Posts

Showing posts with the label old age pension

On This Day

1st August 1907 - Robert Baden-Powell opened the first experimental Scout camp on Brownsea Island. 20 scouts attended. 1908 - Lloyd George introduced the Old Age Pensions Act that provided between 1s. and 5s. a week to people over seventy. These pensions were only paid to citizens on incomes that were not over 12s.

Interesting Fact - Work

According to a survey by Barings Asset Management, one in ten Brits fear they will be forced to work till they drop. (Retirement will be a luxury as most people simply won't be able to afford to stop working.  I can imagine cozy deals between bosses and funeral services to pick up our rotting bodies.)

Interesting Fact - Money

State pensions in the UK currently cost the tax payer £74bn a year. (What's worse is the pension hole just keeps getting bigger; it will cost an estimated extra £4bn in 2013 as baby boomers reach retirement age. I doubt I'll ever be able or be allowed to retire.)