British Government swiping pensions to cut deficit.

I don't know about you but I would not be happy if the government did this to my pension.

http://uk.news.yahoo.com/uk-royal-mail-pension-pay-down-debt-224053394.html

 

You mean the state pension? its not worth having its about £7k a year

 

Ummmm, I'd be more pissed at my government. This is pure comedy. Has anyone heard the phrase "Robbing Peter, to pay Paul"?

LOL

 

The UK govt isn't swiping pensions... It's just engaging in a bit of creative accounting, but who isn't these days?

 

I bet they won't get back what they would if it stayed private.

 

Exactly. You can't take anything from public employees in the US or UK -- they squeal like stuck pigs, then the politicians roll over.

 

The US has been doing this to the Social Security retirement fund for YEARS of both public and private sector employees.

 

They wouldn't have gotten it back regardless... The Royal Mail "private" pension plan was in severe deficit and would have likely ended up taken over by the PPF. Same difference, in the end, with the exception that there's a chance that the govt might actually be able to salvage Royal Mail as a business (to sell to Deutsche Post, hopefully, 'cause the Germans seem to be the only people who know how to run a postal service).

 

I don't know whenever the government gets involved it gets worse.

Here is an article about a suggestion I made to cut the deficit.

http://www.mindfulmoney.co.uk/10285/investing-strategy/cut-pension-tax-deals--cut-the-deficit.html

 

Public employee pensions in the US are waaayyyy too generous... likely the same in the UK.

Cutting such lavish largess is a good place to start.