Quote:
Originally Posted by macafee2
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I think pension age is to high, 67, your body is on its way out. With private pensions lets look at 55 being the new retirement age. I'm sure there are reasons why this is not practicable.
macafee2
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This cannot happen for the majority because a private pension is nothing more than a long-term savings scheme where the pension funds are invested in the stock market. The majority of people do not earn enough to save a large enough pension pot from which to draw a pension over an extended period. My own feeling is that the top 20% or so of the working population will be able to retire early, as they can now, but the majority will end up working until the age of 70ish.
I just hope we don't end up with the Russian system where I believe the pensionable age is higher than the average life!