Ponzi pensions

CLAIMING the UK state pension is lower than in most of Europe because we get out what we pay in (Letters) implies that it’s our own fault if we are scrooges.

But the problem is that it’s a giant Ponzi scheme, and we don’t get out what we pay in. If we did, we’d get back 10 per cent of our lifetime’s earnings, and that’s without 45 years’ interest. If only.

P. J. WESTWOOD, Flamstead, Herts.