Aug 04 2010
Retirement age abolished!
We live in exciting times as the Government vows to abolish the retirement age of 65, whoopee, we can all work until we drop!
This is a step forward?
Well it may be for the lawyers as employers use increasingly sneaky ways of getting rid of staff they don’t want, including older people. Of course, the lawyers won’t be giving this service away, they’ll be charging for it!
Some people will want to continue working while others will not. I’m in the latter category wishing I was retired now but with a pension worth peanuts I’m having to do a few more years to get it up to scratch and get rid of my mortgage. Then I’ll be off!
Some unlucky souls have debts so large they can’t afford to retire whether they want to or not.
But what of the workers who are not up to scratch at 65-plus? Will they get paid they same rate for doing only a proportion of the work they used to do? Employers will resist that and so will younger employees.
So, what’s the point? Well, about 700,000 people become eligible for retirement every year, if they deferred by just one year that would save £3.5 billion a year. For every extra year deferred that’s an extra £3.5 billion! Bearing in mind we are living longer, pensions are paid by people working and there are fewer of those you can see the thinking behind this.
Of course, it’s being sold as a benefit to the older workers like you and me! Well, given what I know now, I would NEVER have worked. After all, there are more benefits to be had by sitting on your fat backside doing nothing, anyone who works just looks like a complete idiot.
Grumps off to make a brew…
One response so far
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