Time to retire (I wish)

[merryone]

What is it about my turning 60 that makes me resent having to go to work? A lot of things mainly knowing that in the not so distant past a woman was eligible for a full state pension at 60 and could retire if they wished. It's 67 now and rising and at 61 that feels like a long long time and I don't want to wish my life away. My work place has changed beyond recognition since I began there in 2002. No more are they providing hours a mum can do between dropping off and collecting the kids from school, no longer is there room for the older person who just wants a few hours in the afternoon to get them out of the house. The hours are harsh, the starts are early (6.30 -7am) and the later shifts can involve being there until 10.30 at night. One good thing about the pandemic it cut the hours our service counters (I'm in a supermarket btw) from a 10pm close to an 8pm close and they never reverted it back. For me a late means I get to leave at 8.30 pm but even so I'm knackered at the end of it and I've had enough. I'm fed up with working in a place where there's more "suits" than there are workers to get the job done satisfactorily.
In a different thread I mentioned how our corridors are full of rainbows, catchphrases and various other "diversity" related matter, they've not gone but now they're going down the "kindergarten" route and we now have a "hall of fame" with star charts and photos of grinning employees who've been praised for going above and beyond and general fluffiness...FFS! Again when I began, our rest area was designed to be a place of tranquility - There were nice pictures on the walls, our corridors consisted of posters that conveyed useful information, and there was a staff noticeboard - this has all gone to be replaced by eye poppingly garish $hite that wouldn't be out of place in a gay bar or in a children's nursery! It's not helped that when I'm home on my days off I watch a lot of daytime tv quiz shows and the amount of contestants who are my age and younger say "I'm happily retired". I realise that if someone is in a job or a career that they love things are very different, but for an underachiever like me whom my job is an annoying necessity it's becoming increasingly harder. Today I'm working from midday until 8.30 pm and I'd so much rather not lol! Sorry folks but I needed to get this off my chest!

 

[donna255]

There was a piece the other day on BBC breakfast news about discrimination to older people in the work place. Then you see pieces about retired people going back to work in places like B&Q etc who are well into their 70s and loving it. There are hints, it seems, that they will raise the retirement age to 71 in the next few years. Younger people cannot get jobs and blaming older people hanging onto jobs and road blocking as it is called.

People who retired early are the ones who have saved for years towards their retirement and can afford to. A friend worked in the civil service for years and given the option to leave at 60 she was unhappy and jumped at it but said she made a big mistake as her civil servant pension did not go as far as expected each month, and it would be at the official state pension age it was 65 then before she got the full amount and also her state pension. Now, she did get a lump sum and cleared her mortgage, but everyday things cost more than she expected.

I reached 66 last year and was lucky to get my state pension at 66. My boss was selling the bakery and did say I could stay on, but I thought no. I know a friend, and she did stay on as care assistant but got hammered by tax. Not worth it for me. I do get a small civil service pension and a lump sum.

 

[merryone]

There was a piece the other day on BBC breakfast news about discrimination to older people in the work place. Then you see pieces about retired people going back to work in places like B&Q etc who are well into their 70s and loving it. There are hints, it seems, that they will raise the retirement age to 71 in the next few years. Younger people cannot get jobs and blaming older people hanging onto jobs and road blocking as it is called.

People who retired early are the ones who have saved for years towards their retirement and can afford to. A friend worked in the civil service for years and given the option to leave at 60 she was unhappy and jumped at it but said she made a big mistake as her civil servant pension did not go as far as expected each month, and it would be at the official state pension age it was 65 then before she got the full amount and also her state pension. Now, she did get a lump sum and cleared her mortgage, but everyday things cost more than she expected.

I reached 66 last year and was lucky to get my state pension at 66. My boss was selling the bakery and did say I could stay on, but I thought no. I know a friend, and she did stay on as care assistant but got hammered by tax. Not worth it for me. I do get a small civil service pension and a lump sum.

For some reason Donna I had you down as someone in their 30s!

 

[merryone]

Like I suggested there are jobs and there are jobs. A big supermarket job is not ideal for someone in their advancing years, too much management, too many rules, hare brained schemes invented by some overpaid head office worker, long unsocial hours and of course being expected to go in with a perma-grin and deal with a hell of a lot of petty issues from rude and demanding customers. Don't get me wrong there's some nice ones too of course there is, but in a busy supermarket the longer conversations are usually when you have to deal with someone being awkward

 

[PhædrusR]

Like I suggested there are jobs and there are jobs.

@merryone
Was going to say that most retired early types, e.g. in quiz shows, are often former civil servants, ex-Forces, Police or NHS/teachers on decent, often gold-plated final salary pension schemes that often completed at 50/55 in the old days (i.e. guaranteed amounts based on a calculation of leaving final salary average and contributions made at a given fraction and number of years served and paid-in).

Hope this doesn't depress you further; it's good to be active.

For me it was slightly different. Effectively early retired (deferred).
A combination of the pandemic, home working, a downturn in business at that time and a subsequent rationalisation of staff, meant "they made me an offer I couldn't refuse" to leave voluntarily, so I was able to leave work 3 years ago.

In theory, I might consider going to do another job, voluntarily, work or charity, but for various reasons haven't yet.

I had enjoyed working, with a 30+ year career, but had always planned to retire early, if I could afford to, couldn't see myself working beyond 55, not even 60, let alone 65+, so was able to get out even earlier than 55, due to the payout which hastened it.

Fortunately the job came with a decent final salary pension and subsequently another one too and I had paid in from the beginning of starting work 30+ years ago.

What sort of pension scheme do the supermarkets offer their shop workers?

As an ex Co-op shop boy 40-odd years ago I might even have a tiny Co-op pension lying around somewhere!

The timing was also convenient and synchronicity as I also care for a relative so it seemed the right time to go and not have to fit work in with that also, which was becoming harder and more demanding of my time

I didn't watch (much) morning or daytime or shopping TV, honest.

Then I discovered shoppingtelly.com!

 

[merryone]

@merryone
Was going to say that most retired early types, e.g. in quiz shows, are often former civil servants, ex-Forces, Police or NHS/teachers on decent, often gold-plated final salary pension schemes that often completed at 50/55 in the old days (i.e. guaranteed amounts based on a calculation of leaving final salary average and contributions made at a given fraction and number of years served and paid-in).

Hope this doesn't depress you further; it's good to be active.

For me it was slightly different. Effectively early retired (deferred).
A combination of the pandemic, home working, a downturn in business at that time and a subsequent rationalisation of staff, meant "they made me an offer I couldn't refuse" to leave voluntarily, so I was able to leave work 3 years ago.

In theory, I might consider going to do another job, voluntarily, work or charity, but for various reasons haven't yet.

I had enjoyed working, with a 30+ year career, but had always planned to retire early, if I could afford to, couldn't see myself working beyond 55, not even 60, let alone 65+, so was able to get out even earlier than 55, due to the payout which hastened it.

Fortunately the job came with a decent final salary pension and subsequently another one too and I had paid in from the beginning of starting work 30+ years ago.

What sort of pension scheme do the supermarkets offer their shop workers?

As an ex Co-op shop boy 40-odd years ago I might even have a tiny Co-op pension lying around somewhere!

The timing was also convenient and synchronicity as I also care for a relative so it seemed the right time to go and not have to fit work in with that also, which was becoming harder and more demanding of my time

I didn't watch (much) morning or daytime or shopping TV, honest.

Then I discovered shoppingtelly.com!

Our pension scheme has changed, when I first started there we were promised a "free" pension when you got to the right age, you had the option to contribute to it each month which was basically any amount you wished. I only put £10 a month aside and did that for many years, but some people I knew were putting in £100 per month. A few years down the line that changed and they abolished the "free" pension, but we were told that those in the original scheme would not lose anything they've accrued up to now but the new scheme meant that whatever you pay in every month will be matched by them. Basically you could choose to pay a minimum of 2% of your monthly wage and a maximum (which off the top of my head I don't know what it is). So for example if that works out at £25 per month, you'll get £50 paid in.
At the age of 55, if we chose to we could cut our hours down by a third and you'd receive a "tide over pension" plus a lump sum which I jumped at a soon as I was able. The only stipulation was if you still earned over a certain amount you still had to pay into the pension scheme, I did, so I do. I don't really understand much about my pension, I just know that with my now part time hours and my small pension that I've got enough to get by.
I do three days a week which doesn't sound much, but with such early starts, physically demanding tasks, awkward customers and so many rules, hare brained ideas etc etc etc I've completely had enough. My bugbear as I mentioned before is this late shift I do, it's only every other week but it's really getting me down, I've asked on numerous occasions to shorten the shift/drop it altogether but there's always been something that prioritises them looking at it for me, or prevents them from allowing this to happen. The really frustrating thing is that I'm not actually needed on my section for about 3 hours after I start so I'm scratching around trying to find things to do, and when I do is usually something horrible like cleaning shelves, or getting rid of cardboard boxes and it does my nut! In about 2 and a half years I get awarded 6 months off on full pay plus all my holiday entitlements but at the moment that feels like a lifetime away. This is a brilliant and generous incentive which I'm surprised is still going, even with that in mind I'd still rather fully retire from there but I simply can't afford to.

 

[Peppermint Patti]

What is it about my turning 60 that makes me resent having to go to work? A lot of things mainly knowing that in the not so distant past a woman was eligible for a full state pension at 60 and could retire if they wished. It's 67 now and rising and at 61 that feels like a long long time and I don't want to wish my life away. My work place has changed beyond recognition since I began there in 2002. No more are they providing hours a mum can do between dropping off and collecting the kids from school, no longer is there room for the older person who just wants a few hours in the afternoon to get them out of the house. The hours are harsh, the starts are early (6.30 -7am) and the later shifts can involve being there until 10.30 at night. One good thing about the pandemic it cut the hours our service counters (I'm in a supermarket btw) from a 10pm close to an 8pm close and they never reverted it back. For me a late means I get to leave at 8.30 pm but even so I'm knackered at the end of it and I've had enough. I'm fed up with working in a place where there's more "suits" than there are workers to get the job done satisfactorily.
In a different thread I mentioned how our corridors are full of rainbows, catchphrases and various other "diversity" related matter, they've not gone but now they're going down the "kindergarten" route and we now have a "hall of fame" with star charts and photos of grinning employees who've been praised for going above and beyond and general fluffiness...FFS! Again when I began, our rest area was designed to be a place of tranquility - There were nice pictures on the walls, our corridors consisted of posters that conveyed useful information, and there was a staff noticeboard - this has all gone to be replaced by eye poppingly garish $hite that wouldn't be out of place in a gay bar or in a children's nursery! It's not helped that when I'm home on my days off I watch a lot of daytime tv quiz shows and the amount of contestants who are my age and younger say "I'm happily retired". I realise that if someone is in a job or a career that they love things are very different, but for an underachiever like me whom my job is an annoying necessity it's becoming increasingly harder. Today I'm working from midday until 8.30 pm and I'd so much rather not lol! Sorry folks but I needed to get this off my chest!

 

[Wanderer]

I do feel that the retirement age is likely to rise further in the next few years, so it's not clear when my time will come. Not that I think I can afford to retire.

Although I do have a small private pension that I started off some 30 years ago it isn't worth much. It was started off with the encouragement of my employer as he had one and felt I would need one in future. The money for it was over and above my salary, then about 10 years ago my employer stopped the payments to it as the business was struggling financially.

I did look at restarting payments into a pension about five or six years ago, but the feedback I got was the most of the providers were looking at upwards of £200 a month and that in a couple of decades of growth it wouldn't be worth much. Not that I could afford £200 or more a month, so I dropped the idea.

@merryone Sorry to read that you are having to carry on. Shame that you cannot just opt to work the shifts that suit you, especially with your years of service.

When you get those six months off if I were you I'd try to do those things I have always wanted to do, if you can afford to that is, while you are still being paid in full.

The new pension scheme you describe sounds very much like the Auto Enrollment type that was set into law in 2008.

https://www.nowpensions.com/employers/learn-about-workplace-pensions/what-is-auto-enrolment/

 

[merryone]

I do feel that the retirement age is likely to rise further in the next few years, so it's not clear when my time will come. Not that I think I can afford to retire.

Although I do have a small private pension that I started off some 30 years ago it isn't worth much. It was started off with the encouragement of my employer as he had one and felt I would need one in future. The money for it was over and above my salary, then about 10 years ago my employer stopped the payments to it as the business was struggling financially.

I did look at restarting payments into a pension about five or six years ago, but the feedback I got was the most of the providers were looking at upwards of £200 a month and that in a couple of decades of growth it wouldn't be worth much. Not that I could afford £200 or more a month, so I dropped the idea.

@merryone Sorry to read that you are having to carry on. Shame that you cannot just opt to work the shifts that suit you, especially with your years of service.

When you get those six months off if I were you I'd try to do those things I have always wanted to do, if you can afford to that is, while you are still being paid in full.

The new pension scheme you describe sounds very much like the Auto Enrollment type that was set into law in 2008.

https://www.nowpensions.com/employers/learn-about-workplace-pensions/what-is-auto-enrolment/

Seriously I haven't got any yen to do anything in particular that I couldn't do now, a week or two's holiday in sunnier climes every year is enough for me and a few short breaks and day trips do me fine. I just like the idea of being able to do what I want to do whenever I want to without having to worry about money. I feel my age, I've not had a brilliant last couple of years and whilst it's good to be positive, I'm not getting any younger and the idea of 2.5 years to work and wait feel like a million right now! Just that glorious feeling of not having to be beholden to a job you pretty much hate and having enough money to live on would be plenty enough. Of course if I did suddenly get the itch to broaden my horizons then I could do it at my own pace and if perchance I missed working then I could always sign up for some voluntary work - it would be my choice. OH is a little older than me and is retired and that doesn't help. I am essentially lazy!

 

[Wanderer]

Seriously I haven't got any yen to do anything in particular that I couldn't do now, a week or two's holiday in sunnier climes every year is enough for me and a few short breaks and day trips do me fine. I just like the idea of being able to do what I want to do whenever I want to without having to worry about money. I feel my age, I've not had a brilliant last couple of years and whilst it's good to be positive, I'm not getting any younger and the idea of 2.5 years to work and wait feel like a million right now! Just that glorious feeling of not having to be beholden to a job you pretty much hate and having enough money to live on would be plenty enough. Of course if I did suddenly get the itch to broaden my horizons then I could do it at my own pace and if perchance I missed working then I could always sign up for some voluntary work - it would be my choice. OH is a little older than me and is retired and that doesn't help. I am essentially lazy!

Sadly not everyone gets to tick stuff off their wishlist as work or lack of finance gets in the way, hence my suggestion to do what you want sooner rather than later.

Sorry to hear you've had a bad time in the last couple of years.

I am lucky in that I do (mostly) enjoy what I do, though sometimes it can be tough dealing with customers as you say and those long conversations do grind you down.

 

[Suki 1]

What is it about my turning 60 that makes me resent having to go to work? A lot of things mainly knowing that in the not so distant past a woman was eligible for a full state pension at 60 and could retire if they wished. It's 67 now and rising and at 61 that feels like a long long time and I don't want to wish my life away. My work place has changed beyond recognition since I began there in 2002. No more are they providing hours a mum can do between dropping off and collecting the kids from school, no longer is there room for the older person who just wants a few hours in the afternoon to get them out of the house. The hours are harsh, the starts are early (6.30 -7am) and the later shifts can involve being there until 10.30 at night. One good thing about the pandemic it cut the hours our service counters (I'm in a supermarket btw) from a 10pm close to an 8pm close and they never reverted it back. For me a late means I get to leave at 8.30 pm but even so I'm knackered at the end of it and I've had enough. I'm fed up with working in a place where there's more "suits" than there are workers to get the job done satisfactorily.
In a different thread I mentioned how our corridors are full of rainbows, catchphrases and various other "diversity" related matter, they've not gone but now they're going down the "kindergarten" route and we now have a "hall of fame" with star charts and photos of grinning employees who've been praised for going above and beyond and general fluffiness...FFS! Again when I began, our rest area was designed to be a place of tranquility - There were nice pictures on the walls, our corridors consisted of posters that conveyed useful information, and there was a staff noticeboard - this has all gone to be replaced by eye poppingly garish $hite that wouldn't be out of place in a gay bar or in a children's nursery! It's not helped that when I'm home on my days off I watch a lot of daytime tv quiz shows and the amount of contestants who are my age and younger say "I'm happily retired". I realise that if someone is in a job or a career that they love things are very different, but for an underachiever like me whom my job is an annoying necessity it's becoming increasingly harder. Today I'm working from midday until 8.30 pm and I'd so much rather not lol! Sorry folks but I needed to get this off my chest!

I live in your area which Company do you work for if you don't mind me asking?

 

[merryone]

I live in your area which Company do you work for if you don't mind me asking?

I'd rather not say because quite a few people have been disciplined for talking about our workplace on social media. I know this isn't social media as such but I do feel a little nervous. Many years ago I was discussing a work issue my friend had on here to get some advice for her and another forum member who lived in my neck of the woods posted a lot of things that suggested to me that she actually knew her, so I wrapped up the conversation pretty quickly and it made me really quite anxious - nothing came of it but even so. I have nothing to hide and I don't mind people knowing where I live and what I do for a job but what I like about this place is that fact you can talk to people who you don't know personally. Seriously if a friend joined on here I'd post one hell of a lot less than I do! Hope you don't mind 'cause you only asked an innocent and friendly question and I appreciate that x

 

[Suki 1]

I'd rather not say because quite a few people have been disciplined for talking about our workplace on social media. I know this isn't social media as such but I do feel a little nervous. Many years ago I was discussing a work issue my friend had on here to get some advice for her and another forum member who lived in my neck of the woods posted a lot of things that suggested to me that she actually knew her, so I wrapped up the conversation pretty quickly and it made me really quite anxious - nothing came of it but even so. I have nothing to hide and I don't mind people knowing where I live and what I do for a job but what I like about this place is that fact you can talk to people who you don't know personally. Seriously if a friend joined on here I'd post one hell of a lot less than I do! Hope you don't mind 'cause you only asked an innocent and friendly question and I appreciate that x

 

[Suki 1]

That is ok I understand.

 

[Anna]

For some reason Donna I had you down as someone in their 30s!

I thought the same

 

[PhædrusR]

Seriously I haven't got any yen to do anything in particular that I couldn't do now, a week or two's holiday in sunnier climes every year is enough for me and a few short breaks and day trips do me fine. I just like the idea of being able to do what I want to do whenever I want to without having to worry about money. I feel my age, I've not had a brilliant last couple of years and whilst it's good to be positive, I'm not getting any younger and the idea of 2.5 years to work and wait feel like a million right now! Just that glorious feeling of not having to be beholden to a job you pretty much hate and having enough money to live on would be plenty enough. Of course if I did suddenly get the itch to broaden my horizons then I could do it at my own pace and if perchance I missed working then I could always sign up for some voluntary work - it would be my choice. OH is a little older than me and is retired and that doesn't help. I am essentially lazy!

If you're not enjoying the work, could you get a different job, or change roles to go behind the scenes more or move to another company?
Or would that adversely affect Pension and future income.

Not quite the same, but I felt a bit like you, the last year or two I stopped enjoying the work as much and the environment and could just see myself hanging on and longing for a future date to leave, and it was becoming stressful dealing with the politics, reorgs, day to day issues, etc. so became another reason to leave. I even kept mentioning to Management that I'd go if they offered it, to put it in their minds if it came up! It did eventually.

Could you get redundancy, voluntary or otherwise to cover the gap to retirement/pension age. I see Asda and other supermarkets are struggling and planning lay-offs.

If your OH is retired on a pension can you not live on that until you get yours. Could you claim any care benefits, attendance allowance, etc. to tide you over. Just some ideas.

Have you consulted a financial planner/bank advisor to see if you could leave or change work earlier or reorganise affairs to make it possible?

 

[merryone]

I definitely wouldn’t consider getting another job, better the devil and all that and my age wouldn’t help my cause. To be honest the role I have within my workplace is one of the nicer ones It’s the hours and just the general feeling of being a wage slave at my age that’s getting to me. They don’t do redundancies at my level so if I left I’d be left with my savings that wouldn’t last that long and oh’s pension. Yep I’m sure we’d just about manage to scrape by but it would mean tightening our belts big time and for oh who’s done his time deserves not to have to scrimp and save in retirement. It is what it is really- I just needed to vent!