Pension at 70.

And contributed tax for that 4 years.

I think it’s a progressive idea. Wont suit everyone of course.

Be very job dependent, the average manual worker won't be doing it I imagine although I had a plasterer do a job lately and I'd say he wasn't far off 70! The old manual work is great for keeping you fitter maybe provided it's not too hard, the builder on site was 66 and flying around the place like a young lad, I know cos he told me he would be drawing his pension that summer.

It's a good idea though because many jobs could be continued on and many people want to as well, the key of course is doing away with the mandatory retirement age, that's what kicked a lot of people out who didn't want to go.

should be increased for everyone, most of the money would be spent straight into the economy....

It be good for people who are physically fit and healthy and also for prople who may not have enough prsi contributions for full pension at 66. They are given few more years to catch up also there would be many people with good priivate pension they can live off of until they reach 70.

If someone gets sick at 66 and it looks likely to be long term then they simple will not be able to work full stop.

Literally can’t have a thread on boards without someone using the phrase “free houses”.

Finally though Carers who cannot work may get recognised & it took them long enough.

Listening to the way some people talk about this, you'd worry for them.

Convinced they're going to retire at 55 or 60 and spend 20+ years travelling and living the high life. Then these same people will tell you that they haven't started their pensions yet because of the cost of living, and shur it's too expensive, and who has the money for a pension.

They're 40 or more and convinced that it'll all come together in the 10 years before retirement, they'll save enough to have a champagne lifestyle in spite of the fact that the 20 odd years they've already spent working hasn't left them with much of a 'pot', and more likely to be paying off car loans and holiday loans and bathroom loans.

Many many many people will be working until 70 whether they want to or not.

I came in post April 2004. If I'd have been in 2 months earlier I'd have qualified for that package. Regardless of years served I won't get pension until I'm 65. But I also qualify for the contributory pension too.

AVC's lads. That's the tax efficient way to beat this.

That's very negative although I'd agree to and extent. I'll be paying into my AVC 25 years by the time I hit 60. The amount of people I know who work in the construction sector or gig economy that have no pension provisions made is alarming. They all seem to be flush with cash though which is the surprise. I think we need much better education about pensions in school.

Yeah, I said you'd worry for some, not all! You sound like you've the wheels in motion for a retirement at a decent age. Hopefully I will too. I'm working on it. Putting away money now for 30 years time is really tough sometimes, yet I grind on, like I have for the last 6 or 7 years since starting a private pension.

I'd gladly work until age 75, provided I am still healthy, that somebody is willing to hire me, not blacklist me, and treat me halfway fairly.

Sadly, I doubt that that's going to be the case.

Also, sadly, that a lot probably feel the same way.

Great to see and they should be getting the full contributory pension when they hit 66. Shocking to think of the way they have been treated over the years.

I'd be in total agreement. This is the way to go. If you start work at 16 and pay 1-3% towards a pension, well it's not even going to be missed, let your contributions accumulate and work for you over a lifetime. But even if it's started in earnest today it'll be 40 years before we see any benefit, but it needs to start.

I wouldn’t be surprised if there’s no pension money in the pot when I get to 68.

Thats why they are introducing it 🙂

I dunno.

Think a lot of pension gains in the past 15 years were due to cheap energy and stock market speculation on tech stocks. It was a huge honeymoon phase. Anything could happen to reduce your pension savings drastically.

Green energy, AI, EVs, VR, ...could see this continuing but the world seems in a very unsure, nationalistic, warmongering phase at the moment.

Also, It's obscene that some people can avail of defined benefit pensions when the majority can't. Also, when said pension funds blow up the taxpayer covers the loss. Didn't this happen with AIB pension funds a while back ?

Anyway ...was thinking of taking a break from work and live a little before going back to the grindstone. But the job market is looking very unsure at the moment.

I know that companies that wax lyrical about diversity and inclusion won't even consider people over a certain age.

Anyway, rant over 😝

coming into place in 2024..... they clearly are preparing for continued inflation

The thought of working until I am 70 would put me in an early grave.