Tesco first provate co to raise pension age to 67

[Welshbeef]

Just seen this on Sky news press review.
Frontline headlines

So the first company in the private sector to up the retirement age to 67.
How long before swathes of private companies follow?

It's just one big race to the bottom public and private.


Anyway with everything else going on with hiker costs higher taxes etc this is now yet another increase more for less.

Does make you wonder what is the point in all this effort? Hard work face value good base salary nice house nice cars but then hold on after all is said and done not that much left over.

A real pain

[Welshbeef]

MiniMan64 said:

We're all living longer, life expectancy is longer for everyone and pension schemes were not really designed for 40 years of payment.

Is anyone really suprised by this?

Of course not.
Facts are facts this is loaded up on top of all the other steep rises in other costs.


The problem is in the private sector final salary has gone. Career average is barely existent instead it's defined contribution and you have to pay in more.
Why do telco put up the age of retirement? Makes no sense surely te annuity rates male help make the individual decide as who on earth are telco to tell someone with a defined contribution when they can start a pension?
If it's their final salary lot and career average then there are hardly any employees on that in this company so it's headline grabbing

[Welshbeef]

Thanks for the clarity.
Makes total sense good on Tesco for keeping it on