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topliner

Russia Fears No Pension

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£179 quid a month isn't enough to live on in Rural Russia? But £97.65 a week in the uk is enough to live on. IMHO it sounds like your better off in russia...

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"I'm worried, very worried, because I think our grandchildren will not get any pension at all," says one woman who is looking after her two grandchildren playing in the sand. "

Well I reckon by the time I get to retire there'll be nothing for me ... I suspect there'll be no retirement age either...

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Russia already had a pensions problem.

In 1995 Russia Hyperinflated it's way out of debt, Mondo Enduro talked about Millions of Roubles being exchanged hands in 1995. They had a short episode of hyperinflation again at the end of the 1990s.

The USSR guarenteed pensions were ALL honoured, but using this funny money which meant retired people have little to live on, so mostly all Russians have Dachas and grow immense amounts of food to support themselves.

You see Babushkas sitting around bins waiting for people to put plastic bottles or metal cans in them and they scoop them up immediately. The problems are many fold.

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"I'm worried, very worried, because I think our grandchildren will not get any pension at all," says one woman who is looking after her two grandchildren playing in the sand. "

Well I reckon by the time I get to retire there'll be nothing for me ... I suspect there'll be no retirement age either...

A stock market and Bond crash via high interest rates will effectively wipe out private and public pensions if it happens in the next few years, people may get about 10% back in real terms. If it happened the first thing that would happen would be the nationalisation of private pensions most likely as a means of at least having something to pay the current retirees,

QROPS has always been interesting from this perspective, there was little need to offer such a giveaway considering Gordons penchant for ass buggering pension pots that allowed people to move abroad and take their pension pot effectively untaxed after 5 years, im not one for conspiracies but the timing of its introduction in 2006 is still rather fishy even now seeing as it means withdrawal by 2011, possibly just before SHTF

Edited by Tamara De Lempicka

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Guest sillybear2

RussiaPopDeclineChart.gif

Energy is cheap in Russia, looks like a sweet deal compared to the UK.

Edited by sillybear2

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A stock market and Bond crash via high interest rates will effectively wipe out private and public pensions if it happens in the next few years, people may get about 10% back in real terms. If it happened the first thing that would happen would be the nationalisation of private pensions most likely as a means of at least having something to pay the current retirees,

It already happened!

People like my dad in the 1970s and 1980s were told to pay LOADS into their pensions on bad advice, they did, and were guarenteed what sounded like a huge amount of money per month. 30 years of hyperinflation later he still gets his promised amount but it buys very little.

The amount of purchasing power he lost is incredible. Put in £100 get 50p back.

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It already happened!

People like my dad in the 1970s and 1980s were told to pay LOADS into their pensions on bad advice, they did, and were guarenteed what sounded like a huge amount of money per month. 30 years of hyperinflation later he still gets his promised amount but it buys very little.

The amount of purchasing power he lost is incredible. Put in £100 get 50p back.

well for some yes, but for others their pension accrued is not too bad even at this point if there is a stock market recovery, if it were to fall say sub 1K, then the implications of such a fall on pension pots already either completely unfunded or struggling to tread water is worrisome*

well actually its financially catastrophic but i dont want to be melodramatic :D

Edited by Tamara De Lempicka

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RussiaPopDeclineChart.gif

Energy is cheap in Russia, looks like a sweet deal compared to the UK.

Sure energy is cheap in Russia, petrol is 30p a litre sometimes cheaper if you can find 65 or 70 octane stuff.

The problem is they have to use MORE of it much more...

When I say I'm going to pop out to town, say Bolton, it is 3 miles away, Manchester 11.

The next town over is Liverpool 35 miles or Leeds, about 60 miles.

In Russia especially Siberia the next town over is 1-3000km away. Stass the captain of the Irkutsk baikanour bike club said he was going over to the next town to get some parts.... by next town he meant Vladivostok, Irkutsk - 500km to Ulan Ude -> 800km to Chita -> 2000km to Khbavosk 1000km to Vladivostok and back!

Therefore if petrol is 50% cheaper but the distances 10 times bigger then there is no real saving.

This applies to movement of goods and fuel too.

Also don't forget Russian winters are harsh, very which means they keep the heating on via the CH&P stations on 8 months of the year, as well as burn gas/wood in their homes.

In winter if you have a vehicle, in September you turn the ignition on, and leave it on until March at the earliest, you simply don't turn it off. Vehicles which are frozen over you need to light fires under the sump to melt the engine oil as engine oil freezes at -20c

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I expect the UK state pension to be means tested in the coming years. Got a private pension? Great, you won't need any state pension then.

Get your assets together and hide them.

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I expect the UK state pension to be means tested in the coming years. Got a private pension? Great, you won't need any state pension then.

Get your assets together and hide them.

You have more faith in the state than me, when push comes to shove im pretty confident theyll nick the private pensions if they have to

Edited by Tamara De Lempicka

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You have more faith in the state than me, when push comes to shove im pretty confident theyll nick the private pensions if they have to

Yes, that would come next, but there'd be no point in stealing private pensions directly to pay state pensions, this would only come if they were prepared to let old people starve.

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Yes, that would come next, but there'd be no point in stealing private pensions directly to pay state pensions, this would only come if they were prepared to let old people starve.

The private pension pots accrued are quite large, its just taking that money accrued to pay off current /coming pensioners so they dont end up with nothing, they effectively fill a funding gap in the present, the entire point of nationalisation is to avoid old people starving by using the accruals of future pensioners. its sole purpose is to give access to tomorrows money today when it is needed, its just an effective extension of how the state pension already runs, take money from the future to pay today except the monies were private but desperate times call for desperate measures.

Edited by Tamara De Lempicka

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Its not so much fuel costs (which are actually irrelevant to the average city dwelling non-car owning russian anyway ...), domestic energy costs are a fraction of ours, as is most other standing costs of living such as water, and as is public transport - basically in ex ussr countries you pay for a roof over your head and food to eat and thats pretty much it. £10/month for all domestic energy bills and standing charges and taxes is the kind of level were talking about, but then a typical young professional wage, say grad + a couple of year experience, is about £100/month (note that is a highly amortized figure and not representative of places like kiev or moscow).

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http://www.bbc.co.uk...siness-10803227

Well, could it?

Interesting!

topliner

No, it won't happen here.

What will happen is that the pensionable age will rise. By 2030 you will probably only be eligible for a state pension when you turn 92 years old.

And have pension declaration form 5HFT-ANU5 signed in the last 12 months by both parents to prove it.

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Guest sillybear2

Its not so much fuel costs (which are actually irrelevant to the average city dwelling non-car owning russian anyway ...), domestic energy costs are a fraction of ours, as is most other standing costs of living such as water, and as is public transport - basically in ex ussr countries you pay for a roof over your head and food to eat and thats pretty much it. £10/month for all domestic energy bills and standing charges and taxes is the kind of level were talking about, but then a typical young professional wage, say grad + a couple of year experience, is about £100/month (note that is a highly amortized figure and not representative of places like kiev or moscow).

A British pensioner might get twice as much in pension, but they get at least half of that instantly ripped back in council tax and energy bills, so they could be worse off in the UK!

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"I'm worried, very worried, because I think our grandchildren will not get any pension at all," says one woman who is looking after her two grandchildren playing in the sand. "

Well I reckon by the time I get to retire there'll be nothing for me ... I suspect there'll be no retirement age either...

so live your life NOW & brush up on exit methods ?

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No, it won't happen here.

What will happen is that the pensionable age will rise. By 2030 you will probably only be eligible for a state pension when you turn 92 years old.

And have pension declaration form 5HFT-ANU5 signed in the last 12 months by both parents to prove it.

russia are in effect suffering from extremely similar circumstances to the west(might be due to losing so many people in ww2.)

..and they also have the same problem with declining indigenous birth rate.

it might not be the smartest move for them providing armaments to a region that are outbreeding themselves(and the west) in the not too distant future.

should they pick a fight with the west(which I sincerely hope they won't..)..

they have energy dependent europe in their right

energy dependent US on their left

energy-hungry china+india to their south

and energy-rich,but population rampant arabs to the south east,who may well consider using their newly purchased ordnance against resource rich russia also for their own ends.

putin is making a huge f*** up.

...not a good mix at all.

I hope he'll reconsider.....besides,russian/eastern eurpoean women are quite hot!,it's be a shame to see them go to waste.

Edited by oracle

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and energy-rich,but population rampant arabs to the south east,who may well consider using their newly purchased ordnance against resource rich russia also for their own ends.

putin is making a huge f*** up.

...not a good mix at all.

I hope he'll reconsider.....besides,russian/eastern eurpoean women are quite hot!,it's be a shame to see them go to waste.

The Russians only sell inferior or junk to states that buy stuff off them anyway. Stuff like T62s and T72s, they keep the (better) stuff for themselves like the T85s or the Su35s (Putin doesn't want to sell any more to China cus of concerns over copying) The SS-N-20 sunburn missiles for instance were immediately copied, so were the S300 SAM systems.

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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