Quote:
Originally Posted by garinda
I certainly wouldn't class myself as a Blairite, but I didn't post in that particular thread because I probably didn't understand it fully enough.
As far as I could make out, these were private pension schemes that aren't going to pay out. I agree with the government's decision not to bank roll those people's pensions with tax payer's money. Every effort, both financial and supportive, should be made available for those people to get help, which as far as I can make out, the government are doing. Lloyd's names weren't bankrolled by the tax payer's when they lost a lot of money in the 80's/90's, and to me this is no different.
Like I say, perhaps I haven't understood it fully, so forgive my ignorance if I'm way off the mark.
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The Conservatives handled this all much worse than Brown. Their suggestion was to bankroll the lost pension schemes from all current pension schemes. Cameron tried to play clever and suggest it was only current pension surpluses within those companies he was going to use but the Pension Industry told him that there were no surpluses, those so called surpluses are always reinvested as part of current pension scheme payments and the removal of so-called surpluses would in fact reduce the pension payments to their members pension schemes. Pension schemes like mine. Cameron acted really stupidly for quick political gain and it wasn't Labour that embarrased him the most, but Pension Companies.