"Derek ^" wrote in message
...

However a small company pension scheme like mine is a 35-40 year
contract. Mine was set up on a tax free basis, tax was to be paid when
you realised the investment, which IMO is the correct way to do it. If
the funds go down in subsequent years do you imagine GB will
re-imburse the pension funds? Eventual pensioners will pay income tax
on their pensions at the going rate, but under GB the pension funds
themselves will already have been taxed on the fruits of their
investments, before the pensioners get their pensions and pay PAYE on
them. This means that pensions will attract tax treatment which is
less favourable than earnings paid under PAYE.

Wherein lies the incentive for workers to make legitimate provision
for their retirement?? Or are we all supposed to be content with going
on the parish?

No such thing these days.

We have the state pension, amounting to more than £150p/w - it doesn't sound
much but we don't spend it all.

When you don't have a mortgage and children and grow some of your own
vegetables, have a couple of hens for eggs, make your own food mostly (we've
done that for ever) and otherwise buy excellent food direct from the
supplier and make and install everything else (this IS a d-i-y group) you
don't actually need all that much to live on. I mean live - not exist.

We do have a large car and a scooter, we have a bottle of decent wine every
evening to accompany our superb meal, we want for nothing. We certainly
don't want to visit Benidorm.


Effectively that is the case already, if a married couple don't retire
with a pension fund exceeding £180k they might just as well have paid
the tax on it and ****ed it away on 1 decent cruise per year and 3
short breaks in Benidorm, for 40 years. They would be no worse off.

Rubbish.

This is , of course how Labour get their votes, from Mr/Mrs
Braindead-Scum

We've never voted New Labour - but we think for ourselves and are not
influenced by television, newspapers or even newsgroups!

And we don't moan.

Mary