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Tesco Becomes First Major Firm To Move Pension Age From 65 To 67


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#16 Snafu

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Posted 14 March 2012 - 01:13 PM

What's wrong with working until you're 67?

Serious question? I'd rather have another 2 years of earning good money before retiring instead of (let's face it) a pretty dire pension. I am not on a final salary scheme. So if this working until 67 happened in the company I work for (which I am sure it will) - I wouldn't see that as a bad thing. Realistically though, you'd probably be asked to retire early anyway when you reach 60 going by how things are going.

I guess everyone has different goals in life, and some want to retire early. Well, then plan for it yourself? I just don't see working until 67 as a bad thing.

#17 RufflesTheGuineaPig

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Posted 14 March 2012 - 01:53 PM

Tee hee. I get another chance to post this:

There is no pension


See. He understands it.
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#18 FIGGY

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Posted 14 March 2012 - 02:34 PM

I woudl love to see the CPI switch come back a bite them in the ass. Jap style deflation on property would swing RPI lower and keep CPI high

#19 monkeyman1974

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Posted 14 March 2012 - 08:07 PM

What is it with Tescos? They are utter cu*ts. They should be blackballed.

Superb, I was on its Grad training scheme in the mid 90's. Utter shit-bags to suppliers.

#20 winkie

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Posted 14 March 2012 - 08:16 PM

What's wrong with working until you're 67?

Serious question? I'd rather have another 2 years of earning good money before retiring instead of (let's face it) a pretty dire pension. I am not on a final salary scheme. So if this working until 67 happened in the company I work for (which I am sure it will) - I wouldn't see that as a bad thing. Realistically though, you'd probably be asked to retire early anyway when you reach 60 going by how things are going.

I guess everyone has different goals in life, and some want to retire early. Well, then plan for it yourself? I just don't see working until 67 as a bad thing.



Depends on the type of work you do, a desk job or a manual job such as a roofer ...... also health plays a big factor as to whether you can or can't continue working in the job you are used to doing, a job that pays......a job that ends up not paying so well may be the force to do something different, something better, something new for less hours but also less pay. ;)
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#21 Lagarde's Drift

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Posted 14 March 2012 - 08:20 PM

Depends on the type of work you do, a desk job or a manual job such as a roofer ...... also health plays a big factor as to whether you can or can't continue working in the job you are used to doing, a job that pays......a job that ends up not paying so well may be the force to do something different, something better, something new for less hours but also less pay. ;)


Assuming you can stay in the same job. What desk jockeys don't realise is that they will get kicked out at 55, having to switch to a menial shelf stacking job (at Tesco), with their eye firmly on the pensionable age which somehow keeps getting further and further away. What's wrong with working till 67? Ask those who are in their sixties. :)

#22 winkie

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Posted 14 March 2012 - 08:29 PM

Assuming you can stay in the same job. What desk jockeys don't realise is that they will get kicked out at 55, having to switch to a menial shelf stacking job (at Tesco), with their eye firmly on the pensionable age which somehow keeps getting further and further away. What's wrong with working till 67? Ask those who are in their sixties. :)


.....kicked out at 55, I would think it would depend on who you were, where you stand and what you are worth....shelf stacking at a supermarket is not something to be taken lightly, it is something you do when you have debt and big bills to pay.....other 60 somethings do work, some very hard but in jobs that do not pay a wage as such. ;)
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#23 the gardener

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Posted 14 March 2012 - 11:05 PM

200,000 for what % of GDP?

Isn't it 1 in every 7 spent at tesco?

They don't get a penny off me. I'm boycotting them over the slave labour scheme.

Used to spend 100+ per week there. Never again.

#24 longtomsilver

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Posted 14 March 2012 - 11:17 PM

They don't get a penny off me. I'm boycotting them over the slave labour scheme.

Used to spend 100+ per week there. Never again.


I boycotted Tescopoly over the workfare con - cut my spend there from ~500 a month to <10 (driving past need milk kind of act).
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#25 billybong

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Posted 14 March 2012 - 11:57 PM

Somebody at say age 60 might well welcome the opportunity of getting in an extra 2 years of employment before retirement and would actually gain a financial benefit from those extra years but I imagine for younger people with more years to work the overall income figures for a working life will be manipulated downwards so that over a working lifetime there's little or no net benefit. Ok a lot of people will still want to work the extra 2 years at the end of their working life but in total it's still a raw deal.

(E.g the 2 extra years implies that on average there'll be more workers available than there would be otherwise - so downward pressure on an individuals total income over a working lifetime - on average).

Edited by billybong, 15 March 2012 - 12:52 AM.


#26 Vagabond

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Posted 15 March 2012 - 05:01 AM

What's wrong with working until you're 67?

Serious question? I'd rather have another 2 years of earning good money before retiring instead of (let's face it) a pretty dire pension. I am not on a final salary scheme. So if this working until 67 happened in the company I work for (which I am sure it will) - I wouldn't see that as a bad thing. Realistically though, you'd probably be asked to retire early anyway when you reach 60 going by how things are going.

I guess everyone has different goals in life, and some want to retire early. Well, then plan for it yourself? I just don't see working until 67 as a bad thing.

When pensions were first introduced they were meant to be a quiet respite for a year or two after a lifetime of work. They were never meant to be decades of fine living on huge sums that nearly matched your final salary.

Unless the pensions problem is solved and soon, the current UK sense of entitlement is going to crash head first into the economic reality of bankrupcy and the resulting wreck isn't going to be pretty.
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#27 PopGun

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Posted 15 March 2012 - 10:24 AM

Most people will be on the employment scrap heap long before they're 67.

Edited by PopGun, 15 March 2012 - 10:24 AM.

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#28 the gardener

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Posted 15 March 2012 - 11:21 AM

I boycotted Tescopoly over the workfare con - cut my spend there from ~500 a month to <10 (driving past need milk kind of act).

My monthly spend was about 550 on groceries, 160 on petrol, 10 mobile. That's over 700 per month Tesco aren't getting from me ever again.

I have not set foot in a Tesco since the boycott began. My daughter was meant to go to Tesco with her Brownie group to help pack bags for customers to raise money for charity but she decided that she would not go there either (she knows about our boycott but I told her it was fine with me if she wanted to go). I was very pleased to see that she has a well developed social conscience at her young age and refused to attend.

Edited by the gardener, 15 March 2012 - 11:25 AM.


#29 scottbeard

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Posted 15 March 2012 - 01:12 PM

When pensions were first introduced they were meant to be a quiet respite for a year or two after a lifetime of work. They were never meant to be decades of fine living on huge sums that nearly matched your final salary.


Exactly. People compare the new pensions world to the previous generation's unsustainable position, and cry foul.

For a better perspective, people should go back a little further and look at some more pensions history.

For example, when the state pension was first introduced, it was payable from age 70 and means-tested.
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#30 alexw

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Posted 15 March 2012 - 03:37 PM

When pensions were first introduced they were meant to be a quiet respite for a year or two after a lifetime of work. They were never meant to be decades of fine living on huge sums that nearly matched your final salary.

Unless the pensions problem is solved and soon, the current UK sense of entitlement is going to crash head first into the economic reality of bankrupcy and the resulting wreck isn't going to be pretty.


Its got absolutely nothing to do with economic reality, and everything to do with an out of control monetary system. We can produce more goods than ever before with less labour. Indeed productivity increases on an exponential basis, while life span linearly. Thus, economically speaking we should be reducing the retirement age not increasing it.

We are crashing head long into the brick wall of our ludicrous monetary system, not an economic one. Fix that and we can be retiring at 50.




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