 | Ämne: New Blog Post: The End Is Nigh...for Pensions That Is! ********************************************************Gold Webinar tonight at 8pm GMT with Jimmy Larsen
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Due to the current global economic crisis the subject of pensions and savings on a whole, have been in and out of the media on a consistent basis, and with the talks of inflation and whether the Bank of England is going to increase interest rates again and the consequences of that, the consensus is that the idea and structure of a pension and with it the signification of retirement is no longer viable in the 21st Century.
What is a pension?
A pension is a form of long term saving to provide individuals with an income when they are no longer earning a regular income after employment; otherwise known as retirement.
Here in the UK, pensions first came into existence in 1670 for Royal Navy Officiers but it was in 1946 that the National Insurance Act, or pensions as we know it, was introduced providing a State pension for all, with payments being received from age 65 for men and 60 for women, effective from 1948.
At that time the life expectancy of individuals were low, unlike now in 21st century people are living longer due to the various advancements in medical technology and other factors.
The pension is nearly 62 years old, and like most things man-made, i.e fait currencies, it has an expiry date, and that date seems to be just around the corner for many here in the UK and other parts of the world.
To read the rest of the blog post please click on the link - http://www.facebook.com/l/95d0b8BNWzqbKTnJBFp1x6fCbeg;bit.ly/g5dcac
All comments, thoughts and opinions are welcomed!
Thanks in advance as well as for your continued interest in Becoming Financially Savvy!
Lavinia Osbourne
http://www.facebook.com/l/95d0b3HJXuLuuu9cpbqUAKYLjJg;ButterflyWealthCreation.com
M: 07733055416
Skype: MsInternational76 |
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