On Sun, 11 Feb 2018 19:59:37 +0000, Andrew wrote:

The increase in longevity that the ONS famously missed,
has made people buying annuities take the hit on the chin, 100%. But no
such correction has been made to public service pensions. Even the 2011
so-called reforms to public service pensions *excused* the baby-boomers
because they were within 10 years of retirement. The next gen will have
to retire at 65 and probably without the eye-watering lump sum, but
probably with a better accrual rate than 40/80th's.

75-80 more like! When the pension was first introduced, most people
(certainly the men) were lucky to live for 6 months after retiring. That
model is flat bust today, as will the country be unless drastic action is
taken bloody soon (it's probably already too late).


Free Lunches don't exist.

And never have, as the Milenials are finding out.





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