In another display of government oiks reporting the bleedin' obvious (after some time and, of course, large expenditure no doubt), we learn that people retiring soon won't get much in the way of a pension. This is mainly due to Blair and Brown syphoning off money for 'pet' projects and driving down the value of the UK. Then there is the lack of government oversight of the pensions industry which, amazingly is trying to keep a large portion of the mountain of money they are handed every year, for themselves! When the markets were soaring your pension pot did 'OK' and when there was the slightest dip, the result for your fund was catastrophic. Well, the market took a downturn so you would expect it, right? And what guarantees were there after all? You guarantee them money and they don't.
So, with the relentless logic of someone who has something else he would rather be doing, the government has further said (to the sound of gleeful hand rubbing in the industry) that young people should save more for their pensions. That would be save more from the money you have left after the government have filched their wad in taxes, the local authority have lifted a load more and the unregulated (no matter what you are told) state sanctioned monopolies such as the utilities companies and railways, have raised their prices to frankly comedic levels. All helped of course by our imaginary friend, Global Warming.
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