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GM I have NOT ever slated Rodney Benamin! That's absolutely FALSE! Yes I would agree that funding of any scheme is an important issue which is why Guernsey is proud to have a 90% funded scheme! California's scheme is UNFUNDED (Githead take note). Yes I agree that he he was partly implying that people will not put enough away into their pension schemes to properly fund their retirements, that is what I was saying months ago but you would not listen. I also think that chickens will come home to roost for the employers who have inadequate funding in their schemes. If you shift risk to the employee they will not do anything to manage the risk. If the onus is on low paid earners to fund their own pension savings, when times are hard they will spend their money. Who picks up the pieces for old age poverty? The State, and you think they should not interfere.
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