Moin! We decided long ago that we would probably not receive a state pension. Although that theory turned out to be wrong, you may notice that they already are referring to it as a benefit. The current government like pensioners because they have a tradition of voting, but future generations may be more cynical. Either way there will be a lot of decision makers who feel that sort of money would be better off shore in a revenue free haven. We remain unconvinced that people see the link between income tax and government spending.