Under 25? This is why you MUST start voting
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If we as a generation realised we are active in our own marginalisation through our passive stance on voting, would we head off to the ballot box? Yesterday, the government’s overhaul to the state pension system set out in motion. Although pensions seem a faraway thought as we lay in bed preoccupied with the thought of the crippling debt we have amassed during university, it doesn’t mean we shouldn’t be planning for the future. The new flat rate system, sold as a simplified version of the old system, is set to save both the government and taxpayer millions. Formerly, the basic state pension paid out £120 a week with additional top ups via schemes such as the state second pension for those who qualify. Now, the abolishment of top ups in favour of a “flat rate” of £155.65 will deliver significant gains to every demographic. Except our own. It’s not all doom and gloom though. Women will gain on average £5.20 a week more through the flat rate and the self-employed will gain £7.50. That being said, those of us in the under 25 age bracket are set to lose £19,000 each come retirement. Meanwhile, government estimates that the majority who retire before 2040 will be better off. We could blame Tory economic policy and the cautious attitudes of various governments towards pensions, an area of the welfare budget that remains the most highly supported by the general public. But we could also lay some blame on ourselves. Take the 2015 turnout data as example. According to Ipsos Mori 78% of over 65s turned out to vote. Compare this to the 43% of 18-24 year olds who voted and we can almost see a ‘reasoning’ behind the government’s favourable attitude towards older age groups.
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