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Pensions and Brexit: Another win for the baby boomers - Gadfly

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London - Here’s another reason for Britain's pro-European millennials to be irritated by British baby boomers who voted for Brexit. Big UK employers may have to set aside more cash to top up the gold-plated corporate pensions of Leave-voting over 55-year-olds looking forward to, or already basking in, retirement.

Meanwhile, the young face an uncertain labour market, unaffordable housing and zero prospect of a guaranteed retirement income.

The problem arises thanks to the impact of Brexit uncertainty on financial markets. The shock vote has pushed nervous investors into UK government bonds. This flight to safety has nudged gilt prices to new highs, depressing yields: the 10-year UK government bond now yields less than 1%.

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