Property News · January 28, 2014

The word 'pension' must go. Under-30s need a new way of retirement saving


Pensions aren’t working for my generation, says Katie Morley (aged 25). Here’s what she would do to fix the systemBritain’s broken pension system is going to fail my generation and I want something to be done – before it’s too late. Radical reform is needed now, or millions of young people will be in serious danger of a poverty stricken old age.There is so much wrong with pensions it is hard to know where to begin. They are complicated, opaque and inefficient, so it’s no surprise that young people don’t trust them. The government knows this, but has been tiptoeing around the industry and its bloated profit margins for too long. Its failure to make the industry play fair is seriously threatening the future security of young people, while money managers enjoy champagne lifestyles and get to keep their shareholders smiling for a bit longer. Continue reading…

Source : theguardian.com
Read more…The word ‘pension’ must go. Under-30s need a new way of retirement saving

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