Clear red water…..on pensions


People who know me also know that I hold the LibLabCon politicians in contempt. I think they are all, with very few exceptions,  arrogant people who couldn’t run a booze up in a brewery.

An interesting division has opened up on private pensions. George Osborne has allowed savers to use their pension pot as they see fit. No longer will they be forced into low-paying annuities. In the blue corner, Osborne dismissed fears newly retired people could “blow” their pension pot. He is of the opinion that people who have saved for a working lifetime will use their money responsibly. I agree with him but it doesn’t matter if they don’t act sensibly but put the whole lot on black at Monte Carlo.

In the red corner Ed Balls said to the BBC  “The question will be – will there be proper protections and proper financial education so people don’t make the wrong choices and end up running out of their pension pot well before their retirement ends”.

In a nutshell: Osborne wants pensioners to take responsibility for themselves and offers freedom of choice while Balls want “protections” (aka some Quango) to control what savers do.

The track record of the previous Labour Government shows that they are ideologically opposed to the subjects of this country making their own decisions on how they live their lives. They want to encourage dependency on the all-providing State. Remember all the adverts (and rising taxes) about alcohol and cigarettes? The children’s’ database? The explosion in CCTV? The “giving offence” law? Income tax credits? ID cards? The list is literally almost endless of ways they wanted to take away our freedom and constrain us to behave in State-approved ways. One fly in the ointment is they destroyed our economy and ran out of money during their watch.

My view is that if you want to eat a pound of lard a day while drinking 24 pints and smoking 100 cigarettes then it is your decision, you take the consequences. Likewise,  if someone decides that they want an old age existing solely on the state pension and to spend the money while they are relatively young, then it is their business and their money. I don’t think it is a wise decision but it is their’s to make. Their decision not yours, mine, an unelected quango’s or a patronising politician’s.

If you want an all-controlling State then vote Labour. You’ll also be getting the EU and the elimination of any democratic choice but, then again, you voted Labour so you can’t complain about that.

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About ReidIvinsMedia

After working for many years in Higher Education I've decided to drop out and join, eventually, the self-employed. Here I blog about my interests which include education, politics, backpacking, poker, photography and real ale.
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