"Retirees facing reduced pension pot"

Simon Gompertz for the BBC reports that:

"Nearly half a million people are relying on their pensions to allow them to retire in the coming year.

But for many the stock market collapse and declining pension rates are forcing them to carry on working to make ends meet. "

Of course Simon Gompertz doesn't reveal that this problem only applies to those people in the private sector. Their public sector equivalents will retire on a final salary pension paid for by the whole economy.

Simon Gompertz can afford to look concerned for he will, I believe, be on a very generous BBC final salary scheme and not be affected himself.