Who will protect older workers in the UK?
As the recession continues to hit many areas of the UK business arena there are concerns that many older workers in the workforce could encounter a recession double whammy. Amid concerns that many older workers could be jettisoned as costs are cut and unemployment rises, there are fears they will be forced to take their pensions even though many pension funds have been decimated over the last 18 months.
Amid moves by the UK government to increase equality in the workplace it would appear that the older workers in the UK are well down the list of needy groups. While even those who have their own private pensions will struggle, there are serious concerns for those left to fend for themselves on the state pension. It is common knowledge that the state pension has reduced in real terms over the last few years and the spending power of many pensioners across the country has been severely impacted.
As we approach the next general election we may see some short-term benefits and incentives for older workers and pensioners in the UK although once their votes have been counted these promises very often fail to materialise. Who will look after the older generation in the UK after the recession is over?
Share this..
Related stories
UK trade gap widens in April
The UK trade deficit for April increased from £7.259 billion in March to £7.279 billion in April although the figures were overshadowed somewhat by the volcanic ash saga which grounded planes for over a week. While the figures are slightly disappointing, in that many experts had expected imports to increase, these are probably figures we can discount because of the unknown entity which was the v...
Read MoreIs the UK building society sector ready for change?
The announcement that US buyout specialist JC Flowers is looking to take a 49% stake in Kent Reliance Building Society has certainly caught the attention of many investors and financial experts in the UK. The £50 million investment will see the company take a significant stake in the building society and indeed there is speculation that further deals of a similar nature are in the pipeline. But i...
Read MoreRetails Sales Growth In The UK Has Stalled
News that like for like retail sales growth in July fell by 0.9% was something which was not totally unexpected by the market. This latest fall is the fourth in the last five months and is a trend which is set to continue for the foreseeable future.
It is not just the affect of falling sales which is hitting the high street but also the increase in underlying costs. This double...
Is Barack Obama having second thoughts about his banking levy?
In his State of the Union speech Barack Obama has backtracked slightly on his recent banking levy revelation amid signs that the US government is becoming acutely aware that it may have gone too far. This move by the US government has prompted a recovery in worldwide stock markets with the banking sector bouncing after a difficult few days. So what does this mean for the future? In a similar sc...
Read MoreBarclays investors fear for the future
It has been revealed that a number of banking research analysts have expressed concern at the additional cost which Barclays bank has taken on to accommodate the Middle East multibillion pound refinancing. Initially there had been some cheer that the bank had organised the refinancing with such strong investment partners but the disclosure of the cost of raising the finance compared to the UK gove...
Read More