Osborne's plan to rob the pensioners and top up the Treasury coffers

by Irn Bru Thu Mar 20, 2014 12:14 am

You no longer need to buy a pension annuity and you can now take all your pension savings in a lump sum but there may be administrative costs to be paid if you do.
But he will have 20% of what you have saved for in tax. And if you spend it which is what he is hoping for then he will tax you again.

Be careful - when it's gone it's gone.

Sneaky git.

by Guest Thu Mar 20, 2014 12:25 am

I know, they were talking about this as if it was a good thing. They haven't twigged about it getting taxed and they haven't twigged if you invest it yourself and the shares drop you are in trouble. Shares in some building societies have already dropped because of it. People will be tempted to spend it, and when they do, he'll have a share, even if it's only in VAT on what they buy with it.

by Irn Bru Thu Mar 20, 2014 12:47 am

It's a political budget which they hope will be enough to get them the pensioner vote and get them over the line and back into government - on their own.
It's all promises of what they will get IF they vote Tory but if that happens they will be back abolishing free television licenses and free travel for the very people they are supposed to be helping. It's a budget for pensioners who actually have savings and spare money to invest but it does nothing for the pensioners who exist only on the basic state pension.

by Guest Thu Mar 20, 2014 12:50 am

Spot on!

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Osborne's plan to rob the pensioners and top up the Treasury coffers

Osborne's plan to rob the pensioners and top up the Treasury coffers

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Re: Osborne's plan to rob the pensioners and top up the Treasury coffers

Re: Osborne's plan to rob the pensioners and top up the Treasury coffers

Re: Osborne's plan to rob the pensioners and top up the Treasury coffers