news.sky.com/story/chancellors-britain-needs-you-plea-to-the-retired-is-a-tall-order-for-them-and-business-12796713
This but caught my eye, 'To those who retired early after the pandemic, or haven't found the right role after furlough, I say - Britain needs you."
I think it might need a bit more than a plea, if anyone here retired early and are under state pension age is there anything that tempt you back to work?
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>>I think it might need a bit more than a plea, if anyone here retired early and are under state pension age is there anything that tempt you back to work?
Lol no.
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>> I think it might need a bit more than a plea, if anyone here retired
>> early and are under state pension age is there anything that tempt you back to
>> work?
Not quite that scenario but...
I left the Civil Service on redundancy but with a pension close to two thirds of my final salary on 30 November 2013 at age 54. It was though never intended to be a final farewell to work. Original intention was to do a bit of loafing then seek out a term time only clerical role in a school and make most of holidays.
Ended up volunteering for CAB and then getting into paid work. Still at it seven and a half years later. Hope to keep it up for three more years until the State Pension kicks in.
I wouldn't do it though if I didn't enjoy it. I bailed from one role earlier this year as I couldn't deal with being micro-managed over how long my calls were or a Steward's inquiry over why I was logged out of the call handling system for n minutes the previous day.
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Yes, retired at 55, still six and a half years till state pension to go.
Not in a million years would I go back to work. I was talking online to some chaps about a hobby thing, and they suggested a zoom meeting with an agenda.
I don't do anything with the words agenda or meeting associated with it. Not happening.
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I thought as much, reflects the ones I know that retired in their mid 50s. None seemed remotely interested in work again, not a career type job anyway.
A few did pin money jobs, say working 15 odd hours a week but I don't think they needed it.
I read somewhere a million people aged 55-65 had left the workforce in the last 18 months or so, I think that the group the Chancellor mentioned, I don't think very many will be back.
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Retired at 55, 13 years ago this month. Never had time for work since
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Looking at all our retirement ages, and (what I know about my old employer now), Its an age-ist environment who dont want us
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I’ve always worked in the fashion industry which pretty much by default has long been a young person’s game. There are of course some outliers like me who have managed to survive the many nights of long knives that have come and gone in the business, but on average I’m probably twice the age of most people involved in the industry.
I have a particular set of skills (no not those!) that allow me to function in this field of endeavour but increasingly I feel more of a dinosaur in truth.
Mainly it’s due to my limited IT skills and abject disinterest in the ever changing trends in social media platforms.
I know some here were among the pioneers of IT driven business tools but I didn’t even use a computer until I was forced to in my mid ‘30s. Absurd as it must sound now, that was regarded by most managers as something that nerds in tank tops did in basements of companies, producing reams of paper that often seemed to contain vast quantities of information of limited use.
Now, of course, it is a methodology that is intrinsic to all business operations. I do use it and find some of it vital of course. But, I don’t enjoy screen peering days at all.
Were I to apply for a new job in my industry, I don’t think I’d be seen as acceptable given my analogue mindset and grey hair!
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>>
>> Were I to apply for a new job in my industry, I don’t think I’d
>> be seen as acceptable given my analogue mindset and grey hair!
>>
....more likely that your taste in jeans and boots would scupper it....
;-)
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Aye, that too! ;-)
My wife forced me to buy a Puffa jacket on Saturday. She says it makes me look younger. I’m not so sure in truth. I feel a bit like an elderly Michelin man in it.
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>> My wife forced me to buy a Puffa jacket on Saturday. She says it makes
>> me look younger. I’m not so sure in truth. I feel a bit like an
>> elderly Michelin man in it.
I think she is trying to protect you from your next massive bike spill
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Oooh, harsh, very harsh! ;-)
I’m doing everything in my power to avoid any unplanned dismounts these days!
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>She says it makes me look younger.
One of those where the collar zips up over your head? I've got one like that.
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>>
>> My wife forced me to buy a Puffa jacket on Saturday. She says it makes
>> me look younger. I’m not so sure in truth. I feel a bit like an
>> elderly Michelin man in it.
>>
...it's all downhill from here. Nose/earring and tats next, or she trades you in for a newer model.
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>> ...it's all downhill from here. Nose/earring and tats next, or she trades you in for
>> a newer model.
Piercings are off my wish list, but my next tat is actively under consideration. I have two themes and location under consideration.
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>> ...it's all downhill from here. Nose/earring and tats next, or she trades you in for
>> a newer model.
Blimey, is that what you had to do?
;-)
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...no, I put my foot down at the Puffa jacket stage!
(I already looked like an elderly Michelin man ;-) )
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I suppose I could get sleeve tattoo of a game of snakes and ladders. I’d only need to carry a couple of dice and a pair of counters to have a ready made pastime available at a moment’s notice.
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...well, it might be more tasteful than Z's plans (though equally practical)..
"I have two themes and location under consideration."
After the ongoing series of colonoscopies, I think he's going to have "No" and "Entry" tattooed on each respective buttock.
;-)
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That reminds me of the story of the lady who asks a tattooist to draw a bee on each of her buttocks.
She gets home and proudly shows her husband the new tattoos.
Much to her dismay, all he says is “Who the hell is Bob?!”
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>> I suppose I could get sleeve tattoo of a game of snakes and ladders. I’d
>> only need to carry a couple of dice and a pair of counters to have
>> a ready made pastime available at a moment’s notice.
You need THIS WAY UP with an arrow tattoo.
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>Ageism at work.
Ageism in recruitment is only one aspect. Some employers are doing everything that they can to force older (40+) workers out of the company.
www.theregister.com/2022/10/04/ibm_settles_more_discrimination_claims/
They got me off the books by selling the HPC unit to Lenovo and then realised they had no-one who knew the stuff they were trying to promote as one of their hallowed 'Strategic Initiatives'. So they ended up paying my new pimp ~£2000 +exp per day to fly me all over EMEA to perform my 'services'.
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>> www.theregister.com/2022/10/04/ibm_settles_more_discrimination_claims/
Read the linked article and then down the rabbit hole of the 'who me' feature about office pranking....
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>> I read somewhere a million people aged 55-65 had left the workforce in the last
>> 18 months or so, I think that the group the Chancellor mentioned, I don't think
>> very many will be back.
I'm sure some have opted out of work. Whether they'll be 'starved back' by inflation meaning they cannot pay their bills depends on circumstance.
Others will have chronic issues, including mental health, that are not being addressed and struggle on benefits.
Then there are folks on endless waiting lists for surgery with hips, knees or frozen shoulders.
Lady I saw on Thursday aged 62 has a recurring cancer diagnosis. Ultimately incurable but not at the stage where, with a 6 or 12 month life expectancy, she's passported to benefits like PIP or ESA. Could do all sorts of clerical/admin roles but can she get an interview?
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...I might take up the offer of the BBC Chairman's job....
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I'm about to begin a second career as a social influencer and media celebrity. Should be making £millions as soon as I sign up to this Fansonly thing apparently.
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I jacked it in in my early forties after sustaining injuries in a fight. Stayed working outside for myself with a one man car breakdown and transporting firm. Saw a lot of the country 'til the old ticker told me to stop and one of my national customers offered me a post in their control room.
It was civil service so when I became ill again they said I could retire on CS pension. I already had a police one. No brainer ! Friend asked me to be local fleet support engineer for City car Club on an ' as needed ' basis. 4 or 5 years until they sold out and put their own people in.
No interest now. Tried to get a job as a wringer out for a one armed window cleaner but failed the exam.
Ted
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Finally retired in 2019 after the Vietnam trip, I was 60. Covid brought on a roller coaster of being a volunteer/trustee/treasurer at the Foodbank. I was fully occupied - since Covid it's become busier by dafualting to the branch manager - with a major new project and a branch to manage it is a full working week plus. I need a break or a 40k salary.
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I need
>> a break or a 40k salary.
>>
Do you regret taking it on?
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>> Covid it's become busier by dafualting to the branch manager - with a major new
>> project and a branch to manage it is a full working week plus. I need
>> a break or a 40k salary.
Are you still doing anything with Citizens Advice?
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Are you still doing anything with Citizens Advice?
I was, as part of my escape strategy I volunteered at Denbighshire CAB but it was too much to be honest. I don't regret it. Just need a break !
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Took redundancy offer at 55 and spent 2 days a week at local council for pin money. Then went and volunteered at a museum with lots of motorbikes and cars (yummee, played with someone elses toys and didn't have to pick up the bills. Scratched an itch). Now bought a bungalow that requires work - slowly getting there!
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I didn't look for another contract after talking myself out of a quite good one when I was 59. I'd only contracted for 4 years but managed to stuff a load into a pension fund so I felt quite well off. At the time I didn't really expect to never do paid work work again.
Now 67 - last autumn I felt I wanted to do a bit more with my time so I' volunteered with the local foodbank doing supermarket pickups. That isn't a great commitment so I also now work in the "goods in" a few times a month as well. That's quite enough for now. They are fine with me needing March and October off too, which helps.
I was thinking of joining U3A as well but I've deferred that for another year or two - there wasn't a great deal that interested me at the moment.
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Voluntary redundancy with reasonable lump sum at 58, 11 years ago. Pensions kicked in at 60-65 years old.
Considered doing some contract work or even getting a more permanent job.
But as ~60% of whatever I might earn would disappear in deductions (tax up to 40%, NI ~10%, pension contributions ~5%, travel to work costs ~5%) it didn't really seem worth it. Just avoided extravagance to balance the books.
No regrets and absolutely no desire to return to the world of work. I used to meet an ex-colleague who took up the same offer for lunch occasionally - we thought we were the luckiest guys in the world.
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I will be 65 this coming summer. I’ve always worked, right from the age of 13 when I got a paper round and also helped out with my dad’s business, and have never not worked since.
However, oddly enough, lockdown taught me that there was a life outside of relentless graft.
Sure of course, I/we wouldn’t have had the opportunities and assets we gained from all those years of nose to grindstone stuff, but, I’m very ready now to do nothing I don’t want to.
I’m never happier now than when I’m somewhere remote on my mountain bike and plan to spend even more time doing that in places that attract me. Fortunately, my wife is equally keen on that activity and we want to “do” the Alps, the Pyrenees, the Highlands of Scotland and maybe even further afield before we lose the levels of fitness required.
The injuries I collected last year, (while mountain biking ironically enough) continue to limit my abilities but with a couple of workarounds and minor modifications to my bikes, I can cope with most things, even if I have to accept that my days of getting deliberately airborne on a bike are probably over.
I can hardly wait to retire, but I just need to wait a few more months until a couple of things come to fruition.
Last edited by: Runfer D'Hills on Sat 28 Jan 23 at 13:03
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>> we want to “do” the Alps, the Pyrenees,
>> the Highlands of Scotland and maybe even further afield before we lose the levels of
>> fitness required.
>>
...something ideally achieved from the comfort, convenience and flexibility of a motorhome/campervan with bikes on/in the back.
Oh, I forgot, it's booking.com for those with no sense of adventure.
;-)
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The house next door is on the market. If it gets the advertised price it would be tempting for me to do the same (though our place is 1/4 smaller so would be a wedge less) and downsize to a 3 bed semi or small detached and use the equity to retire early.
A school mate retired at 40!
He owned a cycle shop and had quite a range from kiddies bikes to hand built stuff. He worked at the place when he was at school. Apprenticed there then bought the place and expanded it.
Around 2005, when the cheap imports from the Far East killed any profit margins and before the advent of high margin niche models and electric bikes he decided to give it up and sold one of the properties and converted the other in to several flats which he now rents out and lives the high-life - 8 flats, £1k per month income each. No mortgage and he's the freeholder, so there is some maintenance / insurances, but it's not bad for a lad who left school with metal work and woodwork "o" - levels only.
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>>Oh, I forgot…
Have to say, you’re pushing against a door that isn’t entirely shut T&E. I’m not sure I’m ready for the full on campervan thing or indeed a caravan. But, I could see a day van type thing in our lives maybe. You know the Vito, Transit, Transporter sort of thing.
I guess if we sold the Merc, (it’s getting perilously close to 200,000 miles now) kept the wee Jeep as a round the doors car (younger than the Merc and only 20,000 miles) and bought a day van type of thing that we could sleep in if required but would double as a second car…
Hmmm…
Combine a bit of booking.com with some air b&b and a bit of bunking up in a day van with bikes attached…
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...a bit of leg-pulling and proselytising apart, I reckon a campervan/cycling round of Europe would probably suit your tastes.
Don't compare the pastime as it is in the UK with how it works on the Continent, where everything is rather more easy and relaxed.
Whilst we don't tour to cycle, cycling is and has been a key part of our travelling, and we've found excellent routes in just about every part of Europe.
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Way to go Runfer....
I was advised to sell my retail business whilst in hospital 15 years ago...absolutely loved my work, but my body objected to the hours. Doc told me I may not be so lucky next time, so it had to go. Recovered my health and went back to work part time, this time in the outdoor gear trade. Which became full time. So I gave that up and after a long overseas trip was offered a job whilst in the pub the day after I returned.
Same scenario. Part time became full time.
So I gave that up and somehow fill my days without being an employee.. I enjoy DIY so get involved helping friends....decorating, building jobs, conversions. And walking. Lots of walking and backpacking, although past few years that’s been on the back burner for one reason.
Road trip to Spain in May...French and Spanish Pyrenees plus the Picos and Marina Alta. Return in early September...a week in Vielha ( Spanish Pyrenees) doing some serious walking with friends already arranged.
I’ll keep up that routine as long as possible. Or until I wear out the new hip.
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I took voluntary redundancy at 55, wife was still working full time. Got a little delivery job with the local council, two days a week for the next five years until my pension kicked in. Tried other zero hours jobs, but they didn't suit. Volunteered at local museum, keeping motorbikes, cars and buses running, one or two days a week and open days at weekends. That finished last year. Now (slowly) decorating new bungalow!
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Stuff the decorating. I used to be good at it but now I make deliberate mistakes so I don't get asked (told ?) to do it any more. I don't mind a bit of painting outside in better weather but she won't let me go up the ladders any more. The front of the workshop/garage needs doing this year, about 36ft X 7ft. Radio on and off we go !
I have the old car and bike to fettle and sell plus the touring caravan likewise, although I've made a start on some jobs inside as I can put the heater on. I may catalogue my 120+ railway history books as no-one here will want them when I croak. I might sell the RAV4 too as I won't need it if the caravan goes.
I need a few days of a bit warmer weather and I'll prune and tidy the garden ready for Spring. All perennials now apart from a few patio tubs.
Ted
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>> I took voluntary redundancy at 55...
I'd take it tomorrow if they offered it but they have a policy of being tight a***s and a policy of no redundancies in our division.
They are just making it hell for staff and people are leaving without packages and I know a couple who have just packed it in with no notice.
Banks can be funny like that. My last employer totally denied that I had ever worked for them in writing despite being with them for 10 years. That's despite my new employer asking several times, quoting my payroll number, the office that I worked in etc. My new boss thought it deliberate because several staff had been poached.
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I retired nearly 10 years ago at age 58 with reduced final salary pension as I was taking it two years early. I had been planning retirement for some time and was in the lucky position of being able to cut my outgoings for a couple of years prior to that so that I was able to prove to myself that I could live on my pension and savings.
Since retiring I have done some unpaid tractor driving and mowing at the cricket club, casual dog walking, learned bridge and rediscovered the joys of reading. If this us the scrap heap it’s not bad. But it doesn’t do much for the economy aside from my paying tax.
The idea of going back to proper work however never appealed. I certainly don’t miss the 50 plus hour weeks and regularly being up in London for 8.00 am meetings meaning leaving home at 6.00. And that’s where Hunt and co miss the point. Whether you are doing manual labour or white collar work it’s increasingly hard to meet the demands of work.
I’m one of the lucky ones having been able to afford to get out. The idea of my kids having to work flat out and full time until they are about 70 is not a happy prospect.
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The fact remains of course that it difficult to see how an ever dwindling working population is going to be able to support an ever growing ageing population’s pensions whilst themselves being expected to work for an ever longer time to pay for their own old age.
If you want to look into the future study Japan’s economy.
Last edited by: CGNorwich on Sun 29 Jan 23 at 09:41
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>> The fact remains of course that it difficult to see how an ever dwindling working
>> population is going to be able to support an ever growing ageing population’s pensions whilst
>> themselves being expected to work for an ever longer time to pay for their own
>> old age.
>>
>> If you want to look into the future study Japan’s economy.
But we must, in the very near future, grasp this nettle - or face the consequences. The continuing growth of the world's population is unsustainable.
The days when it was 'lovely', 'sweet' to have four or more children
are over and should be recognised as such.
It won't affect me, I will have long gone by then, but the adults of tomorrow must face up to this threat coming down the hill toward them.
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I wonder who many couldn't go back to work if they wanted to. Perhaps they've had health issues, one couple i know have spent most of their retirement looking after grandchildren. The mum loves it, the dad not so much.
I bet there's quite a few that do lots of childcare for their families. Some working that i know with small children get lots of help with their kids; weekends, a week or so in the summer holidays and plenty more. This must take up quite a bit of time. Of course that's not the case for all.
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Many of the personal stories in this thread are from those who started work in the era of final salary pensions working in a professional or public sector environment.
We are the lucky ones - a full pension may be and inflation proofed 50%+ of final salary + state pension. By 60+ mortgage payments may be history and children now longer a drain on finances.
Not all have been so fortunate - low paid jobs, lack of savings, means many need to carry on working past normal retirement age.
Final salary pensions started being closed to new members 20-30 years ago. Few below the age of ~40 will have one.
Looking forward it will increasingly be the case that early retirement will rely upon the capacity to save during a working life and/or inherit wealth.
Mostly folk will need to work until retirement age (at least). There should be a more flexible run up to retirement - possibly part time working and different types of jobs.
Working for 40 years (20-60), then living a further 30 years (60-90) is simply unaffordable. Reality will hit home in coming generations!
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>> But we must, in the very near future, grasp this nettle - or face the
>> consequences. The continuing growth of the world's population is unsustainable.
>>
True but the problem is that an ageing population caused by a rapidly declining birth rate poses a major threat to modern economies.
The only way out for countries like the UK to avoid economic decline is
1 The working population accepts s that they have to work longer to supoort the aged and accept a shorter retirement
2 We accept greater immigration of young workers from areas that have a surplus
Both are politically difficult
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>> The days when it was 'lovely', 'sweet' to have four or more children
>> are over and should be recognised as such.
Its not been thought sweet for a long time, and the average family size is shrinking. The problem is NOT more children, but too many old people. In short its all your fault, (and in two years time, my fault)
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Slightly off tangent, but a lot of ‘old’ people must have good private pensions, and that added to the State Pension must mean they are paying a good amount of income tax.
If, like me ( my private pension is almost all gone, I only paid in for about 4 years) you are reasonably fit and healthy, you spend your savings whilst you can enjoy them before reaching the stage where you can’t.
That means paying taxes on loads of stuff...for me that’s cars, beer, holidays. So oldies like me are contributing to the Exchequer, although I fully recognise that the older folks require far more meds and hospital time which ain’t cheap.
Just my simplistic take on my personal circumstances
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As the proportion of older retired folk increases it puts added pressure on the young to (a) provide for themselves, and (b) support the retired.
Younger folk often have children and mortgages. They will have less saved wealth and a greater need to buy life's necessities - cars, furniture, clothes etc. They will be aware of the need for pension saving.
If pressure on the young (anyone below ~55 years old) becomes excessive they will rebel. Why should they work hard and pay high taxes simply to keep a lot of old folk retired when they are quite capable of work.
So the point at which state retirement benefits (pension etc) will continue to increase. This is separate from disability benefits paid where people are unable to work (at any age). The days where a career was ended with a gold watch for long service etc are long gone.
We will need to get used to the idea that a working life may involve career changes - physically demanding jobs become more difficult with age, part time working in the final 5-15 years leading to retirement etc will become the norm.
Those who retire early will do so only if they can afford it - possibly through career success, inheritance, downsizing houses.
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>>Those who retire early will do so only if they can afford it - possibly through career success, inheritance, downsizing houses.
I retired early when the company was throwing money around.
Both my son and daughter were at uni so I reluctantly took some cash out of the pot to cover some of the costs of uni life. I wanted both to enjoy their time and not get a poor part time job.
As it happened both got good jobs while at uni and had a super time.
If you can avoid it and afford it I would not plan on doing loads of things in retirement in case sods law happens.
We travelled worldwide extensively when I was at work and had many fabulous happenings in that time.
SWBOS health has meant we have not been on holiday for 20 plus years and no chance now.
We had planned many more trips including the UK. We have managed two one night stays away a few years ago .
Now savings are being spent on two carers coming four times a day and the governments plan to cap my care spendings has been kicked over the horizon.
I do get out one afternoon a week else I have to buy in a sitter.
We have had a great life but do not look after the grand children as I vetoed it as I said it was unsafe. i could not respond quickly enough due to old knees.
Good luck
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Good, if slightly sobering, post, thanks.
" I would not plan on doing loads of things in retirement" - we had no ambitious plans but got on a did some things, just in case.
We've settled into a great routine now, Portugal twice a year for 6 weeks a time and just short breaks here and there in between - most have been UK as SWMBO really hasn't travelled round much, and while I did it was mainly only on business, so it's nice to visit/revisit places with some time on your hands.
We realise that as time passes our health will determine what we do (even last year the 2nd floor Portugal apartment was starting to feel hard work, with the luggage or shopping - and no lift!!) but I'd sooner not be dependent on carers for the last few years of my life, though it's not something you can choose.
Much as I'd have liked grandchildren we've not got any and I don't think that's likely to change. We do have two sets of friends who have become part of the standard weekly child care provision, which we always said we'd avoid if it was ever mooted.
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We do have two sets of friends who have become part of
>> the standard weekly child care provision, which we always said we'd avoid if it was
>> ever mooted.
>>
Do they regret that situation? I know a chap at work and his ILs love having the g/children as much as possible but I know not everyone is in that situation.
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One does, the other seem quite happy with it. I guess it partly depends on how "integrated" you are, and how it impacts whatever else you may intend to be doing with your time.
And how much you like kids :-)
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I had an aunt and uncle who provided childcare the children of 2 of their daughters. It effectively stopped them going anywhere far from home on weekdays for years. But they were more than willing to do it.
I feared for them that they were 'losing' their retirement, but to them perhaps it gave meaning and purpose to their lives.
Happily they lived for many years after those grandchildren had grown up. Uncle died aged 90 last year, Auntie is still clogging at 87. Those grandchildren are long grown up with children of their own.
I'm pretty sure she doesn't want to go back to work.
For myself I'm not sure I could. I quickly became deinstitutionalised and I couldn't hear corporate BS now without laughing.
I suppose I could go and push the trolleys around at Tesco, or probably work on the tills as I prefer the warm and dry, but I might do that for 5 years then die. All it would achieve then would be to lose the last 5 years of my life.
Perhaps the Conservatives think we all want to accumulate money. People who are short will go back to work if they can. Those with enough will mostly want to avoid work they wouldn't enjoy for its own sake.
Most of us get the habit of working to add to the wool on our backs when it is the sensible thing to do. Having some brass put by means helping children and gives us the option of being retired. It can take a while to shake off that mindset but it's important to remember what we saved up for, and that money is for spending some time, and to know when that time has come.
I have been much happier since I realised that money only matters if you run out of it.
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Fancy going back to work - Lygonos
