From: "Layezee" 
Newsgroups: uk.finance
Subject: Re: Pensions Rip-Off
Date: Mon, 16 May 2005 20:17:42 GMT

> If you think you can do better than annuity's (and you probably can), then 
> change it to a SIPP (self invested personal pension) and go into draw down 
> (ie, you don't buy an annuity).  You can keep this up until you're 75 at 
> current rules, and this may be extended.
>

Why is it the only long term method of saving and getting any tax advantage 
thru' tax relief is by putting into a pension fund that is at the mercy and 
whim of the stock market or some other SPV where "past performance is no 
guarantee of future performance".  If the government allowed people to put 
cash into an SPV that still locked up the money until retirement, but 
provided a tax free interest at least the base rate and allowed tax relief 
similar to existing pension arrangements, I am sure millions of people would 
be far more interested in saving for their retirement then they are 
currently.