The changing demands on pensions

In the good old days, we saved for 40 years of our life, to fund the last 15 years. Then we met our maker. 

Everyone knew where they stood. Today it’s different. We are now funding for 40 years knowing that this pot of money may have to last another 25 to 40 years.

The mathematicians have calculated over the longer period, that you would have to pay in more than your entire salary, for 40 years, to be sure you have everything financially covered till death. Unless you were lucky of course and died early!