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Retirement should become a thing of the past

In the future, it looks like we are all going to be working for longer – or having to save far bigger chunks of our earnings if we want to maintain our lifestyles after we stop working. Generous public sector pensions are looking increasingly unaffordable, and even basic state pensions are beginning to be seen as an unaffordable drain on the public purse. Perhaps those currently in middle age will be the last generation to enjoy retirement as we know it today.

But should we mourn the fact that younger people will not only miss out on the gentle sunset years of golfing holidays and tai chi, but will have to work doubly hard to pay the taxes that give those with the right entitlements all that luxury?