Loading video…
All breakouts
18.3Talking HeadProblem Callout hook
Hook
State pension age to change... again!
@tomtalksinvesting
11.5K followers · usually 1.7K views a post
Views
30.7K
Likes
121
Comments
110
Shares
24
Why it worked
The video addresses a common concern about retirement planning and potential government changes, offering practical personal advice and a relatable perspective on financial independence.
Summary
The video discusses potential changes to the UK state pension age, which is currently legislated to rise to 68 in April 2044 but may be brought forward to 2037-39. The speaker shares their personal strategy of not relying on the state pension, instead contributing to a workplace pension and investing in a stocks and shares ISA to retire earlier.
Structure
- 1Introduction of potential state pension age changes
- 2Explanation of current legislation and proposed acceleration
- 3Speaker's personal financial planning strategy
- 4Call to action for viewer engagement
Call to action
Let me know your thoughts in the comments. How are you planning for your retirement?
On-screen text
State pension age to
change... again!
Transcript
WELL, I'm not surprised, but yeah, it looks like state pension age is gonna change yet again. So currently the state pension age is legislated to change to 68 in April 2044 to 46. But the Treasury have been speaking to the OBR, the Office for Budget Responsibility and they're saying their actual current policy position, so yes, that isn't law is to bring it forward seven years earlier. So that would mean state pension age would rise to 68 from 2037 to 39. So how am I planning for this? How am I gonna deal with this? Well, number one, I've accepted the fact that the government will always change the goalposts with the state pension. They're either gonna keep increasing the age you can claim it, who knows, it might be 70 by the time I get there. Or they may even go something more extreme means testing it. But number two, I'm aiming financially to not rely on the state pension. Yeah, I don't wanna retire anywhere near 70. And so to do that, I pay into my workplace pension. I pay 9.6%. But I also invest every month into a stocks and shares ISA. And as a result, I'm looking to retire a lot earlier than state pension. Let me know your thoughts in the comments. How are you planning for your retirement?
Original caption
The UK government has plans to raise the state pension age to 68 in 2037-39. That's seven years earlier than originally planned #investing #PersonalFinance #pension #retirement
More from @tomtalksinvesting
Their other posts in the index, biggest breakout first.
