The scale of the pensions disaster is underlined in a survey which shows the average retiree will be living off just £15.95 a day in future. Just a quarter of people are saving enough for a "comfortable" retirement without work, it shows. 'The research, from financial services company True Potential, warns millions may never be able to give up employment if they do not want to live on the breadline. It found a toxic mix of high inflation, government cuts and low interest rates will also hit pensioners. True Potential's David Harrison said: "It is not a gap, but a chasm. Without an enormous change in behaviour, it will be simply impossible for millions of people to retire well into old-age. Indeed, many millions may never be able to retire".' (Daily Express, 28 July) So much then for many workers dream of a contented retirement - the breadline beckons! RD
The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
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