Bag's Rants

The latest Pensions issue.

It seems like our Government has been told they need to cough up for a bunch of failed pension schemes in the UK. Read more here.

At first glance it does sound ridiculous that we should consider the Government responsible for individual companies pensions. However, I believe that because they force so many rules and obligations on both us as individuals and the companies themselves then they have stepped forward and accepted some liability for pensions. Much as it pains me to have to dip into my pocket again.

I actually feel that if they had put certain limitations on and then just monitored them then they could just step back. But they take money out, change the rules to help business raid the piggy bank then when the business goes belly up they wring their hands and say 'Who was to know?'. The real losers are the poor saps who put their money in a pension scheme for 40 years and then are left with nothing. In the meantime others who don't save and pee it up a wall are treated the same as those that saved. That is not right.

Screw it all up and then refuse to accept responsibility. Pretty much a Government policy nowadays.

posted by Bag @ 9:02 pm