For a better perspective, people should go back a little further and look at some more pensions history.
For example, when the state pension was first introduced, it was payable from age 70 and means-tested.
Productivity is increasing exponentially.
We have 25%+ of our current potential workforce either unemployed, in make-work education, in low hour part-time work, long term fake-sick, or doing make-work non-jobs. And with all of that the population generally still have decent quality life-styles.
So what the heck do we need more people working longer for?
The problem is one of a disconnect between our monetary and economic systems, nothing else. Going on the basis true economic production and productivity we should be decreasing retirement ages.
This post has been edited by alexw: 15 March 2012 - 03:50 PM