What About Common Sense?
There is another Budget tomorrow (Budget 2015). Sadly, the older I get the more cynical I become about whether these achieve anything. I shall be keeping clients posted in due course, but if the last Budget is to act as an indication, expect the unexpected… and as we have an election looming, expect a bribe.
I am concerned about pensions and the constant meddling by Governments of all persuasions. The point of pensions is to encourage people to save for their retirement, so that they are not dependent upon the State, something that would seem in stark contrast to “reforms” over the years. Pensions are meant to be simple, and frankly they could be. The fact that they are not is entirely due to politicians, not the pensions industry. Complicated doesn’t begin to touch the surface of rules that are designed by short-term thinking…. so I shall reserve judgement until tomorrow, once I can actually digest the information rather than rely on newspaper stories.