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RE: Pensions Timebomb In America – “National Crisis” Cometh
Sounds like social security here in the US. I don't expect the program to even be around when I retire.
Sounds like social security here in the US. I don't expect the program to even be around when I retire.
In the UK it used to start aged 65 for men and 60 for women. It is now being adjusted to 67 for all:
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/310231/spa-timetable.pdf
But this wont be enough. I expect it to continue to rise, however, any reduction in value is a real difficulty. Pensioners vote, more than any other age group, so for any political party to cut their benefits is extremely difficult. Possibly a cross part imitative would work, but as the left wing did much better than expected in the recent election, this is unlikely in the foreseeable future!
Thanks for all your input David @dwhntx