Women have barely half the pension savings of men, according to a new TUC-sponsored report published on 1 March. The study, carried out by the Pensions Policy Institute, shows that women have, on average, £7,500 in savings in defined contribution schemes, compared to £14,500 for men.
Has George Osborne completely forgotten the banking crisis, or has it just slipped his mind? In an interview on Radio 4 this morning he spoke of his excitement at the new products the financial services industry may invent to sell to people who will soon get access to their pension pots.
The hundreds of thousands of public sector workers who joined marches, pickets lines and rallies across England and Wales on 10 July have cast into sharp relief the attitudes of those who would divide us, those who cannot see past their own narrow interests and those who have – to varying degrees – an awareness of the qualities of interrelation, solidarity and the common good which are integral to the civilised functioning of complex modern societies.
The budget announced by UK chancellor George Osborne has been widely reported as appealing to pensioners and savers. Some measures, such as pensioner bonds, will indeed help sizeable numbers of older people. Yet for many people over retirement age, it is will not be good news overall.