A proposal for a single tier citizen pension has been rejected by the Government as it would be unaffordable. The Government is looking at ways to top up the state pension, with increases for every year worked or caring.
It is claimed that people would know what they could expect in retirement, which would reflect their social contribution.
Our view
As ever, those that can afford to pay will pay too much, those that have not been able to afford to pay will not get enough and those that just could not be bothered to save will get too much of a share.
Perhaps Government should look at the costs of pensions for State workers, Civil Service, NHS, Police, Fire, Armed Forces, Local Authorities etc.
We know they that much of them do a great job but the pension that they receive for what they contribute is disproportionate.
This is an unpopular view we know, but did you know that only 40% of the UK's population actually contribute to the wealth of this Nation? The other 60% either do not work at all or work for 'the State'.
This is why the UK is struggling to afford the upkeep of benefits.