Poorer workers stand to gain the most from the income produced by more years at work.
Broadly speaking, poorer workers get a better proportionate return on their money.
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My point is not to attack offshoring, which eases innovation and benefits poorer workers in the source countries.
Many poorer workers have too much tax deducted from their paycheques over the course of the year.
One is distributional: Poorer workers in tough jobs may be unable to add years to their working life.
This could even boost GDP in the short run if poorer workers are more likely to spend the cash.
For poorer workers, in particular, the state pension is likely to be the main source of income; any DC pension will just be a top-up.
Now one might say that the life expectancy of poorer workers is not as good, but is this the right way to compensate?
Fewer clients means poorer workers, who are less able to negotiate for their safety.
