When the state retirement pension was introduced in the UK almost exactly a hundred years ago, it was paid to people over 70 years of age. Life expectancy was 71.5 years. More recently, the pension has been paid at 60 for women and 65 for men, and average life expectancy is about 80. The cost has been compounded by those working in the public sector receiving occupational pensions as well, but what's often overlooked is that the employees have contributed to them.
With what amounts to something ...
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