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



The Clamp

Well-known member
NSC Licker Extraordinaire
Jan 11, 2016
24,155
West is BEST
You won't have a say in who the pension administrators are but you will (or should, within a range) be able to chose where your £'s are invested.

If you don't specify they will invest fairly conservatively and then the nearer you get to retirement they will shift the mix further and further from equities. All done to protect your pot but you absolutely miss out on a ton of upside opportunity imo

Thank you, much appreciated.
 

The Clamp

Well-known member
NSC Licker Extraordinaire
Jan 11, 2016
24,155
West is BEST
You don't know if you have a say?? I can think of many answers to that, but the kindest is 'go and find out'. Make it your business to know. It's your money. Nobody cares about it like you do. You obviously care deeply about it, hence this thread !

I'm guessing that you therefore don't know where it is invested. Find this out as well. Does it meet your criteria in terms of risk, growth, income, 'greenness' etc?

Imagine reaching retirement, and being disappointed with what it provides you with. You will have nobody to blame but yourself. You outsourced it to someone because it was expedient, but the outcome will be a result you cannot reverse.

In 2010, I gathered up several DC pensions and put them all in a Self Invested Personal Pension. It was a best decision I ever made. I manage it all myself, and I take full responsibility for all my investment decisions, successes and failures.

If you had had your own SIPP, you would not have been so angry as you wouldn't have been so powerless over where your pension was invested. You probably wouldn't have even written this thread......

I am on it now. Thank you.
 

nicko31

Well-known member
Jan 7, 2010
17,488
Gods country fortnightly
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.

Last 5 years...

FTSE 100 - 3%
FTSE MIB (Italy) - 51%
CAC 40 (France) - 51%
DAX (Germany) - 52%
Euronext (Netherlands) - 48%

Fundamentally the UK is about the cheapest in the world. It might be worth a punt, every dog has its day.

If Johnson says look beyond the FTSE maybe now is the time, its largely International anyway just tainted by Brexit
 

Jolly Red Giant

Well-known member
Jul 11, 2015
2,615
What do you expect?

The Tories don't give a sh*te about how people survive in their old age - they just want to line their pockets and those of the wealthy oligarch pals (and by the way - Starmer is no different).
 


nwgull

Well-known member
Jul 25, 2003
13,632
Manchester
A Pandemic underway across the world and Share Prices going up.

Unless they were Big Pharma with Vaccines to sell why would they do so?

Share prices have gone up; that’s what an index shows. The fact that your pension fund has rocketed in this time reflects that.

Do us a favour though: Next time you have a question that you put out there (twice) for helpful people like me to waste 5 minutes of my life answering, just don’t bother when you seem to be so dismissive and calling the answer nonsense.
 
Last edited:

Charlies Shinpad

New member
Jul 5, 2003
4,415
Oakford in Devon
Strangely enough I got my yearly pension statement through today and it's gone up by 10%.
All invested in American stocks etc, so I'm happy at the moment.

Sent from my EML-L09 using Tapatalk
 

beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
35,237
A Pandemic underway across the world and Share Prices going up.

Unless they were Big Pharma with Vaccines to sell why would they do so?

massive liquidity from US quantitative easing buying every bond in sight, so capital spills over into stocks.
 


Jan 30, 2008
31,981
I had hours cut last year due to a reshuffle of day shifts. My wage went down by £300 pm overnight. That’s a lot of money to me. Had to take a pension break for almost a year as we had no overtime due to Covid as all annual leave was cancelled.
It’s cost me a fortune in savings. Am now back to making contributions but that was an expensive year. I don’t mind admitting it pushed me to the edge financially and mentally. Working 14 hour night shifts and not being able to save. Basically working to pay a few bills. I consider myself lucky that I didn’t go under.

Sounds tough in that gate house Nibble, 14 hour night shifts ?
Regards
DF
 


portslade seagull

Well-known member
Jul 19, 2003
17,580
portslade
My wife invested her pension pot and is drawing down at £600 a month so not a great deal over the last year. This is a rate which would see her to the grand old age of 92. She received her end of year statement and her pot actually increased by £1500 over the last year so draw down has basically not affected the total at all. So currently conditions are favourable
 

The Clamp

Well-known member
NSC Licker Extraordinaire
Jan 11, 2016
24,155
West is BEST
My wife invested her pension pot and is drawing down at £600 a month so not a great deal over the last year. This is a rate which would see her to the grand old age of 92. She received her end of year statement and her pot actually increased by £1500 over the last year so draw down has basically not affected the total at all. So currently conditions are favourable

Been overhauling my pensions this afternoon. All looking up. Encouraging.
 

GT49er

Well-known member
Feb 1, 2009
46,377
Gloucester
That is what it said of this morning but my Financial Advisor told me a while back not to depend on HM Governments largesse.

I think his phrase was You'll be able to pay the gas and electric bills and run your car but don't think you can have any holidays

Hence my other 3 pensions!
Your post stated, "......... then there is the State Pension which I won't get until 2017" - !n that case you're owed nearly four years of arrears - we got to 2017 four years back!
 



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