Kipya,
You pose interesting questions:
1. Do all people deserve reasonable pensions? - YES especially if you worked all your adult life and contributed to it. What is worrying me is that no matter how much I save it will not be nearly enough to fund a third of my current income, let alone a greater percentage of my future income. As someone with great earning potential, and who has been putting 20% into pensions for a long time I am losing confidence in the whole system.

2. Should we all be in it together in addressing the economic crisis? - YES. If rules are being changed for younger generations it is only fair to apply the same logic to the older ones too. Equitable life - went into difficulty because it could no longer honour the deals to the current pensioners. So their protected rights meant that my contributions have lost significant value. My hubby’s employer recently changed his final salary deal. For the increased contribution, he'll be lucky to get a half of what he was expecting. Again current pensioners didn't even have to give up the inflationary link.

So it is not that I have anything against older generations, it is just that the younger ones are really getting scr4w4d. The youngsters who are facing tuition fees will live their whole life in debt. When will they accumulate a pension pot? Will they not work hard enough compared to older generations?