Dogma hits pensioners
On 27 October, the Lib Dems and Labour joined together in the House of Lords to block an amendment to the pensions bill that would have allowed people reaching the age of 75 to defer the purchase of an annuity for their pension.
This amendment was introduced by the Conservatives in light of the current stock market turmoil so that pensioners are not disadvantaged. The Liberals opposed the amendment because it was not theirs and the Labour Party simply confirmed it does not believe that older, prudent people should have a choice of how their funds are invested to provide an income. It's a classic case of Labour living up to "the man in Whitehall knows best" syndrome.
As a result of this, a small number of people will be forced to buy annuities which will be significantly below their true worth, resulting in reduced income in retirement all because of selfish pique and dogmatic ideology.
STEWART GEDDES
Quality Street Lane
Edinburgh
Email to a friend
Print this page- Scottish independence: I don’t want ‘separatism’ says Sir Tom Farmer
- Leveson Inquiry: Tony Blair defends ‘working relationship’ with Rupert Murdoch
- Craig Levein insists Scotland will recover from US thrashing
- The Rumour Mill: Monday’s football news and gossip
- James McPake set for Coventry talks as Hibs wait in wings
- Scottish independence: I don’t want ‘separatism’ says Sir Tom Farmer
- The Rumour Mill: Monday’s football news and gossip
- Craig Levein insists Scotland will recover from US thrashing
- James McPake set for Coventry talks as Hibs wait in wings
- Scottish independence: Labour voters ‘will deliver independence’
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Edinburgh
Monday 28 May 2012
Today
Sunny spells
Temperature: 9 C to 22 C
Wind Speed: 15 mph
Wind direction: North east
Tomorrow
Cloudy
Temperature: 10 C to 16 C
Wind Speed: 10 mph
Wind direction: North east
