Pensions ‘shouldn’t be a government piggy bank’ says Altmann

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Following the news that the Treasury is considering a pension tax raid, life peer and pensions expert Baroness Ros Altmann raised her concerns. Speaking to GB News she slammed the idea as “dangerous” and moving the “goalposts”. She explained how the government must sort the pensions system out in Britain as the UK will see a massively aging population over the next decade.

Baroness Altmann said: “I think this is potentially going to damage our pension system.

“When what we need is to be rebuilding pensions because we have got a very rapidly aging population,

“In the next few years, we are going to see far more pensioners coming through.

“And you can’t have a stable and reliable, sustainable pension system if you keep moving the goalposts and that is what the government keeps doing!

“It keeps changing the rule every minute – that is not how to run a successful pensions policy and it is certainly not politically going to do the government any favours.

“The lifetime allowance has never made sense to me.

“If we limit the amount that people put into their pensions each year, why do we need to punish them if it performs really well – It makes it impossible to plan if you keep changing the goalposts

“Many people have very little above the state pension and that brings in a big problem if you are trying to attack the state pension.

“The whole area of pensions shouldn’t be some kind of government piggy bank which you raid whenever you feel like a problem is coming up!”

More to follow…

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