{"id":718929,"date":"2026-01-25T03:35:17","date_gmt":"2026-01-25T03:35:17","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/718929\/"},"modified":"2026-01-25T03:35:17","modified_gmt":"2026-01-25T03:35:17","slug":"all-uk-households-urged-to-plan-for-world-where-state-pension-doesnt-exist","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/718929\/","title":{"rendered":"All UK households urged to plan for world where state pension doesn’t exist"},"content":{"rendered":"

Financial advisers should plan for a future in which the state pension no longer exists when working with younger clients.\"All<\/p>\n

All UK households urged to plan for world where state pension doesn’t exist(Image: )<\/p>\n

Future state pensioners are being told to plan for a world where the state pension doesn’t exist. <\/a>Financial advisers should plan for a future in which the state pension no longer exists when working with younger clients.<\/p>\n

That is according to a senior strategist at JP Morgan Asset Management. Karen Ward, the firm\u2019s chief market strategist for EMEA, issued the warning while speaking at the Let\u2019s Grow conference hosted by Parmenion.<\/a><\/p>\n

Ms Ward said the UK is setting the scene for the youth of today to have a \u201cvery nasty old age\u201d. She also noted that trust in financial services in the UK has never recovered from the financial crisis of 2008.<\/p>\n

READ MORE Major UK high street chain rebrands and starts shutting stores tomorrow<\/strong><\/a><\/p>\n

Advisers should consider putting \u201cnot having a state pension\u201d into younger clients\u2019 spreadsheets as an option, Ms Ward said.<\/p>\n

Ms Ward said her time in government shaped her thinking about the sustainability of the UK\u2019s welfare state.<\/p>\n

She said the UK may not be in a position to look after people financially in the future.<\/p>\n

Responding to the warning, one future retiree said: “If the UK\u2019s state pension was removed, it could leave people more financially vulnerable in retirement? Something of an understatement!<\/p>\n

“A terrifyingly large number of people would be begging on the streets, sleeping rough and be vulnerable to all manner of adverse health issues.<\/p>\n

“For a while, Greece was barely able to pay its State Pensions but has just about managed to recover by implementing drastic reforms, imposing severe cuts in various areas and restructuring its entire system following its debt crisis.<\/p>\n

“I cannot believe the UK would ever allow such a state of affairs to develop.”<\/p>\n

A second said: “Yes, very valid. But when it comes to younger people it isn\u2019t pension advice they need \u2013 they need to seriously consider emigrating.”<\/p>\n

A third said: “Given the state pension is a huge Ponzi scheme it will implode at some time and that time is getting closer and closer<\/p>\n

“Given that the Tax we pay today (in some way) pays for today\u2019s pensioners, Governments allocation for this seems to get lower and lower on the list of priorities year on year<\/p>\n

“A political time bomb that no-one wants to address let alone fix they just keep pushing the NRA back and back.”<\/p>\n","protected":false},"excerpt":{"rendered":"Financial advisers should plan for a future in which the state pension no longer exists when working with…\n","protected":false},"author":2,"featured_media":718930,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3093],"tags":[51,1267,474,2499,16,15],"class_list":{"0":"post-718929","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-dwp","10":"tag-finance","11":"tag-personal-finance","12":"tag-uk","13":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115953645857957602","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/718929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=718929"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/718929\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/718930"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=718929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=718929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=718929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}