The coalition government’s proposed changes to public service pension schemes will affect over 3.7 million women. We worked with our client, UNISON to create this infographic showing some of the key facts and details the impact that this will have.
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Forgive my naive question, but if my dad expected to retire at 65 with a £50,000 pension fund and live til he was 70, that would leave him with £10k a year to live on. If I expect to retire at 65 and live til I am 85, I am going to need a £200,000 pension fund to sustain my £10k a year. Assuming we both put in the same money a month and work the same number of years, who is going to give me the extra £150k I need to live on? Perhaps I should consider retiring later and put substantially more money aside each month?
Hi Gordon
A good question. I’m sure we’d all agree that our potential pensions, wherever they are, are not going to be what our parents or grandparents enjoyed. This infographic aims to show the impact on women in particular, bearing in mind they make up a huge part of public services employees particularly those on lower pay scales. If you’d like to know more about UNISON’s campaign, it’s worth having a look at their website: http://www.unison.org.uk/pensions/
Charlotte