Letters to the Editor - 23/01 - Pensions crisis, Best of Twitter

Pensions crisis

[Re: Brits Told: Save Six Times More For Your Pension or Face Poverty, yesterday]

Policy Exchange’s report highlights the pension poverty the British public will face unless a radical change in our savings culture occurs. But the shortfall of auto-enrolment is its mandatory nature, which drives apathy. Abolishing opt-outs will not solve the pensions crisis. So far, too much emphasis has been placed on regulation; instead, the government needs to incentivise employers to educate their staff so that they feel compelled to take action now, and have greater personal responsibility for their pensions.

Michael Whitfield, Thomsons Online Benefits

Through a myriad of different taxes, I pay over half my earnings to the state. I have to pay a sky-high mortgage due to decades of draconian planning restrictions. And if I do save, it is a near certainty that a broke future government will steal my savings at some point in the next 30 years. Am I the problem here or my government?

Dan Tubb

The last thing we need is compulsion – the problem is that the state has destroyed the motivation to save. Why save when the real return is negative, and you are still taxed on it?

Name withheld



UK unemployment falling sharply. Suggests current growth rates not sustainable. Time for higher rates.

Over 20 per cent rise in employment for over-65s, even though they form tiny percentage of workforce.

Even interest rates of 2 per cent now would be highly stimulative, very loose monetary policy.

Unemployment fall is tremendous news, especially given Labour legacy of mass unemployment.