Retirement at 67
Thread Starter
Joined: Jan 2001
Posts: 109
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From: Right hand seat
Retirement at 67
Having read some of the details of the Turner Report in the Daily Torygraph regarding pensions, how does not being able to draw a state pension until 67 effect those of us forced to retire at 60? Are those employed in the UK shovelling lots of money into private schemes or just keeping fingers crossed?
Joined: Feb 2004
Aviation Qualifications: ATPL
Posts: 3,689
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From: USA
Sounds like it'll work about like it has here in the States: Government says retire @ 60...government says you can't have Social Security until 62...government says, "Too bad for YOU".
Joined: Mar 2005
Posts: 124
Likes: 0
From: way out west
I can just about see that govt. might "get away with it" over a 2 year period. But a 7 year gap?!
Trouble is with the 67yr state pension age not coming in until, best guess, 2050ish, who cares? I'm not being flippant, I mean you're max age 22 right now if this affects you and that probably also means it's not high on your list of priorities (well, wasn't on mine at 22!). Very clever, Mr. Hutton.
Of course, it will be stepped up to 67 or 68, and in any case, the concept is pretty hypocritical in itself.
At the very least, joined up government (assumption!) ought to be able to maintain the current 5yr gap with exactly the same longevity logic.
I'm sure someone will educate me on what BALPA really plan to do about this, other than suggest I save more than £1.4m...
Trouble is with the 67yr state pension age not coming in until, best guess, 2050ish, who cares? I'm not being flippant, I mean you're max age 22 right now if this affects you and that probably also means it's not high on your list of priorities (well, wasn't on mine at 22!). Very clever, Mr. Hutton.
Of course, it will be stepped up to 67 or 68, and in any case, the concept is pretty hypocritical in itself.
At the very least, joined up government (assumption!) ought to be able to maintain the current 5yr gap with exactly the same longevity logic.I'm sure someone will educate me on what BALPA really plan to do about this, other than suggest I save more than £1.4m...
