Voting No secured access to the worst pension in the developed world
Yesterday I noticed a few sites sharing the latest OECD pension report showing that the UK has one of the worst mandatory pensions in the developed world.
When you look at the percentage of earnings received in retirement compared to earnings while still working, the average UK citizen is badly served by the mandatory pension system.
If you look at the graph for men, only South Africa is worse off and the situation is similar for UK women.
On seeing these reports, one couldn’t help but think of headlines like this from 2014.
Or quotes like this from the likes of Margaret Curran.
The experts are clear – if we leave the UK we would have to make massive cuts in public spending. This would hit those who have the least the hardest.
Leaving the UK would be a leap in the dark for those reliant on benefits or their pension.
By saying no thanks to separation we can make sure that we protect the most vulnerable in our society from the massive cuts that would have to happen in a separate Scotland.
It’s fairly sad that this scaremongering was ultimately designed to save one of the least generous pensions in the developed world.
The same Daily Mail that printed Brown’s pension scare story printed this yesterday.
What a dearth of imagination and ambition was shown by Better Together back in 2014. Voting to have a meagre pension subsidised by London was the best option they could dream of. It didn’t occur to them that perhaps a Scotland in control of its own immigration, tax and economic policy, could perhaps reverse the demographic issues?
As for Margaret Curran’s quote about benefit cuts, well lets not even go there today.