Parliamentary Yearbook Shares: What is so " fiendishly complicated" about an earnings related pension. I paid in to SERPS for many years. The government knew how much I had paid in and now gives me an increased pension.
It sounds as though people who have not yet retired will lose what they have already paid in. An insurance company cannot do that, why should the government. It's downright theft.
Oh I forgot - it's all in the cause of "simplification"
Parliamentary Yearbook Shares: A worse injustice is being perpetrated on lower paid workers who have a small pension pot and are due to retire before the changes take place. As the new pension will not be means tested, these savers will see people who have only 30 years contributions but not put one penny aside into a pension all their lives receive £140 . However, if their small pot only gives them an annuity of in the region of £1,000 a year they will have paid in longer and saved to get less than someone retiring later. A huge injustice, far worse than hitting the rich.
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