Quit Paying into pension scheme?

[BELIAL]

So let me get this right.
Some of you are handing over your hard earned cash to people you have never met ,who then hand it over to investment bankers and hedge fund managers who they have never met, all on the strength of a flimsy promise of healthy returns in 30 years time

I've been investing in share based investments for over 10 years now and have done very nicely thankyou.

Seen the news lately ?

Yes I've seen that the stock market has gone up about 70% in the last two years and my investments doing very well!

Since the thread was about pensions Bob doesn't your bit of info raise a few questions in your mind ?
Specifically since a major proportion of the typical pension fund is invested in the markets ,how come pension returns are being reduced and contributions increased ?
Surely since share values have increased by 70% in two years then dividend rates will have also reflected this very robust growth ?
Another component of pension fund holdings ; government bonds have also given increased rates of return.
On the downside the property component has stagnated at best but come on 70% growth and the rest of it more than covers that and folks living an extra year.
I can only conclude Bob that either our pension fund managers are extremely adept at picking really duff investments or their fees charged are very large and growing very quickly. Lets hope our trustees are a bit more awake than they were when the "deficit' grew to £4.8 billion before they noticed

[dvbuk55]

Ex-Nomura investment banker gets seven-year jail term


Ex-banker and wife face jail as FSA crackdown nets results ...
11 Jan 2011 ... A former senior investment banker, his wife and a family friend pleaded guilty ... should he be sentenced to longer than a year in jail. ...
http://www.independent.co.uk/.../exbank ... 81291.html" onclick="window.open(this.href);return false; - Cached


Former investment banker 'should pay £1m costs' over insider ...
23 Apr 2010 ... Malcolm Calvert, who retired from Cazenove investment bank 10 years ago, was jailed for 21 months after he used an insider to get ...
http://www.thisislondon.co.uk/.../artic ... kbrokers.d." onclick="window.open(this.href);return false;.


Well no wonder RobertT has done well or is it?

[BELIAL]

Congratulations DVB you've got the hang of the funny blue writing thing bit jealous

[RobertT]

Since the thread was about pensions Bob doesn't your bit of info raise a few questions in your mind ?
Specifically since a major proportion of the typical pension fund is invested in the markets ,how come pension returns are being reduced and contributions increased ?

Because 1) Everyone is living longer. 2) Annuity rates are lower. 3) Pensions cost businesses a lot of money and they can't afford the payments.

Surely since share values have increased by 70% in two years then dividend rates will have also reflected this very robust growth ?

Yes, but two years in the life of a pension is nothing. It's what happens over many years that counts.

Another component of pension fund holdings ; government bonds have also given increased rates of return.

True, but their returns are a bit like bank interest rates in so much as they are 'steady eddies'. The way to make real money is to buy low and sell high, that's where the 70% comes from. Unfortunately returns like that often only come from investing after a crash, at a time when many people don't.

I can only conclude Bob that either our pension fund managers are extremely adept at picking really duff investments or their fees charged are very large and growing very quickly. Lets hope our trustees are a bit more awake than they were when the "deficit' grew to £4.8 billion before they noticed

One of the factors with the RM pension fund is that it took a hit a few years ago because a large proportion of the money was invested in equities and markets fell. The trustees then decided to go more into bonds. As bond yields are generally lower than shares, the loses were crystallised. So I agree that our trustees/fund managers have f*cked up.

[Dorset Plodder]

Interesting Discussion Guys I still know F..k All about Pensions Question on a related theme if you've Opted out of SERPs is the a specific age that you should Opt back in?

[dvbuk55]

Congratulations DVB you've got the hang of the funny blue writing thing bit jealous

Can't claim any credit B, it happened by accident and quite quickly.................come to think of it......nah forget it

[BELIAL]

Because 1) Everyone is living longer. 2) Annuity rates are lower. 3) Pensions cost businesses a lot of money and they can't afford the payments.

1 f**k me Bob is we all living 70% longer Yipee

2 Annuity's are bollocks and you know it ; returns decided upon by insurance assessors according to their discretionary evaluations,and non transferable ,so they go to Cameron when you peg it

3

3) Pensions cost businesses a lot of money and they can't afford the payments.

Worth quoting,they can afford to pay bonuses and subsidise the competition though

Yes, but two years in the life of a pension is nothing. It's what happens over many years that counts.

Tell that to the trustees Judging from their letters they ain't quite figured that one

True, but their returns are a bit like bank interest rates in so much as they are 'steady eddies'. The way to make real money is to buy low and sell high, that's where the 70% comes from. Unfortunately returns like that often only come from investing after a crash, at a time when many people don't.

Kin ell you is Mike Milkin ,Does it work if we all do it

[fishtank]

Does it work if we all do it

Only if you can match every buy low/sell high genius with a buy high/sell low suicide.
Volunteers at the ready.....

[BELIAL]

How do it work then Fishy? A Swiss banker who designed tax avoidance techniques blows the whistle ;gets acquited , then re-arrested for revealing how much tax the fat cats are "disappearing"

[fishtank]

How do it work then Fishy?

Mmmm....Basel.



More crooks in here than in the scrubs and pentonville together.

[BELIAL]

Babel ?

[dvbuk55]

Babel ?

No, it's my stash of cock rings

[fishtank]

Babel ?

They certainly speak with many tongues in that tower.

[Broxi51]

I just wish that the CWU & the members could get together and threaten to transfer all
our pensions to another. That would f**k cable up with his 26 billion of assets

[BELIAL]

I just wish that the CWU & the members could get together and threaten to transfer all
our pensions to another. That would f**k cable up with his 26 billion of assets

I'm just guessing Broxi ,but if you can vote out your manager, then if all pension stakeholders expressed a desire to transfer their assets to a new peoples bank then we could develop an alternative financial system
RBS is massive but a mere £8 billion secured public ownership, Just imagine the power of a public bank secured with the £26 billion assets of the RM pension fund