Friday, April 13, 2012

"UK Council Pension Funding improves by £37 Billion in one year!" TPA

For some reason or other the Tax Evader's Alliance (which is also known as the Tax Payers Alliance/ TPA) did not use this post's title for their "report" published yesterday about Council Pensions (the LGPS - local government pension scheme) Funding. Instead they continued with their selective scaremongering about so called "New Research" and a "£54 billion "black hole".

The truth of the matter is that funding of Council pensions has improved by a colossal £37 Billion in just over a year. You would have thought that this would be a cause of celebration if you were genuinely concerned with tax payers exposure to pension liability?

Of course the the way that all funded pension funds assets and liabilities (private and public) is calculated is barmy. But that is another story. The fact that they don't appear to know or care shows them up to be the extreme right wing "nasty party" Tory front that they pretend not to be.

So desperate are they to discredit the pensions of cleaners, lollypop ladies and town hall clerks that they compared (the totally unfunded) Police Officer pension contribution rates with the LGPS. What rubbish? The schemes are chalk and cheese. Council pensioners would love to retire with a full pension after 30 years service and many would pay more if they could do so. Maybe they should have titled their report "TPA want all Council workers to retire at 50"!

The real nonsense about the Tax Evaders think tank 4 thickos is that they say nothing at all about the real scandal in British taxation. The individual and corporate tax cheats who cost the UK £70 billion a year (every year - repeat £70 Billion).

Maybe because some TPA directors don't pay any UK tax and some of their funders are serial tax evaders while others simply want to privatise the LGPS so they can rip it off?
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