Magazine
Latest Issue

Until recently, I had thought that only those on the point of retirement had been truly clobbered in the rout of our pension system caused by ultra-low interest rates. Then I opened my latest pension statement.

I have paid “additional voluntary contributions” into a fund under a “defined contribution” scheme. That means the amount I paid in was fixed, but what I will eventually get out is not. This fund, entirely invested in equities, did rather well over the course of 2012, its value rising by 11.7 per cent. But when I turned to look at the Statutory Money Purchase…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect