In 1997 Gordon Brown's first act as Chancellor was to increase tax on pension funds by £5bn a year. He continued taxing pension funds at this higher rate for the next 10 years.
Most final salary pension funds have since closed to new members but those still going have total deficits amounting to £26bn.
The deficits exist even though the companies have hugely increased their contributions to their pension funds.
If Gordon Brown does not change Government policy soon there will not be any final salary pension funds left at all.
S Halden.
Chairman UKIP Swindon.
Beaufort Green, Park North. Swindon
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