Pledge to Fast-Track Pensions Crisis

It almost looks as if the government has finally decided to court the votes of the young. There will be some other compelling reason for this latest move such as yet more dramatic cuts or pure spite but there’s no doubt that their popularity is about to have something of a boost. The cause of this is simply the fact that a different generation is about to get screwed over for a change. We’re a very spiteful people, call it the millennial bug if you will (many won’t).

For the longest time, the people of an age to contemplate retirement have had it far too good. The vast majority of them didn’t have to go off to war or have anything much to do with it. University was cheap to the point of them actually being paid to attend. Most gratingly, they were in a position to be able to afford property without having to sell a kidney for deposit money (I know this comes up a lot. I’m not apologising). So it’s clearly time and past they had a little hardship to deal with. I am not biased.

There’s going to be a pensions crisis. Of course there is. There’s an unemployment crisis, a skills shortage crisis and so many others related to the world of work the set absolutely had to be completed at some point. They’ll fast-track it just for the sake of getting it out of the way (that’s how finance works, right? Did I just expose a gaping hole in my ignorance? Oh well, c’est la vie).

How it will essentially work is as follows: all money for pensions will run out (thanks to those swanky final salary ones draining any and all public funding), old people will swarm back into work (you know, again) and wear themselves out. Once we’ve reached a more reasonable elder population there will magically be sufficient funds to support their outrageous lifestyles. I know we’re all looking forward to it.

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