cromwell wrote:On the QT the tories are talking about allowing pension funds to lower payments to their pensioners if the fund is "hard pressed". It just gets better and better. Green light for some major fiddling if you ask me.
"if the fund is hard pressed ...". And whose fault is that?
When Osborne stupidly allowed pensioners / prospective pensioners full access to their pension pots rather than the then existing 25% cash lump sum limit, the purchase of annuities dried up and thus he did incalculable harm to pension companies' ongoing reserves. The one I'm with warned about the potential problem virtually straight after Osborne's announcement.
