‘The tragedy of old age is not that one is old, but that one is young’

WITH THE UK’S POPULATION AGEING, MORE PEOPLE WILL BE LIVING WITH LONG-TERM CARE NEEDS. OSCAR WILDE ONCE SAID: ‘THE TRAGEDY OF OLD AGE IS NOT THAT ONE IS OLD, BUT THAT ONE IS YOUNG.’ BUT THE GOOD NEWS OF RISING LIFE EXPECTANCY ALSO BRINGS WITH IT THE CHALLENGE OF HOW WE FUND OUR FUTURE CARE COSTS. THE QUESTION IS: WHO IS RESPONSIBLE FOR OOKING AFTER US IF WE NEED CARE IN OLD AGE?

Pension time bomb

Planning to prevent the financial equivalent of climate change

Millions of workers across the UK could be heading for a significant shortfall in the amount of pension they need for an adequate income. The World Economic Forum (WEF) has issued a warning that calls on the Government to impose faster pension-age rises as it earmarks the UK as one of several countries facing a ‘pension time bomb’, with the UK pension savings gap reaching £25 trillion by 2050 if action is not taken soon.