Building on his previous warnings, Richard is supporting The Telegraph's campaign to stop the Government from having any say in how your pension is invested.
Speaking out against this new measure in the Pension Schemes Bill, Richard Fuller, Shadow Chief Secretary to the Treasury commented:
If you attended one of my town hall meetings during the last election, you will have heard me raise concerns that a Labour Government , when they had raised your taxes as far as they could and had borrowed as much as they could, would then come after your pension.
This is what Socialists do. They are addicted to taking other people’s money so they can spend it on what government wants, not how the people who earned their money want it used.
And this government - in addition to its incompetence - is a Socialist government, so their new Pension Schemes Bill includes a new power for the government to direct where your pension savings are invested.
At a stroke, the principle of pension trustees ensuring the money that you save for retirement must get the best secure return, is gone.
This Bill would allow the Chancellor, Rachael Reeves, to direct that money into whatever scheme she sees fit. The Chancellor's choices to date have done enormous damage to the country's finance, would you trust her with your retirement savings?
Fancy your chances with propping up HS2 or, for those of you with a longer memory, how about a stake in this great new British winner, De Lorean?
Perhaps more likely, your pensions will be directed to support Ed Miliband’s quest for more solar and wind farms.
My colleague, Helen Whately is leading Conservative opposition to this attempt by the government to grab a slice of the £400bn people have put away for their retirement. We believe the long standing fiduciary duties of pension trustees are critical and we will defend your pension from the grasping hands of this government.
You can learn more about The Telegraph's "Hands off our Pensions" campaign at https://www.telegraph.co.uk/hands-off-our-pensions/
To read more about Richard's previous thoughts on this, please visit https://www.richardfuller.co.uk/news/richard-warns-labour-government-coming-after-peoples-pensions-next
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