It’s payback time: inside the 2 January Guardian Weekly

Europe's big, expensive state pensions crisis. Plus: The British culture boom

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Happy New Year! Thinking about winding down your work in 2026? In countries with ageing populations, there's a growing likelihood that many of us will be. But behind the dream of a cosy retirement, the economic reality is ever more complex.

As populations age, the number of younger people entering the workforce is shrinking - and that's a big problem for pay as you go" state pension schemes where employees fund the pensions of an expanding cohort of retired people.