A World Without Retirement 

A World Without Retirement 

The Guardian 

We are entering the age of no retirement. The journey into that chilling reality is not a long one: the first generation who will experience it are now in their 40s and 50s. They grew up assuming they could expect the kind of retirement their parents enjoyed – stopping work in their mid-60s on a generous income, with time and good health enough to fulfil long-held dreams. For them, it may already be too late to make the changes necessary to retire at all.

In 2010, British women got their state pension at 60 and men got theirs at 65. By October 2020, both sexes will have to wait until they are 66. By 2028, the age will rise again, to 67. And the creep will continue. By the early 2060s, people will still be working in their 70s, but according to research, we will all need to keep working into our 80s if we want to enjoy the same standard of retirement as our parents.

This is what a world without retirement looks like. Workers will be unable to down tools, even when they can barely hold them with hands gnarled by age-related arthritis. The raising of the state retirement age will create a new social inequality. Those living in areas in which the average life expectancy is lower than the state retirement age (south-east England has the highest average life expectancy, Scotland the lowest) will subsidise those better off by dying before they can claim the pension they have contributed to throughout their lives. In other words, wealthier people become beneficiaries of what remains of the welfare state.

Read More The Guardian 

Leave a reply

Your email address will not be published. Required fields are marked *

Getting Location

Please Wait

0

N/A

N/A

N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A

Forecast by forecast.io

RSS World News Feed

  • U.S. citizen recaptured after Bali jail break December 18, 2017
    DENPASAR, Indonesia (Reuters) - Indonesian police have recaptured a U.S. citizen who escaped a week ago from an overcrowded prison on the holiday island of Bali, the jail's second breakout of foreign inmates this year.
  • Honduran President Hernandez declared winner of November 26 election December 18, 2017
    TEGUCIGALPA (Reuters) - Honduras' electoral tribunal on Sunday declared conservative President Juan Orlando Hernandez the official winner of the Nov. 26 presidential election, sparking fraud accusations and calls for renewed street protests after a bitterly disputed contest.

Sov Indo Facebook

Facebook By Weblizar Powered By Weblizar

Sov Indo Tweets