Quote:
Originally Posted by Damien
The Government probably needs to find a way to incentivise saving for private pensions more. They're doing that Workplace pension scheme which is a good idea albeit the contributions forced are very low and therefore not enough on their own. Not sure what could be done other than existing tax relief on contributions? Maybe you get NI back too and then those contributions are not taken out when you receive the pension in the way the tax is taken back.
|
Insentivising a private pension isn't the problem ,wage levels are the problem .People on minimum wage will find it impossible to pay for a private pension that will keep them in retirement and since the number of people on or very near minimum wage is increasing then despite the govs plans to shuffle retirement age about we will still have a very large portion of the work force claiming benefits to top up a pension