They said: “I paid into a private pension, only to find I was ‘Opted Out’ from the state pension, so I was paying 13.5 percent of my wage at a time I couldn’t afford it.
“In contrast my brother-in-law put his money into property and now owns four houses which have increased in value exponentially, plus he gets monthly rentals.
“So who was the mug? Me definitely. “Hindsight is so good when you’re old and poor, so many things I would have done differently, but when you’re young a pension and poverty in old age are something else suffered by others not me.”
JK2 added to the conversation saying: “The state pension cannot be abolished as nearly half the population depend on it. However, it will not keep pace with inflation and anyone dependent on it after about 2035 will spend their retirement in poverty.