I wrote a couple ofweeks ago that the many changes in the pensions system looked to me among other things like the laying of the groundwork required to abolish final salary pensions in the public sector.
I wasn't at the time actually thinking about the state pension most of us are entitled to on our retirement. But if you think about it, this is about as good as defined benefit pensions get. Whatever you pay in (via your taxes), you get back a perfectly reasonable inflation-linked annuity payable for life.
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