@43d7c4ea the figure I'm seeing quoted is an expected for 55-64 year old of £107,300 at state retirement age (much more for men than women).
I'm unclear to what extent this estimate includes the imputed value of defined benefit schemes and annuities.
If the average annual withdrawal is £7k from draw-down schemes then this suggest a drawdown of well over 4%.
@43d7c4ea I think we need to get away from the paradigm that university students need to live away from home in often either piss-poor or expensive accommodation in 'university' towns.
Its expensive, who ever pays for it, and discourages poorer students.
It also overwhelms the local rental market for residents.
It might have made sense when only 7% went to university but not now when 50+% do.
Of course achieving it would have to mean levelling up our universities so local always meant good.
@43d7c4ea the fact is that no one living pays inheritance tax, it comes out of their estate after they are dead.
Of course it's their kids' inheritance they worry about. Kids who are probably approaching pension age anyway.
Inheritance tax is the most obviously fair way to pay for end of life care.
And a modest tax take, 10% say, from modest estates (£100k-£1m) would hardly be missed. Obviously a larger take from larger estates, and a clamp down on the avoidance measures the really rich use.
@43d7c4ea My possible misreading of the ONS stats suggests a current median pot size of £66,500 for 65+ year olds (2018-20 survey) for "stakeholder and self invested personal pensions, held on a group or individual basis".
Which would be even worse.
My private pensions are defined benefit ones so I don't have the guess at how long I have left to spend a pension pot or buy an annuity.
Needless to say "One-tenth of the population held more private pension wealth than the rest collectively"
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