At some point (timeline) about all should know that pensioning out in the 1st World is becoming extremely more difficult and unmanageable. Majority cannot retire, nor have the savings to retire at retirement age and even more cannot retire early. It is of coarse only going to become more difficult. I learned that about 30 years back. It's the price of distraction and locking into the 1st World herd mentality. It's a pay to play thing....... and I would rather be in the Philippines than any other Country. Been saying it for decades.
Obviously, customer consent isn't needed when a company is only willing to sell their service/product to a customer on a prepaid basis. I reckon people do get notified when that happens. I suspect though that the energy companies change to prepaid only if and when there's been a history of multiple instances where their bill was paid (too) late. And yes, many people in Europe are suffering from increased energy prices and high inflation, especially pensioners and people who are living on government benefits if their pensions/benefits are not indexed (with inflation). I very much doubt though that a "majority cannot retire". We just need to look at the absolute mess at major airports that ensued as soon as people were able to travel again after the pandemic lockdowns, to realize that it's more than a "happy few" who enjoy 2 or 3 holidays every year and that quite a few of them manage to include an expensive ski break and/or a holiday to a far away destination. To illustrate here's a chart of the development of passenger air traffic over the last 40 years. In those 40 years the number of international airline passengers went from 150 million or so all the way to almost 2 billion per year, or roughly a twelve-fold increase. And yes, obviously the pandemic drove the numbers down steeply, but according to the IATA projections: In 2021, international traveler numbers were 27% of 2019 levels. This is expected to improve to 69% in 2022, 82% in 2023, 92% in 2024 and 101% in 2025. Not all doom and gloom. View attachment upload_2023-1-24_10-26-37.png
*4 in 10 Canadians cannot afford to retire at 65 and 23% of those retired go back to work hence my majority stance. *Every Country has it's own stat's obviously.
I can only speak from what I see and know for sure is happening in UK at present. Yes many people have this year taken a holiday abroad after almost three years of lockdown or restrictions in destinations elseswhere. However I doubt that most people, especially pensioners in UK would have the means to take 2-3 holidays a year even in the best of times. Air travel has increased over the years, if only for the simple reason of increased population and that in some cases, it's cheaper than other forms of travel. Sorry if my posting on the current situation here in UK conveys doom and gloom, there is always hope that things will get better, unfortunately I can't see that happening anytime soon in UK or for the rest of Europe for that matter, while what's happening in Ukraine continues. My cup is neither half full or half empty, I see it for what it is 150 mls, ( preferably a 12 yrs old dram.)
Well, I don't dispute your numbers for Canada, however, it is a fact that in just about all developed countries the retirement age is moving up, even in Canada. Starting this year, the age at which Canadians can apply for their OAS will be gradually increased until it reaches 67 by 2029. So I would say it's no surprise 4 in 10 don't expect to be able to retire at 65. The reason for this is demographic developments. More explanation in my post in an old thread here.
There are already countries where there is a discussion about raising the retirement age to 70. Demographically spoken, this is probably necessary. But the bitter reality is different. If you lose your job at 50, you no longer have a chance in the job market. This might only work for people who are experts in a specific area. The rest has only two choices. Either they become a welfare case or are forced to retire with the own money and later have to live with a reduced pension. These are rather bleak prospects for the young ones. Gesendet von meinem M2101K6G mit Tapatalk