Pensions
Phillip Coggan in the FT looks at how Britain can deal with its pensions problems (registration required).It's typically gloomy stuff. The falling numbers of workers per retiree means that regardless of our pension arrangements (funded v non-funded, state v private) something has to give. One suggestion, that Britons can save abroad, and thus have a claim on the fast-growing incomes of the Chinese (or whowever) is given short-shrift. Not only has it been found difficult to convert fast growth into decent investment returns, but the allocation would have to be so large to make a difference that it's unlikely many people would be willing to do it.
The only solution seems to be to work longer.
posted by Matthew @ 12/11/2004 06:44:00 PM
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