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Daily Express - the state pension

ended 24. November 2021

With many analysts confirming the state pension is not enough to live on for the average pensioner, the Daily Express is looking for exclusive commentary on how much the state pension should be or how much it needs to increase by to adequately support British retirees? Keep your answers to a paragraph or two max!

2 responses from the Newspage community

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Daniel Wiltshire
Actuary & IFA at Wiltshire Wealth
It may seem obvious, but most people cannot rely on the State Pension for a comfortable retirement. Analysis by the Pensions and Lifetime Savings Association suggests that the State Pension would roughly need to double to provide a 'moderate' living standard. The hard truth is that people need to take personal responsibility for their retirement plans or face a bleak future in old age.
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Joshua Gerstler
Chartered Financial Planner at The Orchard Practice
"The State Pension is not enough to live on and have a comfortable retirement. But is it the states responsibility to provide this? Those that are able to earn and work during their working lives have a responsibility to provide for themselves in their old age. Auto enrolment has gone some way to ensuring everybody has a personal pension. We need to go further and ensure everyone is putting enough aside to be able to have a comfortable retirement when the time comes."