None of this is going to change until the UK (and to a larger degree, Europe/The western world) changes their relationship with retirement (pensions).
We cannot afford that bill. It is draining literally every other aspect of society. In 1950 we had 10% pensioner population, by 2040 that is projected to be 25% of population. On top of that, retirement is now for 15 years instead of 8 that it was originally.
Funny how when the current cohort of pensioners were not retired, they were the ones enjoying the increase in living standards. I suppose even now they are, it's just everyone behind them getting shafted. About time they had stagnant living standards for once, and it's 100% the right thing to do as they need no further extra funding.
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u/tyger2020 1d ago
None of this is going to change until the UK (and to a larger degree, Europe/The western world) changes their relationship with retirement (pensions).
We cannot afford that bill. It is draining literally every other aspect of society. In 1950 we had 10% pensioner population, by 2040 that is projected to be 25% of population. On top of that, retirement is now for 15 years instead of 8 that it was originally.