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Happy Retirement - hah

Telegraph | News | Pension plan will mean more work and saving

By "saving" in that headline they actually mean "tax" - another 7% (I think) tax on employment - or out of your wages - in return for a Government "promise" that they will look after you in your very old age.
So you will pay more tax, work for longer and some of it will come back to you as a state pension.

I'm not a licenced financial adviser and so can not give advice but if I were it would be don't trust the bastards, invest as much money as you can in your own pension provision which you control and has nothing to do with the government, or do you believe they are so wise and careful with your money that they can look after it better than you can do?
I can prod my pension fund with a stick and check it is still there every morning, and that is the way I like it.
Of course these strictures and advice doesn't apply to certain groups in society who will be feasting at the public pension trough at an age they can still enjoy it...

Comments

"I can prod my pension fund with a stick and check it is still there every morning"

That is no way to treat your kids...

It probably doesn't matter whether you save your own pension funds or not. When it comes time for the government to provide pensions to those who 'invested' in the government pension plans, and the necessary funds are not there, the government will simply change the rules and tax them away from those who had invested in private pension plans. Government will always 'take from those who have, and give to those who haven't', since there are always fewer of the former than the latter.

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