You never think it is ever going to happen. It’s a hundred years away! You get married, make a home, have kids, live your life and then your approaching 60 and begin to think about retiring. I worked for 10 years and took a break to have children and returned to work in 1987. I was lucky enough to retire from my last job approaching the age of 62, after working 22 years but new legislation has taken away your choice to retire when you want to. The government have plans to raise the state pension retirement age to 66 years (4 years than previously planned!). The proposal is contained in the Pension Bill and the National Pensioners Convention has described the change as an attack on the poorest members of society. They also believe the decision ignores important information that shows that life expectancy is linked to affluence/wealth:
* Figures from the Office for National Statistics show that in 2002-5, people at age 65 in the top social class group (professionals such as doctors, accountants and engineers) could expect to live 4.2 years longer than those in the bottom social class group (unskilled manual labourers).
* Figures from the Office for National Statistics show that in 2002-5, people at age 65 in the top social class group (professionals such as doctors, accountants and engineers) could expect to live 4.2 years longer than those in the bottom social class group (unskilled manual labourers).
OK, maybe you want to work forever. Well you can!
Dr Ros Altmann, Director General of SAGA wrote…..”A recent Saga survey of people over 50 showed that nearly half of those, not yet retired, want to work past the age of 65 and around 7% want to work into their 70s, although not necessarily full-time. Evidence from other countries suggests clearly that ending the default retirement age can increase economic output overall. Age discrimination has no place in a modern economy. The Government should be congratulated for finally introducing this much needed reform. She went on to write…….. Millions of baby boomers will reach the age of 65 in the next few years and if we do not allow them to use their skills and experience in the workplace, we will damage our economic prospects. It is about time we radically rethink retirement. Fifty or sixty years ago working people were only expected to survive for ten years or so after age 65, but nowadays many men and women are fit and active and certainly not ready for the scrap-heap. (Thank God for that!!). Most people are not old at 65 anymore, so why would we want to waste their skills? Some argue that forcing older workers out will create more jobs for the young. Some say that this is a misguided argument. Some retired folk are living on inadequate incomes. For many, private pensions have not worked out as expected, annuity rates have fallen sharply and our state pension is wholly inadequate to provide a decent lifestyle for most people so some have to keep on working”.
I still work on an ad-hoc basis and do so for many reasons. I like to be ‘out there in the big wide world’ and it generates a little extra money to do the things you’ve been yearning to do. (Who am I kidding….it pays the bills!!!). In the last year at work I can remember thinking about retirement and all the things I WAS going to give up. My car, my mobile phone, my computer..….because I was fed up with the increased cost of running these luxuries….I was going back to basics …….BUT I have still got all 3! I could do without my car (I do have a’ Freedom Pass’ now which means I can travel in and around London by rail /underground and travel on buses anywhere in the UK for free), I could do without my mobile BUT I couldn’t do without my computer!!
Since retiring….funnily enough, I have had to think about dying……as I have had to make a Will. I also spend my time on my computer trying to reduce my expenditure to give me more quality of life eg. using comparison sites to get the best deals for Car, Buildings, Contents Insurance, AA cover, service providers etc. it takes hours and hours to do this. Ok….if I do want a break …….I can take a break…. Or a walk in the park ……or go see a friend…….or read a book…..so there are lots of benefits about retirement. I do, however, urge you ‘young people’ to think about your future and try and plan a pension for when you retire for it appears ‘all of a sudden!’
I leave you with this thought……’Time is like a river. You can’t touch the same water twice because the flow that has passed will never pass again’. …..so enjoy every moment of your life.
Anyway….TGIF!!!….”Friday night is the time to let go of all the stress and get out there and have some fun!!” Jackie Britton
21/01/11
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