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Bullets, Beans


Thursday, 16 February 2012

Pensions crisis forces thousands more to work ‘til they drop

If you think pensions are boring, how exciting do you think poverty in old age will be? That’s what I used to say to cynics who questioned the value of building a retirement fund. Or, if they’d heard that one before, I would point out that any fool can opt out of saving but it’s more difficult to opt out of growing old.

Now it seems that rising numbers of people are opting out of retirement. According to Prudential, one in 10 of those due to retire this year are “making alternative arrangements”.

How much bitter disappointment is there hidden away in that bland euphemism? Only one in three of the non-retirees could even be bothered to pretend they enjoy going to work so much that they cannot think of anything more entertaining to do with the rest of their lives. Two thirds say they are delaying retirement because they can’t afford it...more

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