In message
, at
07:53:05 on Thu, 21 Mar 2013, Man at B&Q
remarked:
But Brown did do a raid on UK *pension funds.

He did not raid any funds. He altered the taxation of the returns of
those funds.

But the funds were predicted to grow as a result of those "returns"
(which most people expect from 'investments') and the raid reduced the
net returns (increasing the treasury's take) and hence tore up any
earlier predictions about the final worth of these investments.

It was a tax on dividends which themselves were only a few % of the
fund.

Dividends are an important contributor to the growth in pension fund
value, especially for the sort of shares that big pension companies
"invest" in.
--
Roland Perry