Sunday, October 30, 2011
All spent already, gone is misleading
"The truth is, companies, the Government, and the regulator need to understand that we have simply made promises we cannot honour. Someone has to lose out, either the company's shareholders, or the members, or maybe both. There's just not enough money in the system â€“ and that is only getting worse. Not even if the pensionable age becomes 75." I am posting this to further the idea that pensions have already been spent principally to lower and hide the tax rate required to balance the books under New Labour.