In addition to harming company pension schemes, what about the millions of people with no company pension who were saving in their private pensions (without company top up) methodically every month, not taking a pensions holiday, simply deferring some of their income for their old age so they don't become a burden on their families.

This dividend raid saw their savings diminish, they watched their annual pension projections plummit whilst watching the I'm alright Jacks in Government schemes just ignoring the situation, looking to protect themselves and their early retirement plans and not being honest.

The next pensions wheeze will come with the pensions saving scheme where everyone will be encouraged to put 3% of their earnings, 3% employer contribution and 1% government contribution into a none guaranteed scheme - where is that massive sum of money going to be saved to protect our investment or is this just going to be used to bail the government of the day out?

Also because of the pensions credit system, those pensioners who did put up privately for themselves are now watching others that didn't benefit more from a tax credit system that they're excluded from just because they were prudent - simply breathtaking.
a-tracy | 04.03.07 - 12:15 pm | #