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The truths they don't want you to read....

Saturday, October 21, 2006

Old age

Today I recevied details of my projected state pension, assuming I continue to contribute at the same rate for the next 21+ years. In other words, it's a wild guess, and a totally pointless piece of correspondence.

Clearly the Treasury are hoping that we will all save for our old age, and be less reliant on the State for a living income, but the policies are not joined up - surprise, surprise.

The Child Trust Fund is a worthless joke, that is only worthwhile for the really wealthy as a way of making pension provision for babies in a tax-efficient way.

Students leave College or University drowning in debt, and then have to fund enormous mortgages on the back of a property boom.

I'm comparatively lucky, having enjoyed a fully funded University degree, but I struggled to pay a mortgage and a sensible amount into my pension for a few years. How today's students can expect to put anything aside is beyond me.

Just to make me feel older and ready for my pension, today is a child's birthday and there will be ten little children running around the house in under an hour!

1 comment:

Child Trust Fund said...

Why do you think the Child Trust Fund only help the wealthy? I would have thought it would make more of a difference to the less well off. I'm from the UK and the system here works well I think. I'm pretty sure the system in the US works the same way.