Argentina

[BCram]

Today?s taxpayers pay for today?s pensions.

I am afraid Noah that you are spot on. No money has been saved onto a fund for the payment of state pensions. Every state pension is paid out of the current taxes raised each month.
Think there is no need to give highly paid people advantages when it comes to tax relief on pensions but there was pandemonium when they put a low limit on how much NHS consultants could pay into their pension pots. They had to pay so much more tax because they could not stuff their pension fund full of cash they did not need, or could not spend.

[noahrab]

I am afraid Noah that you are spot on. No money has been saved onto a fund for the payment of state pensions. Every state pension is paid out of the current taxes raised each month.
Think there is no need to give highly paid people advantages when it comes to tax relief on pensions but there was pandemonium when they put a low limit on how much NHS consultants could pay into their pension pots. They had to pay so much more tax because they could not stuff their pension fund full of cash they did not need, or could not spend.

Pension should be means tested.

Don?t need it, don?t get it.