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What is the future for the state pension?

As money becomes ever tighter in the UK more and more people are looking towards their retirement and wondering if they will have sufficient income to maintain their current lifestyle. There is creeping concern regarding the state pension which has been falling in value in real terms for some time. So will you be able to depend upon the state pension to survive in your retirement?

Many pensions experts believe there is something of a pensions time-bomb waiting to go off in Europe as more and more countries see their budgets stretched to the limit. There has been an ongoing programme by European countries to "encourage" individuals to look towards private pension top-ups as it looks likely that the state pension which will continue to fall in value in real terms into the future. As populations grow in Europe there is a feeling that collective EU members will be forced to bail out weaker countries who are struggling to support their own state pensions, with Italy for example seen to have one of the largest pension funding problems going forward.

Therefore it is vital that you look towards your own pension arrangements as soon as possible and take professional advice to ensure you are able to provide for yourself in the future.

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