End of the Line for Silver Surfers?
Following yesterday’s BeeLine veteran BeeLiner Roy (Hawkeye) Pearce informs me that a recent YouGov poll has found that rising gas and electricity bills are putting people off retirement and even forcing retired people to return to work.
If this poll is right then maybe up to 64% of the people at retirement age are deliberately not retiring with a third of them saying it is for financial reasons.
Roy also pointed me in the direction of a number of recent quotes by the former Shadow Chancellor Michael Portillo on the subject. This is what he is quoted as saying:
"Electricity, gas and bills that many people in work do not have to think about loom very large for the retired person,"
"The combined impact of the rising cost of living, rising inflation, fears of recession and the constant media coverage of the credit crisis has created insecurity for a huge number of people approaching retirement and concerned about their financial future.
"Given that so many people are aware that they will face financial difficulties in retirement, more and more people are staying on at work, or returning to work to help ease the financial pressures they face ahead."
Which all served to remind me of a Pension Conversation cartoon strip that I put together on this very subject at the turn of the year. The strip, which is reproduced here for your amusement, was based on a real conversation that took place, as you’ll see from the drawings, in the drab depths of our winter and maybe my mood at the time picked up on that. Who knows? Maybe I’m just miserable sometimes.
That cartoon story was entitled “Pensioner Inflation!”
17 June 2008
Telegraph - 'Food and fuel bills force workers to delay retirement, survey claims' dated 16 July 2008
Pension Conversations is published weekly in Pensions Week.
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