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Who Wants To Work Forever?

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Anybody else watching this on ITV?

Pushing the idea that people should be saving towards their old age or face the prospect of working till they drop.

Personally I'm not relying on my pension being there when I get to retirement age (I'm 26 now) and to be perfectly honest I think I can do better investing it by myself. I'm not a higher rate taxpayer so I don't get a great deal of tax relief on my contributions anyway.

My pension scheme just got changed over to RPI which will steal about 40-60% of my contributions over time, and I can't claim it until I'm 67. Lovely jubbly.

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Anybody else watching this on ITV?

Pushing the idea that people should be saving towards their old age or face the prospect of working till they drop.

Personally I'm not relying on my pension being there when I get to retirement age (I'm 26 now) and to be perfectly honest I think I can do better investing it by myself. I'm not a higher rate taxpayer so I don't get a great deal of tax relief on my contributions anyway.

My pension scheme just got changed over to RPI which will steal about 40-60% of my contributions over time, and I can't claim it until I'm 67. Lovely jubbly.

You'll never collect it.

41 years - a lot is going to change in that time, a lot more than has changed in the last 41 years.

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We are heading back towards the Victorian and pre-Victorian era where only the elites got to "retire" everyone else can work until dead!

Exactly, also there is imo the likelihood of an event that reduces the population a lot during those 41 years. After the financial system breaks and menial tasks can be done by robots, most people will be of no further use, in fact they will be in the way.

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Exactly, also there is imo the likelihood of an event that reduces the population a lot during those 41 years. After the financial system breaks and menial tasks can be done by robots, most people will be of no further use, in fact they will be in the way.

Failing antibiotics anyone?

Plague is reappearing in parts of the US.

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Failing antibiotics anyone?

Plague is reappearing in parts of the US.

Lots of different possibilities regarding how it will happen. The bigger picture is that at the moment, while pseudo-capitalism remains, people are needed to funnel wealth and resources to the top, and menial tasks can't be done easily by robots yet. When that is no longer the case, something will happen, it's in our nature.

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Will prison be free when ts time to retire?

Might be an idea to change your name from Sarah before the elites start sending the terminators after us.

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Just watched it.......one third of people do not put anything towards their pensions at any age.... many who do think the income from what they do pay in will be greater than what it actually will be.....at age of 23 ~ £250 every month rising annually with inflation to get £20k pa equivalent pension at 60. :o

OAP = Old And Poor.

......with so many other demands on incomes I am not surprised people are putting their heads in the sand when it comes to future pension provision.......another elephant in the room, soon there will be no space in the room, no money left in the bank account......no energy or health left to work forever.....no time left to draw a pension, all worked for in vain ;)

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At least you stand a reasonable chance of still being alive to claim it at 67 nowadays.

I believe it is already pencilled in at 69 for those in their twenties, 68 for those in their early to mid forties. But the goalposts will move a few times agian before than.

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I believe it is already pencilled in at 69 for those in their twenties, 68 for those in their early to mid forties. But the goalposts will move a few times agian before than.

...reversing carrot at front end, an evermore painful stick at rear end. ;)

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Just watched it.......one third of people do not put anything towards their pensions at any age.... many who do think the income from what they do pay in will be greater than what it actually will be.....at age of 23 ~ £250 every month rising annually with inflation to get £20k pa equivalent pension at 60. :o

OAP = Old And Poor.

......with so many other demands on incomes I am not surprised people are putting their heads in the sand when it comes to future pension provision.......another elephant in the room, soon there will be no space in the room, no money left in the bank account......no energy or health left to work forever.....no time left to draw a pension, all worked for in vain ;)

Not keen on personal pensions either. If I get the state pension I will manage, so why double up with a personal one. Meanwhile having ordinary savings enables you to go earlier. I believe that the aged 55 qualification will rise for taking a personal pension, as it has already from 50. Control is lost.

We could actually retire now, we are close to the maximum 35 year contribututions each for maximum state pension(70 years in aggregate). the only thing stopping me is the stigma of being seen not to work at a mere 50. Nobody is happy until you have dropped dead of a heart attcak on the job these days.

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Not keen on personal pensions either. If I get the state pension I will manage, so why double up with a personal one. Meanwhile having ordinary savings enables you to go earlier. I believe that the aged 55 qualification will rise for taking a personal pension, as it has already from 50. Control is lost.

We could actually retire now, we are close to the maximum 35 year contribututions each for maximum state pension(70 years in aggregate). the only thing stopping me is the stigma of being seen not to work at a mere 50. Nobody is happy until you have dropped dead of a heart attcak on the job these days.

That is another thing to consider, old style work pensions used to have generous life cover built in....how many work places or pension plans have that nowadays?

How many still have huge debts but little or no life cover?........more and more people have no other option but to live for today leaving things to fate, and hope the light shines on them. ;)

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Not keen on personal pensions either. If I get the state pension I will manage, so why double up with a personal one. Meanwhile having ordinary savings enables you to go earlier. I believe that the aged 55 qualification will rise for taking a personal pension, as it has already from 50. Control is lost.

We could actually retire now, we are close to the maximum 35 year contribututions each for maximum state pension(70 years in aggregate). the only thing stopping me is the stigma of being seen not to work at a mere 50. Nobody is happy until you have dropped dead of a heart attcak on the job these days.

Do it now,you will feel so much better.Put away the alarm clock,the only time we use one is if there is a plane or tide to catch.Do what you want when you feel like it and to hell with anyone who tells you "you ought to..."

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Do it now,you will feel so much better.Put away the alarm clock,the only time we use one is if there is a plane or tide to catch.Do what you want when you feel like it and to hell with anyone who tells you "you ought to..."

+1 ....if you can they say do it sooner rather than later, grab it whilst you can....retiring doesn't mean stopping working, it means a different type of work...the work you never had time to do, activities you never had time to do....not everyone can do it, not everyone wants to do it......but having a plan helps, even though often the plan keeps changing due to unforeseen life circumstances. ;)

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Well, I`ve finally finished over the past week. I should have enough money to see me through from 54 to 66. All I need is an old man`s car (twin pot Fiat panda!) and I`ll be there.

I hate work.

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Well, I`ve finally finished over the past week. I should have enough money to see me through from 54 to 66. All I need is an old man`s car (twin pot Fiat panda!) and I`ll be there.

I hate work.

After being on the dole in fits and starts, I would almost happily keep on working..I would climb up the walls if there's nothing to do all day - day after day...as I get older, I'd prefer it to be on my own terms though...I don't want to spend my old age in poverty (as I suspect there wont really be a pension fund in the next 3 or 4 decades), and I would go absolutely potty spending a couple of decades on the golf course...

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After being on the dole in fits and starts, I would almost happily keep on working..I would climb up the walls if there's nothing to do all day - day after day...as I get older, I'd prefer it to be on my own terms though...I don't want to spend my old age in poverty (as I suspect there wont really be a pension fund in the next 3 or 4 decades), and I would go absolutely potty spending a couple of decades on the golf course...

I will stop working the first chance I get. Currently early 40s and if all goes well I hope to be retired before 50.

Can't understand people who want to keep working other than the narcissists and sociopaths in upper management or the few people who actually do something worth-while (say, a doctor). In the world of the big corporates (where I've always worked) nothing you do is appreciated or makes much difference in the long run. Much better to spend your time on family, hobbies, travel.

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After being on the dole in fits and starts, I would almost happily keep on working..I would climb up the walls if there's nothing to do all day - day after day...as I get older, I'd prefer it to be on my own terms though...I don't want to spend my old age in poverty (as I suspect there wont really be a pension fund in the next 3 or 4 decades), and I would go absolutely potty spending a couple of decades on the golf course...

I understand.

You need A. something to do and B.enough money...

And yes, golf being a good walk spoiled was really the height of under statement....I`d prefer a good walk.

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Interesting thread.

My choice is retire now with a small house and frugality, or keep working another 5 - 7 years and retire with a big house and money to burn.

I try not to think about it as it doesn't help and I don't want to wish my life away.

Head down, every further year working gives me more comfort in the (hopefully) 40 years I will not be working.

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I understand.

You need A. something to do and B.enough money...

And yes, golf being a good walk spoiled was really the height of under statement....I`d prefer a good walk.

Could well be the way we've been brought up too... I'm from a family of farmer types...my dad is in his later sixties, and I think he'll only retire in his his mid to later seventies, and I wouldn't be at all surprised if I was the same...You need a lot of cash to fund a half decent retirement, which I haven't got, so I haven't got much of a choice... I think work gets your mind incredibly active, and I wouldn't want to become a recluse either in retirement...the interaction between a whole range in a workplace...

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