Autumn Statement

[andrewsmith]

As a Leftie, yeah its good headlines but agree with Owenski the small print (or lack of it) is worrying.

The surplus debate; like hell it'll be a surplus by 2018!! Osbournes changed that 4 times in 3 years. A proof of the lack of sounds financial sense; the Royal Mail sell off is being investigated, seeing shares are almost twice the price that they were sold off that (sold at 330p roughly, closed today at 596p).

The Dole educational thing is not a new thing, that is a Maggie Thatcher policy from the mid 70's which is still in force in different guises. Up here for last 6 years its been training courses for line assembly at Nissan, only about 10% that pass are suitable for employment at Nissan.

The investment one has been buried in Wednesday's news. No Govt. more a case of leaning on the Insurance sector to invest some money in govt schemes.

[Wideboy]

Originally Posted by Red ones

I just found out that as of today I will have to work 3 more years before retirement. But I'm OK with it because that will balance against not having to put a small round bit of paper on my bike (which currently sits in my kitchen to stop it being nicked).

What Gideon takes with one hand he gives with another.

By the time i'm 50 it would have probably gone up again.

Originally Posted by TamSV

Only seen the headlines so far but changes to CGT and retirement age are heading in the right direction IMO.

Pretending to be tough on welfare while ring fencing the biggest spend makes no sense but that's where we're at politically.

Probably doing what they can in the circumstances, which isn't much.

I don't think it is. My trade is incredibly physical, no way I'll be able to lift tree sections around when I'm 68.

[andrewsmith]

Originally Posted by Wideboy

By the time i'm 50 it would have probably gone up again.

It'll be at least 70 by the time anyone mid 20's will retire

Originally Posted by Wideboy

I don't think it is. My trade is incredibly physical, no way I'll be able to lift tree sections around when I'm 68.

That was a point someone made about manual jobs on Sky News this afternoon. At 60 there will be Thousands of people from manual labour jobs will be on the dole as they cannot physically do the job.
I wouldn't want to be lifting pallets of bricks up scaffolds and doubled over laying bricks at 60

[Wideboy]

generally brickies have nice supple young boys hody'ing for them but i get what you mean.

[littleoldman2]

This whole raising the retirement age is nonsense. There are many young people trying very hard to find jobs and MASS unemployment. So why does the government think it's a good thing to have the under 30's on benefits whilst the over 65's work to support them. Utter nonsense.

[TamSV]

Imagine, if you will, the economic situation we've got ourselves into as a huge, steaming pile of ****.

A few years ago we ran out of shovels.

The only way we can get rid of this pile of **** is for everyone to eat a little bit.

No-one wants to eat ****, so the politicians find it difficult to hand out sufficient portions. They can force the people at the bottom of the pile to eat theirs now - they're used to it.

The rest of us will have to eat ours later.

But we'll all have to eat it.

AS someone who it looks like won't be getting a state pension till I'm 70 (right now) and possibly older - I don't mind.

Obviously, I'd rather get a state pension at 50. Who wouldn't want 'free money'. BUT, I completely agree that the state pension shouldn't be people's only retirement provision, and 'the people' shouldn't be required to pay for people to retire at an early age, just because they have worked.

The money can be used in so many better ways, and if you're that bothered about it, put away a little every month into a pension pot - it's tax free so may cost you less than you think!

Originally Posted by EssexDave

AS someone who it looks like won't be getting a state pension till I'm 70 (right now) and possibly older - I don't mind.

Obviously, I'd rather get a state pension at 50. Who wouldn't want 'free money'. BUT, I completely agree that the state pension shouldn't be people's only retirement provision, and 'the people' shouldn't be required to pay for people to retire at an early age, just because they have worked.

The money can be used in so many better ways, and if you're that bothered about it, put away a little every month into a pension pot - it's tax free so may cost you less than you think!

+1
I've 100% agree.

The idea of a pension is brilliant, I'm all for it but money for nothing doesn't exist and whilst the idea was brilliant when we had a life expectancy of 50 years it served well the handful of people who made it that far.
Now we're regularly reaching into our 90's and whilst we're sod all use to society at that age we're happily 30years into a pension fund meaning most people would have taken more out of than put into and even the dumbest kids can understand you cant take out more than is put in.

Those people still in work now NEED (if not already doing so) to be thinking about putting some away, something aside to boost their state pension.

This is not due to a failing of government this is purely due to growth in economy. To break it down salaries used to be much much much less than they are now, items used to retail for much less than they do now so if x% of your salary is not good enough to live off now just think about how hard its going to be in 30-40-50 years time when things have once again doubled in price. In that eventuality a state pension alone is not going to be sufficient enough to support a living, it MAY just about support existing but whats the point in that.

I hate to say it about the physical jobs, but I think that's the point. I once saw a study which showed that those who retire at 60 have a longer life expectancy then those who retire at 65. By raising the retirement age it shortens the period in retirement at both ends.

As for pensions, I wouldn't trust them as far as I can throw them, and I am not known for my shot-putting. After the pension grab in the 2000's loads of people who could started putting their money elsewhere, mostly real-estate which is why its so difficult for first time buyers, now the pension funds are low on capital so they need to encourage people to put into them so that the pension funds can buy corporate debt. I really think managing money for retirement will start becoming a major undertaking for most people, as retirement's get longer, as Owenski pointed out.

[Mark_h]

Originally Posted by Wideboy

generally brickies have nice supple young boys hody'ing for them but i get what you mean.

Maybe you could get a nice supple young boy to help you get wood?