Cradle To Grave Fails Again

iVillage Member
Registered: 10-01-2004
Cradle To Grave Fails Again
9
Thu, 06-24-2010 - 9:46am
Unions stage protests against plans for retirement age hike





Tens of thousands of marchers gathered Thursday in several French cities after labour unions called for a day of strikes and protests against a government plan to raise the legal retirement age to help curb the country's mounting public deficit.

iVillage Member
Registered: 04-04-2001
Thu, 06-24-2010 - 1:35pm

Pension age: Ministers to speed up rise to 66

Page last updated at 11:33 GMT, Thursday, 24 June 2010 12:33 UK








Nick Clegg: "We are reinvigorating what retirement means"


The government is to speed up plans to raise the state pension age for men to 66, possibly by as early as 2016.


Ministers will also raise the option of extending it further, perhaps to 70 and beyond in the following decades.


The default retirement age of 65 - at which workers can be legally axed by employers - is also set to be axed.


Work and Pensions Secretary Iain Duncan Smith said it was time to "reinvigorate the pensions landscape".


Under the plans women will move to a state pension age of 66 a few years after men.

'Talent and enthusiasm'

The coalition team running pensions policy - Conservative Work and Pensions Secretary Iain Duncan Smith and Liberal Democrat pensions minister Steve Webb - announced the proposals at a briefing in London.


Mr Duncan Smith said: "Britain used to have a pensions system to be proud of, but due to years of neglect and inaction we are left with fewer people saving into a pension every year and the value of the state pension has been eroded, leaving millions in poverty.


"We must live up to our responsibility to reinvigorate the pension landscape.


"People are living longer and healthier lives than ever, and the last thing we want is to lose their talent and enthusiasm from the workplace due to an arbitrary age limit.





Labour's Yvette Cooper said raising the pension age sooner was unfair on people nearing retirement


"We also need to recognise that to meet the challenge of providing an affordable, stable pensions system in a society with ever increasing life expectancy, people will need to work longer."


The previous Labour government's policy was to raise the pension age to 66 in 2024 and then gradually to 68 by 2046.


The coalition argues that this should be speeded up, eventually meaning a pension age of 70 or older.


The government also wants to scrap the default retirement age - which allows employers to shed staff at the age of 65.


Adam Marshall, director of policy at the British Chambers of Commerce, said such a policy would damage "businesses' ability to manage their workforce".

'Days of Dickens'

He urged the coalition instead to raise the default retirement age or "offer employers a new dismissal route that helps business manage their workforce, regardless of age".


For Labour, shadow work and pensions secretary Yvette Cooper accused the government of "moving the goalposts" for people in the fifties, leaving them thousands of pounds worse off.





People in Cardiff give their opinions on the changes to the age of retirement


She added: "This is unfair for a group of people who haven't got time to change their plans."


Bob Crow, general secretary of the Rail Maritime and Transport union, said: "As well as hitting pay, living standards, public services and jobs, the latest assault from the government is work until you drop.


"If you are a rich banker with a private pension you can sail off on your yacht at 55, but for working men and women retirement will be pushed further and further over the horizon in a step back to the days of Dickens. That is not sharing the pain, it is hitting the poorest hardest yet again."

'Unacceptable'

UK life expectancy is currently 77 years for men and 81 for women.


Paul Kenny, general secretary of the GMB union, said: "The government knows that manual workers in the industrial regions of the UK do not enjoy anything like the same life expectancy as professionals or other classes or employees.


"To force someone who has done a lifetime of toil on building sites, farms or in factories to work until they are 66 is completely unacceptable."


In Tuesday's Budget the government announced that, from April 2011, the state pension would go up by the increase in average earnings, or in line with prices, or by 2.5% - whichever is highest.


Previously it would go up every April by 2.5%, or the level of the Retail Prices Index the previous September.


This had been considered as unfair by some, as prices had lagged behind average earnings.

iVillage Member
Registered: 02-14-2010
Thu, 06-24-2010 - 2:45pm

I

iVillage Member
Registered: 01-25-2010
Fri, 06-25-2010 - 4:16pm
There is a great problem raising the retirement ages and it cuts both ways.
1. these are averages not occupation specific. More research needs to be done. to aline the retirement age for those in high fatality occupations with those who live longer.
2. advanced recapitalization of pensions and retirement plans funding.
3. the pension funds to be only that not a "cookie jar" for every time the company or government needs money.
The whining does not help but there are few plans to repair and redesign retirement plans. China is headed down the same road that other countries have gone.
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dRiving for the rights of the individual since 1969
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iVillage Member
Registered: 02-14-2010
Fri, 06-25-2010 - 6:56pm

I don't disagree with anything you mentioned, but feel the need to explain my humor.


The socialist kooks among us claim that all money put into SS most be done so because T-Bills are safe. They also claim said money can not be invested into the stock market because the stock market is risky.


iVillage Member
Registered: 01-25-2010
Fri, 06-25-2010 - 7:08pm

My professor would not agree; the stack market is gambling but (hopefully) the gambler(investor) is at the table.
The government/pension fund/corporation takes the money and has no intention of replacing it with the interest accrued.

Lottery anyone?

dragon red Pictures, Images and Photos


dRiving for the rights of the individual since 1969
xvx Pictures, Images and Photos


iVillage Member
Registered: 02-14-2010
Sat, 06-26-2010 - 3:22am

"My professor would not agree; the stack market is gambling but (hopefully) the gambler(investor) is at the table."


Hmmm, sounds like a liberal arts prof.


If you want to embarass them ask them to differentiate between risk and uncertainty.


iVillage Member
Registered: 01-25-2010
Sat, 06-26-2010 - 6:43am
Gambling is risk plus skill same as the stock market. No difference.
Risk = uncertainity
The house wins
There are no truly "safe" stocks. That is also uncertainity.
Dogs,horses,turtles,cars,
dragon red Pictures, Images and Photos


dRiving for the rights of the individual since 1969
xvx Pictures, Images and Photos


iVillage Member
Registered: 02-14-2010
Sat, 06-26-2010 - 2:36pm

"Gambling is risk plus skill same as the stock market. No difference.
Risk = uncertainity"


Yea, sounds like a liberal arts prof for sure. Well, at least the liberal part.


iVillage Member
Registered: 01-25-2010
Sat, 06-26-2010 - 6:11pm
It reminds me of the days of the disappearing allowance. (note to self father is a better poker player)
dragon red Pictures, Images and Photos


dRiving for the rights of the individual since 1969
xvx Pictures, Images and Photos