Those Lords are utter geniuses. How do they figure this stuff out?
lastaccountgotlocked on
An actual “Ministry of Stating the Bleedin’ Obvious” statement.
swordoftruth1963 on
Not entirely sure about this. Working age adults should see wages rise. Elderly people may find there is no social care or healthcare for them. Assisted dying may be on every 80 year olds birthday list
noun_verbed on
Makes a nice change, we usually get the nice end of a generational deal
Commercial_Aioli7212 on
It doesnt have to be this way though
This is the assumption, because old people expect to be afforded a comfortable retirement not through money they have put away but through taxation younger people will pay
An abundance of old people without good pensions should mean suffering for them, not their grandchildren
The_Sherminator2 on
Somewhat surprised by the mention that Gen X and Baby Boomers remaining in work or un-retiring is the solution. Because it seems like those people staying in jobs is a big reason young people are struggling to break into industries. At least the decent paying positions. No reason to hire a 20-something in an entry or middle level position when you can get a 50+ year old with 30 years experience for the same price.
I’m also not sure if it’s just my perspective coming from having parents who grew up in Thatcher Era working class families but everyone in my family in the 50+ range is either still working full time with no plans to stop or planning on only partially retiring and working part time. Either because they can’t afford it, or because they view traditional retirement as boring or laziness.
halfthesky1966 on
People coming up for retirement have always been told that they are paying into the NI contributions to fund their state pension. That is how it has always been sold to the now older generation. We have been told that if you miss any time ie out of work, ill, etc that you could fill in those gaps by paying extra NI to get „fully funded“ and to be able to get the full state pension. These are people who have contributed to their countries economy for like nearly 50 years (very few went to Universities back in the day) so were starting work at like 16. To suggest that after all this time they shouldn’t get the state pension is ludicrous.
Greybur on
God help the young people when I’m a pensioner. They have everything massively stacked against them already, it will be horrible in 25 years time.
obeescitynumberonefa on
No we won’t. It is not like we are funding their lifestyles, giving them fuel money for free and paying their second mortgages or anything
WeSavedLives on
Yes, because there a lot of protections in place for the elderly and very few the young.
Bitter_Chard on
While also unironically being part of the UK’s ageing population, are we 100% it wasn’t actually a threat?
Mean_Employment_7679 on
I’m nearly 40 and I’m no longer in the „young people“ bracket, but everyone my age has been getting shafted since we entered the workforce.
totallybi on
That’s strange. According to the typical reddit narrative, the only people who need to care about low birthrates are billionaires looking for more wageslaves.
Ell2509 on
Oh, you mean when our older generations are done giving generations of accumulated wealth to foreign companies for their own comfort and entertainment?
The generations leading our nation into the dirt will, if we survive, dmforever be remembered with scorn. There will be stories like myths.
JLaws23 on
Brave of you to think they will actually put themselves in that position.
Most young people are very aware of this and are already making plans to jump ship and those that won’t are on benefits, so good luck paying a massive generations worth of pensions from taxing benefits.
They will go without their pensions before this happens. Gen X and below aren’t FAFO.
Awkward_Leopard_6021 on
Yet the old people would swap place with the young people in a heartbeat.
BrianLikesCheese on
>Instead, it concluded that the single biggest improvement to the UK’s fiscal outlook would come from encouraging and incentivising people in their mid-50s to mid-60s to remain in work or return after leaving the labour market.
Good luck with that. I retired five years ago at sixty and I ain’t going back. I could afford to retire so why block a job that a younger person might really need?
Proud_Organization64 on
Young people should vote. Boomers are very enthusiastic about voting in their own interests and to the detriment of everyone else. Complaining is a waste of time if you don’t vote.
Average_sheep1411 on
Everyone ones suffering, especially those who can’t afford to get old. They were saying this stuff twenty plus years ago and gave the excuse that’s why we need more migrants to the UK.
Acceptable_Foot3370 on
Gee, no kidding, same thing in the US–Although people can retire at age 62 here, and get Social Security payments right away, the future is less bright for younger generations, as SS will be in the red in about 8 years, payments will eventually be significantly reduced
banb19 on
No mention of the massive benifit bill that alot of working age people currently get to sit at home on their backsides through generational laziness, because ‚young‘ people are going to have to front that out as well
Hedgehopper25 on
Ironic considering the H of L has the oldest demographic of any institution and each Peer takes more in public resources than any other pensioner in the country. Perhaps they should just abolish themselves as a necessary first step to reverse the inter generational imbalance.
jenny_905 on
Aye I certainly suffer from this giant unelected chamber of almost-corpses taking £370 each a day for a job that should not exist.
Nothing that we haven’t known about for a long time. Nice to see the narrative has changed from ‚we need NHS reform and a fairer deal between generations so younger people aren’t financially crippled‘ to ‚the workforce needs to be more productive and people need to save more.‘ Really reassuring, that.
IllustriousBit6634 on
I find it hard to sympathise with Boomers, who probably had the most accessible wealth opportunities in human history for your average Joe. Dirt cheap housing and decent pay in proportion to the cost of living. My mum was a single Mum who worked part time as a dinner lady, even she got a mortgage. All she had to do was sit on that house for x years and she accumulated wealth.
I know there’ll be a lot still who somehow missed out on all this. But surely state pension amount should at least be determined with some kind of assessment per person.
Spamgrenade on
Careful with the comments guys, by the time this really kicks in you are likely to be the problem.
Floyd_Pink on
„Young people will suffer most from ageing Lords population, UK says.“
FTFY
ZoltanGertrude on
I’m sure the inherited property wealth that will come their way might ease their grievances.
steak_bake_surprise on
Just before they walk in and sign the book while taking a tax free £361
Cautious-Natural-512 on
‚Young people will suffer moat‘ should be a national motto
dupeygoat on
LMAO NO SHIT IF THERE IS STILL A CIVILISATION FOR THEM BY THE TIME THEY COME TO TAKE OUT OF THE SYSTEM!!!!!!!
Back to sleep lords or preferably if you wanna help young people, there’s always dignitas or equity release for the avocado munching millennials and gen Zs
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31 Kommentare
Those Lords are utter geniuses. How do they figure this stuff out?
An actual “Ministry of Stating the Bleedin’ Obvious” statement.
Not entirely sure about this. Working age adults should see wages rise. Elderly people may find there is no social care or healthcare for them. Assisted dying may be on every 80 year olds birthday list
Makes a nice change, we usually get the nice end of a generational deal
It doesnt have to be this way though
This is the assumption, because old people expect to be afforded a comfortable retirement not through money they have put away but through taxation younger people will pay
An abundance of old people without good pensions should mean suffering for them, not their grandchildren
Somewhat surprised by the mention that Gen X and Baby Boomers remaining in work or un-retiring is the solution. Because it seems like those people staying in jobs is a big reason young people are struggling to break into industries. At least the decent paying positions. No reason to hire a 20-something in an entry or middle level position when you can get a 50+ year old with 30 years experience for the same price.
I’m also not sure if it’s just my perspective coming from having parents who grew up in Thatcher Era working class families but everyone in my family in the 50+ range is either still working full time with no plans to stop or planning on only partially retiring and working part time. Either because they can’t afford it, or because they view traditional retirement as boring or laziness.
People coming up for retirement have always been told that they are paying into the NI contributions to fund their state pension. That is how it has always been sold to the now older generation. We have been told that if you miss any time ie out of work, ill, etc that you could fill in those gaps by paying extra NI to get „fully funded“ and to be able to get the full state pension. These are people who have contributed to their countries economy for like nearly 50 years (very few went to Universities back in the day) so were starting work at like 16. To suggest that after all this time they shouldn’t get the state pension is ludicrous.
God help the young people when I’m a pensioner. They have everything massively stacked against them already, it will be horrible in 25 years time.
No we won’t. It is not like we are funding their lifestyles, giving them fuel money for free and paying their second mortgages or anything
Yes, because there a lot of protections in place for the elderly and very few the young.
While also unironically being part of the UK’s ageing population, are we 100% it wasn’t actually a threat?
I’m nearly 40 and I’m no longer in the „young people“ bracket, but everyone my age has been getting shafted since we entered the workforce.
That’s strange. According to the typical reddit narrative, the only people who need to care about low birthrates are billionaires looking for more wageslaves.
Oh, you mean when our older generations are done giving generations of accumulated wealth to foreign companies for their own comfort and entertainment?
The generations leading our nation into the dirt will, if we survive, dmforever be remembered with scorn. There will be stories like myths.
Brave of you to think they will actually put themselves in that position.
Most young people are very aware of this and are already making plans to jump ship and those that won’t are on benefits, so good luck paying a massive generations worth of pensions from taxing benefits.
They will go without their pensions before this happens. Gen X and below aren’t FAFO.
Yet the old people would swap place with the young people in a heartbeat.
>Instead, it concluded that the single biggest improvement to the UK’s fiscal outlook would come from encouraging and incentivising people in their mid-50s to mid-60s to remain in work or return after leaving the labour market.
Good luck with that. I retired five years ago at sixty and I ain’t going back. I could afford to retire so why block a job that a younger person might really need?
Young people should vote. Boomers are very enthusiastic about voting in their own interests and to the detriment of everyone else. Complaining is a waste of time if you don’t vote.
Everyone ones suffering, especially those who can’t afford to get old. They were saying this stuff twenty plus years ago and gave the excuse that’s why we need more migrants to the UK.
Gee, no kidding, same thing in the US–Although people can retire at age 62 here, and get Social Security payments right away, the future is less bright for younger generations, as SS will be in the red in about 8 years, payments will eventually be significantly reduced
No mention of the massive benifit bill that alot of working age people currently get to sit at home on their backsides through generational laziness, because ‚young‘ people are going to have to front that out as well
Ironic considering the H of L has the oldest demographic of any institution and each Peer takes more in public resources than any other pensioner in the country. Perhaps they should just abolish themselves as a necessary first step to reverse the inter generational imbalance.
Aye I certainly suffer from this giant unelected chamber of almost-corpses taking £370 each a day for a job that should not exist.
[Ready For Ageing? House of Lords Report 2013](https://publications.parliament.uk/pa/ld201213/ldselect/ldpublic/140/140.pdf)
Nothing that we haven’t known about for a long time. Nice to see the narrative has changed from ‚we need NHS reform and a fairer deal between generations so younger people aren’t financially crippled‘ to ‚the workforce needs to be more productive and people need to save more.‘ Really reassuring, that.
I find it hard to sympathise with Boomers, who probably had the most accessible wealth opportunities in human history for your average Joe. Dirt cheap housing and decent pay in proportion to the cost of living. My mum was a single Mum who worked part time as a dinner lady, even she got a mortgage. All she had to do was sit on that house for x years and she accumulated wealth.
I know there’ll be a lot still who somehow missed out on all this. But surely state pension amount should at least be determined with some kind of assessment per person.
Careful with the comments guys, by the time this really kicks in you are likely to be the problem.
„Young people will suffer most from ageing Lords population, UK says.“
FTFY
I’m sure the inherited property wealth that will come their way might ease their grievances.
Just before they walk in and sign the book while taking a tax free £361
‚Young people will suffer moat‘ should be a national motto
LMAO NO SHIT IF THERE IS STILL A CIVILISATION FOR THEM BY THE TIME THEY COME TO TAKE OUT OF THE SYSTEM!!!!!!!
Back to sleep lords or preferably if you wanna help young people, there’s always dignitas or equity release for the avocado munching millennials and gen Zs