Funnily enough someone on LBC suggested the same thing this morning! He got mainly positive feedback from the presenter and many listeners. The only negative was that it could lead to inflation if people went and spent it all at once. Hence my suggestion it could be taken in a variety of ways. The same caller also had a couple of my other suggestions and they went down well too ;-)
I don’t think they would blow it all, I’d use mine for holidays over the next 10 years, by then I’d be 77 and probably hanging up my wings and chilling at home until I get my real wings!
It is the full amount from day one, but if already left before drawing a pension it is 10 years contributions back as Death After Service Benefit which would be about 80% of a year's pay rather than 4 x.
A small % may well do. But there could be some legislation that says it can be taken over a minimum period of time, say 5 years. If one has a good enough personal pension, the ability to have a reduced tax liability for a few years would be attractive. The really important thing is that the government doesn't have a 20-30 year commitment to pay.
www.theguardian.com
more left wing nonsense from the grauniad....Get early retirees off the golf course and back to work – why early retirement isn’t good for UK plc
Giving up work in your 50s is a wealthy indulgence that should be discouraged – the new pension commission needs to widen its remit
Have you tried running your figures through AI? For a bit of fun I put my portfolio through it yesterday and it's amazing how mnay suggestions it came up with.
Left wing?
yep - taking a pop at people who've worked hard in their life and are taking the benefits in their retirement - they should be focussing on all the work shy f**kers who are parked on the social never having earned a penny (or paid tax) in their lives because of (insert nonsense reandom mitigating conditions here) because the welfare state lets them get away with it
This is an opinion piece so it's the view of the writer. Anyway. It does cover the fundamentals of why the state pension is doomed. Although how any political party can take it on is the burning issue in politics. Forget immigration, as a nation we just won't be able to care for the number of oldies we have in the coming years. Plenty of FOCs here to confirm their swelling numbers.
I really dont get this article. If people in their 50s are such a valuable resource to keep in employment, why is there so much ageism that is allowed to persist in the private sector ?Get early retirees off the golf course and back to work – why early retirement isn’t good for UK plc
Giving up work in your 50s is a wealthy indulgence that should be discouraged – the new pension commission needs to widen its remit
It’s a horrible feeling to be overlooked due to one’s age. It happened to me last year. Went to the first interview and nailed it, probably the best interview I ever had. The interviewer even took me on a tour of the offices and introduced me to a couple of people. I was expecting a second interview at least (which I could have messed up in of course) but no, I didn’t have enough experience of managing multiple projects at the same time, despite going through examples of that in the meeting. The thing was, the interview panel were all thirty-somethings and on reflection just didn’t see me in the team due to the 20 year difference I suppose, or they were threatened by my experience and confidence. As a contractor, you get used to things like this but it’s a major issue against older employees getting hired.
Doesn’t look like it.
www.blockpit.io