Dreams of rocking chair contentment in retirement may be the goal for many workers but capitalism's reality could well shatter that notion. "Millions of workers will be forced to work past the age of 75 because they are in the dark on how much they need to save for a comfortable retirement. The Pensions Policy Institute, which carried out the research, said that people were not saving enough, although living longer, volatile stock markets and plunging annuity rates were also to blame. Its research found that 45 per cent of people over the age of 50s would have to work for an extra 11 years past the state pension age, currently 65, if they wanted to live a comfortable retirement." (Daily Telegraph, 25 April) After a lifetime of exploitation and insecurity most workers will not attain their retirement aims. RD
The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
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