Tuesday, June 07, 2016
Retirement is getting harder and harder. OECD paints a grim picture for Europe's 50+
The Organisation for Economic Co-operation and Development has pre-released the findings of some research that it will publish later in the week.
It shows that someone buying an annuity today who saved 10% of their wages in a pension for 40 years will qualify for just half the retirement income of someone who retired with the same amount 15 years ago.
I think the graph says it all. Guess the good thing is that most people are blissfully unaware of the implications and even if they were there is nothing much they can do about them.
Let's hope there are going to be the jobs available and the suitable workplaces for all the 70+ workers who will need to be in the workforce. I have my doubts. Dick Stroud