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Started by bossab2 on Jan 10, 2019 10:01:09 PM
Unemployment rate hits 50%* !

What are we going to do with all the unemployed over 60s who can't retire because company pension schemes have been slashed - and they won't get their state pensions till they are increasingly well over 65...?

https://assets.publishing.service.gov.uk/governmen
t/uploads/system/uploads/attachment_data/file/56824
0/employment-stats-workers-aged-50-and-over-1984-2015.pdf


  • For those over 60

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Tadagee - 10 Jan 2019 22:03:45 (#1 of 82)

Still...

HorstVogel - 10 Jan 2019 22:12:37 (#2 of 82)

what's the difference between being unemployed with receiving benefits and living on a state pension?



I honestly don't know what the difference would be in the UK. In Germany there may be a fudge between unemployment benefit and the state pension if sufficient years of contribution are available.

barkis - 10 Jan 2019 22:13:23 (#3 of 82)

The piece you link to doesn't seem to say anything about unemployment.

bossab2 - 10 Jan 2019 22:17:27 (#4 of 82)

Unemployment is lack of employment.

And old Gen X won't generally have pensions that start at 60.

Lawlsie - 10 Jan 2019 22:17:53 (#5 of 82)

I'll be 63 in March. Since I gave up Real Journalism for Real Work I've never been busier. Can hardly catch my breath. Old is gold my current client tells me...

Verdigris - 10 Jan 2019 22:22:05 (#6 of 82)

My 65th birthday came and went and I carried on working. Haven't got round to claiming my state pension and still contribute to a private pension. haveen't claimed my bus pass, either. Did get a free flu jab, thoughbut, and have had my aorta measured.

bossab2 - 10 Jan 2019 22:23:33 (#7 of 82)

I'll be 63 in March. Since I gave up Real Journalism for Real Work I've never been busier. Can hardly catch my breath. Old is gold my current client tells me...

No Golden Retirement Pot at 60 then Lawls ?

cozzer - 10 Jan 2019 22:25:35 (#8 of 82)

The piece you link to doesn't seem to say anything about unemployment.

what, bossab has linked to a story with some entirely spurious spin in the thread header? I don't believe it.

Tadagee - 10 Jan 2019 22:28:45 (#9 of 82)

From the Exec Summary

The employment rate for people aged 50 to 64 has grown from 55.4 to 69.6 per cent over the past 30 years, an increase of 14.2 percentage points.

So literally the exact opposite of what ol Mr Grumbles is saying.

bossab2 - 10 Jan 2019 22:29:57 (#10 of 82)

The report shows 60-65 year old employment at around 50%.

So that means the other 50% are retired or unemployed.

As most of the cohort currently heading towards 60 would have had pensions which kicked in at 65 (if they had pensions at all), those over 60s will be looking for jobs.

And retailers like B&Q aren't exactly doing well at the moment.

cozzer - 10 Jan 2019 22:36:17 (#11 of 82)

As most of the cohort currently heading towards 60 would have had pensions which kicked in at 65 (if they had pensions at all), those over 60s will be looking for jobs.

Or they had pension plans that allowed early retirement. Try again.

bossab2 - 10 Jan 2019 22:48:33 (#12 of 82)

Or they had pension plans that allowed early retirement. Try again.

The only people I know from the cohort who have taken early retirement are those that worked for the state.

Most people from the cohort I know have big holes in their pension provision (that's if they have any at all).

Its now the post Thatcher cohort who are approaching 60. And one thing Thatcher did was destroy the 'job for life'.

guigal - 10 Jan 2019 22:50:45 (#13 of 82)

bossab2 - 10 Jan 2019 22:17:27 ( #4 of 11)

Not being employed is not the same thing as unemployment. The unemployed are job-seekers who are not in work. It does not include the economically inactive. They are not counted in the unemployment statistics.

The main economically inactive groups are students, people looking after family and home, long-term sick and disabled, temporarily sick and disabled, retired people and discouraged workers. (Office for National Statistics)

The unemployed are a different category. They are defined as:

without a job, have been actively seeking work in the past four weeks and are available to start work in the next two weeks. (Office for National Statistics)

cozzer - 10 Jan 2019 22:52:15 (#14 of 82)

The only people I know from the cohort who have taken early retirement are those that worked for the state.

Well, I know quite a lot of people who have taken early retirement. Maybe you're wrong.

Vendor - 10 Jan 2019 23:04:46 (#15 of 82)

We can't keep them past 60 at our place. Blokes that have been here for 20 years or more are retiring on or around their 60th birthday and doing very well, thank you very much. I've been here since I was 45 and even I'm looking to go at 62 at the very latest.

bossab2 - 10 Jan 2019 23:38:20 (#16 of 82)

Presumably enticed by a company pension which pays out at 60 ?

bossab2 - 10 Jan 2019 23:40:22 (#17 of 82)

"Discouraged workers " WTF?!

Vendor - 11 Jan 2019 00:36:09 (#18 of 82)

You can take your company pension at 55.

xDiggy - 11 Jan 2019 00:40:57 (#19 of 82)

My retirement plan is selling my JTT points on the markets, but they won’t be worth anything if people keep giving them away.

guigal - 11 Jan 2019 01:28:27 (#20 of 82)

bossab2 - 10 Jan 2019 23:40:22 ( #17 of 19) "Discouraged workers

You can look up this stuff for yourself, you know.

In economics, a discouraged worker is a person of legal employment age who is not actively seeking employment or who does not find employment after long-term unemployment. This is usually because an individual has given up looking or has had no success in finding a job, hence the term "discouraged". (Wikipedia)

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