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Future Generations To Work Even Longer As State Pension Ponzi Unwinds

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As part of his flagship pension reforms, Mr Osborne announced last year that increases in life expectancy will automatically trigger a rise in life-expectancy.

As Eric Morcambe might have said, you can't argue with that.

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"the pressure that Britain's ageing population is putting on public finances"

Which was of course, completely predictable. In the face of this inevitability, our leaders decided to built up lots of debt, attempting to shift it onto the next generation. I wonder if they will pay or not.

Anyway,when the antibiotics will stop working, life expectancy will drop far enough so that no-one gets to retire :)

Government policy for us seems to be "take on lots of debt, pay us lots of tax, work until you drop, spend to give us lots of VAT".

The tattoo on the inside of my eyelids says "avoid debt, avoid higher rate tax/NI, retire early, live cheap".

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"the pressure that Britain's ageing population is putting on public finances"

Which was of course, completely predictable. In the face of this inevitability, our leaders decided to built up lots of debt, attempting to shift it onto the next generation. I wonder if they will pay or not.

Anyway,when the antibiotics will stop working, life expectancy will drop far enough so that no-one gets to retire :)

Government policy for us seems to be "take on lots of debt, pay us lots of tax, work until you drop, spend to give us lots of VAT".

The tattoo on the inside of my eyelids says "avoid debt, avoid higher rate tax/NI, retire early, live cheap".

It was predictable as was the growing demand for the NHS......financial planning was deliberately put off in favour of re-election/ jam today politics. There has been a criminal indulgence in the today on the basis that tomorrow we would be able to afford these extra liabilities. Economic growth hitting the buffers has proved otherwise.

Unfunded short term promises always seem to override the welfare of those that will follow.

Edited by crashmonitor

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"the pressure that Britain's ageing population is putting on public finances"

Which was of course, completely predictable. In the face of this inevitability, our leaders decided to built up lots of debt, attempting to shift it onto the next generation. I wonder if they will pay or not.

Anyway,when the antibiotics will stop working, life expectancy will drop far enough so that no-one gets to retire :)

Government policy for us seems to be "take on lots of debt, pay us lots of tax, work until you drop, spend to give us lots of VAT".

The tattoo on the inside of my eyelids says "avoid debt, avoid higher rate tax/NI, retire early, live cheap".

You missed the bit about been beaten over the head with a green stick for actually following their demands to spend and actually buying stuff and then having the temerity to expect the rubbish left over to be collected and taken away.

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"the pressure that Britain's ageing population is putting on public finances"

Which was of course, completely predictable. In the face of this inevitability, our leaders decided to built up lots of debt, attempting to shift it onto the next generation. I wonder if they will pay or not.

Anyway,when the antibiotics will stop working, life expectancy will drop far enough so that no-one gets to retire :)

Government policy for us seems to be "take on lots of debt, pay us lots of tax, work until you drop, spend to give us lots of VAT".

The tattoo on the inside of my eyelids says "avoid debt, avoid higher rate tax/NI, retire early, live cheap".

Excellent.

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"the pressure that Britain's ageing population is putting on public finances"

Which was of course, completely predictable. In the face of this inevitability, our leaders decided to built up lots of debt, attempting to shift it onto the next generation. I wonder if they will pay or not.

Anyway,when the antibiotics will stop working, life expectancy will drop far enough so that no-one gets to retire :)

Government policy for us seems to be "take on lots of debt, pay us lots of tax, work until you drop, spend to give us lots of VAT".

The tattoo on the inside of my eyelids says "avoid debt, avoid higher rate tax/NI, retire early, live cheap".

It's a good job the proportion or retirees to workers isn't increasing.

jeremy warner (@JeremyWarnerUK) tweeted at 9:45 am on Fri, Jul 11, 2014:

Love this OBR graphic, showing the UK distribution of tax and spend according to age. Gets terrifying much beyond 65.

http://t.co/3OoxVMCwNF

(https://twitter.com/JeremyWarnerUK/status/487517908181217280)

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They can't have it both ways....wanting to increase both the population levels and expecting to have fewer old expensive people...now two wages required to provide a living wage, pay debt and provide growth thus encouraging fewer births.....anyway it would be wonderful if there existed a living or even half living wage for all aged 18 to 70......it never has or never will. ;)

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"the tattoo on the inside of my eyelids says `avoid debt, avoid higher rate tax/NI retire early live cheap`

I`m sick.(but not so you`d notice)

Work eleven hours a week

NI is covered by IIDB and will be until I`m 66

Shop at aldi.

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Unfortunately I have no intention of fulltime employment till 70. I will be part time in around 3 years (Mortgage just about gone). We managed to function on about £5400 (mortgage taken off) a few years back. Now this was not allowing for things breaking down of cause, and very few chocolate bars! Part time, both working should work out at around £30k, higher if contract. It does look like a no brainer.

I can see people working part time for as long as they are able (Half the chaps at our work are past 60 and a few 80 year olds!). I do wonder at how many people died due to working too hard. Plenty of people I know died, or did not pick up on serious illnesses as they worked all hours in there 60’s. This masked the warning signs as ‘Stress’.

Being a Consumer with debt certainly narrows your options to working till you drop. Bloke at work, his wife is changing jobs near the summer holidays. I asked why not take a few weeks off, see the kids rather than juggling them off to the relatives before the new job starts.

Apparently, ‘Not financially viable’.

….Wow.

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"the pressure that Britain's ageing population is putting on public finances"

Which was of course, completely predictable. In the face of this inevitability, our leaders decided to built up lots of debt, attempting to shift it onto the next generation. I wonder if they will pay or not.

Exactly. The 'hard choices' being made now about retirement age, care costs etc. should all have been made in the 60's when this demographic timebomb was being manufactured. But no. One generation lived by an unsustainable set of rules and now intend to have the following generations pay for it.

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