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Money Box Live - Pension Or Property

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What hacks me off is the chief economist at the BOE Andy Haldane admitted that he couldn't understand pensions and then as a footnote suggested property.

If they were responsible they would warn that the economy is toast but no it HUTH all the way at Beeb.

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I can't believe the question is even asked.

A pension is a kind of wrapper, not an asset class. Repeat.

That's true but I would say disingenuous. Most people in a modern DC scheme treat it as a sort of savings account, with added financial mumbo-jumbo that determines the amount of return in their annual statement. Or in my case lack of return - how can a supposed low-risk near-cash profile manage to lose 1.6% in a year... I am not impressed by the financial superbrains at Fidelity. Just give me the money I can probably get 1% just by sticking it in a real savings account.

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Go on, I dare you to listen...

http://www.bbc.co.uk/programmes/b07v2mdv

Let me guess - lots of wailing and gnashing of teeth that investing in equities/bonds and other traditional asset classes in your pension isn't achieving the returns you need for a "comfortable retirement", so pwoperdee is the answer.

Never mind the recent stamp duty changes, historically high prices and morally dubious rentierism that BTL investing represents

I also suppose no-one mentioned that perhaps people have been historically sold a pup in terms of their expectations around how early you can retire and how hard you need to have saved

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You can see how this is going to play out. More teeth gnashing in a few years when these mugs investors notice that their the sad punters left to catch the falling knife.

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That's true but I would say disingenuous. Most people in a modern DC scheme treat it as a sort of savings account, with added financial mumbo-jumbo that determines the amount of return in their annual statement. Or in my case lack of return - how can a supposed low-risk near-cash profile manage to lose 1.6% in a year... I am not impressed by the financial superbrains at Fidelity. Just give me the money I can probably get 1% just by sticking it in a real savings account.

Charges. Probably. But yes the mumbo jumbo is excruciating.

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What hacks me off is the chief economist at the BOE Andy Haldane admitted that he couldn't understand pensions and then as a footnote suggested property.

If they were responsible they would warn that the economy is toast but no it HUTH all the way at Beeb.

I assumed Haldane would be the presenter!

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