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Aristotle

Moron claims people will live much, much longer (and so should retire later...except him)

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6 minutes ago, P.K. said:

Previously the body gave out before the mind did.

The rise in dementia means we have tipped the balance and the mind now outlasts the body.

Is that what you want....?

Reading that, I think you might be getting there old chap.

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11 hours ago, finlo said:

The money can go to people who have paid in for 50 years plus or to a retiring CS at 55 years old not both.

As i understand it, a CS can retire at 55 but it is reflected in the size of the pension. (number of qualifing years )You dont retire early on a full pension, but if you go on medical grounds the pension can be as much as the normal pension.

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5 minutes ago, pongo said:

This is very  relevant. 

The wording on on a death certificate  and how this is "coded" can have an effect on the apparent  prevalence of a disease.

Very old people often have multiple pathologies and it is sometimes a culimination of conditions that  kills them.The decision is  which is the most significant underlying  cause of their death  and entering it in a sort of hierarchical / sequential   format.

An elderly person with a history of confusion   could be entered as cerebral  degeneration due to cerebral arteriosclerosis  rather than simply "dementia" or if considering the final illness , say  bronchopneumonia  or hypostatic pneumonia could be entered with  arteriosclerosis an underlying cause without mention of dementia if it was thought it was not a contributing factor.

If there is a focus on dementia and an increased tendency to enter it as cause then there will be an apparent increase in incidence.

 

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34 minutes ago, woolley said:

Reading that, I think you might be getting there old chap.

Ha!

Badly worded without a doubt!

I think I would rather my body gave out before my mind did.....

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21 minutes ago, Roger Mexico said:

The irony of all this is that it has been announced recently that the increase in life expectancy in the UK has stalled - to the extent that life insurance companies are releasing money from their reserves as they expect not to need it .

That could end well. Quite apart from longevity issues they should be prudent as they can have no idea how their investments will perform in the future and levels of inflation that might be experienced in decades to come. A very dangerous game. Remember the "pension holidays" the big companies took in the nineties because they were overfunded?

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But fear not. Government policies are now contributing, and will continue to contribute to driving the average lifespan down.

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Surely the real issue is that most pension schemes face a massive shortfall in funding?  

The younger generations are going to see their working lives extended (although not necessarily their own life span) in order that pension funds (both state and private pensions) can continue to collect contributions to fund the older generations in their retirement.  At the same time the younger generation will see cuts to the state pension and will not have access to generous private pension scheme unless they are very open to taking risks with investments.  They will need to continue working in order to make up for the loss in post-retirement benefits.  

In the UK the idea of retirement is dwindling.  The Equality Act 2010 has now virtually banished compulsory retirement age (unless it can be reasonably justified) and employees will now hand in their notice (resign) rather than be retired by their employer.  Those who are unfit to remain in work will be dismissed on the grounds of ill health capability. 

It would not surprise me if the idea of retirement completely disappeared in future except for the privileged few who can afford a long retirement.  The rest of us will have to work until we drop or can no longer work and are forced out of employment.

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39 minutes ago, woolley said:

Welcome to the global race to the bottom.

Capital is dead labour, which, vampire-like, lives only by sucking living labour and lives the more, the more labour it sucks.
Karl Marx, Das Kapital, Vol. I, Ch. 10, Section 1, p. 257.

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15 hours ago, Aristotle said:

There is no evidence that people are continuing to live longer

There is actually evidence that we're living longer, but more recently the rate has slowed (http://www.instituteofhealthequity.org/about-our-work/marmot-indicators-release-2017). The increase in life expectancy has been attributed to declines in smoking and cardiovascular disease. 

I think there is a risk of those in manual occupations being unfairly punished with rising life expectancies as social inequalities grow.

My other concern would be if retirement ages increase, does it not make it harder for the younger generations to find work? Just because people retire later doesn't mean there are more jobs, just that people stay in their jobs for longer. 

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4 hours ago, JOE450 said:

As i understand it, a CS can retire at 55 but it is reflected in the size of the pension. (number of qualifing years )You dont retire early on a full pension, but if you go on medical grounds the pension can be as much as the normal pension.

If you draw benefits before the retirement date of the scheme (which I think is 60) then for each year younger you are the benefit is reduced by a percentage for each year. 

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