Interesting article. Four categories of pensioner and increasing inequality: public sector workers with secure pensions; defined benefit private pensions now closed; defined contribution pensioners, who bear the investment and longevity risk; and poorly paid people dependent on the state pension.
Why are DB pensions still in operation nowadays? Surely something needs to be done to equalise what the DBers have with what the DC folk have; or is that what the article is trying to say! I don’t understand pensions, apart knowing that as someone who has a DC, I feel shafted compared to DBers!
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