Over recent weeks I have noticed a couple of particular publicity campaigns, both, beyond question, either directly supported by or otherwise encouraged by the current government. I am sure I am not alone in having noticed the conflicting, contradictory even, message these two ‘campaigns’ espouse.
On the one “I am in“. The television campaign to encourage people in employment to contribute into a works’ pension scheme. (I have for very long felt discomforted with that word, “scheme”. As in ‘scheming’ and underhand and a con or rip-off? Unhelpful – or maybe not! – undertones as to meaning.) Save for your retirement. Good idea. Who could argue against that?
But, on the other, the contradictory and very recent publicity of the relaxation of the pre-retirement ‘cashing-in’ rules enabling a pension-saver to withdraw cash from their “pension pot”.
Save for your retirement and build up a ‘pension pot’? Cash in your ‘pension pot’ savings before you retire? Same source telling you to do both?
Personally, I am left thinking that this current government is desperate to give a boost to consumer spending and, like so much else of the asset-stripping it is actively encouraging and permitting, looking well outside the two-dimensional box to release non-governmental, non-interest-bearing ‘loan’-type, locked-in cash. Good for the government. But good for you? Look out for the rash of Lamborghinis on our over-congested and pot-hole strewn, ill-maintained roads!