According to a BBC report dated 14 April 2003, titled: "Government blamed for pension crisis":
"There is an estimated £27bn shortfall between what people have saved and what they expect to live on in retirement."
So since 2003, going by the BBC figures presented in posts 1 and 2, the UK pension deficit has ballooned by anything from 8 to 13 times!
Something appears to have gone ghastly wrong.
Will there be a State bailout of the private pension scheme?
Will the BoE do a massive QE to buy up the government bonds from the private pension funds in order to liquidate their pensions debt?
If this does happen...well then you saw it first here
