PSE Blog: The Eye of the Tiger

  20 April 2012 (PLANSPONSOR Europe) - Tomorrow and retirement seems to be an awfully long way off if you are from Generation X or Generation Y, but how can governments address Europe’s longevity issues without alienating the Baby Boomer segment of the electorate?   

I was watching Rocky III the other day – the greatest of all the Rocky films but that’s another debate. The whole film hinges on the concept of “The eye of the tiger.” Rocky’s trainer tells him he’s gone soft and subsequent to his trainer dying his old foe and new trainer Apollo Creed tells Rocky that he’s lost his edge and that he has to get mean and get the “eye of the tiger” back. His famous line in chastising Balboa is telling him that there is no tomorrow.

Tomorrow and retirement seems to be an awfully long way off if you are from Generation X (born between 1965 and 1980) or Generation Y (born between 1980 and 1994). Richard Butcher of Pitman Trustees recently said that Defined Contribution, the pension provision that many of these generations will have to rely on, in the UK isn’t working and that DC provision needs a proper regulatory framework given that millions of workers are set to be auto-enrolled into DC schemes this autumn and beyond.

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