Pension pinchers

10:08am Saturday 19th May 2012 in Letters

THE printing of money by the Bank of England has reduced the value of our savings and pensions, as if we did not have enough to put up with.

The Government say that, because we live longer we must work longer and increase pension contributions. The truth is we are lucky to be healthier and live longer, but it follows that working longer (say five years) we contribute five years longer without increasing contributions, while by the same token we cannot draw our pension as long, thereby reducing the total amount we draw.

The Government hopes to have the toffee and the halfpenny and save ten years in pension money which, I suppose, is as usual.

Dennis Barton, Woodthorpe, York.

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