Raiding the Nest
However, governments have used responsible employees’ private pensions against them. Means-testing has meant that many of those conscientious employees who have struggled to save for a modest pension have been penalised.
Breaking Lord Rooker’s Finance Act of 1977 has made previous governments’ pension promises worthless. Saving for a pension has made many responsible employees poorer all their lives: first by paying pension premiums, and then losing out on means-tested benefits.
Advertisement
Hide AdAdvertisement
Hide AdUnless the government gives the new state pension to all pensioners and rescinds the “granny tax”, then the National Employment Savings Trust pensions may create an outrageous and unsustainable future tax burden on responsible and ethical people.
Finlay McNaughtan
Kirkdene Place
Glasgow