UK Pension crisis - and our solution
Friday, April 14th, 2006It seems like every other day pensions hit the headlines. Over recent years the UK “pension crisis” has escalated to a point where most people are worried that they will not have enough money to live on when they retire.
The pension crisis in a nutshell
Life expectancy is on the increase with Government figures showing that average life expectancy in the UK rose by five years for men and four years for women between 1980 and 2000.
Dwindling stock market returns… Pension funds depend on steady stock market returns to pay policyholders.
An additional gripe, as far as employers are concerned, is the 10% tax on dividends earned by pension schemes.
What does this mean for the average employee?
Basically the amount of money they need to put aside in order to ensure a given level of retirement income is rising steadily.
Experts say that a 30-year-old man aiming to retire at 65 on an annual income of £20,000 a year in today’s terms would currently need to save about £260 a month… and that rises with age - a 40 year old man would have to set aside £450 per month! (Figures taken from BBC News)
The solution
Want to set aside £260 per month towards a pension scheme but can’t afford to - welcome to Kleeneze! The average distributor in our team earns that much per month, part-time, from personal retail alone! Of course by building a team a residual income of many times that could easily be achieved by most people meaning that the pension in effect becomes superfluous as your Kleeneze income way outgrows your pension… if you know anyone worries about pensions (and hey - who doesn’t!) make sure you tell them about the business.