Today’s cost of saving crisis…tomorrow’s cost of living crisis?

In economics, we’ve become well accustomed to the word crisis over the past 10 years. We’ve had the banking crisis and the government debt crisis, to name a couple. Two years ago, we also became familiar with the oft-quoted ‘cost of living crisis’, when food and other prices were rising and wages were stagnant. Today, it could be said that we are in the era of the pension crisis, with the topic of provisioning for retirement very much to the fore.  Indeed, earlier this month Baroness Altmann, the former UK pensions minister, said that pension funding had reached “crisis point” and blamed the Bank of England’s quantitative easing policy of buying bonds. Continue reading