shoot us o.aps its cheaper
Oct 17, 2014 8:15:36 GMT
Post by Admin on Oct 17, 2014 8:15:36 GMT
The state pension should be cut in half and taxes lowered so savers can invest more money privately, a report has suggested.
The Institute of Economic Affairs, a right-leaning think tank, said the Government was "overstretched" in trying to fund "unsustainable" retirement payouts for Britain's ageing population.
It said the Government should abandon its plan to pay around £155 a week "flat-rate" amount to future pensioners who have a full national insurance record.
The payout should be cut in half, it said, to around £75, and workers given annual tax rebates that vary according to age
A worker aged 40 would receive around £3,000 a year as a result of paying lower national insurance, the think thank said.
