We approach retirement ill-prepared and resigned - EXPRESS COMMENT
GETTY Many people expect to get part-time work after retirement to fund their lifestyle
A survey commissioned by The People’s Pension group reflects uncertainty and a resigned acceptance that many expect to carry on working into their late 60s and 70s. A few look forward to an inheritance and others pin their hopes on selling up and downsizing in order to stay solvent. The habit of simply saving money has been eroded and in any case, interest rates are so low there is little incentive.
The concept of ‘carriage clock’ retirement is consigned to history Darren Philp
Due to rises in the state pension age many are unsure at what age they qualify and have no idea how much they will get. As Darren Philp of The People’s Pension says: “The concept of ‘carriage clock’ retirement, whereby people completely stop work and rely on their pension savings, is consigned to history.” For many, thinking about their future finances is so alarming that it is easier to put off the evil hour as long as possible.
For others there is no regret at having to carry on working well past retirement age. If you are healthy and enjoy what you do then it is no hardship. But there are some absolutes in this fog of uncertainty. Taking out a private pension makes a huge difference to one’s income later in life. And we have to take responsibility for ourselves to a far greater extent. Ignoring the issue is no solution.
GETTY China will punish North Korea economically
China supporting the UN China is to observe sanctions imposed on North Korea by the United Nations. It will stop importing coal, iron ore, seafood and other items in early September. In international crises of this kind one looks for small reasons for optimism and this is one.
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For the moment China is behaving sensibly. It is punishing North Korea economically while refusing to express support for the bellicose Trump. It does not seem inclined to exacerbate the war of words. South Korea has expressed its desire for a diplomatic solution. President Moon Jae-in has said “there must not be another war on the Korean peninsula”. And that is something with which we would all agree.
GETTY Len Goodman has said he does not plan to retire