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

[The Clamp]

You are joking. Questionable?

He screwed up loads of people’s retirement.

Well documented and some of us witnessed the fallout.

My bad, half that sentence seems to be missing. I originally wrote "what that has to do with the current government is questionable....

 

[Icy Gull]

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.

Again, fair enough, who am I to question your belief that Labour wouldn’t have done exactly the same

I have no idea if they would but…I personally don’t trust or have faith in any of them.

 

[PILTDOWN MAN]

My bad, half that sentence seems to be missing. I originally wrote "what that has to do with the current government is questionable....

Your right, however the point I was making they’re all as bad each other

 

[The Clamp]

Your right, however the point I was making they’re all as bad each other

I appreciate that. I personally don’t think anyone has been as bad as Johnson and his cronies in my lifetime.

 

[jakarta]

I appreciate that. I personally don’t think anyone has been as bad as Johnson and his cronies in my lifetime.

You weren't around when Sunny Jim Callaghan and the TUC were running/ruining the Country then?

 

[The Clamp]

Your right, however the point I was making they’re all as bad each other

I appreciate that. I personally don’t think anyone has been as bad as Johnson and his cronies in my lifetime.

 

[nwgull]

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?

Is it significantly invested in US and overseas markets in general? My main fund has a greater percentage of US equities than anything else and it’s done well over the past few years. I think that the FTSE 100 is the only major world index that is current lower than pre-Covid levels; all the others (DJ, Nasdaq, Nikkei, Dax etc) are all 10-15% higher than they were in Feb 2020.

 

[The Clamp]

You weren't around when Sunny Jim Callaghan and the TUC were running/ruining the Country then?

Afraid not. I grew up in Thatcher’s Britain.

 

[beorhthelm]

Again, fair enough, who am I to question your belief that Labour wouldn’t have done exactly the same

I have no idea if they would but…I personally don’t trust or have faith in any of them.

Labour certainly wouldnt have done something like this, asking investment funds to invest more broadly. they wanted to borrow £500bn, mostly from investment funds, and nationalise a bunch of industry owned mostly by invetment funds. so they'd either mandated investment policies for funds to follow, or taking the easier route just nationalised the funds.

 

[Westdene Seagull]

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

And created thousands of BTL landlords by his actions .... landlords lots of people seem to hate.

 

[The Clamp]

Labour certainly wouldnt have done something like this, asking investment funds to invest more broadly. they wanted to borrow £500bn, mostly from investment funds, and nationalise a bunch of industry owned mostly by invetment funds. so they'd either mandated investment policies for funds to follow, or taking the easier route just nationalised the funds.

Putting the Labour Party aside for a moment. Do you trust this government?

 

[Baker lite]

Gordon Brown will be along any minute now, shouting “ Hold my beer”


Sent from my iPad using Tapatalk

 

[beorhthelm]

Putting the Labour Party aside for a moment. Do you trust this government?

nope.

 

[maltaseagull]

here's a less biased account https://www.cityam.com/johnson-and-sunak-call-for-investment-big-bang-in-uk-to-aid-recovery/

and the letter https://assets.publishing.service.g...inister_and_Chancellor_to_institution__1_.pdf

doesnt mention investing in high risk or startups as the Guardian says. Johnsonian rhetoric aside its saying look beyond FTSE as there's a lot of other long term investment being overlooked.

This is NSC!

Is anyone interested in less biased?

Some political opinions are easier to change than refloating the Titanic.

 

[wellquickwoody]

I don't know about you, but when the Tory's start talking about what to do with my money, alarm bells start ringing.

Not half as much as when Corbyn and his like do it!

 

[The Clamp]

In a letter to the investment industry, the prime minister and chancellor Rishi Sunak said UK institutional investors needed to “seize the moment” and use their “hundreds of billions of pounds” to back assets that often carry a longer term payback such as infrastructure, which includes bridges, roads and wind farms...
FT - 05/08/2021

They'll put it into infrastructure. Boris Johnson doesn't have a great record on infrastructure investment..

HS2
The current budget estimate is the latest in a series of cost increases since the contentious project was first proposed more than a decade ago. An initial budget estimate in 2012 of £32.7bn had risen to almost £56bn by the time of the 2015 government spending review. In 2020 an independent review of the project by the engineer Douglas Oakervee found that the cost could reach as much as £106bn.

Opposition to the project, which received final approval from Boris Johnson’s government in February 2020, has been growing.

New Statesman
21-06-2021

 

[Hampster Gull]

Probably best not to have one rather than let this government steal it. And I wonder what organisations they’ll be urging to invest in? Ones belonging to their chums perchance? Help their mates through Brexit and Covid recovery using our money?
I would say that is very likely.

NHS Plc?

 

[Bob!]

Pensions at present are a bit bizarre, I will end with three, one of which I'm claiming at present, the second will come on line 2013 / 2014 if I give up work (hopefully in 2 or 3 years time) and then there is the State Pension which I won't get until 2017 (given my Father and Grandfather both died in their mid sixties that is probably a long shot for me).

Don't think either Pension 1 or 3 will make me comfortable but Pension 2 which I have lumping money into for the past few years as I want to stop working has gone daft (as in Pension Pot has gone up plus 85K since 2018). I'm not moaning of course but perhaps someone on NSC can explain this?

Living in the past?

I assume you are living in 2011 at the moment

 

[studio150]

If Johnson wants Pension Funds to invest in these types of companies, maybe he should consider increasing the lifetime allowance so that on the basis that he wants this to be a success then those whose pension funds are exposed to this, should share in the benefits rather than paying 55% tax or whatever it is, when the allowance is reached.

Of course if this goes all wrong and the investments fail to provide the returns and your pension is less than you expected and/or need, Johnson will be long gone and of course it won't be his fault.

 

[WATFORD zero]

Well following on from their sterling work on negotiating a brilliant Brexit and their superb handling of the pandemic , I can't imagine any reason not to believe their investment advice will be well thought through, honest and in the best interests of the Country's population