PENSIONED OFF!

There may be trouble ahead... retirement pensions will increasingly become unaffordable in the coming years, whether it's the state retirement pension or company and private pension schemes

It's Friday. It's financial. It's Friday Financial with JULIAN SAYER.

It's official. The UK state pension is worst in Europe.

It's been a busy two weeks looking after my six year old during the Easter holidays, but that's the conundrum of modern life. One of my pet hates is the lack of time modern life gives you; investing your most precious commodity (time) into the teaching of your greatest asset (your children.) So I am afraid this week's blog will be a short piece.

How a society looks after it's young, old and most disadvantaged says everything about it. This Government's continued attack on the most disadvantaged continues relentlessly. The poor, unemployed, handicapped, young and old are all suffering with reduced income, while the rich and multinationals continue to flout the tax laws stashing trillions of pounds in off shore tax heavens. This week I want to take a look at what's happening in the pensions industry, how it's affecting the pensioners now and how it will affect you when you retire in the future.

Having worked in the industry for twenty odd years, one thing I know for sure, is that this Government will continue to reduce the amount of pension you are going to receive in the future. Everything points towards it, an ageing population, reduced tax revenues, low employment levels, and longer life expectancy. In the UK we were once the envy of the world with our well run state and private pension schemes, and those lucky enough to have worked in the "golden generation" have reaped the rewards and are enjoying the benefits of these schemes. Sadly, just like our other world renowned institutions like the NHS and Railways, our pension system will be run down and hived off for the profit of the few, and to the detriment of the many.

BBC OFF THEIR TROLLEYS

The irony of Tesco profits being hit because workers don't earn enough.

ByHARRY BLACKWOOD

HAVING worked for the BBC for a short time, I can tell you categorically that most BBC journalists don't know their arse from their elbow.

Such is the narrow gene pool that the BBC selects its journos from (think Oxbridge and public school) that it's no surprise that they get the wrong end of the stick when it comes to even the most basic news judgement.

This week there was a classic example of what I'm talking about when Tesco announced its yearly results. The High Street behemoth posted profits of £3.3 billion. Worth pointing out at this juncture that a billion is a thousand million. So, a bunch of glorified corner shops pulled in 3,300 piles of dosh with a million quid in each. Nice work of you can get it.

http://www.bbc.co.uk/news/business-27046105

But the BBC wasn't interested in this massive amount of profit because some highly paid executive had already decided that 'the story' was a six per cent drop in profits. Except it wasn't. If you strip out new store openings, the like for like fall was only 1.4%. Not too shabby in times of austerity, inflation and queues outside food banks.

THE UK RAIL RIP-OFF: PART 1 - COMING OFF THE RAILS

The end of the line? After decades of neglect and funding cuts, by the late eighties much of Britain's once great national railway network was starting to look like this. Even worse, a large proportion of route mileage was already gone thanks to the infamous Beeching Cuts of the sixties, most of which were executed by a Labour government.

In a regular series of posts ANDY

FLEMING takes a look at our non-integrated and not fit for purpose public transport system. He starts by taking a recent historical look at the UK’s railway system, one of the most expensive in Western Europe for both passengers and taxpayers. It isn’t long before corrupt politicians are seen to be taking the public for a ride along the rails.

They say that travel broadens the mind, and foreign travel especially. I was a late starter in getting “the bug” for it. In fact it was on our honeymoon in August 1989 in Paris that I first set foot on foreign soil. And as a graduate student of sociology with modules in transport and planning what a shock it was.

We arrived in Paris via train, to me the most civilised form of mass transport, at Gare du Nord. The journey had been a real eye opener. We had travelled all of the way by train from Darlington, enjoying an overnight stay in central London and then using the ferry for the short crossing to Boulogne (this was before the Channel Tunnel of course).

Nothing remarkable in this, but on a personal level, visiting France for the first time was a big event in my life. At the age of twenty nine I had previously developed the view that everything about our country was best. Its education, health care, welfare, and other state systems and infrastructure were at the apex of civilisation.

My first footsteps on to the Société Nationale des Chemins de fer Français (SNCF) express train shattered this UK-centric worldview. Clearly, before I had even tested a word of my pigeon French out on an unsuspecting local person, this wasn’t just a journey of discovery in terms of culture, society and country; it was a tale of two completely different national railway systems, and it would be a comparison in which Britain would inevitably come out a very poor loser. Bear in mind too our journey was at the time TransManche Link (TML) were still excavating the Channel Tunnel, Eurostar trains were still a couple of years in the future.

On time we left Boulogne and travelled through the beautiful countryside of northern France at high speed on our way to the nation’s capital. We were seated inside a second class compartment, but it appeared to both my wife Gill and myself to be perfect luxury. In fact, we had initially inadvertently mistaken our coach as being first class and we might be reprimanded for sitting there. Our worries soon abated on a walk down the train to enjoy the delights and service of a fully stocked restaurant and buffet car. That’s because first class was even more luxurious. This was first class travel with a second class ticket. Through Amiens and on to Paris we were whisked to pull into Gare du Nord on time to the second. This was how rail travel should be, I thought.

VOTE LABOUR, TORY OR LIB DEMS. GET MORE OF THE SAME OLD SHIT

Britain's political landscape is a wasteland of so called 'centre ground' politics. Conservatives are the same nasty Tories they've always been but they pretend to have discovered compassion. New Labour are Tories with Red ties and a few quid from unions. The Lib Dems are just lying Tory bitches and the new kids on the block - UKIP - are merely a more racist, homophobic version of the Tories. Guest blogger PAUL SOUTHWOOD bemoans a lack of choice and explains that not voting should be seen as a positive action.

It's not apathy that stops people voting, it's the realisation that politicians are all the same.

VOTER APATHY. Already, the phrase has become enshrined in media-speak as a pocket-sized explanation for why so many people stay away from ballot boxes at elections. But it is a misnomer - like describing comets as falling stars or fossils as figured stones. Perhaps there are some apathetic non-voters out there; I haven't met any. I have on the other hand met angry non-voters. After some thought I have decided to join them as I am angry too.

Voters of course, are horrified. If you don't exercise your right to vote they say then you have no ability to effect changes nor any right to criticise the elected government. And the vote, they say is a right for which our forebears fought - at great cost to themselves.

Political parties of course feel no such tug of' historical heartstrings. This seems especially true of the present Labour Party; historically, nobody much can be said to have made any great sacrifice for the cause of Toryism.

Sadly, history can make a mockery of sacrifice, and it can do so In short order. 'If I die,' wrote many Red Army soldiers before battle was joined at Kursk "then count me a communist." Yet even if their sacrifice changed history, where now is their cause '? The Vietnam War cost one side millions of casualties, and scarified the conscience - and pride - of' the other. Yet now, increasingly, Vietnam is an aspiring Singapore.

History is littered with such lost causes - some deservedly lost. If British democracy is not to join them, then British politicians must manifest the one characteristic that makes voting in a multi-party state worthwhile - difference.

KNOWLEDGE OR CERTAINTY

It's July 16, 1969 and the start of the greatest voyage in our history: Apollo 11 is launched from Cape Kennedy atop a Saturn V booster (left). Four days and over 200,000 miles later, Neil Armstrong and Buzz Aldrin become the first people to set foot on another world (right). And all thanks to Newton's Laws of Universal Gravitation and Motion, exquisitely accurate at non-relativistic 'everyday' speeds.

Politicians and religious leaders invariably state with

certainty that their beliefs and preachings are the absolute truth. Guest blogger ANDY FLEMING investigates knowledge and certainty, and in the process reveals how a society that dispenses with true scientific scepticism inevitably ends in tragedy.

All of my life I've been fascinated by science, and although I'm not a scientist (I was however a laboratory analyst at ICI for many years, and I am an amateur astronomer) I still consider science to be the best human method for explaining how we, and the entire cosmos came to be. Unlike many other areas of human endeavour such as religion, our scientific theories, although still only approximate descriptions of reality, are testable, falsifiable and most importantly, can be verified by peer review. This cannot be said of many other academic disciplines, as instead of logical, rational thought, they rely on each individual's belief systems and their hypotheses are hence not testable in the real world.

Humankind's scientific theories are however, at best only approximations of reality, albeit often exquisitely accurate approximations. Over decades and centuries they have been developed and amended in the light of better data and evidence. For example Newton's Laws of Motion and Universal Gravitation were perfectly adequate up to 1915, and indeed are still used in determining a spacecraft's trajectory. Such an example is NASA/JPL's's New Horizons mission to Pluto, due to arrive with perfect accuracy to the nearest second at that distant dwarf planet in 2015. However, Sir Isaac Newton cannot be placed in the driver's seat in very strong gravitational fields or at relativistic velocities (speeds approaching that of light), due to effects including time dilation and Lorentz length contractions. And Newton’s speculative contention that time is a universal constant was proved incorrect by Einstein. It is the speed of light that is a universal constant.

CHANGE THE WORLD BY CHANGING YOUR SHOPPING HABITS: BUY LOCAL!

More people are beginning to rediscover the benefits of shopping at independent local shops. It's better for the community, provides better quality, is environmentally sustainable and is free of supermarket cartels and should stimulate competition and better consumer choice.

Sick of hearing tales of multinational coffee shops who don't pay UK corporation tax? Annoyed at the way supermarkets screw customers and suppliers?  Wish that all those empty units in the local shopping centre were turned into thriving independent retailers?

Well, follow LUCY PATTERSON'S lead and do something about it. As Lucy explains, by shopping and thinking local, we can not only create employment but create communities.

Change the world by changing your little bit of it.

FROM the industrial revolution, to the dawn of the world wide web, it would appear that we are constantly led to believe that international is better than national; national is better than local.

But what about local?

In this age of globalisation and international banking meltdowns, I firmly believe that there is a place for the local to re-emerge.

I see embracing what I have on my doorstep and utilising it to its best effect as the currently missing catalyst for improving society. I am not talking about buying successfully ‘localised’ products and services; ones that we are led to believe have been developed with our particular culture in mind; I mean grass roots local. Products and services that are developed by people actually living within the community they serve; products and services that give back to the community in which they are based.

Think back to the times when your parents or grandparents had to buy their food from local shops and producers. Said producers were accountable for their wares and their trading places formed the hub of communities. Whether it be the market stall, butchers shop or simply the farm gate; there was transparency and simplicity in the sourcing of the things we needed and if something ran out or was not available at the time, we went without; sustainability and seasonality. Simple.

A POLITICAL FOOTBALL

Coining it in: Wayne Rooney is paid £500,000 per day and is laughing all the way to the bank. James Campbell reveals an uncanny similarity between professional footballers and their bosses, and politicians. The solution: don't support professional football and in the political arena, don't vote.

Whether it’s voting or supporting, the solution is in our hands

Guest blogger JAMES CAMPBELL offers a solution to football supporters who are fed up being ripped off. He explains how direct action against the ills of football can also be applied to politics.

I WAS talking to a Newcastle United fan the other day and he was bemoaning the fact that money had ruined football.  In general terms he thought it was obscene that the likes of Wayne Rooney was getting paid £300,000 a week and that Mike Ashley was using Newcastle United to make money for himself and had no interest in the footballing success of the club beyond that.

I asked what he was doing about it. He didn’t have a clue what I was on about.  So I asked if he held a season ticket at Newcastle or a Sky Sports subscription to watch football.  Yes to both.

So I said OK, cancel both, don’t go to another game, buy another shirt or any other merchandise until things change.  Encourage others to do the same.  The response: “Ye cannot dee that, ye’ve gotta support ya team man.”

I asked if he’d protested in any way. He said they often chanted anti Ashley slogans at games and once turned their back on the field before a game….so he pays the man he hates his hard cash to shout abuse at him.

So I explained that he was as responsible for the ruin of the game as Rooney, Ashley and all of the others fleecing it.  He looked utterly scoobied.

So in really simple terms I went on.  What do you think would happen if everyone just refused to renew their tickets and cancelled their Sky Sports?

Blank look…..