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The British left wing organisation with historical ties to the Labour Party has mounted an unprecedented attack on the hard earned savings and earning potential of pensioners in the UK.
The Fabian Society has called for British pensioners to bear the same tax burden as their younger compatriots in stark contrast to the established system of taxation.
The report’s author Andrew Harrop calls on pensioners to "share the pain of deficit reduction" and urges that "all policies that appear to give special advantages to older people as a category should be reviewed,".
The paper also suggest scrapping the guarantee that the UK state pension "will rise annually by an average of 0.26% more than earnings".
The implications for British people considering retiring abroad are clear. If, in the words of the influential Fabian Society, "in financial terms alone, older people are no longer special", then it is even more important for potential expats to take greater responsibility for securing their financial future in retirement.
The many benefits of retiring abroad whether focussed on lower cost of living or the positive tax implications of transferring a UK pension offshore will be thrown into even sharper relief compared to an ever harshening of the burden placed on pensioners by the faltering finances of an economically struggling British government.
