Posted on 06/20/2004 2:51:20 PM PDT by qam1
THE Government is set to raise or abolish the retirement age of 65. People who choose to carry on working until they are 70 will be given full employment rights as Britain falls into line with a European Union directive.
The decision, in a leaked Cabinet paper reported in Sunday newspapers, could be announced within weeks.
The change will take effect in 2006. Some say it is a back-door way to force people to work longer and save the Government money in the face of a pensions crisis.
Business leaders are against scrapping the 65 retirement age.
CBI director Susan Anderson said: 'We don't see any need for change, although we do recognise that in the future we will need more people to work longer.'
Trade union leaders have warned that raising it to 70 could mean that more than 20% of people - and almost one third of men - will die before they receive their occupational pensions.
Research has shown that one in six people in England and Wales died before they reached 65 and a further 7% died before the age of 70.
Londoners, followed by those in the North West and the North would be the biggest losers.
Economists claim that ageing populations will bankrupt Western countries as a wave of post-war baby boomers reach retirement.
TUC general secretary Brendan Barber said: 'Many commentators tell us that we can solve the pensions crisis if we all work longer before we retire. But these figures show that many will have to work until they literally drop if the retirement age is increased to 70.
Same here --- but the government has wasted it, the money is no longer there. The smartest thing is to not count on the government supporting us --- and that's what Social Security really is about -- it's a welfare program that was disguised as a retirement plan.
It would be best to plan to go on working, acquire new skills, keep yourself in good shape. Working helps anyhow --- the healthier older people are still working.
In Germany in the 1880s, the majority of the population didn't live long enough to collect!
Dale, it's guys like you who built this country and keep it running. Honest, hard working folks have always been my role models and heroes. Here's a Fathers Day salute to you!
I agree. Although I'm only 20, I cannot imagine the possiblity of having so much leisure time. I'll be bored to death. I can't ever imagine retiring when I'm 52 even if I am able to do so.
I think it is natural for us to be productive for our whole lives until to the point we are no longer able to do so.
Just how badly do you want a wealthy spouse?
Anna Nicole Smith may still be single...
Ewwwwwwww..
I'm sorry to hear that market forces combined with management violation of the law, forced you into an early retirement. Here's hoping that you find something to do that will make your retirement worthwhile.
That's fine by me,but you ol timers need to get up off your wallet and have some nice landscaping done instead of trying to lowball my prices :)
See,it really costs ya in end.
"Bismarck, who used that year in his (first in Industrial Europe) pension plan for old-age pensioners in the 1880s."
Because in those days, almost NOBODY lived that long.
I like your attitude. Why vegetate?
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