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 Employees across the world are growing increasingly pessimistic that they will have a financially secure retirement despite a backdrop of global economic recovery and rising capital markets. There is also a widely-held belief that governments and employers are not doing enough to ensure retirement security. Britain's pensions crisis has been described as a great a threat to society as terrorism or global warming and like other Western economies, it is something that could affect the shape of the economy for decades. But with public trust in both public and private pension provision disappearing, what can societies do to sort this issue out before it is to late? USEFUL LINKS |
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Essential ReadingDon't make the retirement mistakes we did, boomers say
Nearly three quarters of older Americans wish they had started saving for their retirement earlier and almost all worry that today's generation of workers has not started saving early enough.
Workers shun pensions for retirement saving
Workers are increasingly putting their retirement savings into a much broader range of financial products and second homes, rather than relying on a pension to fund their twilight years.
Baby boomers look to a working retirement
More and more Americans are working in their retirement or are planning a new retirement career - a phenomenon that it seems most employers have yet to pick up on.
Seven out of 10 fear retirement poverty
Seven out of 10 people aged more than 45 in the U.S and UK are worried about not having enough money to fund their retirement, a new survey has suggested.
Pensions crisis 'as great a threat as terrorism'
Britain’s pensions crisis is as great a threat to society as terrorism or global warming, the Shadow Work and Pensions Secretary, has warned, and could affect the shape of the British economy for decades.
Compulsory pension saving 'won't work'
The high cost of housing in the UK means that the idea of forcing employees to contribute to a pension is a financial non-starter, according to figures released this week.
Retirement tops Americans' list of worries
When Americans look forward, they see a future fraught with peril. But while they are worried about terrorism, their families and their health, their biggest fear is that despite their best efforts, they won't have enough money to retire on.
Work becoming the new retirement
With the Baby Boomer generation ageing and young people becoming an increasingly rare commodity in the workforce, work is becoming the new retirement for many Americans.
Latest on PensionsPhased retirement staves off talent exodusFaced with the mass exodus of baby-boomers, American employers are increasingly turning to phased retirement programs to keep workers on board for as long as possible.
Pensions on the decline as a top-level perkRising costs are encouraging employers to look at alternatives to gold-plated pensions when it comes to attracting and retaining senior executives.
Downturn hits the U.S. eliteEven wealthy Americans are being hit by the downturn, with the country's elite becoming increasingly concerned about their financial health and their retirement prospects.
Americans raiding pensions to make ends meetMore evidence has emerged that Americans are storing up financial problems for the future, with a quarter raiding their pension pots just to make ends meet.
Gen X faces retirement perfect stormFewer than a third of Generation X are confident they will ever be able to retire and stop work completely, with most worried about supporting aging relatives and debt-laden children.
Recession could lead to retirement catastropheThe looming recession is forcing Americans to put their retirement saving on hold, raising the prospect of a pensions' catastrophe in decades to come.
U.S retirement crisis just got worseWhen times are hard it's all too easy for retirement saving to drop down the priority list - which is exactly what is happening in America.
Fifth of UK workers forced to retire earlyA fifth of British workers complain they have been pressured by their managers to take early retirement when they would much rather have carried on working.
Retirement woes go globalAcross the industrialized world, hundreds of millions of Baby Boomers who are approaching retirement are growing increasingly concerned about their financial security.
Rid us of this pensions millstone, say UK firmsBritish companies are not just closing their final salary pension schemes to new employees. Many now want what has become a financial millstone off their balance sheets all together.
Pensions double whammy for British workersBad management of defined contribution pensions by British employers risks leaving workers 70 per cent worse off in retirement than they should be.
Third of boomers face penniless retirementAlmost a third of American baby boomers face a poverty-stricken retirement because they have not squirreled away enough money to finance their twilight years.
Pensions black hole keeps getting deeperLonger life expectancy is not just making retirement more expensive, it is hiking up the price of pensions and insurance for employers - many of whom have cut their losses and run.
Ten percent no longer enoughThe idea that if you save 10 per cent of your income during your working life you'll have plenty in the pot for a comfortable retirement is no longer true, experts are warning.
Older, fitter, indispensableFar from being a drain on society, older people across the world are making huge contributors to the economic and cultural wellbeing of their nations, with more than one in 10 now working into their 70s.
Boomers face retirement shockSome 80 million baby-boomers are poised to retire across America over the next few years – and the vast majority are completely unprepared for the transition.
UK workers face retirement income squeezeBritish workers are continuing to sleepwalk into a poverty-struck retirement, with most likely to see their incomes slashed in half when they stop work.
Small business employees lose out on benefitsWorkers in smaller businesses in America are not only less likely to have access to health care benefits, but also left high and dry when it comes to company pensions.
Longer life expectancy adding billions to pensions billIt's self-evidently good news that people are living longer. But every extra year added to the life expectancy of the average British worker adds another £15 billion to the private sector's pension bill.
Employers plan hard sell to buck retirement saving apathyAs many Americans drift towards a penniless retirement, increasingly worried employers are resorting to "hard sell" tactics to talk up the benefits of joining a company pension scheme.
Retirement woes mount for middle-income AmericansA comfortable retirement could becoming a luxury only wealthy Americans will be able to afford, as a growing number of middle income earners believe it is impossible to meet today's bills and save for retirement at the same time.
Americans still deluding themselves over cost of retiringAmericans may be getting better at saving for their old age, but many are going to find themselves in a financial squeeze as their retirement costs climb far higher than they anticipated.
US managers offering woeful lead on pensionsAmerican bosses are adopting a "do as I say, not as I do" approach when it comes to persuading workers to sign up to company pensions, transparently failing to put their own money where they are asking workers to put theirs.
Worried about what your pension will pay? Then look away now.Pension pay-outs for British workers have fallen by more than three quarters over the past decade, in a clear sign that the crisis facing today's workers when they reach retirement age is set to get worse.
Fifth of Americans in denial over retirementMore than a fifth of American workers admit that they have done absolutely nothing to plan for their retirement, with most waiting until they are at least in their mid-thirties before reality starts to sink in.
US firms having to work hard to get people to sign up for pensionsThe stubborn reluctance – or inability - of many Americans to put enough money aside for their retirement is forcing more employers to cajole and encourage workers into joining their company pension plans.
Pension fund deficits plummetThe pension fund deficits of Britain's largest 100 companies have fallen by £20.5 billion over the past year, the largest annual reduction in deficit since 2002.
Final-salary pensions extinct in five yearsFinal-salary pensions are becoming an increasingly rare benefit in British workplaces and could be all-but extinct in the private sector within five years, specialists have predicted.
UK companies most worried about pension deficitsWhile companies across the globe are concerned that their pension plans pose a financial risk, a new report has found that organisations in the UK are the most worried about the possible impact of their pension deficits.
More pensions uncertainty on way for British workersThe number of British companies offering lucrative final salary pensions to new employees has fallen dramatically over the past four years and there is more uncertainty on the way.
Earlier Pensions Stories . . .
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