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Do you aspire to be in work in your 60s and even 70s?

(84 Posts)
LucyGransnet (GNHQ) Wed 09-Dec-15 11:43:39

We recently saw a report from independent think tank Bright Blue advocating that the UK should have a higher proportion of people in their late sixties and seventies in work to boost individual and national prosperity. From the report:

Bright Blue calls on the Government to introduce new policies to ensure those who aspire to work when they are aged 65 or over are better supported. Bright Blue argues that if baby boomers in particular decide to work for a greater number of years they will be contributing enormously to the economy and helping to create more intergenerational fairness.

The current government has already adopted Bright Blue's recommended policy of enabling working grandparents to be entitled to Shared Parental Leave, so more older workers can stay in work and meet their family commitments.

Bright Blue is now calling for the introduction of a new lifetime Higher Education (HE) loan account for all adults to be able to obtain financial support to pay the tuition fees of HE courses to upskill and reskill throughout their working lives, so people are better able to work for longer later in life.

Our recent report advocated that all eligible adults from the UK and other EU aged 18 onwards should be entitled to access a lifetime HE tuition fee loan account from government to pay for tuition of any HE course - full-time or part-time - in England during their lifetime. This means that adults of whatever age could access this account to pay for equivalent or lower qualifications, or courses below a certain intensity.

Those who are older can currently access tuition fee loans for undergraduate courses, and in the future, those aged up to 60 will be able to access tuition fee loans for postgraduate courses. But these tuition fee loans are not available for those undertaking equivalent or lower qualifications, or those undertaking courses that are studied below a certain intensity of hours per week.

The amount in the lifetime loan account should be determined after extensive consultation led by government. It should take into account that the amount would have to be high enough to take into account people studying multiple degrees. However, the loan account should also be low enough to trigger price competition and, in particular, downward pressure on undergraduate tuition fees in England.

Similar to the current system, students will repay the amount they have borrowed from their lifetime loan account to the Student Loans Company through the PAYE system. This tuition fee loan will be separate and junior to the maintenance loan UK students can obtain for a first undergraduate degree.

We'd be very interested to know your thoughts on the report: whether you'd want to be in work into your 60s and 70s, whether a higher education loan would make you more likely to retrain - or maybe you're not tempted at all!

Maggiemaybe Tue 26-Apr-16 20:04:16

At 61, I am more than happy to be able to do regular childcare for my DGC and take some time out for myself. What I am not happy about is having to do it without my state pension for the next 5 years when I'll be 66, after paying into the system for 41 years. I loved my job, but am glad to have handed it on to someone half my age, with a family to support. When the DGC are at school and I have more free time, I'll be volunteering. As for lifelong learning, I'm all for it, but I'd rather any resources were concentrated on the young. There are plenty of opportunities for us older end to access free courses.

phoenix Tue 26-Apr-16 18:56:24

No, as others have said ( gillybob ? ) I don't "aspire" I have no choice, I'm 57, and won't get a pension until I'm 66!

Nightnurse Tue 26-Apr-16 18:25:18

I don't have a choice, how I wish I did 2023 seems So far away.

Greyduster Tue 09-Feb-16 15:37:55

Absolutely not. Couldn't wait to leave. Love my retirement.

henetha Mon 08-Feb-16 14:21:25

No. Worked enough, thank you.

Floradora7 Mon 08-Feb-16 13:28:31

I intend to complete a masters degree next year, I didn't know that the loan would be available - good news. I hope I will still be fit enough to work in my 60's and 70's.

Lyndylou Fri 08-Jan-16 23:43:47

I'm 64 in a couple of weeks. I was made redundant about 2 years ago with a small pay off and my State Pension kicked in about the same time. I also have a modest private pension that started at 60. I just found I quickly missed the structure of the working day, so I went back to my old firm to cover someone's maternity leave and I'm presently back there again covering another colleague's sick leave. In between I have done short periods of contract work for another firm that I worked for a decade ago.

I feel I have the best of both worlds at the moment, I can manage financially without working, but can earn extra for holidays when I want to. I work when I want, but when this work period comes to an end soon I shall stay home until Spring!! I'm looking forward to getting back to my online Future Learn courses and picking my grandson up from school again. I enjoy my periods of work and I enjoy my periods of not working.

I don't think that I am taking work from the younger generations. I'm always valued higher than the younger ones as I just get on with the work (without the continual messing about with smart phones) and, in my experience, if you are available for instant start contracts, then there is work out there. I'm just not ready for full retirement yet, maybe next year!!

Ginny42 Fri 08-Jan-16 20:56:59

I am 73 and work contracts. My husband decided to leave when we were 66 and took much of our savings with him. It left me bereft and filled with self doubt. I needed to restore my sense of worth and I've done it by continuing to be successful in my long career.

I need to work for my own peace of mind and to keep my brain ticking over. I am a trainer both in the UK and overseas, and I can assure anyone who thinks I'm taking a young person's job, trainers in my field are in short supply, so I'm fufilling a great need. When I'm no longer enjoying it I will stop. I hope to get contracts in 2016 and have already been booked by a leading UK university.

This is my choice, but more than that, it defines me, gives me a sense of purpose and ensures my wellbeing.

Rhonab Thu 07-Jan-16 11:23:56

What next? I actually took early retirement at 55 when my husband retired. I had no intention of retiring but stress at work made me rethink everything and as we could afford it, I retired. Best decision ever!!!
I just couldnt see me doing my job beyond 60, I was a nurse and it was both physically and mentally exhausting.
As for retraining for something more suitable to old age ... Er no, my life is busy and full thank you very much.

Let the young work as we did when we were young and only real layabouts layabout.

Grannynise Thu 07-Jan-16 10:45:39

If we all went to work in our sixties and seventies the whole voluntary service system would grind to a halt. I include voluntarily providing child and elder care.

ladybird9 Wed 06-Jan-16 21:28:28

Hi Oldernowiser, I read your comments with interest, you sound so much a positive person ad that is most of the battle of becoming retired or aged, good for you, hope you can continue until YOU are ready to do otherwise. Life is too short when you ae on the end of it so whatever you feel makes you happy, DO IT.. to your heart's content.......

Leticia Sun 13-Dec-15 19:49:48

I am far busier than I was when working but it is far more fun. You can actually do the sort of thing you did as a job- you just don't get paid. e.g. I still run workshops for children but don't get all the paperwork that I had as a teacher- I don't get any paperwork!

rosequartz Sun 13-Dec-15 19:02:33

I think the National Trust would collapse without its volunteer guides.

granjura Sun 13-Dec-15 12:53:31

U3A is great too- learning something new everyday or at least every week does wonder for ze little grey cells. Will start again in earnest with Italian next year- was doing AS Level when we moved here- sadly no advanced courses in our rural area- will have to find another way- a tandem perhaps.

granjura Sun 13-Dec-15 09:20:20

No intention of evr working full-time again. But like many retirees in mid 60s- I am busier than ever on the education comittee for the region, setting up two new Museums with a team, cinéclub, etc, and I do guided visits for the Museums and for the best chocolatier in the area. It's great to meet interesting people, support our beautiful region and children (I do quite a bit of coaching for local children on both side of the border- usually on an exchange basis).

But oh I do hate for meetings scheduled for 8am in winter!

Leticia Sun 13-Dec-15 08:06:12

It is wonderful paperbackbutterfly . The main problem is there is so much choice and a lot of things clash.

paperbackbutterfly Sat 12-Dec-15 16:29:45

I'm 58 and I think I have more than done my bit after working from the age of 15. I intend to retire at 62 and I have taken out a AVC to make this happen as my state pension won't be given to me until i'm 66 (51 years i've worked for it!) I can't wait to retire and have the leisure time that I see others enjoy

Amenhotep Sat 12-Dec-15 16:14:35

I re-trained on more than one level and in doing so found how much I enjoyed it, I ended up teaching others and still do albeit only on a very part time basis. I often think I would like more 'me' time but then I think I would probably become bored!
I also work for a charity and that is very rewarding too.

gerry86 Sat 12-Dec-15 14:45:22

I'd give up work tomorrow if I could but with the government moving the goalposts so I can't get my pension until I'm 66 I'll have to carry on.

rosequartz Sat 12-Dec-15 12:33:48

Expecting people to die at their ( so to speak) workbench isn't the answer
Quite - however, perhaps they are hoping to save money on paying care home fees for those unable to fund themselves. Work until you drop!

^ I am still working. It's my own business^
Lyndie you could interpret that two ways - and I agree - it is your own business! tchsmile

CyberNan Sat 12-Dec-15 12:22:17

Mid 50s and I love working, but in today's employment landscape where so many jobs are bank and zero hour or temporary contract it is not always easy. Working in the third sector, if the company I am working for looses it's contract or grant I can find myself looking for a job again. Fact, it is harder to find work as a more mature female. If I could I would work until I am not physically able to work any longer, because I enjoy work and I believe it helps keep me mentally healthy. I do not believe that giving mature students access to education is a waste of money as some have stated in this forum. Anyone can learn, but true knowledge comes when you couple that learning with experience, so apart from anything else having life experience students can only be of benefit to other less life experienced students.

M0nica Fri 11-Dec-15 20:43:59

Those working into retirement do not take jobs from the younger generation. There is not a fixed number of jobs in the economy and the jobs older workers do are not necessarily the jobs that younger workers do or want. Many older workers are employed by companies because they have work and technical skills that are not otherwise available among younger people.

The number of jobs in the economy has rocketed over the last 50 years. In the 1950s the total population of this country was under 50 million and the majority of married women did not work. Now the population is nearer 60 million and the majority of women are in the labour force. The main reason that so many skilled people have moved here from other countries, and been encouraged to come has been to meet the skills shortage in this country.

starbird Fri 11-Dec-15 12:53:54

I don't think that those with a reasonable workplace pension or other private means should take jobs from the younger generation. The govt should concentrate on improving the education and training systems so that young people are able to contribute efficiently to the workforce, also the jobs need to be there for them.

I also think that there should be opportunities for retired people to share their skills and experience, on a casual, voluntary basis, with younger people, whether it be DIY, cooking, parenthood, budgeting, mending, etc. I for one, would be willing to do this. Another possible opportunity for older people could be inspection; eg Appropriately qualified pensioners could be used as school inspectors, others could form groups to spot check hospitals and care homes. They could be minimally organised and given guidelines and training, background checked etc, and then be authorised do spot checks in their locality.

But for others who only are on a state pension, a simple re training to update their skills, if needed, to enable them to work full or part time, would be helpful. It would allow someone retiring at 65 facing perhaps 15+ years of life on £150 a week, the opportunity to have a cheap holiday and pay for occasional repairs/renewals etc

I am 69 and have just gone back to work after 3 years of retirement, for one day a week, and I love both the job and the spending money!

leyburn Fri 11-Dec-15 12:26:56

Pushed into early retirement aged 53 and very happy without full-time work thx. ;o)

Riverwalk Fri 11-Dec-15 12:13:42

I'm with gillybob on the word 'aspire' - can't imagine many people aspire to be working well into their 70s!

I'm 61 and work part-time as a nurse and have a couple of colleagues who are 68 & 72 respectively.

They're not working for the fun of it.