Much of the recent damage to Britain's collapsing pensions system has been inflicted by legislative efforts to patch the system up, argued Jeremy Warner in the Independent last week:
Capitalism requires a degree of Darwinian natural selection to function properly. If companies are artificially supported, then the cycle of perpetual improvement breaks down. The irony of Government efforts to support what remains of our occupational pensions industry is that it has only succeeded in making a bad situation a great deal worse. Goodness knows what Adair Turner, chairman of the Pensions Commission, is going to recommend to replace it. The Government's involvement hardly gives cause for confidence.
