Many a government has tried to ‘simplify’ pensions. It started 40 years or more ago when personal pensions were invented. Knobs and whistles were added by subsequent chancellors, then came nice, simple ‘stakeholder pensions. Then Gordon Brown introduced ‘pensions simplification’, then came ‘pension freedoms’ then came auto-enrolment pensions. And, that’s right, every bit of simplification simply added another layer of complexity, as all the other, more or less simple pensions are still there and can’t be got rid of. So everyone’s more confused than ever. The only good news? Some of them call a financial adviser…
“Why you should never retire”
On my 50th birthday, I will always remember, amongst the card or two I received was a letter from Saga’ who’d managed to find out my age through the wonder of the internet, and were pleased to tell me I now qualified to join my parents and go on holiday with them.