PLANNING for the future can be tricky, especially as the cost of everything keeps going up – leaving people with little money to put aside.
Having checked her pension, however, one teacher was horrified to learn that she’ll be nearly seventy before she stops going to school.
Clik here to view.
Clik here to view.
Having already spent decades shaping young minds, she understandably wasn’t too thrilled after this realisation.
Others have had a similar reaction to having to retire at 68 and shared their long list of concerns in a thread on Mumsnet.
The original post read: “I’m 45, 46 this year. Checked online 2 years ago and my state pension age was 67, which I thought was bad enough, for some reason checked again today and it’s gone up to 68!!
“I knew that the government were thinking of doing this but I have no recollection of being told it had actually happened.
“This affects my work pension which I now can’t take until 68 too as it aligns to state pension age.
“Have I missed some huge public announcement?”
Disgruntled with the increasing age of the state pension, the 45year-old teacher moaned about being in a similar position.
She joked: “I’m 45 and a teacher – I’m sure teenagers will be listening to me at 68!”
With the rowdiness from some kids, we aren’t surprised that she was worried about how she’d cope in the classroom.
“I’m not so much bothered about the state pension but the Teachers’ Pension cannot be claimed now until state pension age,” the user complained, adding: “I guess there will be loads of us in ill health working or on benefits.”
It wasn’t just the secondary school teacher that had been concerned about how they’d cope waiting for retirement.
Those with physically demanding jobs also wondered how they’d be able to keep working into their late sixties and early seventies – especially as their health declined.
A fellow teacher joked: “I’m going to be wheeling my zimmer frame into my classroom at the age of 68 trying to teach when my body and brain is saying no!”
Another user added: “I’m laughing at the thought of being in prison till I’m 68!”
“I’m laughing at the thought of lifting patients down stairs and jumping up,” said a third woman, who was expecting to retire at 68 – despite the age you can claim state pension currently being 67.
Others feared that the state pension age would continue to rapidly rise and even joked that they would pass away before they ever claimed it.
A fourth moaned: “This is what makes me worry about struggling now to save for a pension because as it gets higher and higher so much more chance I’ll be dead before anyway!
“I’m currently 38 [and] I have a horrible feeling it will be 75 by the time it comes to me retiring.”
Clik here to view.
Clik here to view.
For anyone who is still confused about retiring, the current age you can claim state pension is 66.
However, this is expected to increase to 67 over the next decade.
If you want to find out when you can claim your pension, you can also check via the online calculator on the UK government’s website.
Clik here to view.
How does the state pension work?
AT the moment the current state pension is paid to both men and women from age 66 - but it's due to rise to 67 by 2028 and 68 by 2046.
The state pension is a recurring payment from the government most Brits start getting when they reach State Pension age.
But not everyone gets the same amount, and you are awarded depending on your National Insurance record.
For most pensioners, it forms only part of their retirement income, as they could have other pots from a workplace pension, earning and savings.
The new state pension is based on people’s National Insurance records.
Workers must have 35 qualifying years of National Insurance to get the maximum amount of the new state pension.
You earn National Insurance qualifying years through work, or by getting credits, for instance when you are looking after children and claiming child benefit.
If you have gaps, you can top up your record by paying in voluntary National Insurance contributions.
To get the old, full basic state pension, you will need 30 years of contributions or credits.
You will need at least 10 years on your NI record to get any state pension.