Mmastodon WorldPolitics first seen 8 h ago, last 8 h ago, peak #1
Cost of living crisis drives people to opt out of private pensions
Original: As more people opt out of private pension(s) due to the cost of living crisis, protecting the long-term plan behind the
More people are opting out of private pension contributions as the cost of living crisis squeezes household budgets, prompting warnings that long-term retirement security is being sacrificed for short-term survival. Commenters argue this makes protecting the triple lock on state pensions, and raising UK state provision towards European levels, more vital, since many will end up more dependent on the state pension in old age.
Why now: The squeeze on living costs is forcing people to cut pension contributions, renewing debate over state pension protections.
UK state pensiontriple lockprivate pensions
Evidence
- As more people opt out of private pension(s) due to the cost of living crisis, protecting the long-term plan behind the triple lock on state pensions to bring state provision up to the levels across Europe, is ever more vital!. If people are going to be *more* dependent on the… · ChrisMayLA6@mastodon.me.uk · 5
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