The meaning of the Pensions Bill

“I submit that this scheme is a social insurance scheme in more than one sense. It is a good scheme of insurance for the poor, and it safeguards them against some of the risks and anxieties of life, but it is also a good insurance scheme for the rich. The rich should pay up and so avoid the dangers of the social revolution.” Speech of Lord Henry Cavendish-Bentinck (Hansard, 19/5/25, Column 354).

(Socialist Standard, September 1925)