Grim statistics on retirement age and life expectancy

[Marco]

The way I see it none of us is struggling compared to some bloke living on the street in Calcutta, so we should all thank our lucky stars and make the best of what we have even if it isn't perfect.

Perspective is everything.

Indeed, but there are also plenty of blokes living on the streets here in the UK (the true statistics for which the government hides), and which in an affluent country such as this is inexcusable, never mind Calcutta - and it's arguably worse for them living rough, because of our much colder and wetter climate.

Marco.

[Macca]

They still get free healthcare here though, and there's various support services available. In India there's nothing and you just die in the gutter.

[Marco]

For various reasons I retired at 53, I have no regrets, I'm only half mad, if I continued working I reckon that I would be completely mad. No I'm not being flippant, reckon I would have had a serous mental breakdown if I continued. Work pressure was extremely high.

And that's the crux of the matter, Alex. Too many folks bravely struggle on, to the detriment of their health, and ultimately their lives! Looks like you got out just in time...

As long as you could still feed yourself, pay the bills and keep a roof over your head, and live in relative comfort, then my advice (if you're over 50, and unhappy in a job with more pressure than you can handle), is when it feels right for YOU, retire and enjoy the remainder of your life as stress-free and happy as possible.

That is, of course, as long as your job isn't your LIFE, or you're chained to a B.W.F.H, who insists on being kept in the style she's become accustomed to....

Marco.

[Marco]

They still get free healthcare here though, and there's various support services available. In India there's nothing and you just die in the gutter.

Sure, but that doesn't make the homeless situation here any less tragic, so spare a thought too for our own citizens, who have to sleep rough every night, not just those in foreign lands.

Marco.

[Macca]

Sure, but that doesn't make the homeless situation here any less tragic, so spare a thought too for our own citizens, who have to sleep rough every night, not just those in foreign lands.

Marco.

I don't worry about people I don't know. Have known a few people who were living rough but they were druggies so nothing I could do for them. Let them stop in your house and when you get back from work there's nothing left.

[Marco]

Well, that's probably why I'm a Christian, and you're not

Marco.

[dave2010]

Having checked for my own SP, it looks like the lump sum option is not available for those reaching SP age after 6 April 2016, but deferral is:

https://www.gov.uk/deferring-state-pension/what-you-get

If you reach State Pension age on or after 6 April 2016

Your State Pension will increase every week you defer, as long as you defer for at least 9 weeks.

Your State Pension increases by the equivalent of 1% for every 9 weeks you defer. This works out as just under 5.8% for every full year.

The extra amount is paid with your regular State Pension payment.

Example:
You get £164.35 a week (the full new State Pension). This works out as £8,546.20 a year.

By deferring for one year, you’ll get an extra £493 a year (just under 5.8% of £8,546.20).
This example assumes there is no annual increase in the State Pension. If there is an annual increase, the amount you could get could be larger.

If you reached State Pension age before 6 April 2016

You can usually take your extra State Pension as either:

higher weekly payments

a one-off lump sum 


When you claim your deferred State Pension, you’ll get a letter asking how you want to take your extra pension. You’ll have 3 months from receiving that letter to decide.

Higher weekly payments

Your State Pension will increase every week you defer, as long as you defer for at least 5 weeks.

Your State Pension increases by the equivalent of 1% for every 5 weeks you defer. This works out as 10.4% for every full year.

The extra amount is paid with your regular State Pension payment.

Thanks for checking up on that. The rules have changed now, and the deal on lump sums is clearly not so good. Also the SP retirement age is going up steadily over the years. The 10% (appprox) year on year increase for deferral could be of interest for a fit person who thinks they can make it to 70 or slightly above that (given that the starting point will shift. Actually it's not going up quite as much as I'd thought - it'll be 66 from 2019, and probably 67 around 2026-2028. So anyone who has a retirement age of 66 can get over 40% increase in SP if they defer until they're 70.

Pity about the change in the lump sum arrangements. That suggests that anyone who can should start putting aside their own funds before they retire, as there won't be any miracle payment to help out with eventualities that come along after retirement.

Some people are, unfortunately, in a real mess and making any headway is going to be hard for them both before retiring and afterwards. I know some who are struggling, and some are really difficult to help. I'm not talking about drug addicts, either.

https://www.ageuk.org.uk/information...e-pension-age/

[Sherwood]

They still get free healthcare here though, and there's various support services available. In India there's nothing and you just die in the gutter.

Sorry. That's complete bullshit. I speak as someone who has worked in International Health for over 35 years and in over 30 countries: including India.

No, India does not have universal coverage as we do, but it does have a huge public and private health care system including a large traditional sector. The quality of a lot of care is poor but even the poor are not left to die in the gutter. In fact, the quality of some of India's health system is so good it is now a destination for medical tourism.

[Macca]

Well, that's probably why I'm a Christian, and you're not

Marco.

I'm Catholic, that's pretty much the same basic idea.

[Macca]

Sorry. That's complete bullshit. I speak as someone who has worked in International Health for over 35 years and in over 30 countries: including India.

No, India does not have universal coverage as we do, but it does have a huge public and private health care system including a large traditional sector. The quality of a lot of care is poor but even the poor are not left to die in the gutter. In fact, the quality of some of India's health system is so good it is now a destination for medical tourism.

Well I must be out of date but it certainly used to be like that. And I'm sure if you've got the dosh you can get good medical care pretty much anywhere. But that wasn't the point I was making. The point was however shit we think our lives our here it's nothing in comparison to how a good chunk of the global population have to live.