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Ageing Europe warned of 'unsustainable' pensions
http://www.x404.co.uk/forum/viewtopic.php?f=19&t=9351		 Page 1 of 1
Author:  Amnesia10 [ Thu Jul 08, 2010 1:31 am ]
Post subject:  Ageing Europe warned of 'unsustainable' pensions
http://news.bbc.co.uk/1/hi/world/europe/10545280.stm

Quote:
"The choice we face is poorer pensioners, higher pension contributions or more people working more and longer," Mr Andor said.

The report says "the steep rise in old-age dependency ratios could be largely avoided if people would work longer".

Less than 50% of adult Europeans are still in work by the age of 60, yet member states had pledged in 2002 to push back the retirement age by five years, it says.

People will need to work longer pay in more of their salaries and yet still be much poorer when they retire.
Author:  Amnesia10 [ Thu Jul 08, 2010 3:01 pm ]
Post subject:  Re: Ageing Europe warned of 'unsustainable' pensions
The private sector are simply not paying in enough contributions to enable people to retire. With the low growth that we have now we need to be putting closer to 35% of our annual salaries aside to guarantee a pension equivalent to a final salary scheme. The question is not really are public sector pensions too generous but really one of are private sector pensions adequate? The simple answer is no.

Pushing retirement age back to 70 will help a lot but mandatory higher contributions would also make a huge difference. Abolishing the annual pension contributions cap is another. Reforming pensions management is another with a clamp down on fees which effectively such the life out of the schemes but are great for the companies managing them. Pension pots should be segregated into years, so that those closest to retirement will already have their pension in secure investments so are less effected by stock market swings. Also a ban on separate directors pensions, so that they are in the same boat as everyone else in the firm. along with a ban on transfers out of insolvent pensions so that they are tied to the solving of the pension black hole.
Author:  pcernie [ Thu Jul 15, 2010 7:23 am ]
Post subject:  Re: Ageing Europe warned of 'unsustainable' pensions
Quote:
"The choice we face is poorer pensioners, higher pension contributions or more people working more and longer," Mr Andor said.


You just know it's gonna be a combo of all three :evil:
Author:  Amnesia10 [ Thu Jul 15, 2010 8:46 am ]
Post subject:  Re: Ageing Europe warned of 'unsustainable' pensions
pcernie wrote:
Quote:
"The choice we face is poorer pensioners, higher pension contributions or more people working more and longer," Mr Andor said.


You just know it's gonna be a combo of all three :evil:

It definitely will be except for MPs.
Author:  hifidelity2 [ Thu Jul 15, 2010 11:10 am ]
Post subject:  Re: Ageing Europe warned of 'unsustainable' pensions
pcernie wrote:
Quote:
"The choice we face is poorer pensioners, higher pension contributions or more people working more and longer," Mr Andor said.


You just know it's gonna be a combo of all three :evil:


Agree – but its a fact of life

The alternative is the “Logan’s Run” solution

Keep retirement at 60, and at 65 kill you off

That way we have good pensions as the amount of money required is known
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