Should Job-Hogging Over-50S All Resign?

[Quicken]

In all seriousness, I think some kind of reduced pension at say 55 should be considered. If I had no mortgage/rent to worry about at that age, a little state top up of any part time salary would make me consider giving up full time work.

Citizen's income anyone?

[council dweller]

Better still if EVERYONE got t £100.

No one would starve. And no incentives to earn additional sums on top.

We're moving very slowly in that direction....walk before you can run.

[rantnrave]

Better still if EVERYONE got t £100.

No one would starve, And no incentives to earn additional sums on top. until at least QE4 kicks in.

[council dweller]

I wonder what IDS would think?

Yes, No or I'll think it through.

IDS! Where are you?

(with a load of whoares probably)

[KingBingo]

We're moving very slowly in that direction....walk before you can run.

I mistyped, but yes, actually it was more accurate the first time!

[stormymonday_2011]

So now the idea is that after young people start work at about 21 (after studying and loading up with tuition fee debt) they're out of the labour market at age 50. Some won't be fully qualified until their late 20s if they go into some professions. So that's about 25 years or so of fully paid work and lots of jobs aren't all that well paid (and that's quite apart from those who get UK degrees and still can only find burger flipping jobs).

Actually that's not far different from the reality of the last few decades or so (the fraudulent debt boom mitigating that a bit for a few years in the noughties).

She didn't mention the possibility of house prices coming down which would both make her idea (retire at 50) a bit more achievable / practical for most people and also help UK people become more competitive helping to create the extra jobs.

Been saying this for years.

The idea that people can stay in full time education until their early 20s running up student debts then work for 30 years in which time they buy a house and accrue enough savings for retirement is laughable. As you rightly say the incoherence of most of the economic mantras spouted over the last 20 years has only been covered up by a mouintain of debt. Its logical incoherence is now plain for all to see yet we still see the same old crap being spouted in the media.Most people over 55 dont work because they love their jobs. They do it simply to pay their bills

[Bloo Loo]

there are resources to house everyone.

There is food for everyone.

There is energy for everyone.

There is clean water for everyone.

the only thing NOT actually functioning is the financial system.

Without this system, there is plenty for everyone...young, old, middle aged, disabled.

The wrong problem is being looked at.

[KingBingo]

there are resources to house everyone.

There is food for everyone.

There is energy for everyone.

There is clean water for everyone.

the only thing NOT actually functioning is the financial system.

Without this system, there is plenty for everyone...young, old, middle aged, disabled.

The wrong problem is being looked at.

I would say with money itself, but yes.

In a functional economy wealth starts with those that produce. In a fiat money system wealth starts with those that control money ie. the parasites controlling banks or the state.

We will never have a sound economy, until we have sound money.

[Nationalist]

In the future you will work until you drop. Retiring at 50 or 55 is nonsense.

Are you really going to earn enough in a 30 year career to 1) pay off a £30K student debt, 2) save a £30K house deposit, 3) pay off a £150K mortgage, 4) pay £150K in mortgage interest payments 5) raise two kids 6) and save enough to keep you for the next 40 years after retirement?

The kids probably cost £150K over twenty years, you'll need £500K in your pension pot to have a non-hungry retirement (and frankly £1M or more like it!)

...nope, not going to happen.

[Postigol]

kellaway should retire. She's written absolutely nothing of interest since she killed Martin Lukes off. That was the best thing in the FT a few years back. Brilliantly observed, well written modern take on the traditional roman aux lettres.

Now you get crappy articles like this that wouldn't be out of place in Grazia.

zzzzz

if you're reading lucy then you're better than this - pls bring back martin!

[Brendan110_0]

Easy solution would be to ban women from working after having children, that's childcare sorted and free's up millions of jobs. Consumption of depression pills will fall in line with house prices.

Two people working with kids in one household isn't so easy - I'm quite envious of the life my grandfather/mother led in the 50's!!!!

[Georgia O'Keeffe]

Easy solution would be to ban women from working after having children, that's childcare sorted and free's up millions of jobs. Consumption of depression pills will fall in line with house prices.

Two people working with kids in one household isn't so easy - I'm quite envious of the life my grandfather/mother led in the 50's!!!!

no thats silly, it hits tax take and more importantly hurts GDP, completely unproductive, practically terrorism

[leigh delamere]

What about gradually moving towards a much shorter working week for all? There seem to be people out there able and keen to work and yet unable to find any, while others are run ragged, doing unpaid overtime for their employers.

Isn't this what technology was supposed to do for us?

[MrPin]

CBI genereted BS, there is actually just a shortage of engineers wanting to work for just above minimum wage.

Buckers

You share my opinion on the CBI!

[MrPin]

Isn't it remarkable that just 2 days after an article comes out saying how over 50s will all be forced to work until they're 77 then just 2 days later another article comes out saying how over 50s will all be forced to retire.

I was thinking just that!

[stormymonday_2011]

kellaway should retire. She's written absolutely nothing of interest since she killed Martin Lukes off. That was the best thing in the FT a few years back. Brilliantly observed, well written modern take on the traditional roman aux lettres.

Now you get crappy articles like this that wouldn't be out of place in Grazia.

zzzzz

if you're reading lucy then you're better than this - pls bring back martin!

+1

The FT is so intellectually flabby these days it needs a mobility scooter to get about

This sort of sloppy opinion piece would not have got by the sub editor years ago.

All par for the course for this rag I am afraid that has led the rah rah cheering for globalism over the last two decades and now is completely bereft of ideas as the house of cards they have constructed is starting to collapse

Edited April 27, 2012 by stormymonday_2011

[winkie]

What about gradually moving towards a much shorter working week for all? There seem to be people out there able and keen to work and yet unable to find any, while others are run ragged, doing unpaid overtime for their employers.

Isn't this what technology was supposed to do for us?

I gave up my full time job to someone who needs it more and will benefit more from it.......still work less hours, but doing something completely different, best thing I could have done.

[Brendan110_0]

no thats silly, it hits tax take and more importantly hurts GDP, completely unproductive, practically terrorism

How so? The vacant jobs are taken by the young unemployed.

[porca misèria]

This may be ok for a journalist's job with the 35,000 meejah studies graduates the UK was churning out a year but in engineering there is a shortage of skills that cannot be filled.

Or maybe there are a lot of companies treating engineers as junior bods and pay peanuts, so a huge proportion of prospective engineers go into other professions instead, or get out of engineering by about age 30.

[porca misèria]

CBI genereted BS, there is actually just a shortage of engineers wanting to work for just above minimum wage.

Above minimum wage? Things must've improved since I was in that game.

Either that or you're discounting all the unpaid extra hours to nil.

[tinker]

It's all rather surreal isn't it. Almost better to be blissfully ignorant.

The idea that people can stay in full time education until their early 20s running up student debts then work for 30 years in which time they buy a house and accrue enough savings for retirement is laughable. As you rightly say the incoherence of most of the economic mantras spouted over the last 20 years has only been covered up by a mouintain of debt. Its logical incoherence is now plain for all to see yet we still see the same old crap being spouted in the media.Most people over 55 dont work because they love their jobs. They do it simply to pay their bills

Brilliantly succinct summary of where we are, and the ridiculousness of it.

In the future you will work until you drop. Retiring at 50 or 55 is nonsense.

Are you really going to earn enough in a 30 year career to 1) pay off a £30K student debt, 2) save a £30K house deposit, 3) pay off a £150K mortgage, 4) pay £150K in mortgage interest payments 5) raise two kids 6) and save enough to keep you for the next 40 years after retirement?

The kids probably cost £150K over twenty years, you'll need £500K in your pension pot to have a non-hungry retirement (and frankly £1M or more like it!)

...nope, not going to happen.

Nope, it's not.

Easy solution would be to ban women from working after having children, that's childcare sorted and free's up millions of jobs. Consumption of depression pills will fall in line with house prices.

Two people working with kids in one household isn't so easy - I'm quite envious of the life my grandfather/mother led in the 50's!!!!

GDP genie out of the bottle and the sisterhood oppressing the sisters won't have it. As if bringing up a happy family is somehow demeaning.

House prices affordable with one salary would be a healthy place to get back to.

What about gradually moving towards a much shorter working week for all? There seem to be people out there able and keen to work and yet unable to find any, while others are run ragged, doing unpaid overtime for their employers.

Isn't this what technology was supposed to do for us?

I remember this dream we were sold of a leisure society... then the bankers and accountants ran amok.

[Charlie The Tramp Returns]

I'm over 50. If I give up work, what am I supposed to live on?

Are there no Workhouses or Soup Kitchens today ? I understand there are now feeding stations for the hungry or you could rake through David Cameron`s dustbin to get the thrown away caviar or the bones the dog did not want.

Not to worry Nicholarse el Cleggski will be you champion.

[Woot]

And the elephant in the room remains Immigration. Why, when we can't support our existing population or provide them with jobs and homes, do we keep our doors flung wide to the world?

[winkie]

And the elephant in the room remains Immigration. Why, when we can't support our existing population or provide them with jobs and homes, do we keep our doors flung wide to the world?

....because the people that make money, make money from cheaper labour, when you come here from a very bad place, a safe room in a shared house and food in your stomach is better than fear and unknowing.....the brave are always looking for better prospects.

[Charlie The Tramp Returns]

And the elephant in the room remains Immigration. Why, when we can't support our existing population or provide them with jobs and homes, do we keep our doors flung wide to the world?

Because our Politicians have no time for the Indigenous or Naturalised citizens of this country and have the opinion of, get on your bike, cheap labour and big profits are now paramount. As my Grandfather said before he died if I knew what was going to happen today I would have told them you fight their own ******* war, it was not for my benefit or for the benefit of my children and grandchildren`s future.