UK Pension Gap Worst in Europe

Leo Kolivakis's picture

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Sun, 08/14/2011 - 00:37 | 1558321 BillFreeman
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I think that this is beginning to be the case in more countries in western civilization.  I work in the auto repair financing industry, and I see many clients of retirement age unable to make simple repairs on their vehicles due to inadequate pensions.  With capitalism comes greed, and I believe that's what is at the core of this issue.

Fri, 08/05/2011 - 05:29 | 1526000 cindycheng
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Tue, 07/19/2011 - 07:01 | 1469451 cindycheng
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I want to express my admiration of your writing skill and ability to make readers read from the beginning to the end. I would like to read newer posts and to share my thoughts with you.
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Wed, 09/22/2010 - 14:06 | 597812 zuhoobie
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Leo - what does this article assume in terms of future state pensions?  It sounds like it assumes these state benefits will continue as they are.

State benefits are generous on mainland Europe.  But, these benefits are not funded (no real assets backing the state benefits - they are just promises).  Assuming that they will continue as they are in 2050/2060 is questionable (at best). Like nearly every state pension system out there - the underlying assumption that governments can always raise taxes to meet the benefit needs of the retirees is wrong.  Especially when the workforce is shrinking. 

Fact is: our modern day retirement thinking was formed and put into place in the early 1900's.  Back then, you had 5 kids, you retired at 65 and you were dead at 70 (if you were lucky).  We live in a society where people think they can work for 35/40 years, then spend a good 25+ years in retirement. Those demographics just don't add up.  Japan is an unfolding example - lets see what happens there in the next two decades...

Wed, 09/22/2010 - 11:12 | 597267 covert
covert's picture

right now retirement is a low priority. focus on victory against jihad. that is the priority.

Wed, 09/22/2010 - 09:53 | 597003 bigking12345
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people think their annuties and whole life will give them livetime income are in for a big wakeup.

Wed, 09/22/2010 - 09:38 | 596950 Sudden Debt
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Wed, 09/22/2010 - 09:47 | 596975 Dismal Scientist
Dismal Scientist's picture

You are beyond retarded. Indeed, you may have taken 'stupid' into a whole new category ;-)

I realise you were joking, since noone is that terminally dumb. I wouldn't write the English off just yet. Since you hail from Belgium, I believe, you may need us to help you out like we did in the 1940's...



Wed, 09/22/2010 - 09:12 | 596879 Species8472
Species8472's picture

Is it possible to save for retirement. I mean, can a society as a whole, save for retirement. Under what conditions. Has anyone really looked into this. What if everyone saved, how much to save, what would the effect on asset prices be, what happens during draw down. Is it possible for a society to save for retirement?

Wed, 09/22/2010 - 09:54 | 597007 LowProfile
LowProfile's picture

Sure you can save for retirement.

...Just be very careful what you choose to use to save for retirement in!

Wed, 09/22/2010 - 09:11 | 596873 RockyRacoon
RockyRacoon's picture

People need to think about continuing to work part-time.

Same here.  Does that mean that labor costs are going down? Does that mean that unemployment rates will rise?  Does that mean we are screwed?  Well, I reckon so.

Wed, 09/22/2010 - 09:08 | 596870 Internet Tough Guy
Internet Tough Guy's picture

UK is toast, forget pensions, they have to find a way to survive as a nation.

Wed, 09/22/2010 - 08:38 | 596815 OldTrooper
OldTrooper's picture

The last few paragraphs are the most interesting, Leo. 

Wed, 09/22/2010 - 08:24 | 596785 ZackAttack
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So, what public policies have European nations enacted in the last 40 years that would encourage savings rather than consumption?

Wed, 09/22/2010 - 08:17 | 596776 Quincy
Quincy's picture

Great advertising by Aviva ... get people to 'save' more by making greater monthly contributions into their Aviva retirement fund = more in commissions and perpetuate the ponzi.

Wed, 09/22/2010 - 08:04 | 596754 Jake Lamotta
Jake Lamotta's picture

Our governments are merely puppets and the "elite" are running the show behind the scenes by pulling the strings.  Civil unrest is coming and even the old folks will join in!

Wed, 09/22/2010 - 04:08 | 596683 m43cap
m43cap's picture

I believe it!

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