Forum Topic

Pensions

Should they be put back 60 was the original age. Then 5yrs ago it went up to 60 and nine months. Then it went up and up every year. I never took mine for two years. But really a lot of women are owed a lot of money.

Barbara Stevens ● 2596d15 Comments

Hi Barbara, I guess with people living longer and the national debt at 1.8 trillion the government are juggling their budget accordingly to save money. Whether this is fair on pensioners or not is a different matter.I can only see the age limit rising more and more in the future as life expectancy rises and the national budget squeeze continues.

Paul Game ● 2596d

a Sovereign Wealth Fund would help tremendously with an ageing population, the gov. is planning to sell its remaining 60% of RBS by 2024 shares, instead it should transfer part of this holding into a SWF, that would be a good start.https://www.ipe.com/joseph-mariathasan-the-uk-should-set-up-a-sovereign-wealth-fund/48153.fullarticle

Adam Tripp ● 2596d

I agree a Sovereign Wealth Fund would be a good idea.  We should have done that with North Sea oil, as Norway did. I know the population is aging - you only have to glance at the Times obituary page to see this - but over the past two,three years I have lost several friends in their late 60s/mid 70s, and most of my friends have the same experience.A Sovereign Wealth Fund might also address the problem of "care for the elderly". Not much joy in living into your 90s if you're totally out of it like my mother.

Elizabeth Balsom ● 2596d

It seems a shame if somebody isn't well and was looking forward to retiring in a couple of years then all of a sudden they have to wait longer.

Barbara Stevens ● 2596d

I agree Barbara.I thought the court case would go the other way, in favour of the women.

Paul Game ● 2596d

I was hoping for equality and thereby reducing mens age to 60 !

Andy Pike ● 2596d

It's a shame it's gone this way, but I understand the reasons, of the expense and people living longer.  However, we all know that the National Insurance we paid for so many years does not necessarily go into the NHS or Pensions, which I feel is very unfair.  Perhaps the Govt should start taking compulsory pensions contributions from everyone, for that purpose only … and I include people on benefits.The bottom line is any Govt will tax us as far as they dare and don't think about the population as individuals, but as demographics.

Bunny Payne ● 2596d

May not be much but I'm still taxed.

Barbara Stevens ● 2596d

Britain, like many typical western economies, has a 'negative sovereign wealth fund', commonly known as the National Debt. It is rapidly approaching £2 trillion. The Norwegians are a small population country with huge natural resources, as are the Qataris. They have a modest National Debt, but they have assets, such as the SWF which exceed their debts.

Sean Hodges ● 2596d

Around 1976-77 I worked on a project for BNOC, the UK's state owned British National Oil Corporation, producing software for the Thistle oil platform which was operated by BNOC . My understanding is that when oil came on stream money would be used for the benefit of the whole UK - not sure the term "sovereign fund" was used then? (I'd note I worked for a software house contracted to BNOC.) However,  if I remember correctly, post 1970, BNOC was nationalised by the Thatcher government by the time the oil came on stream. Another example of Tories looking after their rich investor friends? Perhaps some of that oil money could have been invested for future pensions rather than paid out in dividends to private shareholders?

Michael Ixer ● 2596d

"Perhaps some of that oil money could have been invested for future pensions rather than paid out in dividends to private shareholders?"Private shareholders need incentives, otherwise they collapse into existential ennui, whereas pensioners should just be grateful for surviving so long.

David Ainsworth ● 2596d

Mmm, as BNOC were already working with some oil companies who were getting returns from their investment in the original exploration I'm not sure the sell off of BNOC wasn't just part of the dogma to privatise ... I wouldn't disagree that shareholders should be paid dividends, I'm just not sure BNOC should have been privatised.

Michael Ixer ● 2596d

IF.........my auntie had balls she'd be my uncle. We cant change decisions made 40_50 years ago (apart maybe from leaving EU)  so what's the point of going on about them

Andy Pike ● 2595d

Just shot yourself in the foot with that comparison Andy

Lucille Grant ● 2595d

Tell me more

Andy Pike ● 2595d