Black Holes in Pensions

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Black Holes in Pensions

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The discredited Banking Industry was rescued with £385bn of Quantitative Easing. I would wish the Coalition to consider aiding the Private Pension Pots with a timely boost of Quantitative Easing! The Black Hole was created in the early years of the Blair Government with Chancellor Brown raiding the Pension Pots with the abolition of Tax Relief on Share Dividends. The hope was that the Stock Market would grow and gloss over the 'theft'!! The problem was Government instigated aided by a falling Stock Market and I see no good reason for
the Public Sector to shoulder the blame. Private & Public Sectors should have equality with Pensions. Indeed, a safety net, government supported to ensure that predicted Private Pensions should drop no less than 5% of the prediction at outset.It suited the circumstances to rescue the Banks. Now rescue the Private Sector Pension Funds and play a fair game with hardworking people fighting for a reasonable level of income post retirement.

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