Where will all the cash reside?
The new compulsory pension scheme is primarily and theoretically a good idea, but who, precisely, is going to be trustee of this potentially very large fund?
This is money which belongs to the people. It is they who have worked and contributed to it. It does not belong to the banks, and certainly not to the government to dip into to bail out their mistakes.
The tax man always has to have his fingers in the pie but, as tax has already been paid on this money and interest is to be added (again theoretically) there should be no deductions to a nice annuity for any future claimant to top up their basic pension. But the cynic in me says the truth may be different.
R. Taylor, Gaulby.
Business Cards From Only £10.95 Delivered www.myprint-247.co.uk
View detailsOur heavyweight cards have FREE UV silk coating, FREE next day delivery & VAT included. Choose from 1000's of pre-designed templates or upload your own artwork. Orders dispatched within 24hrs.
Terms: Visit our site for more products: Business Cards, Compliment Slips, Letterheads, Leaflets, Postcards, Posters & much more. All items are free next day delivery. www.myprint-247.co.uk
Contact: 01858 468192
Valid until: Friday, May 31 2013
Comments
by 4_Stroke
Wednesday, October 03 2012, 11:47AM
“I have paid into a pension for over 35 years. Changes in tax laws, pension laws etc have reduced the amount I will get to a pittance. Also the gradual change to means tested benefits for pensioners erodes the value of your pension still further. If I had my time again I would have just put the money into the building society, then I would be able to spend it how and when I like, It would also be left as an inheritance (which your pension won't be). The fact you get tax free saving from a pension is more than offset by this.”