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Work till you're 70 plan leaked
This is London ^ | 6/20/04

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.


TOPICS: Extended News; United Kingdom
KEYWORDS: socialsecurity; uk
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To: Moleman
If I didn't have to pay the damn SS tax, I could afford to retire early.

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.

61 posted on 06/20/2004 8:34:46 PM PDT by FITZ
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To: Ronly Bonly Jones
Where did we get the age 65 from? Bismarck, who used that year in his (first in Industrial Europe) pension plan for old-age pensioners in the 1880s.

In Germany in the 1880s, the majority of the population didn't live long enough to collect!

62 posted on 06/20/2004 8:59:59 PM PDT by Siamese Princess
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To: dalereed

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!


63 posted on 06/20/2004 9:11:04 PM PDT by Denver Ditdat (Ronald Reagan belongs to the ages now, but we preferred it when he belonged to us.)
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To: dalereed
Retirement sucks!

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.

64 posted on 06/20/2004 10:25:26 PM PDT by MinorityRepublican
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To: GreenHornet
I hear that John Kerry's daughter is in line to inherit a fortune. Now there are "soak the rich" tax schemes designed to keep billion dollar estates from being inherited but then those rules never actually seem to apply to the rich.

Just how badly do you want a wealthy spouse?

Anna Nicole Smith may still be single...

65 posted on 06/20/2004 10:46:52 PM PDT by weegee (Government does not solve problems; it subsidizes them. ~~Ronald Reagan)
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To: weegee

Ewwwwwwww..


66 posted on 06/20/2004 11:01:21 PM PDT by TLI
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To: gcruse
The combination of a jobless market and age discrimination forced me into an unplanned early retirement at age 59.

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.

67 posted on 06/21/2004 9:22:58 AM PDT by Ciexyz ("FR, best viewed with a budgie on hand")
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Comment #68 Removed by Moderator

To: tubebender
but I need you Xers to work 70 hours a week

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.

69 posted on 06/21/2004 10:12:52 AM PDT by quack
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To: Ronly Bonly Jones

"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.


70 posted on 06/21/2004 3:41:53 PM PDT by Flash Bazbeaux ("I'll have the moo goo gai pan without the pan, and some pans.")
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To: dalereed

I like your attitude. Why vegetate?


71 posted on 06/21/2004 6:25:51 PM PDT by Lester Moore
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