!!! EXPLODING THE MYTH !!!

Too many living longer and too few to generate finance that will support a fair basic STATE PENSION in future years! Government has embarked on a brainwashing exercise designed to make younger people provide more for their twilight years and work longer. This is part of the price to pay for possibly RE-LINKING PENSIONS TO AVERAGE EARNINGS in 2012, or maybe 2015 instead of NOW. What happens if New Labour is defeated at the next General Election is any-body's guess.

Some Private Pensions have suffered from Financial Malnutrition and Exchequer Sticky Fingers, leaving ordinary workers with reduced returns or nothing at all.

But what about the I'm-all-right-Jack Executives/Directors and MP's? A report in the Wolverhampton Express & Star 6-September 2006 covered a TUC study showing Directors from the biggest companies have amassed pensions worth almost £1 billion, this being 40 times more than most Staff pensions. The proportion of directors with final salary schemes had remained at 80% in the past 3 years even though many firms had closed them for their workers.

How convenient that MP's looked after their own Index Linked Pensions a few years ago before highlighting problems for the rest of us!

PROBLEM - IS IT IN THE MIND - A FIGMENT OF POLITICAL IMAGINATION - or - FOR REAL?

Take a good look at projected figures below for a National Insurance Fund in SURPLUS.

Source quoted: Government Actuary, National Audit Office.

10 March 2007 - Revised figures from previous estimates are £38.4 billion (actual) - £3.8 billion greater than original forecast.

So Mr (I want to end means testing for all our elderly people while I am not in power) BROWN says that we cannot afford a decent basic State Pension! The message to him is "Go and hibernate or, in plain English - GET LOST". Affordability - the evidence is here. No question that the minimum income level should, could or ought to be paid to ALL pensioners - it has GOT TO BE - NOW. So stop the messing around and dithering - get moving and try being POSITIVE and FAIR for once. We are not begging - WE ARE DEMANDING.

Latest information is from NPC 'The Message' Spring 2007 edition - quoted source being Government Actuary's Department.

Cost of running the system will be nearly £1.5 billion for 2005/06 and the Actuary estimates that a surplus of £11 billion would be an adequate limit.

In 2004 MP's basic salary was £57,485 and it is from this group, who have once again asked for your vote so that they may represent you in Parliament, some are following a dogmatic government stance that says payment of a FAIR BASIC STATE PENSION is unaffordable.

This compares to a single pension of just £4,139 - a gap of £53,346- 15 years ago the difference was £21,840.By 2008 the gap has now risen to a whacking £57,104 - greed without scruples.

Their future is secure - your future is in their hands.

Let us pray.

PRUDENCEis a wonderful constraint if applied realistically and should not be counter-balanced by misguided OBSTINANCYthat destroys FAIRNESSand projects an image that some groups are more equal than others.

What do you think?

Confront your MP - Ask questions - Demand answers.

Note: Statistics are continually changing and latest information should be requested from NPC London.

Modified November 2008 & March 2009.