Last week the shadow work and pensions secretary, David Willetts, questioned figures released by the Government on pensions figures including current values and what the Nation pays into schemes.
Mr Willetts highlighted a £10bn 'black hole' in the figures supplied by the Office for National Statistics (ONS). The ONS admitted that there had been an element of double counting of contributions and that overall payments made to pensions were probably nearer half the £86bn originally quoted.
Andrew Smith, work and pensions secretary, admitted that these figures published by the ONS cannot be trusted. In simple terms, we are paying in even less than the Government thought and this cannot bode well for Government long term planning?
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