This was great news for those individuals, but not such good news for governments and companies who found themselves having to fund ever-longer retirements. Many of the most generous schemes have now been withdrawn and it’s increasingly up to the individual to save for their retirement – but many aren’t saving enough.
Volatile stock markets and low interest rates are making the situation worse. Many think retirement will turn out to be a "blip" in human history; it didn't exist in the past, and it won't exist in the future. So, is retirement over?
1. a small spot of light, sometimes with a short, sharp sound, that appears on a computer screen.
2. a short high sound made by an electronic device
3. a temporary change that does not have any special meaning. E.g. Last month's rise in inflation was described by the chancellor as only a blip.