It is another legacy of Margaret Thatcher because she put the Pension Pot on the Stock Exchange. Margaret Thatcher had no right to do so because it was the people’s money and not hers.
As everybody knows the shares can go sky high which would be favourable to the pensioners or drop down low. It dropped down low with the Global Crisis and millions of future pensioners saw the value drop with successive wipe off the shares.
Only yesterday was another £52billion loss of shares’ value. The FTSE 100 index is at a four years low and with the oil prices still dropping there is no end to it yet.
So far the stock market has lost £160billion which will affect the workers’ pensions.
New rules allow the people over 55 to draw on their funds straight away. However, at the moment it has a sting in its tail. When you withdraw your pension pot an excessive fee will be charged. Chancellor George Osborne promised to reduce it but as all the promises it has to be seen to be believed and if how much.
As the old saying goes: “Never belief it until you see it in black and white and then look at the small prints”.
Regarding the heavy, constant drop of oil prices there has been no reflection in the energy tariff or in food prices. It would help the poor and, disabled and pensioners a lot.
Again the Government lets the fat cats bucket the profit and does nothing about it. There is a harsh winter coming this year and can Mr Cameron’s conscience see another 40,000, last year, die of hypothermia? If the winter weather, as forecast, will be worse than last year it will be even more. Does this Government not have any heart or compassion or conscience?
How does it feel, Mr Cameron, to be in full power and then receive reports of 40,000 deaths of hypothermia or 2,400 deaths of disabled people because their Disabled Benefit was withdrawn?
Do not tell us you do not know because we would not believe it. Credit us with some brain and knowledge.