Retirement Age in Spain - Are they going too far?

Its all very well to say we should all start to save for retirement at an early age but.....what if one does just that and then as happened with my husband's company they go into liquidation because they were affected by 9/11 and now instead of having a comfortable pension he is left with a pittance...about 1/4 of what he should have had and through no fault of his own....he paid his part and accepted pay deals which incorporated the pension side but now is left with nothing and then to top it all has been told he has to wait another 5 years to receive his state pension!

 Well.... MPs are not civil servants - but I understand what you are saying.   However, in spite of the problems there might have been (and I lost money in Equitable LIfe myself), the only real guarantee that you will have enough as you get older is to make sure you use a range of products.   So it is a combination of work/private/state pensions plus other investments to aim for.   Of course there are lots of bad investments out there, which is why people have to view it all as a long term project and just get on with it!!

Bax DIY is a good idea if you know what you are doing. Most of us are not experts in this field so end up using the services of an IFA and while they warn that the value of our investments can go down as well as up what they don't say is that their commission (or fees as it now is) are not affected.