Savings

What about people's savings and pensions?

Bank of England
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Bank of England

A serious issue has been raised by a Business Live reader who asked to remain anonymous.

What about pensions and savings and the impact on our personal future, he asks.

"I’m four and a bit years from the official retirement age but the last couple of weeks have seen the value of my personal pensions and retirement savings encouraged by successive Governments as provision for old age return to levels of 30+ (YES 30) years ago!

"Allowing for inflation I’m probably now little better off than I was in my early 20s.

"There's lots of talk of Government support for business, self-employed and just about any other group one can think of. But what of those like me that have paid our bills, avoided debt or borrowing and ‘gone without’ over the years in order to save for our retirement only to be rewarded by the loss of those savings at a time when we have neither the time nor resource to replace the loss?

"Where is the support for our group? Or are we to face the humiliation of living in relative poverty perhaps unable to afford the upkeep of our homes or the basics of life?"

Some crucial points there. Where do other readers think. Please send in your comments to bizlivepage@bbc.co.uk

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