Retiring at 70 - is that right?

Disillusioned democrat

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razorblade

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People should be allowed to work for as long as they want or are able to do so.
 

gleeful

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By the time today's young people are 70, retirement will be a long gone concept.

The whole idea was built on the maths of an ever increasing population and/or the idea that a large proportion of people wont live to retirement age. With an average lifespan of 80+ retirement at 65 simply can't be afforded.
 

Sister Mercedes

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Senior civil servants don't retire at 65. Early 50's mostly with their 'added years' mullarkey bringing them up to a full pension.

We have to dramatically rethink the attitude to older people working in this country. Ageism is the one 'ism' that's allowed run riot in the workforce.
 

Socratus O' Pericles

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My ould f'la retired sometime in his late 70s, he got a sort of advisory role in the organisation he worked for after official retirement age of 65. He had little time for retirement referring to it as death's waiting room. He is still going strong at 94 so I'm going to try and follow his example.
 

Outlaw101

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So a bunch of public and civil servants - all on track to receive a years salary as a tax free lump sum and 2/3s of their salary in pension once they turn 65 have decided that everyone else must work 'til 70.

Prepare to work until you are 70: rise in age for the State pension on cards - Independent.ie

Does this seem fair to you?

Are there alternatives?

Why is the contributory pension only marginally higher than the non-contributory one?
Haha. You think you'll be working to 70 years of age?

IBEC etc have already rolled out the contracts that everyone signed agreeing to leave their jobs at 65. They made sure to have that done before they got the Government to make the changes.

You'll be begging on the streets like they do in parts of Europe. Kicked out of your job at 65 and no state pension until you are 70. One section of society will have private pensions but the people who were paid less and had to use their wages to just cover the astronomical costs of living will be up sh1t creek.

Nothing you can do. They already got it stitched up.
 

Socratus O' Pericles

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So a bunch of public and civil servants - all on track to receive a years salary as a tax free lump sum and 2/3s of their salary in pension once they turn 65 have decided that everyone else must work 'til 70.

Prepare to work until you are 70: rise in age for the State pension on cards - Independent.ie

Does this seem fair to you?

Are there alternatives?

Why is the contributory pension only marginally higher than the non-contributory one?
I thought public and civil pensions were 1/2 not two thirds?
 

Politics matters

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A lot of companies force their employees to retire at 65, I think that's wrong.

If the individual can still carry out the tasks required of them within their job description, than sacking people because of their age should merit grounds for discrimination.
 

Skin the Goat

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So a bunch of public and civil servants - all on track to receive a years salary as a tax free lump sum and 2/3s of their salary in pension once they turn 65 have decided that everyone else must work 'til 70.
Civil/Public Servants servants get 2/3 of their salary in pensions?

The ESRI is made up of Civil/Public Servants?
 

SeanieFitz

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Most farmers never really retire, it is not uncommon to see farmers in their 80's buying and selling cattle at marts and even when they do hand over the farm to son/daughter they continue to play an active part in the business. It keeps them sharp and active. Retiring young and healthy can be unsettling, unhealthy even.
 

Outlaw101

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A lot of companies force their employees to retire at 65, I think that's wrong.

If the individual can still carry out the tasks required of them within their job description, than sacking people because of their age should merit grounds for discrimination.
What if you signed one of the IBEC etc contracts that have been rolled out across the country where the agreed retirement age is 65. They embarked on a campaign to roll out the contracts in anticipation of the policy change being accepted, they lobbied heavily for it. Most of the people who will be affected by the State pension never imagined there would be an actual consequence to agreeing to a retirement at the age of 65 in a contract.

When you are in your 20's and 30's you don't think you are going to get old and think that you will be well glad to be out of work by 65. Wonder how many of them are using their private pension contribution money to cover basics like rent and childcare.

In America they use old people to pack bags in the supermarket. Maybe we could consider this as an option. Although shopping will be mainly online by that stage.
 

Golden Phoenix

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Heard a barber from Cootehill, Co Cavan on the radio yesterday.

Started off at age 17 and 70 years later is still working - probably the only 87 year old barber in the country!
 

ruserious

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I thought public and civil pensions were 1/2 not two thirds?
Correct.
Post 2013 it's half your career average salary rather than the old way of half your final so no room for promotions right before retirement to boost the pot.
 

Lumpy Talbot

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No
Heard a barber from Cootehill, Co Cavan on the radio yesterday.

Started off at age 17 and 70 years later is still working - probably the only 87 year old barber in the country!
Bet it has been a while since anyone asked him for a razor-shave though.
 

Outlaw101

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Heard a barber from Cootehill, Co Cavan on the radio yesterday.

Started off at age 17 and 70 years later is still working - probably the only 87 year old barber in the country!
IBEC sent him on the radio for the "what are you complaining about you lazy bustards" narrative. If IBEC were so comfortable with old people working why did they conspire with the employers of the country to to get everyone to sign new contracts which inserted a retirement age of 65 into them.
 

Sister Mercedes

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Correct.
Post 2013 it's half your career average salary rather than the old way of half your final so no room for promotions right before retirement to boost the pot.
For people who joined post 2013 you mean. People who won't be retiring for another 40 years.
 

forest

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I saw something last night that said that if you invest 5€ a day for 50 years you will be a millionaire

Just saying
 

ruserious

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Am I the only one that would leave as soon as financially possible? You only get one life and spending it commutting to work and being away from family to earn your crust is not an ideal way to spend it.
 


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