Submitted on Saturday 6th August 2011
Published on Monday 15th August 2011
Current status: Closed
Closed: Wednesday 15th August 2012
Signatures: 2
Pension stimulus plan
Stimulating economic growth is the number 1 national priority. The standard toolkit has been deployed, but more needs to be done. UK pension assets are over £2 trillion. Consumer spending can be stimulated through a rule change that allows pension scheme members to cash out a small percentage (5-10%) of their pension pot at any time before retirement, tax free. Pensions can be considered deferred pay, we can release these funds early to raise consumer confidence and boost growth now. The growth created by this stimulus now will more than make up for the temporary reduction in pension fund assets.
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