Ebook Download The Great Pensions Robbery: How New Labour Betrayed Retirement, by Alex Brummer
When getting the e-book The Great Pensions Robbery: How New Labour Betrayed Retirement, By Alex Brummer by on-line, you can read them anywhere you are. Yeah, even you are in the train, bus, waiting listing, or other locations, on the internet e-book The Great Pensions Robbery: How New Labour Betrayed Retirement, By Alex Brummer could be your good friend. Each time is a great time to check out. It will enhance your expertise, fun, amusing, lesson, and experience without spending even more cash. This is why online publication The Great Pensions Robbery: How New Labour Betrayed Retirement, By Alex Brummer comes to be most wanted.
The Great Pensions Robbery: How New Labour Betrayed Retirement, by Alex Brummer
Ebook Download The Great Pensions Robbery: How New Labour Betrayed Retirement, by Alex Brummer
Envision that you obtain such specific outstanding experience and expertise by only reviewing a publication The Great Pensions Robbery: How New Labour Betrayed Retirement, By Alex Brummer. Exactly how can? It seems to be better when an e-book could be the very best thing to uncover. E-books now will appear in published as well as soft file collection. One of them is this book The Great Pensions Robbery: How New Labour Betrayed Retirement, By Alex Brummer It is so normal with the published books. Nonetheless, many individuals in some cases have no space to bring the publication for them; this is why they cannot check out the e-book any place they want.
Why should be publication The Great Pensions Robbery: How New Labour Betrayed Retirement, By Alex Brummer Book is one of the easy resources to try to find. By obtaining the author and also theme to get, you could locate so many titles that provide their information to acquire. As this The Great Pensions Robbery: How New Labour Betrayed Retirement, By Alex Brummer, the impressive publication The Great Pensions Robbery: How New Labour Betrayed Retirement, By Alex Brummer will provide you what you need to cover the task target date. And why should be in this website? We will certainly ask first, have you much more times to go with going shopping guides as well as hunt for the referred book The Great Pensions Robbery: How New Labour Betrayed Retirement, By Alex Brummer in publication shop? Many individuals could not have adequate time to find it.
For this reason, this web site provides for you to cover your problem. We reveal you some referred publications The Great Pensions Robbery: How New Labour Betrayed Retirement, By Alex Brummer in all kinds as well as themes. From common author to the renowned one, they are all covered to provide in this web site. This The Great Pensions Robbery: How New Labour Betrayed Retirement, By Alex Brummer is you're searched for book; you simply need to visit the web link web page to display in this web site and afterwards go for downloading. It will not take sometimes to get one publication The Great Pensions Robbery: How New Labour Betrayed Retirement, By Alex Brummer It will rely on your net link. Simply acquisition as well as download and install the soft data of this publication The Great Pensions Robbery: How New Labour Betrayed Retirement, By Alex Brummer
It is so very easy, right? Why do not you try it? In this website, you could likewise locate other titles of the The Great Pensions Robbery: How New Labour Betrayed Retirement, By Alex Brummer book collections that could have the ability to assist you discovering the best remedy of your task. Reading this book The Great Pensions Robbery: How New Labour Betrayed Retirement, By Alex Brummer in soft data will certainly also reduce you to obtain the resource effortlessly. You could not bring for those books to somewhere you go. Only with the device that constantly be with your anywhere, you could read this book The Great Pensions Robbery: How New Labour Betrayed Retirement, By Alex Brummer So, it will be so promptly to finish reading this The Great Pensions Robbery: How New Labour Betrayed Retirement, By Alex Brummer
No issue shames the New Labor government elected in 1997 more that the systematic destruction of Britain’s pensions system. When Labor came to power, some five million workers enjoyed "gold standard" defined benefit pensions—which paid them a percentage of final salaries—and Britain had the most robust system of private retirement provision in the world. That number has since collapsed to 1.6m, leaving millions of Britons facing an uncertain future and, in many cases, the grim choice of working until they drop or an impoverished old age. The past dreams of a cottage on the South Coast or wintering on the Med or in Florida have long gone. Award-winning journalist Alex Brummer goes behind the scenes to explain exactly what has been going on. What emerges is a shocking story of cynicism and inaction, in which a government bent on penny-pinching, a civil service cowed in to submission, and individuals more interested in their careers than public service have all taken a part in fatally undermining a 100-year-old system. It's also a story of breathtaking hypocrisy, where those in charge have feather-bedded their own pensions while destroying those of ordinary people. And, as Alex Brummer convincingly argues, we're only just starting to live with the appalling consequences.
- Sales Rank: #13866385 in Books
- Published on: 2010-03-01
- Released on: 2010-05-10
- Original language: English
- Number of items: 1
- Dimensions: 9.50" h x .70" w x 6.00" l, .71 pounds
- Binding: Paperback
- 226 pages
Review
"An easy read with a strong message" Financial World "Written in the style of a gripping thriller" Pensions World "An impressively detailed examination ... also well worth a read for its breezy history of the government's role in pensions, from the creation of the first state pension in 1909 to the present day" Pensions Week
About the Author
Alex Brummer is a financial journalist and commentator. After a stint at the Guardian he moved to be city editor at the Daily Mail in 2000. He has won prizes both as a foreign correspondent and economics writer, including Business Journalist of the Year 2006, Newspaper Journalist 2002, and Best City Journalist 2000. His books include Hanson: A Biography, Weinstock: The Life and Times of Britain's Premier Industrialist, and The Crunch.
Most helpful customer reviews
2 of 2 people found the following review helpful.
Splendid study of capitalism's failure to support pensioners
By William Podmore
Alex Brummer, City editor of the Daily Mail, has written a superb account of Britain's current pensions crisis and its causes. Before 1997 Britain's pension funds were solvent, with strong cash flows. £830 billion was invested in private pensions to meet future pension payments, more than the rest of the EU put together. We had the best occupational pension system in Europe. 90 per cent of private occupational pensions were final salary (defined benefit).
What caused the current pensions crisis? In 1997 the Labour government decided to remove the tax credit on dividends received by pension funds, which had allowed the funds to receive dividend payments tax-free. This was worth £5-6 billion a year. A fund receiving an £80 dividend, for example, could receive £20 of tax relief, which could then be reinvested in the fund to build up endowment for the future.
The Treasury and independent actuaries warned that this decision would push pension schemes into deficit, close down many occupational pension funds, and cut pensions. Brown ignored these warnings.
We now have a broken system of private provision and a state pension that is among the worst in Europe, supported by humiliating and complex means-testing. Labour opposed restoring the earnings link for the state pension. Two million pensioners are trapped in poverty.
By 2002, Britain's pension funds were paying pensioners on average 28 per cent less than in 1997 and final salary pension plans were nearly dead: two-thirds had been closed to new members. Most firms that cancelled these plans moved future retirees into money purchase schemes, shifting the risk from employers and shareholders to employees.
Thus Labour obeyed European Union diktats. The European Central Bank in April 2003 demanded `reductions in public pensions' and `measures to raise the effective retirement age'.
Later, Brown proposed a pension tax credit guaranteeing a minimum income, saying that it would cost £2 billion in 2004-5. His advisers pointed out that since half the population would at once be eligible for the credit it would cost more like £10 billion a year. Brown said, "We're only committed to pay the credit for the next five years. We can change it after that." The questions came, "But what about after? People save for 20 years for their pensions. They won't believe in you and they won't save. And what happens to their pensions after five years?" Brown ignored them.
The value of assets in life assurance and pension funds fell from 176 per cent of GDP in 1999 to 128 per cent in 2008. In January 2009 the Office of National Statistics calculated that the deficit in defined pension schemes - the heart of Britain's occupational pension system - was £194.5 billion.
The government also refused to bail out Equitable Life's one million plus pensioners, who include Tesco and Post Office workers, who lost out due to the government's regulatory failure and maladministration, although it bailed out depositors with RBS and Icesave.
The government bailed out the banks, but ripped off all our pensioners.
The Great Pensions Robbery: How New Labour Betrayed Retirement, by Alex Brummer PDF
The Great Pensions Robbery: How New Labour Betrayed Retirement, by Alex Brummer EPub
The Great Pensions Robbery: How New Labour Betrayed Retirement, by Alex Brummer Doc
The Great Pensions Robbery: How New Labour Betrayed Retirement, by Alex Brummer iBooks
The Great Pensions Robbery: How New Labour Betrayed Retirement, by Alex Brummer rtf
The Great Pensions Robbery: How New Labour Betrayed Retirement, by Alex Brummer Mobipocket
The Great Pensions Robbery: How New Labour Betrayed Retirement, by Alex Brummer Kindle
Tidak ada komentar:
Posting Komentar