We’ve always been told the same story, work hard, pay into your pension, and one day you’ll retire comfortably... if you do pay into a pension at all. But what if that safety net doesn’t exist anymore?

In this episode of Beyond the Market, I break down a harsh truth, no one is coming to save you. The state pension, once designed to protect retirees, is becoming harder to qualify for, later to pay, and worth less each year. With older generation out of work and life expectancy rising, it is 82 now, heading towards 100, we are facing a problem with the retirement age barely moving. The math doesn’t work.

I will discuss how we’ve gone from final-salary pensions that guaranteed income for life, to a system that leaves individuals to fend for themselves. As the population gets old the government will have to do something and they have many leavers to pull, change age limits, qualification years, payment amounts. And when budgets tighten, they’ll prioritise those with the least, not those who simply failed to save.

So what happens if you reach retirmenet age with nothing set aside? You keep working.

This isn’t fear-mongering, it’s a wake-up call. The sooner you start investing for yourself, the less you’ll rely on promises that won’t be kept.

If you found it helpful, please follow and rate Beyond the Market wherever you listen, it really helps the show reach more people.For more investing insights, mindset tips and behind-the-scenes clips, follow me on Instagram ⁠@anthonycotterfinance⁠. And if you’re already following share this episode with a friend who needs to hear it.