AleisterCrowley wrote:
We'll you'd have to pay them more, as some pensions are a significant part of the total package
Developed society has "developed society" systems which are still evolving. As has been pointed out, who thinks that it is fair and equitable that pubic sector employees can and do retire at 60 on unfunded final salary pensions? Not everyone here I would guess.
For the first 20 years of my working life I worked as an expat on a modest salary which paid a "gratuity" in lieu of pension at the end of every three year contract. The gratuity was not very much (about 15% of base salary if I recall). Not nearly enough to make a decent pension. Most of us spent the gratuity (we were young) so when I left expat employment and started my own small business I had not a lot, certainly no nest egg.
By the time I was 45 I realised that I needed to make a plan for my family in retirement. I now have a HYP, built from personal savings and the sale of my small business when I reached 60 or so.
So I generally agree with Lootman. People need to look after themselves or make voluntary class 3 contributions and manage on the state pension. Or work outside Europe for a while and find out how the other two thirds of the world lives.