Sensible ideas

It need not be too difficult for the UK to address its future pension challenges. That should be the principal lesson of the second report from the Pensions Commission, published on Wednesday. Regrettably, the Commission’s modest suggestions for change are being treated as dangerously revolutionary. The report takes 600 pages, but its recommendations can be boiled down to three simple proposals. First, the standard age of retirement should increase from 65 to 67 or so by 2050. That in itself r...