Christian financial advisors call on wealthy pensioners to forego freebies

The Association of Christian Financial Advisers is backing moves to reduce fringe benefits for wealthy pensioners and applauds the inclusion of such proposals in 2015 election manifestos.

ACFA welcomes the gathering political consensus that wealthy pensioners should forego their automatic right to free travel, TV licenses and winter fuel allowances, says spokesman, Arwyn Bailey.

"As a society struggling to rein in overspending it's time to forego those freebies. To do so would send an important signal from the wealthier baby boomers to the 'destined to rent' generation - we want you to prosper, too.

"We have to face up to what state benefits are really for. Originally, they were introduced to bring people out of poverty and up to a minimum standard of living - and three cheers for that. But for some of us, what was intended as a hand-up has become a hand-out that we no longer need."

Many of the retiring generation of baby boomers have done well out of rapidly escalating house prices, indexed-linked final salary pensions, and a share-owning democracy. They enjoy a financial security - which the emerging generations lumbered with student debt can only dream of in today's harsh economic climate.

Furthermore, as we live longer, those retiring baby-boomers will become increasingly dependent on the next generation, not least in consuming increasing amounts of healthcare.

"So it's time for those who can afford it to hand something back to those who follow - a living legacy, if you like," says Arwyn Bailey. 'For those with wealth, now is the time to no longer regard as a right the freebies and fringe benefits that come with our pensions.

"The sums involved may not be large, but to forego them makes a significant statement - that we want those who follow in our footsteps to share in our prosperity.'

ACFA fully supports the concept of pension savings of all types and welcomes the Coalition's attempts to simplify complex state pension provision. ACFA would encourage all parties to look at ways of simplifying welfare provision and social justice.

Perhaps this is the moment to recall the words of Oliver Wendell Holmes Jr, a past servant of the US Supreme Court of Justice, who said: "I like to pay taxes. With them, I buy civilization."

ACFA is the UK network of Christian financial advisers and related professionals. It aims to be the voice of Christian financial advice and champions best practice in the UK. The ACFA website offers links to Christian financial advisers across the UK.

For more information see: www.christianfinancialadvisers.org.uk