25 October 2005
Government failing to prevent pensions crisis – Barrett
John Barrett, Liberal Democrat MP for Edinburgh West, today slammed the Government over new figures showing that over half of the working age population across Edinburgh (56%) are now relying on their partners or the state to provide for them in retirement.
New figures indicate that across Edinburgh, 164,000 people are making no occupational or personal pension contributions. This is an increase on the same figure in 1997 when Labour came to power.
John Barrett said:
“Every week, I meet constituents who have worked all their lives who do not know what will happen to them when they retire.
" This level of under-saving could prove very significant in future years as people become aware of how much they have to survive on in their retirement. Survey after survey shows that people overestimate the level of income they will have in retirement and underestimate how long they will live for.
“What is most disturbing is that the trend is worsening and the Government, rather than tackle the challenge face on are making things worse.
“The Government have said they are waiting for the Pension Commission to report at the end of November. But come December they must join the growing consensus that the only long term solution is a Citizen’s Pension uprated in line with earnings and set at a level which would put an end to the degrading means-testing of the current system.”
The figures adapt working age population figures from the Office of National Statistics from December 2004 to estimate the level of under-saving at a constituency level.
Opportunity for All is available at:
|parliamentary constituency 2005 revision||working age men||working age women||all of working age|
|total number||number not saving in non-state pension||total number||number not saving in non-state pension||total number||number not saving in non-state pension|
|Edinburgh East BC||25,400||13,208||28,400||17,040||53,800||30,248|
|Edinburgh North and Leith BC||33,100||17,212||32,900||19,740||66,000||36,952|
|Edinburgh South BC||30,000||15,600||27,400||16,440||57,400||32,040|
|Edinburgh South West BC||31,700||16,484||27,500||16,500||59,200||32,984|
|Edinburgh West BC||28,500||14,820||28,700||17,220||57,200||32,040|
Click on a keyword to find other pages with the same keyword.