NI over 50 years contributions

At age 68, assuming current mortality for men - living to 79 and women living to 83. In receipt of £12,500 state pension (not allowing for increase) this doesn’t look like good value.

NI is not just covering pensions, it contributes to the NHS and other benefits."

25% of the nhs budget is spent on self inflicted obesity, smoking disease, alcoholism and drug abuse/rehab.

What you have highligthed broadens the scope of the thread and how the £1.4trn annual treasury income is spent / mis spent

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By *ostindreamsMan
2 weeks ago

London

I had already given up any hopes of getting a state pension by the time I retire. I don't see how it can be sustained. The way they are increasing the pension age, I am now worried about my private pensions too. I guess we will all be forced to withdraw it before retirement age, thereby paying huge taxes on it.

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By *ingdomNightTimePleasuresMan
2 weeks ago

nearby

"I had already given up any hopes of getting a state pension by the time I retire. I don't see how it can be sustained. The way they are increasing the pension age, I am now worried about my private pensions too. I guess we will all be forced to withdraw it before retirement age, thereby paying huge taxes on it."

The state doesn’t work

Social housing sold off at huge discounts

No hope of replacing it

Industry and farming jobs globalised

Deferred state pensions

Student loan system

Inadequate politicians with no ability

£3trn in debt rising at £4000 a second

Always hunting for more taxes off business and working people to pay for government mis spending, benefit breeders and immigrants.

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By *abioMan
2 weeks ago

Newcastle and Gateshead

"_abio will be along shortly to do an explainer

ask and you shall receive!

"The government is now set to raise the state pension age to 68 in 2037 (under review)

seven years earlier than originally planned, having already moved it twice in less the 10 years

What are the odds it will be 70 within 10 years ?

With the increasing age shouldn't you be able to pass your pension on to a loved one, say a guaranteed 10 years pension ?"

So rather than sensationalise what is happening, the headline is kinda backwards (not blaming the op because all the press was done that way!

So.. at the moment all those people born between 6/4/61 and 5/4/77 are due to reach at 67…

all those born after 5/4/78 at the moment due to reach at 68.. and those between 5/4/77 and 5/4/78 will be in the step climb from 67 to 68 … at the moment this is all provisional because there is a state pension age review every 10 years!

What the current review is looking at is potentially bring the state pension age dates 5 years forward

So what the current review is looking at the moment at is the 67 age between 5/4/61 and 5/4/70 then the step climb to 68 between 6/4/70 and 5/4/71 and 68 onwards from 6/4/71

So a few things I need to point out

1) the state pension age commission who conducts the review is completely independent

2) the government can decide whether to accept or decline the recommendations made by the review board

3) it will not affect the requirement needed to get the full state pension (in effect any 35 of the possible 52 qualifying years needed for full state pension)

4) they must give at least 10 years notice of any state pension age changes so plans can be adjusted (lesson learnt from 2012 and 2016)

5) at the moment there is no potential age 69 legislation being reviewed (maybe they put in a provisional but that would still need to fully become law at a later stage

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By *ctionSandwichCouple
2 weeks ago

Newcastle under Lyme

[Removed by poster at 16/07/26 16:18:48]

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By *ctionSandwichCouple
2 weeks ago

Newcastle under Lyme

Firstly retirement age for men was 65 for ages. (Women you wanted equality, you have it).

When a state pension first came out in the early 1900's it was means tested and for 70 plus only.

All of us know about these rises. All of us should be ferreting some wealth away into private pensions or other forms of investment.

Worst case, at this rate you won't be able to claim private pensions until you hit 60.

You are in charge of your life. You plan for your life. If you're unable to start saving for later life by the time you hit 40 then you've seriously fucked things up to be fair.

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By *007ManMan
2 weeks ago

Worthing

Mates work colleagues some were weeks either away or into a retirement and passed away. Think stress as most were heart related. On this logic, the government do not make sense as usual.

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