Sounds like social security here in the US. I don't expect the program to even be around when I retire.
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Sounds like social security here in the US. I don't expect the program to even be around when I retire.
In the UK it used to start aged 65 for men and 60 for women. It is now being adjusted to 67 for all:
But this wont be enough. I expect it to continue to rise, however, any reduction in value is a real difficulty. Pensioners vote, more than any other age group, so for any political party to cut their benefits is extremely difficult. Possibly a cross part imitative would work, but as the left wing did much better than expected in the recent election, this is unlikely in the foreseeable future! https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/310231/spa-timetable.pdf
Thanks for all your input David @dwhntx