caparo Posted November 21, 2011 Share Posted November 21, 2011 From the linked article in the OP, this would hit higher rate tax payers. By contrast, Brown's pension refoms hit all pension savers, not just the wealthiest. Not to mention that it is only a rumour with no evidence to back it up either. Link to comment Share on other sites More sharing options...
I1L2T3 Posted November 21, 2011 Author Share Posted November 21, 2011 And you can lie about it as many times as you like but he did. (Well by now it is nearer £120 Billion). http://www.thisismoney.co.uk/money/pensions/article-1603390/Browns-pension-raid-cost-savers-pound100bn.html Brown's pension raid 'cost savers £100bn' Gordon Brown's ruthless raid on pension schemes has cost the country's savers at least £100bn, a report claimed yesterday. For the first time, the devastating impact of the Chancellor's controversial tax grab in 1997 has been revealed. He scrapped the tax relief on dividends paid into pension funds just a few weeks after Labour came to power. Shadow Home Secretary David Davis has described the move as one of the 'great scandals of the last decade'. The report, from Terry Arthur, a fellow of the Institute of Actuaries, warns the decision has cost Britain's pension savers at least £100bn. This is equal to the entire annual economic output of Ireland, or 50 years of Tesco's annual profits at £2bn a year. But as the title of your thread is just a lie about something that may or may not even be in someon'e mind. Telling lies seems to be something of a speciality of yours. He didn't take anything out of the funds. He took away a massive subsidy on private pensions, kind of like weaning an addict off a drug they should never got into in the first place It's ridiculous to try and pin any shortfalls on Brown's actions alone. We've had the dot com bust since then, an ongoing crisis since 2008 etc... People should be looking at the funds that manage their pensions and asking serious questions, not looking for a big pensions bogey man. By the way no need to get abusive old chap. Link to comment Share on other sites More sharing options...
I1L2T3 Posted November 21, 2011 Author Share Posted November 21, 2011 Not to mention that it is only a rumour with no evidence to back it up either. It's in the Express . It's from the right wing Link to comment Share on other sites More sharing options...
caparo Posted November 21, 2011 Share Posted November 21, 2011 He didn't take anything out of the funds. He took away a massive subsidy on private pensions, kind of like weaning an addict off a drug they should never got into in the first place It's ridiculous to try and pin any shortfalls on Brown's actions alone. We've had the dot com bust since then, an ongoing crisis since 2008 etc... People should be looking at the funds that manage their pensions and asking serious questions, not looking for a big pensions bogey man. By the way no need to get abusive old chap. How odd then that everyone is entitled to pay money TAX FREE into their pension fund. The general idea is that having tax free savings like pensions and ISAs is supposed to encourage people to save for their old age. It was Browns pension grab that stopped many people from contributing to a pension and robbed the pension funds of £120 BILLION which is round about the shortfall in the funds at this moment in time. On the other hand you starta thread making claims which are just based on speculation. But that doesn't stop you claiming it as fact. I doubt you would know the truth if it jumped up and bit your bum. Link to comment Share on other sites More sharing options...
caparo Posted November 21, 2011 Share Posted November 21, 2011 It's in the Express . It's from the right wing I think you'll find you are claiming as truth what the paper is claiming as speculation. Link to comment Share on other sites More sharing options...
L00b Posted November 21, 2011 Share Posted November 21, 2011 What's all this then?The sound of my offshore IFA calling on my private line Link to comment Share on other sites More sharing options...
I1L2T3 Posted November 21, 2011 Author Share Posted November 21, 2011 How odd then that everyone is entitled to pay money TAX FREE into their pension fund. The general idea is that having tax free savings like pensions and ISAs is supposed to encourage people to save for their old age. It was Browns pension grab that stopped many people from contributing to a pension and robbed the pension funds of £120 BILLION which is round about the shortfall in the funds at this moment in time. On the other hand you starta thread making claims which are just based on speculation. But that doesn't stop you claiming it as fact. I doubt you would know the truth if it jumped up and bit your bum. I never claimed anything. I linked to an article and asked two questions. Then you got your knickers in a twist without obviously having read anything about the actual changes Brown made. Read the OP again please. Then retreat to do some reading before being abusive again. Link to comment Share on other sites More sharing options...
I1L2T3 Posted November 21, 2011 Author Share Posted November 21, 2011 I think you'll find you are claiming as truth what the paper is claiming as speculation. When did I ever say it wasn't speculation? Link to comment Share on other sites More sharing options...
truman Posted November 21, 2011 Share Posted November 21, 2011 When did I ever say it wasn't speculation? The title of the thread appears to suggest it was happening... very misleading but that's why you did it.. Link to comment Share on other sites More sharing options...
Grandad.Malky Posted November 21, 2011 Share Posted November 21, 2011 He didn't take anything out of the funds. He took away a massive subsidy on private pensions, kind of like weaning an addict off a drug they should never got into in the first place . My nan used to say make hay while the sun shines ………… what did the pension funds do ……… they thought it would be a good idea to take a “holiday” while the sun was shining ............ Is that stealing money? Pension fund contribution holidays were commonplace in the 1980s and 1990s as rising stock markets and relatively high interest rates produced pension fund surpluses. However, stock market reverses, and the stricter actuarial assumptions which followed the implementation of the FRS 17 accounting standard in the early 2000s and the establishment of the Pensions Regulator, were adopted, and many pension funds fell into deficit. That largely ended the practice of contributions holidays. FT.COM Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.