Redwood: Paying for old age

The UK has spent the last few days discussing how to pay for retirement and old age.

It has been a strange debate. When it came to discussing pensions it has been dominated by thoughts of how to curb the costs of future pensions. When it came to discussing who pays for care for elderly people needing to spend their ebbing days in a home, the debate has been about how much extra contribution the state could and should make towards paying the bills. The pensions world has become sharply divided in the UK in recent years. The days when most private sector workers could look forward to a final salary-based pension when they retired are long gone. Most companies with final sa...