Private pensions are a publicly subsidised gift to the wealthy | Phillip Inman

From the publisher

Private pensions are a privilege for the lucky few and a curse for everyone else. Sold as a saviour for what would otherwise be a ruinous old age, they have become pernicious financial vehicles that allow an older generation to hoodwink younger generations, who also seek security in their latter years. To make matters worse, saving by the better off is enhanced by state subsidies, widening the divide between rich and poor in retirement while driving a wedge between the generations. As John Healey scours the public finances for ways to boost spending on defence, social care (and the rest) before the autumn budget, he should put considering equalising the…

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