Pensions
Minister Mike O’Brien commented recently on the deregulatory review, which aims to reduce the burden of pension schemes for employers, saying that there was no quick solution that would solve all pension schemes’ administrative and provision costs, but remained adamant he was committed to reducing the burden on employers.
He believes that the introduction of the Pensions Bill 2008 will give many people a tool to take control of their retirement. It will give all employees the chance to save into a pension, although people will be able to opt out.
Our view
Under Labour, the final salary pension scheme market has been ‘murdered’. The only organisations that can afford final salary pensions are government organisations such as Education, Health Service, Security services, Police, Fire and of course civil servants. Those who cannot, are those that actually create the wealth of this country. Private businesses.
Remember, ‘government’ run, public organisations do not generate profit, they exist due to tax payer funding. It is only private enterprise which generates wealth for this country and it is only private enterprise that is continually ‘shafted’.
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