I'm sorry that you will never experience any benefit from this labour policy. Try not to be jealous though.

It's not a policy it's another broken promise. 

Oh we have a problem with people breaking promises now?

weird how things turn out

Same old Liebour as it always was eh 

weirdly they still manage 2 b more honest and less corrupt than the current lot

So cheering on somebody who debases his office by lying blatantly turns out to have adverse consequences?

who knew? 

Tend to agree with the OP. That a supposedly progressive party would happily subsidise the 1% just because they can't think of a better way to retain members of a profession is appalling.  At least the Tories are honest about helping the rich and screwing the rest of us. 

Heh. Had forgotten he said this.

The real problem in pensions is not a Tory government Vs a Labour government. It's the complete loss of trust in either party to implement and then stick to fair and sustainable long term tax treatment that allows employers and commercial providers and members to plan properly.

Still, better to U-turn to a progressive policy than be consistent and wrong. 

They'd be better off doing what I think the Tories may try and deciding that anyone with a large pension pot no longer qualifies for the state pension so they can use the saving to increase state pensions and keep a lot of the grey vote.

Might that lead to the same problem? As soon as people with decent pension pots near the threshold for a 'large pension pot', they'll stop working. 

Work one more day and lose 35 years of state entitlements. It's like crossing the Rubicon. I suppose you could opt out and pay into a normal annuity but what is the incentive?  

Having enough cash to stop working is the whole bloody point of working in the first place

If they want to retire they've earned the right. If they want to carry on they ought not to be put off by pension considerations.  

RR, yours (like mine) is a Catholic view of work, that it is a necessary evil that has to be tolerated.

Others (e.g. Lydia) take a Protestant view that work is intrinsically good, and they just want to carry on till they drop. 

Sietocho why would you stop working to get an extra £185 a week?

Completely irresponsible to use pensions as a political football and would be nice if for once there could be some cross-party consensus on a sensible way forward. People make very long term decisions with significant consequences based on this stuff 

You’re correct Mr Large. Labour should be completely ashamed of themselves but snakes aren’t capable of emotions.

Sietocho why would you stop working to get an extra £185 a week?

Give up the prize of £10,000 a year for life in exchange for some more years working!  

Set For Life is an annuity game which offers the chance to win £10,000 a month for 30 years. It launched on the 15th March 2019 and is played on Mondays and Thursdays, with eight different ways to win in each draw.

Set For Life was introduced because the National Lottery wanted to offer a new type of game which would provide a guaranteed income rather than a one-off prize. Known as an annuity lottery, it gives winners of the top prize a total of £3.6 million over three decades.

Not for me thanks. I'd rather slog my guts out in the office until I collapse at my desk. 

Barely anyone claims the state pension for 30 years though

I'm sure I'm not the only one who doesn't factor the state pension into their retirement.  I will work until I've got enough to avoid the retirement I would like without having to rely on that as we know that there's always a risk someone will try and make it means tested in the future.

Also 10k a month?

Very sharp!

I'm no dawn handbags

What would an annuity paying £10,000 for life with a triple lock cost in today's market?

Factor in stagnant growth, low interest rates, 10% inflation.   

Not sure you can get a triple lock, but circa £300k I would have thought. Obvs nobody buys an annuity because it's idiotic. Just drawdown into inflation-linked gilts if you are that risk averse. 

Give up your £300k triple-lock pension on the offchance that you might not get it anyway. So you can work a bit longer to amass a further £300k non-triple lock pension. Work a further 7 years x £40k contributions to get back what you have just given away. 

But it gets me out of the house. 

How much is state pension?