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Yet more on pensions August 3, 2017

Posted by WorldbyStorm in Uncategorized.
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Seeing as we’re on the topic, the IT had a big spread at the weekend on pension provision. What to say? First up those selected were almost overwhelmingly in what are relatively high income jobs (I was particularly taken by the person working at a bond dealer who started her pension at 23). But even then reality kept seeping through… the fact that employers were usually disinterested in employing those over 50 despite the state pension availability being pushed back by the state into the late 60s. The fact that defined contribution schemes offered no certainty as regards outcomes. And perhaps underneath it all a sense that even for those with higher incomes stability is less evident than before. Not much use though for those of us in less stellar situations.  A point made, I think by SoS last week, that small wonder sections of the middle class are voting left in light of all this. But also a sense that even though the model is broken the orthodoxy still believes despite the financial impossibility of it that individuals can take up the slack.

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1. Jim Monaghan - August 3, 2017

One point I woudl make, is that raising the pension age when youth employment is so high does not make any sense. Indeed the unemployed and those on pension should be regared as receivibng state benefit from the same fund. So it makes sense on a lot of grounds on getting young people active in the work force rather than older people. One reason for thsi is the damage of longterm unemployment on a young person is far far worse than earlyish retirement on an older person.

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WorldbyStorm - August 3, 2017

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