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Second state pension no one knows about?

bigfreddiel · 2016-04-05 19:10:56

Well the Daily Mail lives up to its usual old waffle today. Headline was "Workers in 20s to lose £19k under new pension". article by their finance and investments expert James Salmon. Somehow he can predict the outcome of tomorrow's nSP in 47 years time! Then he states "I think people would be surprised to find out that…

Comments

dunstonh Posts: 121,297 Forumite

6 April 2016 at 12:47PM

woolly_wombat wrote: »

Yes, Steve Webb is free now to make the following admission in the final paragraph of that article:

"Overall, the new system costs roughly the same as the old system in the early years. Over time it will become cheaper because people can no longer build up the relatively large additional state pensions which are available under the current system."

Although that was a trend that was already in progress with continued reductions in the old additional state pensions.

I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.

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