You have to raise the retirement age:
"'There are significant problems in our pensions system. There is a major demographic challenge,' said Lord Turner, head of the commission.
Work and Pensions Secretary John Hutton agreed reform is needed and said 'the broad framework' outlined by the commission would be used as the basis for a public debate in the coming months before the government decides how to proceed.
Funding state pension systems is becoming a problem for many industrial nations. Italy has raised the age for a full pension to 60 from 57, Belgium is boosting the earliest retirement age from 58 to 60, and German lawmakers have agreed the retirement age should rise from 65 to 67 between 2012 and 2035..."
What's one of the proposed British solutions? Making the pensions optional: "Employees would be able to opt out of the system, but the commission said a matching contribution by employers on 60 percent of a worker's payment would encourage most to stay in."
Posted by Chris Schrimpf
Comments
You say this like it's a bad thing. Allowing people to opt out is one of the two best solutions to the socialist insecurity nightmare. Raising the retirement age is an perfectly acceptable step towards a solution and it's even been done here in the US recently. But one of the worst things we could do would be to move to socialist insecurity equity funds. Why doesn't S4 just endorse opting out? The only reason I can see is that S4 is G.W. Bush's lapdog.
See:
http://weblog.secureourfuture.org/mt-tb.cgi/199
SS Equity Funds EQUAL Big Government Corruption!
S4 Sucks and Gives Change!
