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Developments:
I spent last Saturday in Belfast, facilitating part of the National Pensions Debate for the UK Department of Work and Pensions. Over 1,000 people gave their views on the future of pensions in six cities across the UK. Participants discussed the National Pension Commission's proposals to raise the retirement age, spend a higher proportion of tax revenues on pensions, and encourage employers and employees to contribute to a national pensions savings scheme. Interestingly, participants on my table would prefer to pay more taxes than work more years: it seems the government has yet to convince people that longer life expectancy makes a rise in the retirement age not just economically sane but also, relative to shorter-lived previous generations, fair.
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