Thought Id start this one going because its rather dead on this board at the moment and I suppose all my usual muckers are either at the Stella tennis event watching Dim Tim (lose again) or at Henly Regatta eating cucumber sandwiches (they wish,...NOT).

Anyway please feel free to just talk to yourself blast away and let it go on any company or subject you wish. Just wish Id thought of this one before.

cheers GF.

wtf is going on?



Pensions face new blow from ministers

Final salary schemes could be left at mercy of inflation unless they are in public sector



By James Kirkup, and Nicole Blackmore

10:00PM GMT 07 Nov 2013



Private-sector workers could see their final salary pensions “eaten away” by the rising of cost of living after ministers proposed removing legal protections against inflation from “gold-plated” retirement funds.


Almost two million employees who are still part of final salary schemes could lose the legal right to have their retirement income rise in line with inflation under the proposals.


The change, which would not apply to public sector workers, could cut the spending power of a pension by almost a third over a 15-year retirement.


Workers could also be forced to wait longer before drawing their pension because companies would be allowed to delay workers’ retirement in an effort to save money.


Additional benefits such as survivors’ rights, which pay an income to widows and widowers, could also be lost.


more: http://www.telegraph.co.uk/finance/personalfinance/pensions/10434720/Pensions-face-new-blow-from-ministers.html

but not public sector? .... now there's a surprise!

maxk . pensions are a dirty name any one putting their good money into a pension
ARE FOOLS . all pensions are a complete rip off today .

any one earning £300 aweek paying 6% over the next 30 years
with no inflation will get less than £1560 a year or £ 30 aweek
which stops them getting any help with anything .

spend your money enjoy your life while you can

pensions are not for the working class you are just giving your money away

But whats behind it?


Bust banks?

simple this gov want the working class to pay for all the IMMIGRANTS who will never
put one penny aside for their retirement .

fact not fiction
immigrants on low wages save nothing they send it back home
not one migrant at my wifes place of work pays into the pension they refuse

Anybody know what the average pensions of an MP, Cabinet minister, or PM are at retirement?

waiting for a post to say I am wrong from you no who

before he does I will say tthis I retired at 53 now 66 going 67
never paid into a PENSION that was for fools I invested my self in shares
re invested my dives now live of the divs and my old age pension that I only just taken of 13 872 ayear .

pensions are for fools

I agree with you Tanker.

Workers paying into defined contribution schemes are lambs to the slaughter, you pays your money and the chaps from the city grow fat.

And now they are trying to kill final salary schemes.

Looks like the choice is either work for the gov, or go to the black economy cos no one is looking out for the average worker anymore.

If pensions were simply about how much someone contributes, she might have had a valid point. At up to 13.75pc of salary, currently £9,039, MPs’ pension contributions are amongst the highest, whether compared with private or other public sector schemes. What she did not mention was that the Exchequer’s equivalent of an employer’s contribution is now running at a colossal 28.7pc of salary for each MP.


In return for saving this money, MPs accrue 1/40th of salary per year of service. This means that if they were to retire tomorrow, they would receive an annual pension, linked to CPI (consumer prices index), of £1,643, based on that year’s contribution alone. To put this into some kind of perspective, it would cost a healthy man retiring at 65 about £45,000 to buy an annuity that would provide a similar pension.

PM's pension is probably pretty paltry at the basic level, as his salary is also pretty pathetic relative to his responsibilities .... however, his "add-ons" from various sources will of course be significant, even if it's not relevant

i'ld guess a cabinet minister's pension is no different from that of an ordinary MP, as effectively that is all he is, other than for his 5 minutes in the limelight

and surely, an MP is not much more than ordinary bod who happens to spend part of his life in politics and parliament

maxk . the private sector is not worth working for .

if you do not work for the public sector its BAD luck

tell your children not to put good money in to a pension


as I have said many times a switch my cash to my children no tax
I lose at the racing they are very very lucky .I lose 20k they win 20k
my choice of horse is bad they back winners
the irish have been doing it for 100 years

Well you Tories voted I D SMITH in.

You now look like you will know whats hitting and facing genuine disabled and sick people in this country.

The mans a menace who doesnt give a toss as long as he and his wife betsy protect her millions.

Facing a £425 million pound write off on Universal Credit aswel through him.

He should be kicked out of government.

And yes Im going to suffer aswel.

TANKER is right, pensions are not good and open to raids by cash strapped governments. ISA's and cash ISA's are the way to go and have been for many years, but discipline is required.
2517

Iain Duncan Smith's second epiphany: from compassion to brutality
I've seen his benefit sanctions inflict misery on places like Easterhouse, where poverty made him weep a decade ago

Follow Polly Toynbee

The Guardian, Friday 8 November 2013

http://www.theguardian.com/commentisfree/2013/nov/08/duncan-smith-poverty-benefit-sanctions-easterhouse

For cynic,

I am glad we don't have any secrets.

2517 thank you .
but waiting for a certain poster lets see if he agrees

Wheres hays ?.

Widows could lose their historic right to a pension under plans to halt the ‘terminal decline’ of final salary schemes.

Private sector bosses currently have to make payments to a retired worker’s surviving spouse, typically worth at least half their full pension.

But that obligation would end under proposals from the Department for Work and Pensions.


the people making the decisions on gold plated pensions sticking the knife in to the private sector workers .
you could not make this up
a dam disgrace

out of curiosity, do any of you guys trust pension funds with your money?
i've taken all mine out of their sticky and useless hands and put my pot primarily into bricks and mortar, with any spare cash generated from the rentals to be put into SIPP shares of my choosing