UK state pension age will soon need to rise to 71, say experts
Research on life expectancy and birth rates shows that ill health makes status quo unsustainable
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Raising the age of retirement is just one of the couple of ways you can reach actuarial equilibrium. The other two are lowering the retirement benefits, or raising the contributions, by the participants or by the sponsor. Everyone of those methods os as useful as the others, but the last one requires taxing, this is why you never listen to politicians talking about how thats an alternative. Tax the rich as they should be, and this is a solved problem.
Why not force corporations to fill in the gaps? People used to have pensions from their jobs, but those got gobbled up by greedy executives. Surely we can capture some of that back to provide for millions of elderly people.
That's the tax part I'm talking about.
Gotcha
National insurance is supposed to be for our state pension but it's only paid on earned income. I have no idea but I wonder how much it would raise if it was paid on all income?
