This is a highly controversial article from the Telegraph. It’s a good read. Check it out!
With increasing hostility to austerity, policy-makers are looking at more radical solutions. With public and private pension provision not ready for greater longevity, the article speculates on working longer.
There are two issues that are related but should be dealt with separately.
Firstly, there are quite rightly serious objections to raising the retirement age and deferring the start of state pensions. This is effectively a lottery of birth date as to whether one’s a winner or loser.
Secondly, the issue of pensioners working longer should be down to individual choice not in response to austerity policies.
The responsibility for pensions in the private sector has been transferred to the individual in the UK. Yet the UK’s public sector still get guaranteed, inflation adjusted pensions.
This brings an open question:
Surely, it’s not fair for UK public sector workers to get better pensions than in the private sector?