Let's face it! Most of us of us don't save enough to maintain our standards of living in retirement. Incredibly 8% of people in the UK genuinely plan to win the lottery to fund their retirement. What's worse is that the country's demographics are also storing up a time bomb. Birth rates have dropped and life expectancy has increased significantly since the 1950s. Unless we save more for retirement now, this is will be a problem in our future. See a graphic illustration of this in the  Red Blog 

However, New Zealand academic economist Neville Bennetti is recommending readers not to buy shares. Read his recent article with interesting graphics: Beware investing in shares

If all that's not scary enough, watch US economist Bob Wiedemer's predictions of hyper inflation when the printing of money - the economic medicine  - turns into poison and manna from heaven turns into money from hell. Look at Aftershock Video.

In New Zealand, pension schemes are known as superannuation schemes and Kiwisaver schemes. They are recognised as pension schemes in the UK as the UK definition of a pension scheme includes schemes that do not pay pensions. In general in New Zealand when a member is entitled to receive benefits from a superannuation scheme they are received as a lump sum and are tax free in the hands of the member.

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