UKIP Newbury & Reading Branch Pensions Leaflet.

WHAT THEY DON'T WANT YOU TO KNOW ABOUT YOUR PENSION!

EXTRACTS FROM A REPORT BY DAVID LAMB.
UK INDEPENDENCE PARTY Prospective parliamentary candidate for Reading East.


All State pensions are what are known as ‘pay as you go’, that means there is no pot building up to pay out future pensions. You pay your National Insurance but there isn’t a kitty with your name on it.

Pensions are paid out of the NI contributions of those still working and topped up with payments from the government, (that is the tax payer).

However, the big difference is that on the other side of the English Channel state pensions have been much too generous. To make matters worse the employers’ schemes were Pay As You Go as well so they have very little invested in pensions.

The result is that the assets held in pension funds, as a percentage of Gross Domestic Product, (GDP as economists call it, is the value of all the goods and services a country produces in a year), in the big four European Union economies: -

UK = 74.7%, Germany 5.8%, France 5.6%, Italy 3.0%

And the other countries of the EU15 are: -

Austria 1.2%, Belgium 4.1%, Denmark 23.9%; Finland 40.8%; Greece 12.7%; Ireland 45%; Luxembourg 19.7%; Netherlands 87.3%; Portugal 9.9%,
Spain 3.8%; Sweden 32.6%.

With regards to State pensions, our liabilities amount to 20% of GDP.

The other three main EU economies all have state pension deficits greater than 100% of GDP.

So you can see that the UK is a lot better off than the others who have more than five times our state pension debts.

Projections by the Ageing Working Committee show that the European Union will have to increase spending on state pensions by 27.9%.

The UK on the other hand is projected to have a fall in spending from 5.5% to 4.4%.

In March 2000 at a meeting in Lisbon the EU Council of Ministers decided on a ten-year plan to solve the European Union’s problem.

They decided that they would expand the EU economy by 3% a year and increase employment to 70%

In December 2004, an EU report found that half way through the plan, no progress had been made.

Employment had risen from 61% to 63% but was falling again and the 3% annual growth has not been achieved and will not be achieved in the next three years.

One of the quick fixes proposed was to increase immigration to restore the balance between workers and pensioners. That is now looking desperate as a new EU study says that we need to increase the population of the EU from 400 m. to 1,100 m. by 2050. In the UK alone we need 10 million more immigrant workers.

However, there is one country that has exceeded the Lisbon Agenda targets:-

THE UNITED KINGDOM.

Our employment rate has reached 74.6% and growth is expected to run at between 3.0% and 3.5% for the next 2 or 3 years.

So Where’s the problem?

The House Of Commons Select Committeeon “Unfunded Pension Liabilities in the European Union” in 1996 stated;

“UK Government borrowing is equivalent to about £5,000 for every man, woman and child
in the country.If we add the cost of our pension liabilities the debt would increase to approx. £9,000. If we then add the cost of the European Union’s pension liabilities then the debt would increase to £30,000.

“As the UK's outstanding public pension liabilities are substantially below those of other EU members, there would be a risk that British Taxpayers could be called upon to help finance the pension obligations of the EMU members”.

Their words not ours!

To balance the books our Chancellor, will have to cut spending or increase taxes to 60%. He will have no choice!

Inside the EU we face the destruction of our economy, severe poverty for our pensioners and the rest of us will not have the means to save for our own retirement.

The report that this leaflet is based on shows that outside of the EU we can, not only solve our pension problems, but even increase pensions to £115 single, £172.50 for a couple.

Tony Blair has promised us a referendum on whether or not we accept the European Constitution. The outcome is immaterial as we will still be in the EU and previous treaties will have us tied up anyway. New Labour, The Conservatives and the Lib/Dems are all in favour of membership of the European Union and are prepared to accept the consequences.

Even if you don’t normally vote because you are disenchanted with politicians this is an issue that will affect YOU personally.

With huge tax increases to come you will not be able to save enough for your own retirement. This will be your last chance to have a say.

There is only one party that can achieve the recommendations laid out in this report, the others are going to be caught up in the problems of an ageing European Union that is unable and unwilling to reform itself. They will not have the freedom or the funds to make the necessary changes.

Make your vote count at the General Election in 2005. Vote…

UK INDEPENDENCE PARTY.

For a copy of the full report that this leaflet is based on send £1 for post & printing to the address below or download for free at :-

http://pensionsmeltdown.blogspot.com/

If you have any questions, want more information on pensions or the party or to become a member, (£20 a year, £10 for seniors and unwaged), write to the promoter and publisher of this leaflet, David Lamb, at the address below:-

UKIP. Newbury & Reading Branch. 5, Marfleet Close. Lower Earley. Berks RG6 3XL.


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I want realistic pensions for UK citizens and do not want to have to pay for EU pensions:


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VOTE FOR YOUR PENSION RIGHTS!

VOTE UKIP.

At the next General Election.

Printed by David Lamb. 5, Marfleet Close. Lower Earley. Reading. Berks. RG6 3XL