[Sephiroth]

Originally Posted by Chris

I call Godwin’s law.

I’m also disappointed that someone who comments so forthrightly as you do on economic matters apparently doesn’t understand that pensioners are not being paid the money they have saved. Current pension liability is paid out of current income, whether that be tax in the case of the state pension, or contributions and investment income in the case of private pensions.

You did not save for your pension, you paid out for your parents’ and your grandparents’, and in return the benefits you would get when the time came were defined for you. Defined, as it turns out, in a way that was totally unsustainable.

The baby boom generation has, by a mixture of luck and design, contrived to have its welfare and its pension benefits defined, whereas those coming up afterwards have only their contributions defined, and lack the inflationary circumstances and the access to the housing market that might make up some of the shortfall.

Much of the financial well-being experienced by boomers was the result of the politics of their generation. Redressing the balance must be the politics of the present generation. I would dearly love to see a genuine, one-nation Tory government lance that boil, because if it doesn’t, all it will take will be a lot of young, angry people suddenly to realise they might try voting for someone else to have a go. Then you’ll properly understand what the politics of envy looks like.

I've paid into my pension(s) all my working life. The only pension that is not entirely funded by me is the state pension. However the SERPS supplements have been funded by me. Thus the bulk of my pension (I still work, btw) is occupational.

I don't disagree with you that the balance must be redressed, but not by any form of confiscation (however it is dressed) on people who are here by reason of the date they were born.

No political party in present circumstances can redress this balance unless wealth is created to fund taxes that fund public services.

And, btw, if I were to have contracted Alzheimers pre 1992, the state or NHS would have taken care of me. Now it won't; who can tell what will happen to the next generation if the balance does ever get redressed.

What I won't stand for is an implicit criticism of my generation. It is profoundly unfair and I'ms surprised that it comes from you above most in this debate.