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It is a fact of life that people nowadays live longer than they used to so pensions are paid for longer.The 65 for men came in under Bismarck over 100 years ago and was really set then in the truth that few men would live to 65.The average age then was under 40 and is now 76 so it is not hard to see that the goal posts have moved dramatically and successive governments (for various reasons) did not move things gradually in line with the increasing life expectancy. As a previous correspondent has said Unilever virtually every pension fund has a massive black hole which cannot be ignored for ever or everybody will lose everything.It is tough on current workers to be told now that things have to change but there is nothing new in companies having to change strategy when financial factors dictate.I fail to see what striking will do in this situation or indeed any situation as workers lose pay which takes a long time to recover.

5%, 4% rise - I haven't had a pay rise since 2009, have to sweat on my contract being renewed every six months and my pension contributions will be going up in April with (guess what) no pay rise!

As someone said earlier, I do feel the pain of a reduced pension payout but, everyone has to be careful here to not push their luck as a job is better than no job and we're all living longer so the old pension model just doesn't work anymore.

AR_One

'Tis only a rumour that there may be a 5% rise in pension come April. Will be welcome after a lot of slack years. Personally I will "wait & see" whether it materialises. Somehow I have doubts. However, whatever will be will be, and now the mortgage is finally ended we will cope. The Mrs still works a few days but what she earns was all spent seeing the lad through Uni and now supporting him while he gets on his feet with a job.

Snod

I'd still rather be in a job than without one, being jobless really is the pits. He who turns and runs away lives to fight another day, you can sort yourself out once things improve, and they will. It's a bind trying to cope these days but it has to be done, same as yesteryear.