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by phkahler 1274 days ago
You guys are missing the point. If we take X percent of the workers out of the market due to retirement (and age discrimination?) there will simply not be enough people to do all the work. Paying more at any or all levels will not create more workers.

Inflation is starting to affect retirement plans, and some are coming out. But companies need to want them.
2 comments
CraigJPerry 1274 days ago
The article claims people are not coming out of retirement and are unlikely to do so as the early retirees are comparatively well off.
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Jensson 1274 days ago
If there isn't enough labor to pay for their retirement then inflation will eat up all their retirement until there is enough labor.
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CraigJPerry 1274 days ago
>> enough labor to pay for their retirement

Labour doesn't pay for their retirement.

>> inflation will eat up all their retirement

Their state pension increases in line with inflation thanks to the penion "triple lock" in the UK (this is temporarily the "double lock" for 22/23).

>> until there is enough labor

Adding labour has no direct impact on pension income, there can't be "enough labour" to reinstate a standard of living in a person's pension situation

Instead what will happen is existing groups who are already below water (e.g. foodbank users) will suffer more pain.

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Jensson 1274 days ago
> Their state pension increases in line with inflation thanks to the penion "triple lock" in the UK (this is temporarily the "double lock" for 22/23).

In that case you have a feedback loop creating infinite inflation that goes faster than those rate adjustments goes. There is no magical wand to wish away inflation like that.

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vaidhy 1274 days ago
They do not have to retire in UK either, right? You can take your nest egg and move to SE Asia?
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wrycoder 1274 days ago
Most people don’t have a nest egg these days.
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randomdata 1274 days ago
You don't need more workers, though. Supply and demand. As prices rise, demand wanes, not requiring as many workers.

When labour is free the amount of work is infinite, but with a higher price some work is no longer worth doing and workers get reallocated into the jobs that are still viable.

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ilammy 1274 days ago
You heathen, how can you even suggest that the number goes down!?
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