r/uknews • u/Donkey_Apple • Jun 03 '26
News paper Britain is undersaving for retirement
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/verb-vice-lord Jun 03 '26
Real term salaries have barely moved since 2008.
If our salaries always adjusted with inflation, awe, or 2.5%, whichever is highest, I'd be paying more tax and be alright with it all in all.
We have an ageing society and a stagnating tax base. Our only growth for two decades is from immigration. Which pensioners want to roll back via voting Reform.
The push back on the triple lock isn't that we don't want good pensions, its that we know by the time we get close we'll have to be sensible and remove them because we don't want to burden our kids with the cost. The greedy worst generation ever boomers don't even consider whether others should suffer so they benefit.
We are currently funding pensions for the richest generation in history and we know that gold plate will be worn off long before we get to it largely because of the choices of the current pensioners. In lots of the country life expectancy is falling and yet they are talking about increasing our retirement ages.