Socialist Worker

Private sector workers told to ‘expect a bleak old age’

Issue No. 2263

A report released last Sunday shows that nearly three-quarters of people working in the private sector will be unable to “adequately exist” when they retire.

It found that 14 million workers will retire with pensions much smaller than those of their parents.

The report, written by former Treasury select committee chair Lord McFall, said many workers retiring after 2020 should expect a “bleak old age”.

The government says that greedy public sector workers are the problem.

But this report shows that, in reality, the Tories want all workers to pay more and get less back in return.

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