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MyCompanyPension.co.uk - Helping members of occupational pension schemes to better understand their benefits.
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:: Blog | April 2009 (9 blogs) | Pensions: stuck between a rock and a hard place?
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Pensions: stuck between a rock and a hard place?
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We’ve recently become quite used to hearing about the effects of increased life expectancy on our pension systems. Defined benefit scheme costs have rocketed as a result, and for money purchase schemes annuity rates generally reflect the greater ages we’re predicted to be going to enjoy.
However, this article discusses a broader picture about population in general and opens up with a stark comment from David Attenborough who says: "There are three times as many people in the world as when I started making television programmes only a mere 56 years ago. It is frightening. We can't go on as we have been. We are seeing the consequences in terms of ecology, atmospheric pollution and in terms of the space and food production."
Yet the feature then considers what happens when the birthrate is low: ‘…dependency ratios scupper the welfare system; pensions have crises; longevity can't be paid for.’ The article doesn’t give out any answers, rather than it concludes that in terms of financing such things as future retirement provision, we’re stuck between a rock and a hard place. Well worth a read. See:
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Mike Jones, MyCompanyPension.co.uk Ltd, April 15th 2009
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