The following article was first posted on 17th November
Despite what the Communities Secretary said yesterday, it is not just the young who need help from the government. While the “already retired” have done very well from final salary pension funds and the ‘triple-lock’ inflationary increases to the State Pension, the “soon to be retired” have not done so well.
Final Salary Pension Funds are becoming a thing of the past.
4.8 million people in self-employment generally have inadequate pension savings.
Women have on average 25% less income in the first year of retirement than men (Cridland Review 2017) .
Women born in the mid 1950s have also suffered unfairly from being asked to wait longer for their State Pension.