Re Public Sector strikes. Many private sector workers have no sympathy for, say, civil servants, and their guaranteed pensions at the early age of 60. British workers earn an average of about £25,000 a year, but the basic state pension is £5,312 a year for a single person. Those workers at your local supermarket for example, earn less than £25,000 (maybe, on minimum wage, around £13,000 pa) and no wherewithall to pay into a private scheme. OK, they should have planned earlier for their old age. How? When there is no money left over?
But, many who will be caught in the poverty trap of only a State Pension are those who maybe only could work part-time, possibly carers, the single are hit very hard. This is what needs to be addressed, ordinary working folk who had no comprehension as to how interest rates, bankers, and the rich and greedy may impact on their old age. OK, call them stupid, but if you don't have the spare dosh to buy annuities, what do you do? How do we care for these elderly people?
But, many who will be caught in the poverty trap of only a State Pension are those who maybe only could work part-time, possibly carers, the single are hit very hard. This is what needs to be addressed, ordinary working folk who had no comprehension as to how interest rates, bankers, and the rich and greedy may impact on their old age. OK, call them stupid, but if you don't have the spare dosh to buy annuities, what do you do? How do we care for these elderly people?
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