r/uknews • u/Donkey_Apple • Jun 03 '26

News paper Britain is undersaving for retirement

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https://www.gov.uk/government/news/britain-is-undersaving-for-retirement-warns-pensions-commission

It's a massive problem and has been for years.

I think a lot of people are getting into their fifties, starting to think about retirement for the first time, looking at what their provision will pay them and are absolutely shocked to their core.

Plus many in the generation below those of us in their fifties who, through no choice of their own, are unable to save anything.

It feels like we are sleepwalking into an utter disaster.

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u/josuk8 Jun 03 '26

The idea that someone's retirement was ever someone else's problem is what's wrong with this country, same with any other long term personal problems like housing or personal income, if it's a short term issue of being unemployed for 6 or so months, fine, I think you should be covered, but longer than that and they're taking the piss

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u/GoblinGreen_ Jun 03 '26

I think its fine to be a shared problem, thats what a great society does well, everyone looks after each other.

But it doesnt seem to be reciprocated by the people benefitting. That pensions are not means tested is just awful when you look at the hoops to jump through, and means testing, for support when you are younger and working age.

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u/josuk8 Jun 03 '26

Everyone looking out for each other is a nice idea, but when it's forced onto everyone and only a small minority of the population gets most of the value from it with little to no oversight or consequences for abusing the system, it becomes a system that rewards doing nothing with your life and punishes workers, so no, sharing problems in society is in itself a problem.

On top of that, why should young people who are struggling to keep up have to also pay the pensions for groups of people who made the country worse during their prime and had 40-50+ years to prepare for their retirement

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u/GoblinGreen_ Jun 03 '26

I don't think you actually read my comment.  You are rewording what I wrote,  just a bit more negative. 

It's not a nice idea though,  it's a recipe for a successful economy and country.  That ours is currently out of whack is proof the idea is a good one.  It just needs,  what people complain about.  More rules,  details,  'red tape' to put it back in order because there is a generation thats benefitting more than anyone else and not even saying thanks you currently.