| Work 'til you're 75 19:11 - Aug 22 with 9504 views | colinallcars |
Suggested by a right wing think-tank the other day. I thought someone on here might have commented, so I've put it up. Depends on the sort of job. If heavy labouring it'd be work 'til you drop. Then there's the effect it would have on employment prospects for younger workers. Me, I wouldn't mind a few extra years, dunno about 75 though !
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| Work 'til you're 75 on 13:45 - Aug 23 with 1279 views | stowmarketrange |
| Work 'til you're 75 on 12:52 - Aug 23 by Clive_Anderson |
Yeah it's completely unsustainable.
But the old promised themselves all this unrealistic free money, so those that were unborn at the time of these promises will just have to stump up the cash, despite no prospect of them having the same benefits themselves when the times comes. |
When I shuffle off this mortal coil,my kids will inherit the house,my money in the bank,my insurance polices,my cars and various other bits and bobs,assuming it doesn’t all get swallowed in care home fees.
I estimate the total sum to be well over £500,000 at a minimum,split 3 ways,which after tax,still amounts to a fair sum each.
When my parents died they left me a total of £7k.And that was a lot more than what their parents left them,so I consider myself luckier than them.
Tell me again who are the lucky generation? |  | | |
| Work 'til you're 75 on 13:45 - Aug 23 with 1279 views | MrSheen |
| Work 'til you're 75 on 13:27 - Aug 23 by jonno |
Life expectancy increasing is not restricted to the UK yet other countries in the world have not blatantly reneged on paying pensions to a specific group of people as the UK government has. In fact it is up to a country's government to keep on top of state pension arrangements and make plans accordingly - something successive governments in the UK failed to do despite the evidence of increased life expectancy over many years. Something else - very few people realise that the UK state pension is the lowest in the developed world. Even the Mexican state pension is higher than that paid by the UK. As I say, the UK government could afford to pay the pensions which were agree many years ago, but they simply choose not to. |
I'd love to see the evidence for that Mexican claim. This report from the UK parliament doesn't support it.
https://researchbriefings.parliament.uk/ResearchBriefing/Summary/SN00290#fullrep
The Mexican state spends 2.0% of GDP on public pensions, compared to 5.2% in the UK. GDP per head is much lower in Mexico.14% of UK pensioners live in poverty as defined officially, compared to 25% in Mexico.
State pension isn't the sole source of pension provision; some countries such as the UK encourage employer and personal pensions to a greater degree than others. The Greeks spend the most on public pensions in the OECD (13.8% of GDP), but is that the right model for us? |  | | |
| Work 'til you're 75 on 13:47 - Aug 23 with 1270 views | CaptainPugwash |
Arrrrrrrr...
Bet yo ain't come acrorse a 75 year 'ol lion tamer...
Yo ho. |  | | |
| Work 'til you're 75 on 13:48 - Aug 23 with 1266 views | TacticalR |
@BazzaInTheLoft 'I think you all know me well enough to know where I’m going with this.'
Not some misguided scheme to prolong life?
Much better to listen to Malthus:
'We should facilitate, instead of foolishly and vainly endeavouring to impede, the operations of nature in producing this mortality; and if we dread the too frequent visitation of the horrid form of famine, we should sedulously encourage the other forms of destruction, which we compel nature to use. Instead of recommending cleanliness to the poor, we should encourage contrary habits. In our towns we should make the streets narrower, crowd more people into the houses, and court the return of the plague. In the country, we should build our villages near stagnant pools, and particularly encourage settlements in all marshy and unwholesome situations. But above all, we should reprobate specific remedies for ravaging diseases; and those benevolent, but much mistaken men, who have thought they were doing a service to mankind by projecting schemes for the total extirpation of particular disorders.'
Robert Malthus, Book IV, Chapter V, An Essay on the Principle of Population (1798)
https://www.econlib.org/library/Malthus/malPlong.html?chapter_num=47#book-reader
Incidentally, Farage was sounding off about population in his CPAC speech in Australia this month. |  |
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| Work 'til you're 75 on 13:51 - Aug 23 with 1252 views | Clive_Anderson |
| Work 'til you're 75 on 13:43 - Aug 23 by BazzaInTheLoft |
Can you post your sources for that? Preferably not Guido or Turning Point. The WHO perhaps?
Their system is fine, the vulnerability to embargos and Oil price manipulation isn’t.
Anyway let’s leave it there. |
You genuinely think they are doing well? I'm surprised you'd try and claim that to be honest, when even a two second check can show that not to be the case.
https://www.nytimes.com/2019/05/17/world/americas/venezuela-economy.html
"Venezuela’s fall is the single largest economic collapse outside of war in at least 45 years, economists say."
Article in the Guardian about people fleeing Venezuela for Brazil:
https://www.theguardian.com/global-development/2018/dec/24/venezuelan-exodus-bra
“We had to leave Venezuela. There is nothing to eat and children are dying of hunger,” |  | | |
| Work 'til you're 75 on 13:53 - Aug 23 with 1242 views | MrSheen |
| Work 'til you're 75 on 13:32 - Aug 23 by BazzaInTheLoft |
Their life expectancy is going in the right direction and is a lot higher than most of the capitalist countries in the region, and the majority of US states.
That’s despite an illegal embargo from the US and EU including medical supplies.
🤷â€â™‚ï¸
I’ll be going there next February so I’ll pass on your regards. Let’s not get into it here, we’ll save it until your retirement party presuming you are awake for it. [Post edited 23 Aug 2019 13:34]
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https://www.macrotrends.net/countries/VEN/venezuela/life-expectancy
Peaked in 2013 unfortunately, down a year since. Higher than Guyana and Suriname, but five years less than Colombia, and below their other neighbours. Cuba still holding up.
There isn't a single American State with lower life expectancy than Venezuela, even at its peak.
https://en.wikipedia.org/wiki/List_of_U.S._states_and_territories_by_life_expect [Post edited 23 Aug 2019 14:03]
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| Work 'til you're 75 on 13:58 - Aug 23 with 1226 views | Clive_Anderson |
| Work 'til you're 75 on 13:45 - Aug 23 by stowmarketrange |
When I shuffle off this mortal coil,my kids will inherit the house,my money in the bank,my insurance polices,my cars and various other bits and bobs,assuming it doesn’t all get swallowed in care home fees.
I estimate the total sum to be well over £500,000 at a minimum,split 3 ways,which after tax,still amounts to a fair sum each.
When my parents died they left me a total of £7k.And that was a lot more than what their parents left them,so I consider myself luckier than them.
Tell me again who are the lucky generation? |
So you've amassed half a million in assets, far more than the previous generation and you think the young who are skint should be taxed higher to give you even more money? On the off chance some of them might inherit something.
I don't really understand this argument. | | | |
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| Work 'til you're 75 on 14:09 - Aug 23 with 1189 views | CaptainPugwash |
| Work 'til you're 75 on 13:58 - Aug 23 by Clive_Anderson |
So you've amassed half a million in assets, far more than the previous generation and you think the young who are skint should be taxed higher to give you even more money? On the off chance some of them might inherit something.
I don't really understand this argument. |
Arrrrrrr?
How can young be taxed higher when they be not workin' and lumber 'emselves wi det?Nobody forsed 'em ter go ter "Uni".
It's everyone for 'emselves me hearties.
'scuse me aye've got a cruise liner ter intercept....
Yo Ho! | | | |
| Work 'til you're 75 on 14:11 - Aug 23 with 1183 views | BazzaInTheLoft |
Never said they were doing well.
Just don’t see why it’s Socialism’s fault in Venezuela or Cuba but never Capitalism’s fault in Puerto Rico or Detroit (and that’s without a embargo!).
Capitalism is LITERALLY setting fire to our planet and you are getting off on some bullshit about Venezualens eating zoo animals. |  | | |
| Work 'til you're 75 on 14:11 - Aug 23 with 1182 views | stowmarketrange |
| Work 'til you're 75 on 13:58 - Aug 23 by Clive_Anderson |
So you've amassed half a million in assets, far more than the previous generation and you think the young who are skint should be taxed higher to give you even more money? On the off chance some of them might inherit something.
I don't really understand this argument. |
My estate will inherit it,not me.What will they inherit if it all gets taken in care fees?We all had to pay for the previous generations pensions and that’s the way it goes.
I don’t see how they will pay any less tax if we work until we drop?The government will always find something to spend the extra tax on. | | | |
| Work 'til you're 75 on 14:17 - Aug 23 with 1169 views | Clive_Anderson |
| Work 'til you're 75 on 14:11 - Aug 23 by BazzaInTheLoft |
Never said they were doing well.
Just don’t see why it’s Socialism’s fault in Venezuela or Cuba but never Capitalism’s fault in Puerto Rico or Detroit (and that’s without a embargo!).
Capitalism is LITERALLY setting fire to our planet and you are getting off on some bullshit about Venezualens eating zoo animals. |
Venezuela's economy collapsed way before the embargo...which was just trying to stop the socialist leaders stealing all the money (MarÃa Gabriela Chávez is the richest person in the country amazingly).
But it's funny you think their problems are all because they aren't able to trade more with the nasty capitalist US.
You've picked a couple of the worst places in the West to compare with your socialist utopia and they are still much better places to live  | | | |
| Work 'til you're 75 on 14:28 - Aug 23 with 1141 views | BazzaInTheLoft |
| Work 'til you're 75 on 14:17 - Aug 23 by Clive_Anderson |
Venezuela's economy collapsed way before the embargo...which was just trying to stop the socialist leaders stealing all the money (MarÃa Gabriela Chávez is the richest person in the country amazingly).
But it's funny you think their problems are all because they aren't able to trade more with the nasty capitalist US.
You've picked a couple of the worst places in the West to compare with your socialist utopia and they are still much better places to live |
Fine, pick any of the other 150 countries that are below Venezuela in the UN HDI. I used Detroit as an example because the Life Expectancy is 61 in some places and they don’t have clean running water in the largest economy in the world yet Capitalism gets a free pass.
Again, let’s not bore everyone or get this otherwise interesting thread closed down. | | | |
| Work 'til you're 75 on 14:29 - Aug 23 with 1131 views | jonno |
| Work 'til you're 75 on 14:11 - Aug 23 by stowmarketrange |
My estate will inherit it,not me.What will they inherit if it all gets taken in care fees?We all had to pay for the previous generations pensions and that’s the way it goes.
I don’t see how they will pay any less tax if we work until we drop?The government will always find something to spend the extra tax on. |
The point is that they shouldn't have to pay any more in tax but they may have to pay in NI contributions over a longer period due to the demographic situation, but at least they would be aware of that early on in their working lives. It's up to the government to manage the situation so that pensions that were supposed to be guaranteed are honoured. They should be the first thing that money is spent on before anything else. Yet in fact the government has in fact robbed the NI pension pot to reduce the national debt - a potentially illegal activity. I absolutely have no problem in waiting another six months or a year for my pension (due to the incompetence of previous governments in managing the situation) but what the government have done to 1950s women is scandalous, and the ironic thing is that they money they save in doing that is not even a huge amount in comparative terms. They could reign in some of the other spending they make, much of it wasteful, to cover those pensions but they simply refuse to, purely I suspect as the numbers of people impacted are so small they don't see it as much of a vote loser.
[Post edited 23 Aug 2019 14:31]
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| Work 'til you're 75 on 14:37 - Aug 23 with 1121 views | ozexile |
| Work 'til you're 75 on 14:29 - Aug 23 by jonno |
The point is that they shouldn't have to pay any more in tax but they may have to pay in NI contributions over a longer period due to the demographic situation, but at least they would be aware of that early on in their working lives. It's up to the government to manage the situation so that pensions that were supposed to be guaranteed are honoured. They should be the first thing that money is spent on before anything else. Yet in fact the government has in fact robbed the NI pension pot to reduce the national debt - a potentially illegal activity. I absolutely have no problem in waiting another six months or a year for my pension (due to the incompetence of previous governments in managing the situation) but what the government have done to 1950s women is scandalous, and the ironic thing is that they money they save in doing that is not even a huge amount in comparative terms. They could reign in some of the other spending they make, much of it wasteful, to cover those pensions but they simply refuse to, purely I suspect as the numbers of people impacted are so small they don't see it as much of a vote loser.
[Post edited 23 Aug 2019 14:31]
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Well they'll keep doing it cause there's no recourse. Vote them out and the next government will say there's nothing they can do as they inherited a terrible situation. And the cycle continues. | | | |
| Work 'til you're 75 on 14:39 - Aug 23 with 1119 views | paulparker |
| Work 'til you're 75 on 09:57 - Aug 23 by BazzaInTheLoft |
Your kids might be in a pickle though! |
They can fend for themselves |  |
| And Bowles is onside, Swinburne has come rushing out of his goal , what can Bowles do here , onto the left foot no, on to the right foot
That’s there that’s two, and that’s Bowles
Brian Moore
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| Work 'til you're 75 on 14:44 - Aug 23 with 1090 views | Watford_Ranger |
| Work 'til you're 75 on 13:45 - Aug 23 by stowmarketrange |
When I shuffle off this mortal coil,my kids will inherit the house,my money in the bank,my insurance polices,my cars and various other bits and bobs,assuming it doesn’t all get swallowed in care home fees.
I estimate the total sum to be well over £500,000 at a minimum,split 3 ways,which after tax,still amounts to a fair sum each.
When my parents died they left me a total of £7k.And that was a lot more than what their parents left them,so I consider myself luckier than them.
Tell me again who are the lucky generation? |
The one that pretends it fought in the wars its grandparents did, bought houses with no deposits for loose change and will die just before the planet eats itself. | | | |
| Work 'til you're 75 on 14:55 - Aug 23 with 1071 views | Clive_Anderson |
| Work 'til you're 75 on 14:28 - Aug 23 by BazzaInTheLoft |
Fine, pick any of the other 150 countries that are below Venezuela in the UN HDI. I used Detroit as an example because the Life Expectancy is 61 in some places and they don’t have clean running water in the largest economy in the world yet Capitalism gets a free pass.
Again, let’s not bore everyone or get this otherwise interesting thread closed down. |
Probably because they judge the system by the whole country rather than just a tiny part you've picked because it's the worst place. Seems strange you'd even try that trick. | | | |
| Work 'til you're 75 on 15:01 - Aug 23 with 1057 views | Rangersw12 |
| Work 'til you're 75 on 13:45 - Aug 23 by stowmarketrange |
When I shuffle off this mortal coil,my kids will inherit the house,my money in the bank,my insurance polices,my cars and various other bits and bobs,assuming it doesn’t all get swallowed in care home fees.
I estimate the total sum to be well over £500,000 at a minimum,split 3 ways,which after tax,still amounts to a fair sum each.
When my parents died they left me a total of £7k.And that was a lot more than what their parents left them,so I consider myself luckier than them.
Tell me again who are the lucky generation? |
The generation who had access to the best pensions , jobs for life and real affordable housing | | | |
| Work 'til you're 75 on 15:03 - Aug 23 with 1052 views | nix |
| Work 'til you're 75 on 13:45 - Aug 23 by stowmarketrange |
When I shuffle off this mortal coil,my kids will inherit the house,my money in the bank,my insurance polices,my cars and various other bits and bobs,assuming it doesn’t all get swallowed in care home fees.
I estimate the total sum to be well over £500,000 at a minimum,split 3 ways,which after tax,still amounts to a fair sum each.
When my parents died they left me a total of £7k.And that was a lot more than what their parents left them,so I consider myself luckier than them.
Tell me again who are the lucky generation? |
How old are you now though? Say you’ve got children in their teens and you’re in your fifties, you could live another 40 years (my dad is 100). So when they get the mythical money, they will be in their 50s-60s. They may not have been able to afford to buy a property in your area because of all the other older people hanging onto their properties in order to leave them to their children, thereby keeping property prices artificially high. But you may need to sell your house for care fees. So you may not be able to leave all the money to your kids.
That’s without those children whose parents don’t have property or leave it to second families.
I’d much rather have my situation of final salary pension and being able to buy my first flat at 22. |  | | |
| Work 'til you're 75 on 15:05 - Aug 23 with 1041 views | Lblock |
I’m hoping to semi retire as soon as possible
Reckon another year or two max
It’s what to fill the days with that’s the issue hence hoping to keep a bit of freelance work going
Where’s all the stuff my grandparents used to do gone? People throw this word community about but it’s bolloix; there’s no such thing and hasn’t been for decades
Maybe I’ll find it when I move out of West London to a nice pad by the sea |  |
| Cherish and enjoy life.... this ain't no dress rehearsal |
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| Work 'til you're 75 on 15:18 - Aug 23 with 1011 views | DavieQPR |
| Work 'til you're 75 on 14:28 - Aug 23 by BazzaInTheLoft |
Fine, pick any of the other 150 countries that are below Venezuela in the UN HDI. I used Detroit as an example because the Life Expectancy is 61 in some places and they don’t have clean running water in the largest economy in the world yet Capitalism gets a free pass.
Again, let’s not bore everyone or get this otherwise interesting thread closed down. |
Or is it because Detroit is run by Left Wing Democrats who have bankrupt the most corrupt city in America. |  | | |
| Work 'til you're 75 on 15:19 - Aug 23 with 1008 views | stowmarketrange |
| Work 'til you're 75 on 15:03 - Aug 23 by nix |
How old are you now though? Say you’ve got children in their teens and you’re in your fifties, you could live another 40 years (my dad is 100). So when they get the mythical money, they will be in their 50s-60s. They may not have been able to afford to buy a property in your area because of all the other older people hanging onto their properties in order to leave them to their children, thereby keeping property prices artificially high. But you may need to sell your house for care fees. So you may not be able to leave all the money to your kids.
That’s without those children whose parents don’t have property or leave it to second families.
I’d much rather have my situation of final salary pension and being able to buy my first flat at 22. |
Nobody can say for certain how long they have left,but im 59 next month,but I feel like 70 at times and I can’t me lasting anywhere near another 40 years.
If my marbles go I’ll be straight over to digitas ASAP. | | | |
| Work 'til you're 75 on 15:20 - Aug 23 with 1005 views | Toast_R |
Turned 40 this year, soon as the mortgage is paid and the kids have vacated, I'll be looking to wind down. The thought of working until 75 is just nuts. You'd be 5 years over the life expectancy benchmark according to my old man who always said - 3 score years and 10, anything after that is a bonus. [Post edited 23 Aug 2019 15:21]
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