Blue Ties rob pensions.
Discussion
Well there were lots of threads attacking the red ties when the brought in legislation that devalued pensions but now it appears the blue ties will do exactly the same thing.
"A consultation on changes to pension scheme rules that could cut the value of pensions is about to be launched by the government.
In July, Pensions Minister Steve Webb said he wanted to let occupational pension schemes use the Consumer Prices Index (CPI) for inflation proofing.
It would replace the faster-rising Retail Prices Index (RPI).
Any such change might override existing pension law and the rules of schemes which specify the use of the RPI.
Current legislation makes it very difficult for pension scheme trustees and employers in the private sector to cut the value of pension benefits already promised.
The government has already used its powers to introduce such a change, from April next year, for public sector pension schemes."
http://www.bbc.co.uk/news/business-11948861
"A consultation on changes to pension scheme rules that could cut the value of pensions is about to be launched by the government.
In July, Pensions Minister Steve Webb said he wanted to let occupational pension schemes use the Consumer Prices Index (CPI) for inflation proofing.
It would replace the faster-rising Retail Prices Index (RPI).
Any such change might override existing pension law and the rules of schemes which specify the use of the RPI.
Current legislation makes it very difficult for pension scheme trustees and employers in the private sector to cut the value of pension benefits already promised.
The government has already used its powers to introduce such a change, from April next year, for public sector pension schemes."
http://www.bbc.co.uk/news/business-11948861
You do know why private sector schemes need to limit payments these days don't you?
The red ties nicked 25 BILLION off them.
The market will decide anyway, those offering the best schemes in future will attract the most business - unless some thieving red ties decide that they've got another bout of pension fund windfall profits taxation in mind..
edited for speeeeling erras
The red ties nicked 25 BILLION off them.
The market will decide anyway, those offering the best schemes in future will attract the most business - unless some thieving red ties decide that they've got another bout of pension fund windfall profits taxation in mind..
edited for speeeeling erras
Edited by andymadmak on Wednesday 8th December 13:07
It doesn't matter who you vote for, the government always get in.
I had high hopes for the Tories (even with Libdem help), but they've become the same PC, Fair, obsessed but of socialists the last lot were. They don't care about doing the right thing, just doing sufficient for re-election and they've all learned re-election lie's with the chav masses.
What they've done to defence is a disgrace, considering we are still at war. Our country is well and truly f
ked until someone with some balls gets in. I'm not holding my breath.
I had high hopes for the Tories (even with Libdem help), but they've become the same PC, Fair, obsessed but of socialists the last lot were. They don't care about doing the right thing, just doing sufficient for re-election and they've all learned re-election lie's with the chav masses.
What they've done to defence is a disgrace, considering we are still at war. Our country is well and truly f
ked until someone with some balls gets in. I'm not holding my breath.
May be being thick here, but why would they want to do this?
Private pension schemes are surely the liability of private companies, therefore any issues which come up around funding them is going to be an issue for the private company?
What benefit will the government see from doing this? Can the government ever be liable for making up shortfalls from private pension schemes?
Private pension schemes are surely the liability of private companies, therefore any issues which come up around funding them is going to be an issue for the private company?
What benefit will the government see from doing this? Can the government ever be liable for making up shortfalls from private pension schemes?
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