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Stop government intervention in private pension payments

Comment 1st July 2010

The Labour government raised the minimum retirement age to 55 years. This affects even private pension plans. Thefore, government legislation about the age at which private pension plans may be paid out should be repealed.

Why does this matter?

The age at which a private pension plan pays out should not be any of the government's business. It is – or should be – an entirely private agreement between the buyer and the seller of the pension plan. I has chosen the age of 50 for payment of my private pension. Last year, I received a letter from the insurance company managing my pension plan saying that due to new government legislation, that age had now been raised to 55. And there was absolutely nothing I could do about it, even though it was my money at stake. That is not how things should be in a country that claims to be a defender of freedom!

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