The Government telling over 50s to work as takeaway riders will not help their pensions shortfall 🖋️ If people are forced into low-paid jobs with no pension provision they will be heading for a bleak retirement, writes stevewebb1
The Government’s own figures show around 12 million people of working age are currently “under-saving” – not setting aside enough for a decent retirement. For many people it is the later years of working life which are crucial to building up a decent pension, and if people are forced into low-paid jobs with little or no pension provision they will be heading for a pretty bleak financial future inMr Stride was keen to promote something called a “mid-life MOT”.
Similarly, the mid-life MOT can give us chance to review our finances and look at what we can expect to have in retirement from a combination of state and private pensions. For many of us this would be a wake-up call to encourage us to set more aside for our retirement if we don’t want to be forced to work into our late sixties and beyond simply to fund a decent retirement.
However, we need to avoid a situation where the only outcome of such a review is to be forced to take up potentially unsuitable jobs because they are all that is available. In particular,. For example, although there are some firms who offer “later life apprenticeships”, most of the money spent on training still goes to young people.
If we are serious about harnessing the skills of the over fifties, we need to make sure they have the opportunity to retrain and find fulfilling second and third careers rather than be forced to take the only jobs that are available.
Brasil Últimas Notícias, Brasil Manchetes
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