As they near retirement age many workers console themselves with the notion that they will at last be free from money worries, but recent research may lead them to reconsider their dreams of rocking chair contentment. "Research published today suggests that many people with private pensions will be as much as 30 per cent worse off compared with those with similar savings who finished work in 2008, because of a combination of tumbling stock markets and interest rates at a record low. PricewaterhouseCoopers, the accountants, said those facing retirement this year would be left "between a rock and a hard place", forced to consider putting off claiming a pension until market conditions improve." (Daily Telegraph, 8 October) Even after a lifetime of work and money anxiety capitalism still holds no respite for many workers. RD
The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
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