British pensions

I recall reading an article in the Financial Times in the late 1980’s about state pensions. The state pension was unsustainable in its current form and it called the system a ticking time bomb likely to explode by the mid 2020’s. Whilst all political parties knew this no government would tackle it as it Was seen as political suicide. Fast forward to 2010-2020 and in my opinion the reforms to personal pensions and introduction of the workplace pension as gone some wayto reducing future generations reliance on the state. Some of my younger employees (in their 30’s) will easily be able to consider retiring in their mid to late 50’s.

 

Why is it the British Pension is unsustainable but yet Many EU countries who pay more and can retire earlier seem to manage? You can quote what’s going on in France but even if they push that increase through, it’s still 3 or 4 years earlier than ours. You say reliance on state, most people have paid in all of their working lives, it’s not a benefit

 

I think it's to do with our economy being one of the least productive in Europe. Something made it get significantly worse recently which only shortens the pension timebomb fuse.

 

It's not my area but I spoke to the boss of a train company about 10 years ago - he said that he doesn't run a train company, he manages a pension liability and plays with trains on the side.