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Retirement age of 66
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By *ubal1 OP Man
over a year ago
Newry Down |
Is the Republic's cabinet actually serious about a retirement age of 66, or are they really saying that 70 is eventually going to be the norm, with the enticement of a higher rate of pension 70.
People's healthspan, the number of years they will remain healthy, is still increasing, but pensions for an elderly population are going to cost, a Lot!
The number of elderly people living for decades in retirement is an actuarial, financial, political and demographic nightmare for future governments; the ideal scenario would be for potential pensioners to die, the before their planned date of retirement after a lifetime of financial contributions, in the form of PRSI and taxation, both direct PAYE and indirect: vat, etc .
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The pension age hasn't moved as fast as the rise in life expectancy (as it should really have). This means the wrinklies will cost a lot more in pensions than they used to. Either taxes will need to increase to pay for it, the pension age will need to increase, or the pension amount will need to decrease. All fairly unpalatable politically.
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By (user no longer on site)
over a year ago
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the ideal scenario would be for potential pensioners to die, the before their planned date of retirement after a lifetime of financial contributions, in the form of PRSI and taxation, both direct PAYE and indirect: vat, etc
Oh yes of course - once all our economic value is leeched out of us we should all just die.
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By (user no longer on site)
over a year ago
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The Whole lot is a complete joke , politicians can have MAYBE 3 pensions , TD, Minister & European..and they certainly ain't €200 a week and they don't give a f**k about the ordinary people of this country, you work all your life , you retire then you die , l absolutely can't stand this Government , work now till you're 70 for €60 extra..that's if you live of course...f**k them . |
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By (user no longer on site)
over a year ago
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"Is the Republic's cabinet actually serious about a retirement age of 66, or are they really saying that 70 is eventually going to be the norm, with the enticement of a higher rate of pension 70.
People's healthspan, the number of years they will remain healthy, is still increasing, but pensions for an elderly population are going to cost, a Lot!
The number of elderly people living for decades in retirement is an actuarial, financial, political and demographic nightmare for future governments; the ideal scenario would be for potential pensioners to die, the before their planned date of retirement after a lifetime of financial contributions, in the form of PRSI and taxation, both direct PAYE and indirect: vat, etc .
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Yes agreed but some are being made too retire when they don’t feel that they are ready too pack up and get the bus pass,you for one going by your previous post,and I have too say I’m kinda addicted too a lot of them and love too read would be a great asset too any company or gov position and so would a lot of the ladies on here that would have the same input if not better than the people that make the money from this republic sorry about the miss spelling or the lack of punctuation marks hopefully ye know what I’m getting at
S |
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By (user no longer on site)
over a year ago
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"Retire at 66 collect your pension
Retire at 70 and earn 15 euro a week more
It takes 16 years to catch up the 52000 euro you're down by waiting the 4 years
So if you live to 87 you'll be fine "
Tick tock clock is against ya b man haha night |
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By *ohnFKMan
over a year ago
Where the Streets Have No Name |
"Is the Republic's cabinet actually serious about a retirement age of 66, or are they really saying that 70 is eventually going to be the norm, with the enticement of a higher rate of pension 70.
People's healthspan, the number of years they will remain healthy, is still increasing, but pensions for an elderly population are going to cost, a Lot!
The number of elderly people living for decades in retirement is an actuarial, financial, political and demographic nightmare for future governments; the ideal scenario would be for potential pensioners to die, the before their planned date of retirement after a lifetime of financial contributions, in the form of PRSI and taxation, both direct PAYE and indirect: vat, etc .
Yes agreed but some are being made too retire when they don’t feel that they are ready too pack up and get the bus pass,you for one going by your previous post,and I have too say I’m kinda addicted too a lot of them and love too read would be a great asset too any company or gov position and so would a lot of the ladies on here that would have the same input if not better than the people that make the money from this republic sorry about the miss spelling or the lack of punctuation marks hopefully ye know what I’m getting at
S"
Nope, not a clue?  |
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The retirement age is 66, or you can opt to stay working till 70. Most people have no choice but to depend on the state pension when they retire. I bought my first house when I was 24. Due to the precarious nature of my type of work I took the advice of a friend in finance and chose to pay into a private pension while at the same time pay off my mortgage, so basically my pension and mortgage payments were the same. And while it was difficult at the start, and 20 years seemed a long way off, time did pass quickly so now I am mortgage clear and have a decent fund to look forward. Not an ideal scenario for everyone but I was lucky.
I’ve never considered what I did for a living to be ‘work’ so maybe that makes a difference . |
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By *etergemmaCouple
over a year ago
South Dublin Area |
Its should be linked to the amount of years you contributed to the tax system. So for example. If started working at 16 even a part time job its counts as credit towards getting the pension. Which enables you to get it at 66. This should also only apply to people born after 1970 or something.
The average life expectancy as increased by over 10 years since 1970 so its simply not sustainable.
However, the way the td's take the absolute piss with their pension. Its simply not fair on the average worker to have to do this.
The social welfare needs to be torn up completely |
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By *etergemmaCouple
over a year ago
South Dublin Area |
"The Whole lot is a complete joke , politicians can have MAYBE 3 pensions , TD, Minister & European..and they certainly ain't €200 a week and they don't give a f**k about the ordinary people of this country, you work all your life , you retire then you die , l absolutely can't stand this Government , work now till you're 70 for €60 extra..that's if you live of course...f**k them ."
And this is the fooking problem. Absolute cheek of those fuckers |
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Increases in retirement age should apply right across the board if its to happen.
If a guy who spends 5 days a week working out doors doing physical labour in the elements has to work till 70 in order to collect his pension so should every politician and civil servant.  |
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..because obviously EVERYONE would love to give pensioners more money and let them retire nice and early, but these things are incredibly expensive, and the money needs to come from somewhere.
The politicians aren't suggesting what they are suggesting because they are cunts. They are trying not to promise something that we can't afford as a country. Quite the contrary they would LOVE to give out generous election winning pension increases...but they have to be fiscally affordable, and they are (apart from sinn fein) trying to be responsible with the economy. |
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They are giving people a choice. Retire at 66 or work on,there is a small incentive to work on by getting more weekly for each year you delay retirement and it will also lessen the public finances having to fund everyone at age 66 whilst also benefiting by those same people paying tax for the years they work on.
At some point the government are going to need to make it mandatory for people to pay into a pension. It can't continue with the current forecasted population ageing.
For the record pensions are an extremely tax efficient way to save into,but not everyone can afford to do so,which is why it should in my opinion become mandatory for those in PAYE jobs to pay into one. For those self employed,every accountant in Ireland should be explaining the tax benefits of one and alot more would end up paying into it. As for me,I'm hoping to retire at 66,whether I'll be able to afford it or not I don't know but by then maybe I'll feel differently. You |
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I'm lucky really in that I will qualify for Irish and UK pensions. I have no intention working past 66. I started as a 15 year old apprentice, so will have done 51 years of paying paye and prsi by the time I retire. I have always paid my dues and don't feel one bit guilty about taking the pensions. |
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By (user no longer on site)
over a year ago
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It's business not personal ....pensions.and supporting people.at that stage of life costs money...governments don't care what you have contributed to their coffers or to society etc everyone is a number on a spread sheet ...pay into a pension for your future but starve trying to put fuel in your car and heat.your house saveing the planet ....and go to work to pay the pensions of the people who are telling us we must do more for the greater good. White collar gangsters
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"It's business not personal ....pensions.and supporting people.at that stage of life costs money...governments don't care what you have contributed to their coffers or to society etc everyone is a number on a spread sheet ...pay into a pension for your future but starve trying to put fuel in your car and heat.your house saveing the planet ....and go to work to pay the pensions of the people who are telling us we must do more for the greater good. White collar gangsters
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Very true |
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I guess it depends on the job they doing, speaking personally the job my dad does is very hard going , physically and mentally. He's 68 still doing a job I challenge most men would find hard work. He could easily finish work tomorrow (personally I'd love him too)
He claims retirement for him he's scared of he knows no different and while he can he's gonna carry on. I admire him.... |
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By *oghunter33Woman
over a year ago
on the hill NordWest of |
"Is everyone else here saying the age or amount should be increased happy to pay the massively increased tax that would be needed to pay for it?"
Maybe we should start with the politicians and introduce one state pension only...
Anyhow there's a tsunami coming down the road nobody has mentioned yet: the generations 'rent' that we're creating at present. They'll be homeless when it comes to retirement.
Now how did we get to this point? Let's see what we have in the cocktail: A damaged financial system, neoliberal investment policies, housing crisis...
it's decades of corrupt, ruthless and failed FF/FG politics. Is that what you call 'responsible with the economy'? |
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By *im44Man
over a year ago
traveling with work, but mainly Ovens Cork |
The reality is, they cannot afford to pay the pensions, and if you were 66 today, in 4 yrs time that extra €60 will be worth nothing the way inflation is going and shall continue... on top of that if you are lucky enough to have a private pension, i wouldnt count on that either, they cannot afford to pay out either, same scenario as 2008 but x 10 |
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By *im44Man
over a year ago
traveling with work, but mainly Ovens Cork |
"I'm lucky really in that I will qualify for Irish and UK pensions. I have no intention working past 66. I started as a 15 year old apprentice, so will have done 51 years of paying paye and prsi by the time I retire. I have always paid my dues and don't feel one bit guilty about taking the pensions."
And you shouldnt, i just hope for your sake and all of ours it will be paid... |
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"I'm lucky really in that I will qualify for Irish and UK pensions. I have no intention working past 66. I started as a 15 year old apprentice, so will have done 51 years of paying paye and prsi by the time I retire. I have always paid my dues and don't feel one bit guilty about taking the pensions.
And you shouldnt, i just hope for your sake and all of ours it will be paid..."
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"Is everyone else here saying the age or amount should be increased happy to pay the massively increased tax that would be needed to pay for it?
Maybe we should start with the politicians and introduce one state pension only...
Anyhow there's a tsunami coming down the road nobody has mentioned yet: the generations 'rent' that we're creating at present. They'll be homeless when it comes to retirement.
Now how did we get to this point? Let's see what we have in the cocktail: A damaged financial system, neoliberal investment policies, housing crisis...
it's decades of corrupt, ruthless and failed FF/FG politics. Is that what you call 'responsible with the economy'?"
You're absolutely right ministerial pensions need an overhaul, but that is a mere drop in the ocean with regards the pensions crisis. You're also right on the long term renters being a massive problem.
Unfortunately there is a paradox here because doing something that's affordable for the country is going to mean smaller cash avaliable for pensions. That's what I mean by being responsible with the economy. I mean not jist building up an unaffordable national debt. |
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We all know it's a looming problem, I fully accept that but I want to see our leaders lead by example.
Apparently even Robert Troy will qualify for a pension of a mere 46000 euro due to his limited time as a TD inc a lump sum on retirement, followed on by whatever quangos and boards he sat on a few times a year, they all.come with entitlements as far as I'm aware. I stand to be corrected but I'm sure these c_nts in office have their pockets well lined with golden handshakes and pensions when they eventually get their snouts outta the trough |
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"We all know it's a looming problem, I fully accept that but I want to see our leaders lead by example.
Apparently even Robert Troy will qualify for a pension of a mere 46000 euro due to his limited time as a TD inc a lump sum on retirement, followed on by whatever quangos and boards he sat on a few times a year, they all.come with entitlements as far as I'm aware. I stand to be corrected but I'm sure these c_nts in office have their pockets well lined with golden handshakes and pensions when they eventually get their snouts outta the trough"
You're right of course... but its a sideshow to the actual issue. |
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"We all know it's a looming problem, I fully accept that but I want to see our leaders lead by example.
Apparently even Robert Troy will qualify for a pension of a mere 46000 euro due to his limited time as a TD inc a lump sum on retirement, followed on by whatever quangos and boards he sat on a few times a year, they all.come with entitlements as far as I'm aware. I stand to be corrected but I'm sure these c_nts in office have their pockets well lined with golden handshakes and pensions when they eventually get their snouts outta the trough
You're right of course... but its a sideshow to the actual issue."
Bitter pills are easier to swallow when the decision makers dance to the same tune. Solidarity and all that!
But then turkeys don't vote for Christmas
Lol |
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By (user no longer on site)
over a year ago
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I think it's a great option. if someone is fit and healthy and wants to work till 70 then why shouldn't they, the extra 60 euro is just an incentive to work on but you don't have to.. |
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By (user no longer on site)
over a year ago
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"I think it's a great option. if someone is fit and healthy and wants to work till 70 then why shouldn't they, the extra 60 euro is just an incentive to work on but you don't have to.. "
I agree like everything in life it should be up too the individual. |
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People seem to forget that most people will likely start work at 21 or 22 years of age and work up to 65.thsts 40 odd years of paying prsi. If they're not going to pay my old age pension then please refund all the money that they've supposedly invested thank you very much. |
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By *ubal1 OP Man
over a year ago
Newry Down |
The government, because of costs involved, has to push the pension age up as much as politically possible; the finance committee said it should be incrementally raised to 67, later 68 and later again 69.
The problem, or issue is that the population is ageing and living much longer than was formerly the case.
The full state pension in UK is £185.15, but the cost of living in NI is lower, and there are other payments which supement that.
The cost of living in the Republic is much higher, so the pension needs to be much higher to ensure a similar standard of living |
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"People seem to forget that most people will likely start work at 21 or 22 years of age and work up to 65.thsts 40 odd years of paying prsi. If they're not going to pay my old age pension then please refund all the money that they've supposedly invested thank you very much. "
I'm not sure anyone forgets this. The cost of paying for pensions, and the recieving of pensions is something that we all have to think about because we are the ones that pay the bills, and also will ultimately receive the benefit.
Also PRSI is to pay towards all social insurance payments including...
Jobseeker's Benefit
Jobseeker's Benefit (Self-Employed)
Illness Benefit
Maternity Benefit
Paternity Benefit
Adoptive Benefit
Parent's Benefit
Health and Safety Benefit
Invalidity Pension
Widow's, Widower's or Surviving Civil Partner's (Contributory) Pension
Guardian's Payment (Contributory)
State Pension (Contributory)
Treatment Benefit
Occupational Injuries Benefit
Carer's Benefit
It's intended to aid those in need in society as far as the state can afford... so no, you can't have your PRSI back. |
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"People seem to forget that most people will likely start work at 21 or 22 years of age and work up to 65.thsts 40 odd years of paying prsi. If they're not going to pay my old age pension then please refund all the money that they've supposedly invested thank you very much. "
Sure they invested it things like E Voting machines  |
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By *ubal1 OP Man
over a year ago
Newry Down |
From the in-depth analysis of the cabinet's decision to ignore the expert group report, I strongly suspect that this has been another fudge, that is going to have to be revisited over the next 30 years; the predicted deficit in the pension fund could run to hundreds of millions of Euros.
There is a demographic time bomb emerging in many post-industrial economies; an ageing population and a shrinking number of young working people to pay for them in their dotage! |
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By (user no longer on site)
over a year ago
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The offer of a bigger pension at 70 if you stay on working is a con. Better to take it and work on part time than not take it and work full time. If you don't youll end your best days working full time with mo freedom to rest up or do some of the things you planned. Government don't give you anything for fres and the bigger pension is a lure to keep you working and keep you paying tax. |
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By (user no longer on site)
over a year ago
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Bottom line is they don't give a f**k , what would suit them would be be a person works all their life then dies , that way that have taken tax from you and don't have to pay a pension...they want people to work till they're 70 for a few quid a week extra and by then you'll have to pay more for things anyway and for 5 more years of your life ? F**k off !!! ..and while they give themselves lotto style pensions ? Something you or l will never have ..like l said F**K OFF !! |
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