Don't worry, be happy in retirement

Article Abstract:

Organization of time is the crucial element in preparing for retirement so that workers, on becoming retired, do not experience an emotional let-down or find themselves unprepared financially. During their productive work days, workers should develop a sense of purpose, personal satisfaction, societal involvement, and financial security when preparing for the transition from work to retirement. Financial planning should be predicated on seeking inflation-proof investments characterized by: immediate returns; accessibility; and long-term security. Suitable UK investments are high interest rate bank accounts, National Savings accounts, and insurance company income plans. For workers to receive state pensions, they must have worked 90% of working life in UK between the ages of 16 and 60/65, with five blank years allowed.

Analysis, Finance, Financial planning, Retirement

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Private solutions to a public problem

Article Abstract:

Great Britain's changing demographic structure and the government's efforts to liberalize labor markets are forcing the government to reevaluate the public pension scheme. The aging of the general British population has increased the cost of the State Earnings Related Pensions Scheme (SERPS) and forced the government to offer incentives for people to drop SERPS and provide their own pensions. The liberalization of the labor market has also increased pension programs to include money purchase personal pension plans and industry-wide pension schemes. The balance of opinion seems to favor money purchase arrangements and contracting out for younger people who will benefit from the government's incentives.

Management, Civil service pensions

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