Saturday 20 January 2018

Brendan Keenan: Let's start spending so there will be no recession tomorrow

I suppose I had better declare an interest. You may possibly have heard of the changes to the pension system at Independent Newspapers, and even more possibly of the extraordinary 50pc cut in pension entitlements at the Examiner group of newspapers.

The former, to paraphrase the late Emperor Hirohito of Japan, is not necessarily to my advantage, while the latter produces about equal measure of sympathy and downright anger. How can we have made such a dog's breakfast of something our grandfathers were able to organise without apparent difficulty?

But it was not these personally troubling events which turned my mind to pensions this week, rather the release of a survey of the European pension system by insurance giant Aviva.

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