Pensions World held a roundtable on the future of retirement.
Jonathan Watts-Lay comments: People usually do not think through the impact
of longevity. They do not think about how much income they will need for that period of time.
Having to think about it is a relatively new phenomenon. As well as lacking the security of final
salary schemes which many were members of in the past, the double whammy is this big rise in life
expectancy. I remember the days when large companies could let staff retire at age 50, such as IBM
for example – that was a fantastic period! But today people will need to work longer to achieve the
standard of living they aspire to in retirement and they will have to save to achieve their
aspirations just as someone in their twenties or thirties will aspire to buying a fl at or a
house.
Please see the 'Rethinking Retirement' PDF attached.
