Whats the difference between deposits held in a bank than savings help in a pension fund? Sounds a bit like the kind of question my grandkids might ask in playground joke. You know whats the difference between a cabbage and a loaf ? No good sending you to the shops is it? The difference is though that my first question is deadly serious. Our government does not seem to know the difference. They can spend £ billions supporting the deposits from banks and so they should guarantee 100% but when it comes to failed pension funds many of which have failed through their policies at best they can guarantee is half. The standard reply seems to be, we have raised X number from poverty by the introduction of pension credits. Confused I am.
I got to thinking a little more about my earlier post when Pat was criticising me for spending to much time blogging. What she did not realise was most of it I had spent online trying to find her Christmas present.