MSE News: Private sector pensions 'collapse'

oldvicar

James, Slaphead etc. Perhaps my phrasing of 'bonfire' was a bit inflammatory !

My point was not to deny that public sector pensions may well remain far better than many in the private sector can now look forward to - although historically there were some private sector schemes which were even better.

Rather my point is that the government is levelling down the pensions playing field by trimmining the value of the public sector schemes, and not levelling up by doing anything much to re-invigorate pensions provision more generally, as the report which the article refers to is asking for.

The biggest filip to encourage people to save in any pension scheme is, IMO, the proposed raising of the basic state pension to a level which does away with pension credits. But not many yet realise this is planned and therefore wrongly think that if their potential savings are only modest then they would be better off not bothering at all.

jamesd

oldvicar, yes, I agree that that change to the state pensions may have that benefit. Needs also to be accompanied by regular government mailings and such to ensure that people know about it and that any money in pensions will make them better off.