Compulsory retirement and the rise in the State pension age.

anewme

noodler wrote: »

Been stated a few times in the thread but nobody is paying any heed.

But is it true?

AulWan

anewme wrote: »

Is thr compulsory age not 70 now?

Nope. The lady who now childminds only retired last year (2018?)

Dayor Knight

AulWan wrote: »

Nope. The lady who now childminds only retired last year (2018?)

It is now 70. It came in at the start of 2019.

anewme

Dayor Knight wrote: »

It is now 70. It came in at the start of 2019.

I thought that. Smart ass sly move by Govt. In advance of pushing the pensionable age up to 70 in general.

AulWan

Dayor Knight wrote: »

It is now 70. It came in at the start of 2019.

Well I'll be gone long before that!

blackcard

anewme wrote: »

Is thr compulsory age not 70 now?

As far as I know, it is 70 but I think that you have to get approval from your bosses to stay beyond 65. I think your pay also goes to the bottom of the scale if you stay on

AulWan

Its not compulsory in the sense that you do not have to stay at work until 70 which is what I thought you meant. Its optional to stay past 65.

anewme

AulWan wrote: »

Its not compulsory in the sense that you do not have to stay at work until 70 which is what I thought you meant. Its optional to stay past 65.

Sorry, probably was not clear.

In fairness, that option is an extra safety net that most private sector employees do not have. Plus if you've a DB pension, it's a massive plus if you end up signing on the dole as an oap.

I've a friend coming up to 65 in private sector and she was told she cant stay but needs to as her mortgage runs to 70. Shes frantic.

I want to be gone at that stage but you never know.

noodler

anewme wrote: »

But is it true?

Are you mental?

AulWan

anewme wrote: »

Plus if you've a DB pension, it's a massive plus if you end up signing on the dole as an oap..

I just had a quick look on the pension modeller site, and it appears that once you have 40 years service, you do not accrue any extra pension or benefits for staying on longer, iykwim even though you will still be paying deductions.

I can't imagine working until 70 myself, however I remember my grandmother was still working at 72 (in a hotel).

anewme

noodler wrote: »

Are you mental?

I don't work in public service so I dont know what they get. I'm not into begrudging one set of workers just because I'm nor getting it. Its fruitless and they are only paye workers at the end of the day.

Blame the puppet master, not the puppets.

august12

noodler wrote: »

Oh there's an annual increase for PS pensioners.

The pension is linked to the grade. And it goes up by quite a bit more than inflation.

I know quite a few public sector pensioners who hadn't received a pension increase in over 7 years due to public sector pay freeze.

noodler

august12 wrote: »

I know quite a few public sector pensioners who hadn't received a pension increase in over 7 years due to public sector pay freeze.

Lies tbh.

There's been PS pay increases every year since 2015.

By definition, an existing PS pensioner would have gotten an increase in their pension in each of the last five years as their salary is linked to the grade they retired on.

Bear in mind that increase would have been well, well in advance of inflation as measure by the headline CPI.

hapime

How do you think the Government is going to pay for the thousands of refugees that it wants to bring to Ireland?
There is no extra money, so cuts must be made elsewhere, So suck it up people as you continue to vote for the same politicians year in year out, you only have yourself to blame.

noodler

hapime wrote: »

How do you think the Government is going to pay for the thousands of refugees that it wants to bring to Ireland?
There is no extra money, so cuts must be made elsewhere, So suck it up people as you continue to vote for the same politicians year in year out, you only have yourself to blame.

It's amazing, even in Ireland, where the number of refugees in is absolutely tiny by any international comparison (and the relative cost compared to any other pending crisis area like pensions etc) you still have the odd headcase like this who attribute refugees as some sort of reason we have a pensions timebomb.

hapime

noodler wrote: »

It's amazing, even in Ireland, where the number of refugees in is absolutely tiny by any international comparison (and the relative cost compared to any other pending crisis area like pensions etc) you still have the odd headcase like this who attribute refugees as some sort of reason we have a pensions timebomb.

How much does it cost to house 1 single refugee?
Single man no english, straight onto the dole thats 10k a year straight away
Next up rent allowance 700 per month 8,400 per year
we are up to 18,400 per year, now it gets interesting, add on medical expenses per year and the sky is the limit, they are coming from war zone might be a physical injury or PTSD , either way big money to treat.
Of course after a few years he applies to be reunited with his family, sure why not us mugs will be paying, so here comes his mother father and several brothers and sister, all straight onto the dole and rent allowance plus medical expenses.

And that is why the pension age is rising, dont make yourself look foolish and deny it

_Kaiser_

anewme wrote: »

Sorry, probably was not clear.

In fairness, that option is an extra safety net that most private sector employees do not have. Plus if you've a DB pension, it's a massive plus if you end up signing on the dole as an oap.

I've a friend coming up to 65 in private sector and she was told she cant stay but needs to as her mortgage runs to 70. Shes frantic.

I want to be gone at that stage but you never know.

As a private sector worker in my mid-40s with no property or inheritance to fall back on, and renting because I stupidly DIDN'T take the "free money" in the Tiger years but ended up paying for the mistakes of others anyway, there's a very real risk I'll end up with real problems by the time I'm forced to retire.

The current plan is to save enough money to be able to buy somewhere for cash when commuting considerations aren't a concern, but failing that I'll probably look to emigrate.

Whatever happens, no way I'll be living in poverty in a bedsit somewhere or as a burden on my son or something. Besides, I've seen the way many old people who don't have substantial means are treated in this country, or are pushed into old folks homes while the State takes their life savings.

No way will I live like that. Quality, not as quantity is what matters at that point.

AndrewJRenko

noodler wrote: »

Lies tbh.

There's been PS pay increases every year since 2015.

By definition, an existing PS pensioner would have gotten an increase in their pension in each of the last five years as their salary is linked to the grade they retired on.

Bear in mind that increase would have been well, well in advance of inflation as measure by the headline CPI.

There have been no PS pay increases in living memory.


THere has been some restoration of previous pay cuts, though not all cuts have been restored as yet.

hapime wrote: »

How much does it cost to house 1 single refugee?
Single man no english, straight onto the dole thats 10k a year straight away
Next up rent allowance 700 per month 8,400 per year
we are up to 18,400 per year, now it gets interesting, add on medical expenses per year and the sky is the limit, they are coming from war zone might be a physical injury or PTSD , either way big money to treat.
Of course after a few years he applies to be reunited with his family, sure why not us mugs will be paying, so here comes his mother father and several brothers and sister, all straight onto the dole and rent allowance plus medical expenses.

And that is why the pension age is rising, dont make yourself look foolish and deny it

So it's definitely nothing to do with the €8 billion or so that we spend on pensions then?

Phoebas

AndrewJRenko wrote: »

So it's definitely nothing to do with the €8 billion or so that we spend on pensions then?

No - apparently it's all down to refugees.

Even when it was increased life expectancy coupled with a lower birth rate leading to a big change in the ratio of workers to retirees, I kinda knew it was the fault of the bloody refugees.

beggars_bush

Tax the corporations who pay a very low rate

punisher5112

beggars_bush wrote: »

Tax the corporations who pay a very low rate

The very ones they gave generous and deluded tax breaks to ...

Vullcher funds etc set up, buy all our housing stocks, rent out at extortionate prices, pay as little as €250 tax for the whole tax year..... Yes they get to keep the complete price of the rent....

What an absolute dumb arse moron brought that clause in.... The government will absolutely destroy Ireland and honestly they've got a good head start already.

noodler

AndrewJRenko wrote: »

There have been no PS pay increases in living memory.


THere has been some restoration of previous pay cuts, though not all cuts have been restored as yet.

So you concede pensioners have gotten increases in their PS pensions in 2015, 2016,2017, 2018 and 2019 but you don't consider them increases?

You are very muddled.

1. All grades but the highest have restoration on their gross (PRD in some form or another is never going away and rightfully so).

2. PS pensioners, although they get increases when PS workers do, did not get cuts during the crisis when PS workers did. They were subject to a separate cut which has been broadly reversed since AND have benefited from the link to PS workers increases in 2015-2019 outlined above.

Riskymove

noodler wrote: »

They were subject to a separate cut which has been broadly reversed since AND have benefited from the link to PS workers increases in 2015-2019 outlined above.

I don't think its that simple

PS pensions which were cut in the crash have had a period of restoration but I don't believe that they have also had further increases based on restoration of workers pay

there are also many pensions that were not cut as the pension was under the threshold and so have not received any increase since the crash

The average pension was around 20,000 in 2018

anewme

Riskymove wrote: »

I don't think its that simple

PS pensions which were cut in the crash have had a period of restoration but I don't believe that they have also had further increases based on restoration of workers pay

there are also many pensions that were not cut as the pension was under the threshold and so have not received any increase since the crash

The average pension was around 20,000 in 2018

A pension of 20,000 is very good.

elperello

anewme wrote: »

A pension of 20,000 is very good.

Just to point out that it's not in addition to the State Pension.

So after 40 years work it's just the difference between State Pension and 20k.

Not exactly a bonanza for low paid State employees.

anewme

elperello wrote: »

Just to point out that it's not in addition to the State Pension.

So after 40 years work it's just the difference between State Pension and 20k.

Not exactly a bonanza for low paid State employees.

Right, that’s different then, if it was on top of, it would be good.

AndrewJRenko

noodler wrote: »

So you concede pensioners have gotten increases in their PS pensions in 2015, 2016,2017, 2018 and 2019 but you don't consider them increases?

You are very muddled.

There have been no increases in PS pensions or scales for some time, more than 15 years iirc. There has been some restoration of some cuts.

noodler wrote: »

1. All grades but the highest have restoration on their gross (PRD in some form or another is never going away and rightfully so).

Except that they don't have restoration of their pay thanks to the PRD, the additional pension deduction that doesn't go into a pension fund, has no link to your actual pension, and is deducted from low-wage staff who get no benefit for it beyond the standard state pension anyway.

noodler wrote: »

2. PS pensioners, although they get increases when PS workers do, did not get cuts during the crisis when PS workers did. They were subject to a separate cut which has been broadly reversed since AND have benefited from the link to PS workers increases in 2015-2019 outlined above.

I'm 90% sure that this is incorrect. Do you have any source to support your claims that;


- pensions did NOT get cuts
- pensioners got restorations of cuts that they never suffered

AndrewJRenko

Obviously the time of year for thinking about pension matters;

https://www.irishtimes.com/business/personal-finance/six-things-every-woman-needs-to-know-about-the-state-pension-1.2448981

https://www.irishtimes.com/business/personal-finance/facing-reality-on-the-state-pension-1.4121955

JRant

So get the autoenrollment made compulsory then means test the state pension for anyone with a private one. Thereby screwing over private sector workers while keeping the juicy public sector pension gravy train rolling.

Riskymove

JRant wrote: »

So get the autoenrollment made compulsory then means test the state pension for anyone with a private one. .

since 1995 all public servants pay Class A PRSI and will receive the state pension so they would also be screwed over??

so probably an unlikely event