Well, yes, seems logical

Pensioners could lose nearly a third of their retirement pot under Government plans to save companies being crippled by growing pension costs, analysis for the Daily Telegraph has found.

The entire aim would be to reduce the amount that must be paid in. This is going to lower the amount that can be paid out.

This is the point and purpose here – how to screw pensioners.

Alternatively, you just can’t trust that Curajus State, can you?

11 thoughts on “Well, yes, seems logical”

  1. So the government should intervene to uphold promises made by private companies? That seems at odds with your usual liberal outlook.

  2. I want to be able to afford to eat when nobody will pay me to work any longer, so I scrimp and save to put MORE into my pension pot. I just can’t understand the thinking of people who want to put /less/ into their pensions. Presumably, they are planning on dropping dead a few days after retiring.

  3. jgh, there is an alternative possibility: that they’ve seen responsible people repeatedly being robbed of the fruits of their self-denial in order to comfort the feckless, and come to the entirely rational conclusion that they might as well enjoy what they’ve got while they can and take their chances with the feckless to later live off others’ self-denial.

  4. “Are pension fund trustees ever held to account?”

    For what –the corrupt economic bungling of the sate?. For believing the lying ordure pronounced by political and bureaucratic scum?

  5. State not sate. As much as the state may resemble a shit-coloured peanut sauce.

    They aren’t short of sauce that’s for sure.

  6. It’s not the private sector DB pensions they should be worrying about; the schemes they’ll never have the balls to address are those DB schemes in the public sector, only some of which are funded, many of which are part-funded, and the rest aren’t funded at all – except, of course, all are indemnified ultimately by the taxpayer. Their ludicrous benefit promises (for example Police and Fire Brigade schemes with early retirement on full benefits) and the abuse of the system to maximise payouts in retirement to the favoured, are an utter disgrace.

    Perhaps members of DB schemes should be paying much, much more for their benefits, rather than delivering the bill to the taxpayer or their employer.

    Presumably it’s also the case that increased employer contributions to DB pension pots will just cause an individual’s pension pot to rise to meet the lifetime limit – and so the tax burden – all the sooner?

    How handy for the Chancellor.

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