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November 2005


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December 2004

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October 2004

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September 2004

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August 2004

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June 2004

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Uploaded: 05 July 2003

Pensions deceit and disgrace.

Source: The Daily Mail. Thursday July 3, 2003

Labour has messed up the pension system, and their latest move to allow British people to work till they are 70 is a cover-up for a financial disaster.

Stealth taxes imposed by Gordon Brown have cost the pension industry 100 billion, leaving them unable to cope with the stock market slump.

However, last year MP's voted themselves a 25% rise in pension payments. That means that instead of picking up one fiftieth of their 55,118 a year salaries for each year of service, they will get one fortieth. 

This spring an examination of the Commons pension fund found it was 25 million short of the funds it needed to cover retired politicians' lavish benefits. So MP's voted themselves an extra 25 million from tax payers to cover the shortfall.



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