What a lot of twaddle being spoken about pensions. Its all basically the Governments efforts to cut spending and get us out of this mess.
What they are telling us is plausible, not a lie but its not true!!
It is this 1) pensions are in a state because Gordon Brown raided them when he was chancellor. That was your savings pot!!
2) Are any pension funds bankrupt - NO!!
What they are is not doing their sums properly. Its all to do with how the Actuaries tell them to FORECAST the future. No one knows what will happen do they.
Simple - people pay into a fund, they invest it, pensioners get a pension.
So as long as money coming in plus whats invested is more than they are paying out OK! but the rules need changing 'cos they have to forcast what they're going to pay out. If they change this to be more realistic then we'll all be better
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