Iain Despot Smith – stop pretending you care about the sick & disabled because, you really don’t!

13 Jul

The lovely wibbly wobbly old lady

Reposted from Welfare Weekly

Hmmmmm, so what about all the National Insurance I’ve paid in since I was 16?  

Iain Duncan Smith. Photo credit: Brian Minkoff – London Pixels / Foter / CC BY-SA

Iain Duncan Smith has hinted that the future of Britain’s welfare system could rest in the arms of private insurance schemes.

Speaking to the Telegraph, the Work and Pensions Secretary says young people should be encouraged to save into flexible accounts, from which they can then draw out money at times of sickness or unemployment.

The model is very similar to unemployment insurance schemes in the United States, but would work more like systems that exist in the far East – such as ‘Fortune Accounts’ in Singapore.

Instead of a government-run pensions system, Singapore residents are required to save for their own retirement. “These savings can be used to buy life insurance and disability insurance…

View original post 353 more words

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