Comments on this most interesting. Several pointed out that if such a policy became enacted MP’s and the elite would somehow manage to make themselves exempt.
Gordon Brown’s government effectively trashed the best occupational pensions in the world. The government is constantly telling everyone that they are not paying enough into their private pensions, saving for retirement and taking out insurance against nursing home fees. In the UK at present we are paying approximately half our income in taxes – tax freedom day is now in June. Now it seems the government wants everyone to pay their own pensions. Perhaps we could afford to if the government gave us back all our taxes we have paid over our lifetime – with compound interest of course. What are we paying taxes for?
If pensions are going to be means tested – what would be the point of saving, or saving into a pension?