Increased life expectancy is the elephant in the room - political leaders needed

Disillusioned democrat

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People living longer is the elephant in the room no political leader seems to be able to see.

Expensive medical advances mean people live longer and require pensions for longer - it's a double whammy impacting the health budget and the social welfare budget.

In Ireland we're massively under-subscribed to private pensions and already have a hugely expensive health system that's creaking at the current age profile but is likely to implode over the next few years.

Add to this the state's new found passion for renting over buying means that 10 - 20 years from now there will be a huge spike in the number of retired people still renting and needing help with rent, yet there'll be fewer home owners so a lot of the funding for the ridiculously named "Fair Deal" scam will also dry up.

This is like watching an imminent car crash in slow motion - you know it's going to be catastrophic, you expect people to be able to react, but know no-one will.

To be honest I don't know what the right answer is, but I know NOW is the time to figure it out, not 5 years too late when the only answer is cost, cost, cost.
 


che schifo

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Revoke the smoking ban, reduce duty on fags and allow tobacco companies to advertise again. The problem should solve itself..
 

hammer

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People living longer is the elephant in the room no political leader seems to be able to see.

Expensive medical advances mean people live longer and require pensions for longer - it's a double whammy impacting the health budget and the social welfare budget.

In Ireland we're massively under-subscribed to private pensions and already have a hugely expensive health system that's creaking at the current age profile but is likely to implode over the next few years.

Add to this the state's new found passion for renting over buying means that 10 - 20 years from now there will be a huge spike in the number of retired people still renting and needing help with rent, yet there'll be fewer home owners so a lot of the funding for the ridiculously named "Fair Deal" scam will also dry up.

This is like watching an imminent car crash in slow motion - you know it's going to be catastrophic, you expect people to be able to react, but know no-one will.

To be honest I don't know what the right answer is, but I know NOW is the time to figure it out, not 5 years too late when the only answer is cost, cost, cost.
Good post.

Many people in Ireland are living in cuckoo land hurting towards retirement.

No provision whatsoever made.
 

hammer

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Even in your early 50s you should be taking financial advise with regard to FAIR DEAL.
 

blinding

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The Government should take us out and show us how to have a no holds barred good time .

This nanny state has led to unforeseen consequences and not enough of us are enjoying ourselves to death quickly enough . Can ya get a grant for that kind of thing .
 

Spirit Of Newgrange

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you want to see our future ? look to Japan today. The cost of accommodation is beyond the reach of just about everybody. People in their 20's or 30's are forced to houseshare with dozens of strangers if they refuse to live with their parents.


just like Prince Charles, by the time you inherit the family empire you are already over the hill yourself. Everybody working themselves to death just to make enough money to survive.

And how to get on the ladder or start a family ? bonkers.
 
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ruserious

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It would be interesting to see if with the increased lifespan, there is an increased quality of life too. As in, is 75 the new 65 for the purposes of memory, how active you are, can you still work etc. The uncomfortable answer if yes, is to increase the pension age further.
 

Kevin Parlon

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People living longer is the elephant in the room no political leader seems to be able to see.
Good OP. There's an equal and opposite compounding problem that makes your elephant in the room look small by comparison. And that is that all of Europe pretty much is stepping off a demographic cliff (we've made our societies rich, but too expensive to have more than a kid or 2) of non-replacement-rate fertility. I posted on this before and have yet to hear a reason as to why it remains such a taboo subject. I mean, we're (demographically speaking) driving into a ditch. The ditch is 20 years or so off, but it's absolutely unambiguous where we're going to end up. And still: Silence. My best guess is that there "Western guilt" has made this policy of self-abrogation seem almost noble.
 

bokuden

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People living longer is the elephant in the room no political leader seems to be able to see.

Expensive medical advances mean people live longer and require pensions for longer - it's a double whammy impacting the health budget and the social welfare budget.

In Ireland we're massively under-subscribed to private pensions and already have a hugely expensive health system that's creaking at the current age profile but is likely to implode over the next few years.

Add to this the state's new found passion for renting over buying means that 10 - 20 years from now there will be a huge spike in the number of retired people still renting and needing help with rent, yet there'll be fewer home owners so a lot of the funding for the ridiculously named "Fair Deal" scam will also dry up.

This is like watching an imminent car crash in slow motion - you know it's going to be catastrophic, you expect people to be able to react, but know no-one will.

To be honest I don't know what the right answer is, but I know NOW is the time to figure it out, not 5 years too late when the only answer is cost, cost, cost.
The current government pension ripoff of women who stayed home in the 70s is the beginning. Two mwasures that would help a lot would be get rid of state pensions, fis, the dole etc and introduce a ubi instead. Then people of all ages could continue working and paying tax. Also, large scale public mixed housing is needed.
 

hammer

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Or make better provision for yourself at an earlier stage.

Big tax breaks available presently.

Wont always be the case as SF IRA will limit it to standard rate tax band.
 

ShoutingIsLeadership

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Immigration. Lots of immigration. And a national riding campaign. Enough of Greenways, we need Pinkways.
 

bokuden

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It would be interesting to see if with the increased lifespan, there is an increased quality of life too. As in, is 75 the new 65 for the purposes of memory, how active you are, can you still work etc. The uncomfortable answer if yes, is to increase the pension age further.
There certainly wont be going forward. Our sedentary, junk food office drones will be in rag order by their fifties.
 

*EPIC SUCCESS*

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People living longer is the elephant in the room no political leader seems to be able to see.

Expensive medical advances mean people live longer and require pensions for longer - it's a double whammy impacting the health budget and the social welfare budget.

In Ireland we're massively under-subscribed to private pensions and already have a hugely expensive health system that's creaking at the current age profile but is likely to implode over the next few years.

Add to this the state's new found passion for renting over buying means that 10 - 20 years from now there will be a huge spike in the number of retired people still renting and needing help with rent, yet there'll be fewer home owners so a lot of the funding for the ridiculously named "Fair Deal" scam will also dry up.

This is like watching an imminent car crash in slow motion - you know it's going to be catastrophic, you expect people to be able to react, but know no-one will.

To be honest I don't know what the right answer is, but I know NOW is the time to figure it out, not 5 years too late when the only answer is cost, cost, cost.
By the time the impact occurs, most, if not all of the current politicians will be well retired and living off cushy state pensions so they don't give a damn.

That is the realpolitik of this problem.
 

bokuden

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Or make better provision for yourself at an earlier stage.

Big tax breaks available presently.

Wont always be the case as SF IRA will limit it to standard rate tax band.
Looking after the rich again i see.
 

Deadlock

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People living longer is the elephant in the room no political leader seems to be able to see.

Expensive medical advances mean people live longer and require pensions for longer - it's a double whammy impacting the health budget and the social welfare budget.

In Ireland we're massively under-subscribed to private pensions and already have a hugely expensive health system that's creaking at the current age profile but is likely to implode over the next few years.

Add to this the state's new found passion for renting over buying means that 10 - 20 years from now there will be a huge spike in the number of retired people still renting and needing help with rent, yet there'll be fewer home owners so a lot of the funding for the ridiculously named "Fair Deal" scam will also dry up.

This is like watching an imminent car crash in slow motion - you know it's going to be catastrophic, you expect people to be able to react, but know no-one will.

To be honest I don't know what the right answer is, but I know NOW is the time to figure it out, not 5 years too late when the only answer is cost, cost, cost.
I'm very much hoping this thread isn't leading into Logan's Run territory !!

[video=youtube;EoKz-ilaZiA]https://www.youtube.com/watch?v=EoKz-ilaZiA[/video]
 

hammer

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By the time the impact occurs, most, if not all of the current politicians will be well retired and living off cushy state pensions so they don't give a damn.

That is the realpolitik of this problem.
Agreed. Maximum PS pension should be €40,000

If you cant live off that at 65........tough sh** Sherlock.
 

Kevin Parlon

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you want to see our future ? look to Japan today. The cost of accommodation is beyond the reach of just about everybody. People in their 20's or 30's are forced to houseshare with dozens of strangers if they refuse to live with their parents. And how to get on the ladder or start a family ? bonkers.
Those problems are trivial compared to the population crash that *will* happen there in many of our lifetimes.

 


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