USA to cut Pensions
It seems every Government around the world is looking to attack pensions to reduce their deficits. It is easy to attack something that people to consider to be a long way away but surely the Governments are just causing long term misery unless people wake up and start planning to look after themselves. The latest attack is from Obama who is prepared to offer cuts to Americans’ pensions to strike a deficit deal with Republicans, a White House official announced yesterday.
The proposal would cut the deficit by $1.8 trillion (£1.2 trillion) over 10 years.
In the UK , civil servants from government departments and driving test centres have taken part in a strike over pensions pay, jobs and terms and conditions.
The Public and Commercial Services (PCS) union said the half-day strike caused “massive disruption”.
The Pensions crisis is set to continue. I just hope individuals realise that they have to plan for themselves before it’s too late.
Nigel Green deVere Group
Blog written April 6th