[Finance] Tory's risking our pensions to try and prop up failing UK economy?

[jakarta]

Think your years are 10yrs out or you are already retired and getting forgetful

No I'm still working at 61, 2 more years for my Consultancy, a few further years for my University Lecturing (thinking about it thats actually going to be a further tiny pension)

Looking at Pension No.2 (Royal London) Statements it has definitely rocketed which doesn't seem logical given what has been happening in the last couple of years?

 

[portslade seagull]

As an aside when I worked for the post office all the guys coming upto retirement used to mostly work nights and do plenty of overtime to boost their pensions. Used to be final salary then worked on the best of the last three years. Most retired at 65. The average lifespan after retiring was 18 months so the pension funds bag plenty of money. My advice is to take it as early as you can afford to

 

[The Clamp]

Erm
"One aim of the plans is to encourage pension fund investors to support high-growth UK tech companies and address the barriers that mean they often miss out on domestic institutional investment, as fund managers are wary of pouring capital into riskier startups"

That's not the only mention of start up in the first article and uses a variety of expressions that suggest risk

Yes. I didn’t bother pointing that out as if someone has deliberately ignored that, they are unlikely to be open to debate.
Yes, it’s a guardian article. The facts remain the same. They are encouraging risky investment. Now Covid is less of an immediate concern, this government need to find a way to continue to use the virus to profit.
It would be classic Tory;
Take our money under the auspices of recovering from Covid
Use it to bolster their chum’s businesses and hide the economic Brexit disaster.
Claim investment is at an all time high due to Brexit.
Claim the Tory’s have saved the financial day after Covid.
Then we work until we’re 77 years old and retire with a worthless pension because it has been invested in Priti Patel’s mate’s eyelash company.

 

[The Clamp]

I had hours cut last year due to a reshuffle of day shifts. My wage went down by £300 pm overnight. That’s a lot of money to me. Had to take a pension break for almost a year as we had no overtime due to Covid as all annual leave was cancelled.
It’s cost me a fortune in savings. Am now back to making contributions but that was an expensive year. I don’t mind admitting it pushed me to the edge financially and mentally. Working 14 hour night shifts and not being able to save. Basically working to pay a few bills. I consider myself lucky that I didn’t go under.

 

[beorhthelm]

Less biased? What you mean is biased in a different way.

sure but just look at the headlines, one saying Johnson tells Pensions to back riskier investments, the other saying Johnson asks for investment in UK. the articles follow similar bias. read the Guardian article only and you might conclude this was a silly suggestion for pensions to go risk on, when really its a call for all institutional investors to broaden their portfolios. the focus is on long term investment, not high risk.

 

[GT49er]

No I'm still working at 61, 2 more years for my Consultancy, a few further years for my University Lecturing (thinking about it thats actually going to be a further tiny pension)

Looking at Pension No.2 (Royal London) Statements it has definitely rocketed which doesn't seem logical given what has been happening in the last couple of years?

I think your statement that your state pension won't come on line until 2017 might need a bit of revision!

 

[The Clamp]

sure but just look at the headlines, one saying Johnson tells Pensions to back riskier investments, the other saying Johnson asks for investment in UK. the articles follow similar bias. read the Guardian article only and you might conclude this was a silly suggestion for pensions to go risk on, when really its a call for all institutional investors to broaden their portfolios. the focus is on long term investment, not high risk.

But you forgot to mention the article you linked to does mention start up and riskier investment.

But either way, you’re right, it’s good to look at different sources. However, my factory setting when it comes to this government is that they’re pulling a fast one. Their track record would back this up.

 

[Pevenseagull]

http://https://www.thisismoney.co.uk/money/news/article-1608722/Browns-tax-raid-on-pensions.html

yep ... those figures though ... OMG!

£5bn pa 'tax raid' on pensions ... that's a couple of truck fulls of not fit for purpose masks from Hancock's mate down the pub ...

But a daft decision and in the grand scheme of things a bit like when Paul Barber (Barber in) decided that the match day programme could be printed on slightly cheaper paper ... but with millions of people ending up a bit short in retirement ...


**** 'em all

 

[beorhthelm]

But you forgot to mention the article you linked to does mention start up and riskier investment.

i said the letter itself does not mention these. it talks of green investment, infrastructure and long term assets.

 

[CheeseRolls]

Here is a novel approach they could try.

Get the environment agency to actually do their job and force the corrupt water companies to clean up their mess.

This will put pressure on fat cat salaries and on dividends. This then breaks the vicious circle where we all get shafted by a corrupt bunch of monopolies, which the government won't touch in case it impacts everyone's pension.
Net result pension funds have to work a little harder and need to look to more innovative companies to fund pensions growth.

They could of course just bring them back into public ownership. I don't really care which way it goes, but I am sick of hearing about the shit these corrupt b'stards are literally pouring into our rivers and seas every time it rains, or in the case of Southern Water every time they deny it.

 

[jakarta]

I think your statement that your state pension won't come on line until 2017 might need a bit of revision!

That is what it said of this morning but my Financial Advisor told me a while back not to depend on HM Governments largesse.

I think his phrase was You'll be able to pay the gas and electric bills and run your car but don't think you can have any holidays

Hence my other 3 pensions!

 

[Pevenseagull]

here's an idea .... apply some criteria to investments that qualify to be in a 'Make Britain Great Again' pension fund ...

1) a certain level of liquidity (Gilts) 50% (infrastructure projects)
2) Securities with an established div yield (FTSE100/250s) 30%
3) investments in developing businesses NOT punts, NOT daily traded ... 5yr minimum 'hold' 20%

even the ***** that read the Mail/ Express would get behind that.

could call it 'Making Us Great As Britain Evermore' .... (MUGABE for short)

 

[Binney on acid]

What could possibly go wrong ?

 

[Charlies Shinpad]

Perhaps you’re mixing all this up with the wrong government, think it was Gordon Brown that screwed the most over a money grab on pension funds

It certainly was Gordon Brown who is at the core of this Pension crisis

Sent from my EML-L09 using Tapatalk

 

[The Clamp]

It certainly was Gordon Brown who is at the core of this Pension crisis

Sent from my EML-L09 using Tapatalk

questionable and totally irrelevant. Imagine if Corbyn was in charge, eh?

 

[Icy Gull]

Most politicians from all parties are complete charlatans, the Tories are coming in for the slagging off because they are nearly always the ones in power. Be no different if it was Labour imo

Imagine if Corbyn was the one who’d guided us through Covid, you think he would have done a better job?

I don’t and neither would Starmer, again imo

I reckon even I could be a top top opposition leader

 

[The Clamp]

Most politicians from all parties are complete charlatans, the Tories are coming in for the slagging off because they are nearly always the ones in power. Be no different if it was Labour imo

I must respectfully disagree. All political parties have their wrong 'uns but no government in my memory has binned all the level headed MP's, filled the cabinet with incompetent yes men, lied to the queen. lied to Parliament, changed laws to make Parliament powerless to challenge the Tory's activities, lied to the public, put Britain in such a precarious financial position, been so corrupt, awarding ridiculous contracts to incompetent chums, been so deliberately divisive etc etc. So, do I trust them interfering with my pension? I do not.

 

[Icy Gull]

I must respectfully disagree. All political parties have their wrong 'uns but no government in my memory has binned all the level headed MP's, filled the cabinet with incompetent yes men, lied to the queen. lied to Parliament, changed laws to make Parliament powerless to challenge the Tory's activities, lied to the public, put Britain in such a precarious financial position, been so corrupt, awarding ridiculous contracts to incompetent chums, been so deliberately divisive etc etc. So, do I trust them interfering with my pension? I do not.

Fair enough, we’ll never know though will we?

Power seems to breed corruption, and seldom has their been such opportunity as the last 15 months or so.

I have no idea why I am even posting as my disdain for all politicians stops me from posting on 99% of political threads

I was a remainer btw if that helps

 

[PILTDOWN MAN]

questionable and totally irrelevant. Imagine if Corbyn was in charge, eh?

You are joking. Questionable?

He screwed up loads of people’s retirement.

Well documented and some of us witnessed the fallout.

 

[The Clamp]

Fair enough, we’ll never know though will we?

Power seems to breed corruption.

But we do know. How do we know? Because this is what this government has done. Of course we know. We have all witnessed it.