The Pension Crisis continues in 2013 in fact for those yet to take action it will only get worse! The pension crisis has already adversely affected millions of people across the UK, 56% of the population has no pension provision at all.
People are fed up with poor returns and high fees but are unsure how how to solve the problem.
The pension crisis 2013 will hopefully be the year when it finally dawns on people that unless they must take action.
A report by the Institute for Fiscal Studies (IFS) and the National Association of Pension Funds (NAPF) found that a third of people aged between 52 and 64 have no idea what their workplace pension income will be in retirement.
It also found that six in ten people over the age of 50 who are still in work have not yet thought about how many years of retirement they might need to finance.
Why the pension crisis 2013 is here to stay
Life expectancy has increased dramatically since the State Retirement Pension was set up almost one hundred years ago. Many people nowadays still expect to retire at 65 and live for a good number of years beyond that. This is unsustainable and the state pension, as pathetic as it is, cannot be maintained in its current form.
Unfortunately for the people who rely on a pension as their only retirement strategy, their investments are producing awful results and inflation is reducing returns still further.
Greedy Pension Companies
Even with the poor returns, one thing you can be sure of is that the pension companies won’t forget to take their huge fees, further eroding your chances of a financially secure retirement.
How to beat the 2013 pension crisis.
The first step to beating the beating the pension is crisis is to educate yourself, read up on the pension crisis and understand how it will affect you.
Then decide what action you are going to take. We believe in property investment as a solution, if you want to explore that avenue contact us now.