John Penrose ‘has it spot on with a sovereign wealth fund’ to fix the pension system

James Cartlidge MP explains that the current pay-as-you-go pension system, where this month’s National Insurance contributions pay this month’s state pension, was not designed for the UK’s ageing population and the demographic changes that we are seeing.

Mr Cartlidge explains that John Penrose’s Sovereign Wealth Fund idea is one of the few that is radical enough to fix the current system, moving it from a pay as you go to a funded system.

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