According to research by the Institute for Fiscal Studies, people born in the 1960’s and 70’s will retire poorer than their parents, having earned a lower wage, with no savings, in a home they don’t own, and with a smaller private pension. After unpicking the fabric of the Post War Welfare State that brought unbroken social progress for decades, the UK is reaping the whirlwind.
The findings from the Institute for Fiscal Studies conclude that those born in the 60’s and 70’s ‘are facing a triple whammy of meagre pay rises, inadequate pensions and soaring property prices’. All of which means that they will have less financial security in their old age, than their parents or those born in the decades before them.
There is a very simple reason for that.
Rather than extending the benefits, rights and freedoms won by UK citizens in the post WWII period, subsequent generations sold them away instead.
cont'd
www.scriptonitedaily.com/2013/12/17/uk-moving-backwards-half-a-century-of-social-progress-reversed-in-last-decade/
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UK Moving Backwards: Half a Century of Social Progress Reversed in Last Decade
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ttosca · 17/12/2013 14:07
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