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Younger Staff Will Work To 80 Under Pension Link To Rising Lifespans

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http://www.telegraph.co.uk/finance/budget/8402995/Younger-staff-will-work-to-80-under-pension-link-to-rising-lifespans.html

Longevity is rising at a rate of seven months every year, meaning that, under the proposal, employees in their twenties, thirties and forties could find themselves working beyond their 75th or even 80th birthday.

Big pension funds increased their longevity expectations for the fourth year running last year, saying they expected future pensioners to live an extra seven months. Men who are currently 65 should expect to live until they are 87 years and five months, while women will survive to nearly 90 on average. At the current rate, by 2066, around half a million people a year will be celebrating their 100th birthday, compared with about 10,000 now.

edited

Ok so they have extrapolated the forecast. Driving will be fun.

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http://www.theonion.com/articles/at-my-age-i-just-cant-compete-with-the-younger-com,19778/

Won't happen - heres why -

I'm 51 years old, but I might as well be 100 when it comes to my workplace. These days, in a culture that values youth and the ability to competently do your job above all else, it's tougher than ever for an unqualified person my age to get by. How is someone like me supposed to survive in that environment when he's surrounded by younger guys way more capable, adaptable, and hardworking than he is?

It's getting to be ridiculous.

Stupid me, I used to think seniority mattered. But after three decades of just going through the motions day in and day out, along come these college-age hotshots whose biggest assets seem to be a birth certificate with 1987 on it and the capacity to do the same work I do much more efficiently and with a better attitude. I'd already been barely doing my job for years when these guys were still learning to read, excelling at their schoolwork, and turning in their assignments on time! And what's my reward? Playing second banana to a bunch of vastly superior young men who couldn't tell you the first thing about cutting corners!

Let's face it, it's 2011, and there's just no place for someone as advanced in age and terrible at his chosen profession as I am. Next stop, the nursing home, I guess.

For one thing, these kids were raised on computers, so they automatically have a huge advantage over geezers like me who still remember floppy disks and are far too lazy and entitled to learn even the basics of the new accounting software. They've also got more energy than I do, so of course they're going to get more done than some old fart who takes two-and-a-half-hour lunch breaks and constantly uses the office phone for personal calls.

Excuse me for having a few gray hairs and not meeting a deadline in the past 14 years.

And these inexperienced twentysomethings are like raw clay to management, waiting to be molded into whatever shape the higher-ups want. They look at the young guys, and then they look at me, with my wrinkles and my long, documented history of consistently failing to follow the most rudimentary directions, and guess who gets the promotion every time?

Ding, ding, ding! You win a prize if you said the rosy-cheeked tyke who's my better by any reliable measure of performance and who seems to truly care about this company in a way I have not in a very long time, if ever.

That's how it is, though. There's no bigger crime than hitting middle-age in a business climate where youth and not being hopelessly inept are king.

I can't help but think about my future sometimes—at least what's left of it. After all, I'm not getting any younger or more professionally adept. It's only a matter of time before my boss calls me in and tells me I'm being let go to make room for some 25-year-old go-getter who actually deserves to be working here. Sure, I'll protest, but it will only prolong the inevitable. Fact is, the day you turn 40 and hand in a really sloppy report for what seems like the hundredth consecutive time and then make up a dozen excuses as to why it wasn't your fault, the writing's already on the wall.

I don't blame the young guys for trying to make a splash. They're young and brash and still possess that sense of pride I haven't experienced since the first Bush administration. But while they might feel indestructible now, someday they'll be exactly like me: a paunchy old man who needs bifocals and made the unfortunate mistake of living long enough to be an out-of-touch relic of no use to anyone while also refusing to do anything to remain relevant.

And who clearly should never have been hired in the first place.

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Did anyone think to account for how much this would increase the size of the workforce compared to the number of jobs there are (or are likely to be)? You might want everyone to work until 75 but as there won't be any more jobs so they won't be; it'll be cheaper (and inevitable) that you just pay them Jobseeker's Allowance for 20 years of their working life instead. Jobseeker's Allowance is a lot cheaper than a pension for the government to pay. Maybe that's the plan. :unsure:

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Did anyone think to account for how much this would increase the size of the workforce compared to the number of jobs there are (or are likely to be)? You might want everyone to work until 75 but as there won't be any more jobs so they won't be; it'll be cheaper (and inevitable) that you just pay them Jobseeker's Allowance for 20 years of their working life instead. Jobseeker's Allowance is a lot cheaper than a pension for the government to pay. Maybe that's the plan. :unsure:

We'll have a bloody infantry war ever so often which should thin the numbers out a bit.

Also convenient terrorist attacks and genetically engineered virii which wipe out large numbers of people will be the answer.

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Longer life doesn't necessarily mean longer quality life. The human body wears out after so many years and science can't stop this, it only drags out the dying process for longer and longer.

A classical curse in fantasy novels..... Whereby brave warriors are rewarded with immortality...

Many forget to ask for eternal youth to come with immortality as well and end up as rotten old near corpses which are held together by bandages and rope.

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I'm going to go back on the dole I think, just before Summer. I can do a year easily until eligible for working tax credit.

Working without in-work benefits is pointless.

I will begin brewing copious amounts of beer, wine and mead now in advance of my unemployment. The summer shall be brilliant, the beer shall flow and food will be plenty. I will go picking mushrooms in the fall. and Christmas will be great, come Easter I shall prepare to re-enter employment.

Yesterday I was about £40 a week better off on the dole. Today I'm slightly worse off, and beer and tobacco costs considerably more. If I hadn't opted out of pensions contributions I'd be no better off! And I'll never reach retirement anyway.

I don't see the point in working via PAYE at the bottom of the wage pyramid. The people I deal with at work would gladly pay me cash in hand anyhow, and I'd need only a few hours labour a week on top of dole to be better off.

Why should I work for a pittance to provide others whom don't work with considerably more than me.

Due to my age its either benefits or working £150/190, with nearly £100 of that being state rent and council tax.

25 year olds+ get WTC and higher rate dole, higher rate housing benefit. If they're on the dole they get more than me working.

Why the hell should I work for less than I'd get on dole in a years time, especially when it's only marginally more than current dole.

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Did anyone think to account for how much this would increase the size of the workforce compared to the number of jobs there are (or are likely to be)? You might want everyone to work until 75 but as there won't be any more jobs so they won't be; it'll be cheaper (and inevitable) that you just pay them Jobseeker's Allowance for 20 years of their working life instead. Jobseeker's Allowance is a lot cheaper than a pension for the government to pay. Maybe that's the plan. :unsure:

Google the lump of labour fallacy please.

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Longer life doesn't necessarily mean longer quality life. The human body wears out after so many years and science can't stop this, it only drags out the dying process for longer and longer.

That I am afraid is the truth. Physical work in particular wears out the joints etc quite rapidly after 50. Other faculties such as sight and hearing fail from 60-70 onwards. I personally think the projections of 1 in 6 living to a 100 will never materialise. Of course as always the rich will live longer than the poor. The latter will be forced to work ever longer the pensions of the former.

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That I am afraid is the truth. Physical work in particular wears out the joints etc quite rapidly after 50. Other faculties such as sight and hearing fail from 60-70 onwards. I personally think the projections of 1 in 6 living to a 100 will never materialise. Of course as always the rich will live longer than the poor. The latter will be forced to work ever longer the pensions of the former.

Maybe in the past, but I believe cyberware will come online sometime in the future, chips can already be implanted to control artificial limbs based upon thought. 2030 I reckon people will go to clinics in New Beijing or Neo Tokyo and have worn out parts replaced with either vat grown organic components from your cloned DNA with the telomere restored to a stage when you were younger. And replaced, like your eyes, arms, legs even individual organs or bones.

Or they can opt for performance organic/mechanical hybrid parts which offer more strength and performance over the solely organic parts, which cost more and require fuel of somekind. Though as I've seen somewhere vampire type systems have been developped which can power small machines off the sugar content in the blood of mice it has been grafted to.

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Longer life doesn't necessarily mean longer quality life. The human body wears out after so many years and science can't stop this, it only drags out the dying process for longer and longer.

Science can stop this, but not conventional science. Conventionally, scientists wait for age related damage to occur, and then when that damage causes disease. What we should do it to try to tackle the damage before it causes disease.

Genius and modern day Einstein, Aubrey de Grey explains this here.

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I think what they really mean is you won't be able to claim your state pension till your 70 but you can claim the dole for 10 years before you get to retire.

Now we just need jobs for 60-70 year olds to do. Can't be policemen, fireman etc....

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Guest spp

Longer life doesn't necessarily mean longer quality life. The human body wears out after so many years and science can't stop this, it only drags out the dying process for longer and longer.

It's just an excuse 'they' use to cover up the ponzi.

"You're not gonna believe this, we gotta go back to 1955"

http://www.jahozafat.com/php/sounds/?id=gog&media=WAVS&type=Movies&movie=Back_To_The_Future_II&quote=believeit.txt&file=believeit.wav

Socialism is collapsing.

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Google the lump of labour fallacy please.

The lump of labour fallacy is a fallacy...or at least the amount of work that people are willing ot pay others for is limited.

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Longevity may be increasing, but physical and mental fitness in later life isn't. The abilities of an average 75 year old are much the same as they were. Indeed due to diet and 'diseases of civilisation', they may even be getting worse on average.

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Guest The Relaxation Suite

For the last five years I have been trying to make people understand that there will be no retirement age for today's youth. Not 80, not 75, but never. No retirement age. This will be sold to the plebs as the state doing them a favour; working until you die of a stroke at your desk when you're 87 years old will be normal and natural, just like it was in days of yore before the welfare state started up.

Those staying in Britain will have to get used to it. Those who move all their wealth to a developing country will not have to get used to it. Even countries like Australia and Canada with all those resources - feeding and fuelling the whole world - and with miniscule populations will still work their people to death - and why is that? Who owns all that wealth under the ground in Australia? The people? ****** off do they. A small handful of corrupt families who sold it all to Chinese conglomerates. But Westerners are waking up to the theft and looting that they have been subjected to.

Edited by Tecumseh

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Longevity may be increasing, but physical and mental fitness in later life isn't. The abilities of an average 75 year old are much the same as they were. Indeed due to diet and 'diseases of civilisation', they may even be getting worse on average.

I have a lot of contact with older people, and many of them are still sound mentally. They keep both the mind and body active. Generally these are the ones whom have worked hard, some are running their own trust funds from their own savings, funding local children's cricket teams etc..

I don't the the retirement age is something to worry about, we have a massive problem with work incentives.

So many of working age could work! If work paid!

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+1

When women entered the workforce in their millions it didn't displace men.

Didn't it.

ITYF that the increase in male unemployment in the 80s/90s pretty much equalled the increase in women in the workforce. The "men" only got back to work during the noughties boom

tim

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Didn't it.

ITYF that the increase in male unemployment in the 80s/90s pretty much equalled the increase in women in the workforce. The "men" only got back to work during the noughties boom

tim

+1

Women returning to the workforce after having children have also displaced the next generation of young women leaving full time education. However many are now waking up to the fact that the have it all family and carrer life style that they have been sold is a con.

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Am I the only one to think that life expectancy will start to decrease in the future? The elderly today born in the 20s and 30s will have led a life of relatively low fat diets and healthy food and lots of outdoor exercise. Many people born in the past 20 to 30 years spend the whole day eating chips and pizzas and playing computer games. Just take a walk down a high street and see the number of mobile heart attack candidates waddling around.

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Guest The Relaxation Suite

Am I the only one to think that life expectancy will start to decrease in the future? The elderly today born in the 20s and 30s will have led a life of relatively low fat diets and healthy food and lots of outdoor exercise. Many people born in the past 20 to 30 years spend the whole day eating chips and pizzas and playing computer games. Just take a walk down a high street and see the number of mobile heart attack candidates waddling around.

Could be. You have to balance this against new "fat-busting" medicines and other medical tech coming along to combat the determination of the obese to kill themselves prematurely.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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      • up 5%



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