Pensions Continue to Spiral Downward

Britian Steel Workers

There are 11 million workers in Britain who assumed they had great pensions. The British Steel Pension Scheme is proposing to break its pension promises to its 130,000 members because they are losing money. Tata Steel is looking to sell its holding in its UK plants over the next few months, and that means that the £15bn pension scheme, that would normally be put into the general Pension Protection Fund, has been the slush fund for failed companies. So in other words, what they thought was a guarantee, will be nothing of the sort. Once government takes over anything, it just bleeds money.

Latest Posts

Give Me A Reason To Stay – Please!

https://www.armstrongeconomics.com/wp-content/uploads/2024/09/Springfield-Ohio.mp4   Springfield, Ohio, resident pleads with mayor that she “can’t take it anymore.” Please give me a reason to stay in this town after 45 years.
Read more

How to Read the July Jobs Report

The Bureau of Labor and Statistics released its report for July, indicating a slight uptick in employment. It is difficult to trust BLS data after their latest data revision that [...]
Read more

Telegram Forced to Surrender

French authorities arrested Telegram CEO Pavel Durov last month for permitting encrypted messaging on his app that could not be accessed by governments. France claimed that Durov was permitting illegal [...]
Read more