RonJeremy Posted August 9, 2011 Share Posted August 9, 2011 Too late. Damage done. I think I agree with you. GB TB and his cronies raiding the pension funds and spend spend spend for 13 years Too late! Damage done! Link to comment Share on other sites More sharing options...
RonJeremy Posted August 9, 2011 Share Posted August 9, 2011 When you say "raid the pension funds", I assume you mean "removed the tax relief on dividends paid into pension funds"? Yes I think that's how they started to detroy the pension system that was the envy of the world Link to comment Share on other sites More sharing options...
I1L2T3 Posted August 9, 2011 Share Posted August 9, 2011 Yes I think that's how they started to detroy the pension system that was the envy of the world More facile argument straight off the pages of the Daily Mail. When relief on tax dividends was removed most funds were in serious surplus. Tax relief was effectively a 20% subsidy for private pensions, a level of support rarely enjoyed by recipients of public pensions. Many companies and corporations threw the rattle out the pram after the tax relief removal by slashing what they put in. People whose corporate pensions shrank in value need to be asking questions of their employers and pension trustees. That is who they were let down by - not by the removal of an unfair 20% subsidy that was provided at taxpayer expense. Link to comment Share on other sites More sharing options...
I1L2T3 Posted August 9, 2011 Share Posted August 9, 2011 Not a very good reply to a serious question. Please tell - what can Osbourne do. Regards Angel. Seriously, he can do nothing for the pensioners that have had to compulsorily convert their pension funds to annuities in the last two weeks. Nothing at all. Their income for the rest of their life has been reduced by 10-20%. Sad. Link to comment Share on other sites More sharing options...
barleycorn Posted August 10, 2011 Share Posted August 10, 2011 Seriously, he can do nothing for the pensioners that have had to compulsorily convert their pension funds to annuities in the last two weeks. Nothing at all. Their income for the rest of their life has been reduced by 10-20%. Sad. In all fairness anyone who hadn't switched their pension fund from shares to bonds in the final years approaching retirement is an idiot. jb Link to comment Share on other sites More sharing options...
truman Posted August 10, 2011 Share Posted August 10, 2011 More facile argument straight off the pages of the Daily Mail. When relief on tax dividends was removed most funds were in serious surplus. . Can you explain to me how my private defined contribution pension can be "in surplus"? Genuine question... Link to comment Share on other sites More sharing options...
chem1st Posted August 10, 2011 Author Share Posted August 10, 2011 there is no need for quantitative easing the stock markets will rise in september when the real dealers come back from their holidays FTSE down another 3% today. Dax and Cac40 both down by over 5% Dow Jones down 4%. Link to comment Share on other sites More sharing options...
chem1st Posted September 23, 2011 Author Share Posted September 23, 2011 there is no need for quantitative easing the stock markets will rise in september when the real dealers come back from their holidays http://www.bbc.co.uk/news/business-14920735 The pension income bought from retirement savings has fallen by 14% compared with the start of the year owing to market turmoil, experts say. Then consider that that lower pension will buy even less as prices are rising... Share prices are falling and QE will be needed to prop them up, which will drive inflation and destroy the spending power of peoples pensions. Link to comment Share on other sites More sharing options...
Grandad.Malky Posted September 23, 2011 Share Posted September 23, 2011 i blame the landlords just preempting direction this thread is going totake in an oh-so predictable manner I blame Thatcher. Link to comment Share on other sites More sharing options...
I1L2T3 Posted September 23, 2011 Share Posted September 23, 2011 Can you explain to me how my private defined contribution pension can be "in surplus"? Genuine question... Many corporate funds were in surplus at the time the tax relief was removed. In that sense it was a completely rational move - why subsidise already healthy private corporate funds? Link to comment Share on other sites More sharing options...
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