A Thought About Pensions
Are the Unions attacking the wrong target in the Government over pensions?
If I look at my pension, it’s not as big as it could be and that is probably because the advice I’ve received over the years about it could have been much better in places. It has been managed by three or four providers, a couple of whom have been taken over. It is now being managed by a friend, who works for a respected institution, but getting it there involved large amounts of paperwork and slowness on the part of the previous company.
But I’ve been lucky compared to some of my friends, who have suffered downright incompetence, or were unlucky enough to have chosen the likes of Equitable Life.
So is the problems with paltry pensions, not so much the rules, but the management by the companies and individuals involved? I know this doesn’t apply to pensions provided by the government, but poor private pensions, must mean that there is pressure for everybody to come in line.
Remember too, that when pensions came in, it was expected that those receiving them would only live a couple of years at most. Now most live a lot longer.
But if you think the problems are bad here, then just look at some European companies, where pensions are funded totally from taxation.