How much it costs to rent a one bedroom flat in London? A British pensioner cannot afford it.

 

Today´s state pension can be about 1,000 Pound a month. The rental price of a one bedroom flat is about 1200 Pound, minimum. Then you have to account for other expenses apart from rental payments. So, really, the state pension does not allow pensioners to rent a one bedroom flat anywhere in London, capital city of the United Kingdom,

It usually assumed that by the time somebody retires the said person would own his or her own accommodation. This is not the case and it will increasingly not be the case as more and more people cannot afford to buy property and would have virtually no assets. This a ticking bomb. It is not by chance and/or by choice that more and more adults do not leave the home of their parents. Marriage as an institution if vanishing. Today, more and more parents are not married. It is also the case that vegetatve growth is below replacement rates. There are less and less children. Coupled with unemployment is the fact that there are less and less active workers and more and more people depending on welfare payments.

Monies to pay for pensions are disappearing and pension payments are not enough to have proper living standards. Once again, the clock is ticking. A consumer market that does not have spending power, combined with businesses that do make enough to manage to stay afloat with increasing taxation and other rising operational costs is not the way to Paradise. In spite of annual adjustments, retirees are getting a lot less in terms of that whey need to keep living standards.

Everybody should be talking about these issues, but most people live in cuckooland, oblivious in terms of what lies ahead.