Quote:
Originally Posted by wagstaffe
Sorry I haven't replied sooner, I've been putting on plenty of padding for the kicking I'm getting.
Ros Altmann, a pensions expert and governor at the London School of Economics, said: “We have a real pension crisis and politicians have not woken up to it. Most people’s pensions are not going to deliver the figures they would have expected when they first started saving – unless of course, you happen to work in the public sector.”
Sounds very much like an endowment policy to me. Promising the earth and delivering nothing
No one is promising any kind of change from the system that has put us in this mess in the first place. We could start with having a radical look at how we should be treating our pensioners. These people ought to be looking forward to their retirement and enjoying their twighlight years, not dreading it.
I propose that we should reign in the pension funds from the banks and look after the money in house, by the Government, or people we can actually trust.
Use this money to build the most advanced eco friendly accommodation, in part of the green belt, outside every town. No enforcement, we will try to make them attractive enough for them to want to move in.
If we continue down this hard-nosed economic route our pensioners will be seen as uneconomical liabilities, something our sci-fi writers have already played out.
This could be funded by the pension funds which would benefit them directly and leave a legacy for others from the town. The Government could pay them rent in lieu of others moving in after they have passed on.
According to some analysts couples would need £600,000 in their pension pot to secure a modicum of comfort in their retirement. All well and good for higher paid jobs but what about the ordinary folk doing equally important ordinary jobs. We will end up with a pension aparthied
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Still talking the parts missing from an oxen then?
And next if you could give us an answer to Shillelgha about your wondrous Credit Union fix?
