
The language here - "raided" - is why it is so hard to reform pensions, however unaffordable they become. People imagine there is a pot of money into which they have paid, rather than present pensions being funded by present taxes.
AJ
20.3K posts

@Ajouk
From Chester living in Yorkshire. Qualified Accountant and Project Manager. Retired, Libdemish #FBPE 🇬🇧🇪🇺🌈

The language here - "raided" - is why it is so hard to reform pensions, however unaffordable they become. People imagine there is a pot of money into which they have paid, rather than present pensions being funded by present taxes.


Exactly. Pensions are not a pot to be raided when incompetent governments can't balance their books.







“I don’t think [the triple lock] is defensible...” Former Conservative Cabinet Minister Michael Gove makes the case for reviewing commitments to the “current settlement” of the pension triple lock, to ease the impact of the UK energy shock caused by the Iran war. #Newsnight

@KathyParr101 @GayTory The elephant in the room is public sector defined benefit pensions which are far superior to private sector defined contribution pensions, especially with very high Er contributions. Let's level the aging fields and save around £20 billion!!



By Gove he's right.







