The various graphs might help, but difficult choices about paying off debts and helping children and grandchildren will remain
Pensions minister Steve Webb's suggestion that older people will need to know how long they are likely to live – if they are going to decide whether to spend their pension pots on a Lamborghini or an annuity – makes obvious sense, at least in principle. Most people probably don't realise how fast life expectancy has grown in recent years. They may not be aware how miserable the state pensions will be if they choose to blow their pension savings on the Lamborghini, or even the much more modest car that is actually affordable from the average pension pot.
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