"Over-55s braced to work into their 70s as cost-of-living bites"

 A dreadful story. While some of us may want to think about working after retirement, nearly all of us would want to have the choice and not be forced to work until we drop. The answer is greater financial support by employers and government for pensions.

Check out this report in HR news https://hrnews.co.uk/over-55s-braced-to-work-into-their-70s-as-cost-of-living-bites/

• "Over a quarter (26%) of over-55s in work think they will still be working in their 70s
• 44% say the cost-of-living crisis has made retirement impossible
• Yet just 37% have a financial plan for retirement; only 43% know how much is in their pension

Over a quarter of over-55s believe they will still be working in their 70s, with the majority lacking a financial plan for retirement, new research by My Pension Expert has revealed.

The UK’s leading at-retirement adviser commissioned an independent survey of 2,000 UK adults. It found that the cost-of-living crisis has significantly impacted retirement plans, with 44% of over-55s in work believing it has made retirement impossible.

Over a third (37%) say the current economic climate has derailed their financial plans. Over a quarter (26%) think they will still be working in their 70s.

My Pension Expert’s research showed that, while Chancellor Jeremy Hunt is urging over-55s to either remain in work or re-enter the workforce, for millions, they do not feel they have a choice either way. Just 35% of over-55s think they will be able to retire when they want to.

The survey also revealed that many over-55s are not sufficiently prepared for stopping work. Less than half (43%) know how much they have saved in their pensions, and even fewer (37%) have a financial plan in place for retirement...".

My Sunday News

Some random bits and pieces I found interesting this Sunday morning.

Corbyn against illegal budget setting

Some Labour-led councils are reportedly considering drawing up budgets based on people’s needs, as opposed to council finances. In a letter to councillors, sent jointly with John McDonnell, the shadow chancellor, and Jon Trickett, the shadow communities secretary, Jeremy Corbyn points out that councils must set a balanced budget under the 1992 Local Government Act. Failure to set a balanced budget can lead to action against councillors under the code of conduct, a judicial review and intervention by the secretary of state. The letter continues: “It would mean either council officers or, worse still, Tory ministers deciding council spending priorities.”

The Guardian, Page: 4

Pensioners to be charged "falling fee"

Pensioners who need help being helped back to their feet after a fall at home are to be charged £26 by Tendring DC. A council spokesman confirmed the annual charge will be added to the overall cost of its Careline service for elderly package, adding the charge is required to pay for one member of staff to provide the cover.

The Sun, Page: 35   Daily Mirror, Page: 7

Clampdown on rogue landlords

Landlords who let out filthy or unsafe homes will face fines of up to £30,000 under new laws to be unveiled by housing Minister Brandon Lewis. Council chiefs will be able to slap a new civil penalty notice on offenders to provide an instant deterrent for criminal operators. Fines will be upped for failing to take action on issues such as overcrowding and poor sanitation. Measures to be introduced in the Housing and Planning Bill will go further to ensure landlords and agents who repeatedly break the rules will be banned for at least 12 months. A database of rogue landlords and letting agents will also be available for council staff to access.

The Sun, Page: 24

Millions give up on home ownership

Bank of England research reveals middle class families are turning away from home ownership as soaring costs and a lack of supply price millions out of the property market. The Bank's annual survey of household finances revealed that just under half of all families who don't already own their own home believe they will never get on the housing ladder. For the poorest fifth of households, the prospect of home ownership was even more remote, with more than half of non-homeowners stating that they were unlikely to ever buy.

The Sunday Telegraph, Business, Page: 1, 2

Hat tip LGA daily news

Kill the Housing Bill - protest 5 January parliament

A protest lobby and meeting in parliament on 5 January will mark the next stage of the fight against the Housing Bill. A campaign to Kill the Housing Bill - secure homes for all launched last weekend at a packed meeting of tenants, trade unions, councillors, traveller organisation and a representative from the office of John McDonnell MP, called the protest to mark opposition to the Bill, as MPs discuss amendments during the first report stage in the House of Commons.For more details contact info@defendcouncilhousing.org.uk Download for more.Protesters will rally outside Parliament at Old Palace Yard SW1A 0AA from 2pm, joined by MPs and other speakers against the Government' s latest onslaught on truly affordable and secure homes. A protest meeting inside Parliament 5-7pm will hear tenants, trade unions, councillors and MPs explain the case against the Housing Bill and for investment in council housing. Last week, ministers managed to sneak in last minute amendments to the Bill to remove secure lifetime council tenancies.  Support this campaign * Join the protest at Parliament 5 January: 2pm Old Palace Yard and 5pm inside Parliament (allow 30 minutes to get in due to security checks) * Come to the next organising meeting 16 January 11am at Unite offices, 128 Theobalds Rd London WC1X 8TN * Organise a local meeting against the Housing Bill - contact tenants groups, trade unions, councillors, MPs and housing campaigners and lobby local MPs * Contact info@defendcouncilhousing.org.uk or 07432 098440 for leaflets and to add your support.

Getting wet & furious on route to Great Tory Train Robbery Protest

As I walked to join the #GreatToryTrainRobbery protest at Stratford Station early on Monday morning, I was listening on earphones to Chancellor George Osbourn, being interviewed on Radio 4 news "Today".

Osborne blithely announced a further £25 billion in welfare cuts after 2015. When it was suggested that since payments to pensioners  cost half of all such welfare spending he should be cutting winter fuel allowances to wealthy pensioners, he said that this would only save a few millions. He suggested instead the savings will be made by further cuts to young people's housing benefit and by charging more to Council tenants who earn £60-70k per year.

It was raining quite hard at the time and was too windy to put up an umbrella (not the best day to start fulfilling a New Years Resolution to walk everywhere) but this helped cool me down while listening to this nonsense.

The Government has already restricted housing benefit to a room in a shared house for those under 26? Not all kids have middle class parents with spare beds to fall back on if they become unemployed or sick. Remember who introduced bedroom tax and got rid of spare bedrooms?

There is a tiny, tiny number of Council tenants (why only Council tenants? what about housing association tenants? Does someone like him know there is a difference?) who earn that amount of money. There is an argument about increasing their rent levels but I thought Tories were against means testing? Housing Associations have been given the power to charge variable rents but have, by and large, decided that it would be more costly and bureaucratic to implement than they would gain.

Frankly we need more better paid tenants living in social housing. We don't want benefit ghettos or private gated estates - we want genuine mixed communities with headteachers, entrepreneurs and doctors living alongside the retired, the low paid and the unemployed.

None of above is going to save £25 billion. The "Today" presenter gave Osbourne a hard time over his claims but like nearly everyone in the media, seems to accept that there is no alternative to cuts, cuts, cuts? What about increase in taxation for those wealthy enough to pay?

I had cooled down by the time I got to Stratford (aka soaked).  West Ham Labour Party CLP had organised leaflet protests against train and bus fare increases outside Stratford, Forest Gate, Canning Town and Royal Docks stations (see photo collage).

London has the highest public transport costs in the world. Fares under Tory Mayor Boris are rising 3 times more than wages. He is also getting rid of the staff who keep passengers safe late at night. This year's protest was at stations all over London and the South East.

It was also the first day back to work after the holiday for many workers. Fittingly, it is called "Blue Monday". I hope people in this years May election remember Osborne and the Tory fare increases of Blue Monday and vote Red.