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  Daft over the top comment there Alexander. No-one wants to 'target' pensioners and drive them into poverty....
  
  What people here are not addressing is a much more important problem.
  
  Many people are going to end up very poorly off in retirement because they are simply not making enough provision for it. Most of us who retire after 2016 will get, in today's money £144 per week state pension with no means testing. That is £7,488 per annum and the nil rate tax band is £10,500 over age 65 and that is £3,000 above the state pension.
  
  This is not enough for a decent lifestyle in retirement for anyone.
  
  Everyone can save sufficient in a pension to top their income up by £3,000, or 40%, with no income tax to pay. Just to get to that level roughly speaking means saving a pension fund of £70,000 25% of which can be taken as a tax free lump sum, get invested into a Stocks and Shares ISA (over 2 tax years) and get an estimated £800 extra tax free per annum from it. If in your working life you save additional money into the Stocks and Shares ISA that too can give you more tax free income.
  
  Al is takes is a bit of sensible planning and any pensioner can get a decent net of tax income and tax relief along the way with it. Just what I said above would be the equivilent of someone in work under 65 earning over £15,000 gross salary per annum.
  
  I have to add - none of this represents advice to invest. It is vital that people get advice and plan properly for their future while understanding the risks of any investment they make.

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