Thursday, 10 March 2011

Pensions - are there lessons from other Countries

Meeting the pensions gap - both for public and private sector workers is one of the thorniest issues that my generation faces. The UK is not alone in this - its a huge debate in many countries.

Whilst I don't want Brussels setting minimum pensions ages, I wonder if there are ideas that we in the UK could borrow from other countries?

For example, I understand that in the Netherlands it is possible to go on a public website - enter ones own personal details (e.g. National Insurance number). It is obviously password protected. The website then pulls up a set of personal information that shows ones individual pension proposition - collating that persons pension benefits from state, employer and private savings all in one simple format, allowing the individual to predict what they may get in retirement and reconsider their own saving strategy. I'm told Sweden has a similar scheme.

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