Quote:
Originally Posted by thenry
Why the uproar. It was to be means tested so those vulnerable would be protected.
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Because there are lots of pensioners who are asset rich and cash poor, especially those in the South-East and even more so in London. They can have a small property that is worth a great deal. They can also have large pension pots that maybe (because of the rules when accessed) don't bring in a large income. The means testing needs to be based on income not on assets, and income needs to be adjusted by region etc.
Would the cost to maintain and handle the new system outrun savings on just paying out to all?