bogbrush Posted December 15, 2008 Share Posted December 15, 2008 I'd agree and suggest everyone takes it a stage further and begins to plan a totally self reliant future; without benefits or pensions. Relying on a pension pay out is now at worse reckless and at best highly optimistic given the fact that the integrity of the system is smashed into little pieces and the trust has gone for good. Agreed, I stopped making contributions into an approved pension scheme a while back; the whole thing is a tax deferral scheme but without you getting your hands on the money. What's the point of putting funds aside so you can't enjoy the fruit of your labour and letting shysters play with it and take commission either way? Invest it yourself, be careful and invest in something you can use and enjoy. Hell, you miay not even live long enough to draw the damn pension. Quote Link to comment Share on other sites More sharing options...
Sinking Feeling Posted December 15, 2008 Share Posted December 15, 2008 Sounds like he's 'Madoff' with lots of peoples money. Still I know what it feels like, I remember when Mr Sawyer Cumminsucker disappeared with my life savings! Quote Link to comment Share on other sites More sharing options...
abharrisson Posted December 15, 2008 Share Posted December 15, 2008 Agreed, I stopped making contributions into an approved pension scheme a while back; the whole thing is a tax deferral scheme but without you getting your hands on the money. What's the point of putting funds aside so you can't enjoy the fruit of your labour and letting shysters play with it and take commission either way?Invest it yourself, be careful and invest in something you can use and enjoy. Hell, you miay not even live long enough to draw the damn pension. If you do it sensibly you'll probably beat the pension fund managers who seem to always get lower returns in the good times and hit the hardest in the downtimes all the while charging you for underperformance or failure....... the govt's new plans to reduce pension credits to basic rate tax level and instigate national pension plans will I suspect only drive the slightly richer members of society away from centralised pension pots. Final salary schemes were good, money purchase schemes were much worse even with employer contributions, remove the tax credits and anyone over the 40% limit probably will have to reassess their situation completely. Quote Link to comment Share on other sites More sharing options...
Chicken Posted December 16, 2008 Share Posted December 16, 2008 (edited) Who would have thought that this was a fraud? Just ignore that you can practically put a ruler up against the returns... Edited December 16, 2008 by Chicken Quote Link to comment Share on other sites More sharing options...
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