Chit Chat
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Three hundred more final salary company pension schemes have fallen into deficit in the past year while the aggregate shortfall in the near-6,000 schemes now in the red has worsened to £408 billion, according to the latest analysis of the health of traditional retirement plans.
The latest additional £60bn QE to buy government bonds, extends the existing quantitative easing (QE) programme to £435bn in total
It's very clear what this is doing to pensions. Company profits will spiral down if they keep this up.
If they are not waiting for the biggest collapse any of us have seen in out lifetimes, what might turn this around?
The latest additional £60bn QE to buy government bonds, extends the existing quantitative easing (QE) programme to £435bn in total
It's very clear what this is doing to pensions. Company profits will spiral down if they keep this up.
If they are not waiting for the biggest collapse any of us have seen in out lifetimes, what might turn this around?
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Close them all now....I can say that because I do not have one
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Everybody should be guaranteed what they have paid in, plus interest accrued.
I don't think private companies or government can guarantee any more in the current economic climate, so don't. |
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Maxwell was a big flag in the past -
pension cash went missing. It's all going to disappear. all this is a crack in the bowl, it's going to leak away. when it all crashes - a matter of time? heading for digital money and total control of everybody's finances. you won't be able to steal money in the future because the digital trail will show were you got it. |
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bottom line
when you deposit money in a bank you are the lender. your cash is their cash now. that cash belongs to them. once it goes completely digital they own you. you don't have the option of withdrawal of funds. |
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The pension market's Huge & cannot be sustained, it's becoming impossible for funds to keep finding 7% returns to keep the Ponzi afloat, so they plan to Steal all this easy money first as the Banks collapse, a few smug old bstrds will creak in their slippers as they realize they're no better off than some 2 bit joker on benefits & as the World is systematically Robbed they'll still sit there bumbling on about paying their BBC license !
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It all sounds pretty bleak
 Digital money is something to be afraid of. Cash is king. I have not used a credit card for 7 years. Maybe contactless cards are to be avoided at all costs. Don't let them take a cut of everything and add to the prices over time, when you can pay with cash. |
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I pay quite a high % of my wage into two pension pots. Is that a bad idea then?
One is with prudential the other John Lewis |
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its not your % that counts but what the firm puts in,no point in turning free money down and banks etc giving you nothing for your own money
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My firm pays in 5% of salary and also refunds the employer’s National Insurance (13.8%) of contributions into our pensions.
I think it's good to save separate to pensions as well, be it in an ISA or a property or something else. Legislation can change. So, after decades of saving into a pension, they could decide to tax it differently to how you expected. An example of this is the freezing of the Inheritance Tax limit, which has netted the government £4.6 billion in year 15/16. (compared to £2.3 billion 09/10) |
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If the companies hadn't taken such a long 'contributions holiday' during the boom years pensions wouldn't be in the state they're in.
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Stow judge I assume you use a debit card?
Cash is for drug dealers and peasants. Credit cards give you purchase protection and not sure how you'd go about using cash to buy plane tickets, stuff off amazon etc |
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Yes, I use a debit card when I have to, but I pay for beer, shopping, diesel, most things while I am out with cash. I never go out without a few hundred and only take my debit card with me to draw out cash or the occasional purchase.
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I have 3 credit cards and have not used them for around 7 years.
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In which case they are probably no longer valid.
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