The age at which people in the UK can access the state pension keeps rising. Economists say it is inevitable that young people entering the workforce now will need to keep working into their 70s to start tapping the social safety net.
Every time the pension age inches upwards, more people find themselves stranded if they are unable to work because of sickness or disability but too young to receive government help. With life expectancy in Britain no longer growing across the board, many people, especially in disadvantaged communities, may die long before they can start accessing the fund. And some of those who do reach pension age might find their government payments help them to survive the golden years, but leave little room to enjoy them.
Everyone agrees the system needs major reform. So why is changing it so hard? The answer, Guardian columnist Polly Toynbee explains to Michael Safi, is a political system that favours wealthier, older voters over the interests of poorer and younger ones.
Private pension schemes are billed as a solution to pressure on the state pension. But millions of Britons are leaving money on the table. If you are in a full-time job â and even if you are not â there are a handful of small things you can do that could boost your private pension savings by thousands of pounds over the next decades. The deputy editor of the Guardianâs money section, Rupert Jones, shares his advice.
Photograph: Joe Giddens/PA
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