So let me get this right. Osborne after insisting pensions/ pension funds....

..in the Private sector are poor compared to 'gold plated' Public sector pensions which are "unsustainable" now wants fund managers to 'gamble' with the funds and invest in infrastructure projects!

FFS! What happens if the project e.g. toll bridge, road, or hospital/school fails to generate the promised revenue? Does that mean the pension fund collapses or is the govt going to underwrite the invested amount? Sounds like another 'scam' to divert taxpayers money to projects that should be funded by the Treasury.

Surely if this was zero risk there would have never been the need for rules preventing fund managers investing in such schemes in the first place.

if I have got this wrong someone please enlighten me. As it stands George O has less idea than some of my 'A level economics' classmates from 40 years ago (before Milton Friedman became the 'blue eyed boy')

 

Panic measures

Perhaps if Vodafone had paid what they should have he might have had nearly enough to fund such projects without this circus.

This and the wanting to re-inflate the housing market just shows how far from reality our decision makers are.

Properly worried.

 

Re: Panic measures

pensions should be outlawed...........reason?

you pay in for YOUR OWN money for decades and decades and then THEY tell you WHEN and HOW MUCH a year you can have back!!

Outrageous...be better off putting it in a bank account when you are young and not touching it........... then you can have it back WHEN YOU PLEASE. Downside is thereev has no will power and would have it all on a DS Nap

 

Re: Panic measures

Labour raided public sector pensions years ago. Despite that the pension funds still have enormous reserves and can easily afford the pay outs. This government want more money in the account to use on projects that should be funded from government monies rather than the savings accounts of millions.

I have my pension and property and retire in 5yrs and 8 wks (not that I'm counting) after working in the NHS since the age of 18. Despite being successful in my career because of the economic timing I shall officially have a pension level which will mean I'm on the poverty line

 

Re: Panic measures

Agreed, and you lose the employers contribution.

I haven't even got a pension fund set up. S'pose I best start thinking abart that.

 

Re: Panic measures

don't bother....if you have nowt at retirement age....the state will have to cough up..... depending on your current age...it probably aint worth starting now....buy another lottery ticket is my advice .

hope this helps

 

Re: Panic measures

I've been paying into a private pension for 24 years - Last year I contributed something like £1,300 but according to the statement I got form HSBC the other week, it lost over £800 in value for that year.

My projected pensions is something like £4.5K per year in todays prices.

As thereev says - Why bother.

 

Its strange he shares the same surname with Ozzy because he's acting like him, totally incoherent drug adled nonsense

 

Like

NA