I know this is the argument. I know the argument well. I work in finance and can run circles around investment bankers in financial analysis...

I can tell you that the vast majority of people, if they weren't paying into a government pension, would likely have 0 pension at around 64yo. The people who have the discipline and expertise to have saved that money in a way better than the government, in most cases, already have money on-top of the government pension for their retirement and this change is going to have virtually 0 impact on their ability to retire.

The people this hurts the most is average people who are 100% reliant on the government for their retirement and in a lot of these scenarios, what they actually paid into the system is less than the value they're getting out of it, which is why a change like this ends up being needed.

If this change isn't made, all that happens is you kick the can down the road and younger people end up suffering significantly more by perhaps needing to retire 4 years later so their parents can retire a couple years earlier.

I know this is the argument. I know the argument well. I work in finance and can run circles around investment bankers in financial analysis...

I can tell you that the vast majority of people, if they weren't paying into a government pension, would likely have 0 pension at around 64yo. The people who have the discipline and expertise to have saved that money in a way better than the government, in most cases, already have money on-top of the government pension for their retirement and this change is going to have virtually 0 impact on their ability to retire.

The people this hurts the most is average people who are 100% reliant on the government for their retirement and in a lot of these scenarios, what they actually paid into the system is less than the value they're getting out of it, which is why a change like this ends up being needed.

If this change isn't made, all that happens is you kick the can down the road and younger people end up suffering significantly more by perhaps needing to retire 4 years later so their parents can retire a couple years later.