PRIVATE PENSIONS UNDER ATTACK

Well, they had a go at public sector pensions and now the UK government want to have a pop at the private sector.

This chap, Steve Webb, who is the Pensions Minister, wants to link the increase in private sector pensions to the Consumer Price Index (CPI) rather than the Retail Price Index (RPI). Now you might not think that this amounts to much in the overall scheme of things. It's just another way of measuring inflation, isn't it? Yes and no, but funnily enough over the last 20 years the CPI is nearly always lower than the RPI. This means that the increase in your private pension is going to be less than it has been in the past. According to those clever accounting people at KPMG, this could save the private sector pension providers a whopping £100 billion.

Pensions in general seem to be under attack from all sides under the current austerity measures that are being introduced. Maybe you should write to your MP, or if you think you're going to need a bit more cash in your retirement you can get some ideas from Retirement Revenue. Click on this link: http://retirementrevenue.co.uk

Be well.