The introduction of a simplified Pension System would also solve the problem of skyrocketing Public Sector Pension costs.
The abolishment of pension provision by the employer (and controlled by him) would take the decision about the pension out of political control. After all, the employer does not provide us with our groceries or our housing?
If there is a political majority in favour of a certain amount of state provision the most efficient solution would be a 'Citizen Pension' payable to everyone who is above a certain age.
Additional provision would be made by each person out of his income. There could be provision to give every one an earmarked account in which he would hold his pension pot. Extra relief for hardship could be dealt with by a carefully controlled scheme that prevents abuse by those who wilfully neglect to make provision for old age.
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