Expert urges gov't to double state pension

Economist and Banking & Securities Industry Consultant Robert McDowell told delegates at a Cityforum round table on Wednesday there is nothing standing in the way of increasing benefits for UK's elderly population as it would not be a cost to GDP. Pensioners belong to the single biggest group of people relying on the state, with an estimated one-quarter soon to become dependent on the state pension. That said, over half of pensioners' pension receipt goes back to the Exchequer in the same year. This means pensioners as a group are funding half of the retirement benefits they receive, ...