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.
Share this..
Related stories
Confusion in the UK workplace
UK unions are today on the case of the UK worker with news that employers are refusing to give U.K.-based workers priority over foreign staff in the engineering and construction industry. On one hand the unions are looking to protect U.K.-based workers while on the other, employers are concerned about their potential liabilities under the UK law.
Yet again we are seeing Gordon Brown...
Overtime payments reduced as recession bites
The TUC has revealed that the amount of overtime paid this year has fallen by £1 billion to £10 million in what many believe is a sign of the recession. However, this is not your stereotypical sign of a recession because the TUC believes that more and more people feel "obligated" to give up their own private time to their work - unpaid. While it is impossible to confirm or deny the TUC report...
Read MoreRoyal Bank of Scotland set to post better trading figures
This Friday will see first-quarter results from Royal Bank of Scotland which are expected to show a significant improvement in trading and profitability at the group. Despite the fact the group is expected to report a first-quarter loss of around £100 million this compares favourably to a loss of £1.9 billion for the whole of last year. At the same time we are likely to hear of better trading in...
Read MoreHow can you best put your savings to work?
As UK base rates continue to languish at 0.5%, with many experts believing they are unlikely to move higher in the short to medium term, the return on savings accounts at the moment is negligible for many people. So how best can you put your savings to work? While you need to find a balance between making your savings work and giving yourself something of a buffer in times of trouble, there may...
Read MoreAre you in danger of being hit by the big squeeze?
The financial press has picked up on one of our earlier stories regarding the "big squeeze" which has seen wage reductions in the UK as inflation rears its ugly head. There is no doubt that a reduction in spending power in real terms and an increase in the cost of living in the UK is going to push thousands upon thousands of people over the financial abyss. The so-called "big squeeze" is most cert...
Read More