Peter Fleming, Professor of Business and Society at City University of London, publishes today an opinion article in which he states that only wealthy people will be able to retire in future. The article discusses some of the consequences such scenario would have in society, especially concerning health and personal welfare of all of us in future. This is very much in line with the austerity policies that have been adopted in the last years, and consequences would be devastating in terms of health and personal welfare, even negative from a business point of view. But the important point for me in this article is that Fleming departs from this scary vision to pose the idea that “the important thing to remember […] is that none of this is as ‘inevitable’ as the politicians would have us think”. The author suggests that this is an ideological issue, that there is money for the NHS and pensions, but that this is being placed anywhere else.
Have you ever thought which the impact on society would be if the pensions scheme would collapse? Isn’t it a reality that, at present, there are already many people who can’t retire or do it with very negative consequences?