Pension Planning - Is there a better way?

taktikback

Well, there's more poor voters than rich voters, so that's not a problem -and you may have noted that the current, "take from the rich and give to the poor", Robin Hood theme is very much the popular press this government is looking for.

Unless of course you would rather have Milliband's lot, who's ticket seems to be to take from the rich and the middle, and er..the quite poor too, and just splurge the lot...

gadgetmind

taktikback wrote: »

Well, there's more poor voters than rich voters, so that's not a problem

And then the rich clear off and income tax has to go up to 75% for everyone. Oops!

But sadly you're right, people seem to want governments that shower largesse upon everyone and they seem to want to debt burden to fall on everyone except themselves, and ideally future generations.

Just_landed

gadgetmind wrote: »

And then the rich clear off and income tax has to go up to 75% for everyone. Oops!

I seem to remember many years ago that "We've been there done that"



But sadly you're right, people seem to want governments that shower largesse upon everyone and they seem to want to debt burden to fall on everyone except themselves, and ideally future generations.

Fiscal Cliff springs to mind.

:eek:

ukjoel

I too was of the view that govts would invariably remove pensions for those who had worked hard and saved for all their lives.

I now think that is less likely for three reasons.
First is the govt seem to be working on the increasing the age at which people retire. This seem reasonably fair as people are living longer, jobs are less physical, and also more people are now at uni so will start work later in life.

Each year this is pushed back must save billions not just due to fewer years to payout but also as tax revenues increase as people work extra years.

The second reason is auto enrollment. This will reduce govt liabilities down the line.

The third reason is simply that huge number of voters this will impact. This is why the govt run scared of phasing out or abolishing benefits like winter fuel allowance. No single politician these days would risk it. They would rather phase it down over a number of years by increasing the age limits.