Lack of empathy shows

In Britain, more than two million women born in the Fifties face having to work an extra six years before retiring after changes to their retirement age. Governments faced with decades of lack of planning and understanding of the issues facing them as Boomers get older are making bad decisions.  Many of our governments have a short term horizon, and they only see until the next election or not even that far. 

The recent changes in Britain have caused many problems and when asked about the fact many women will have to work an extra six years, a  Minister of the Crown said: “The reality is over 200,000 people over 60 have entered further education since 2014/15.

“We have also extended apprenticeship opportunities as one of the best routes to skilled employment for people of all ages and gender.”

The comments in a heated Westminster Hall debate triggered shouts of “Shame on You” from Labour and SNP MPs.

Campaigners slated the government for trying to push “Grannyships”.

Taking to social media, One woman wrote: “I’m 62, can I be a bricklayer?”

An outraged Old Age Pensioner added: ‘Perhaps I could have an apprenticeship as a hairdresser in a modern salon at the age of 64? I don’t think so.”

The Waspi Women – Women Against State Pension Inequality – want transitional arrangements put in place to help them after seeing their pension age rise from 60 to 66.

The increase follows two changes to the retirement age, one in 1995 and the other during the Coalition.  In my mind, the issue is not the change, but the speed of the change. 

Research shows that people do not start to plan for retirement until they are in their early to mid-fifties, and if the rules change without adequate warning then people become angry and stressed. The changes in  Britain were done to save money and without consultation or warning. 

As Boomers age around the world, there may be more of these dumb decisions by governments as they try to come to grips with decades of no or poor planning. As individuals, it becomes important to understand that the government will not be there for us when we retire, and we need to start our own planning and saving. The sooner the better.