65 too young to retire?
Posted by James O'Brien on July 29, 2010 at 14:33PM
Simply put, a state-imposed retirement age and state-paid pension create an equation to which the current answer - £97-a-week at the age of 65 - is spectacularly unsustainable.
It is inarguable that the population is older than ever and unavoidable that the workforce will need to evolve to reflect this. Simply put, a state-imposed retirement age and state-paid pension create an equation to which the current answer - £97-a-week at the age of 65 - is spectacularly unsustainable. But if the age increases there is no guarantee that the pension will. In fact, the opposite is more likely: more people working beyond 'retirement' age surely reduces the need for increasing pension levels. In other words, the Government is rightly recognizing the need for change in this arena but patronizingly and cynically dressing it up as empowerment of the elderly rather than the inevitable upshot of a system that can't afford to provide them with a decent standard of living.