I think I must be out of touch.
I have only saved into my private pension a minimum of 5% of my net earnings since 1985 and this increased to 20% in the last 5 years. At the moment, I actually put my maximum allowance in.
In the last 2 years, I have taken an 8% pay cut on gross earnings which has grown to more than 12% on net earnings.
In all this time, my private pension pots have grown to offer me less than 7% of my net earnings in my retirement on the last bulletin.
Welcome to the world of the Private Sector.
I am so out of touch with reality in this little world that I actually got angry when Unison and its members voted to strike on 30 November about the injustice of Public workers' pensions being reduced (despite a revised, generous offer being made).
As I journey through the effects of austerity and watch my pension pot fluctuate by the day like a yo-yo, it surprises me that Public workers have the chin to question their lot. They have had actually had wage increases and they have pension schemes that make me weep with jealousy.
Tell you what, I'll take a swap. Come try my uncertain world for a while in which I will never be able to afford to retire and let's really see who is out of touch.
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