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Sunday 1 July 2012

Turner Report - State Pension debts

The Turner report into the state pension has the following

""We have suggested that the state pension age will have to rise to somewhere between 67 and 69 by 2050 and that public expenditure on pension and pension benefits will need to rise from 6.2% of GDP today to between 7.5% and 8% GDP in 2050."

So what's GDP?

1,533 billion.

So 8% of linked to inflation is around the 123 billion a year mark.

What's current government taxation?

589 billion a year

So to put the pensions in context, that is 21% of all taxes going on just one debt.

At 5% interest we can compare the Gilt debt with future pension payouts.

2,460 billion. (note not millions, billions)

All hidden off the books.

Just one way of looking at one of the government frauds. Hiding the debts off the books so it can carry on spending.

Very bluntly they are running a Ponzi, and they know it. To hide the figures shows that its deliberate.

The consequences for MPs? Well they made sure their pension was fully funded and not a Ponzi. They've made sure they aren't a victim of their fraud.

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