Saturday, August 20, 2016

Britain had a vast, unfair transfer of £36 billion in wealth and no one is talking about it...

If the government proposed a law that cut the amount your employer had to pay into your pension each year from an average of £7,400 ($9,675) to just £1,071, people would be angry.

Now imagine how angry people would be if this law only applied to 76% of people. The other 24% get to keep accruing their big pension deals, while the rest of us suffer.

This hypothetical law would save corporations £36 billion in annual pension contributions, keeping that money as profit or distributing it to stockholders as dividends.

Any prime minister who proposed such a law would get laughed out of Parliament. Aside from its rank unfairness and the severity of the reductions, it would leave future generations of employees unable to retire, creating a time-bomb of senior-citizen poverty for the future.

 But these numbers are real, the law is in force right now, and the act that created it was passed largely unnoticed in 1986 under Conservative Prime Minister Margaret Thatcher. Full story...

Related posts:
  1. Work until you're 75 - or even 81 - under Government review of state pension age...
  2. The top seven places to retire...
  3. Senior MPs in line for a THIRD pay rise of up to £15,000 a year...
  4. Nine countries where it is better to grow old than the UK...
  5. Why Norway is the best place in the world to grow old...
  6. The life of a retiree in modern Singapore...
  7. Retirement age in Australia to rise to 70 by 2035...
  8. Kiss your pension goodbye...

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