Wednesday, June 13, 2012
Race for pension funds
Yes pensions do enormously impact on house prices. Article points out that as an expatriate you have the luxury of pulling the lot out into a recognised foreign pension scheme. Many have begun to do this, and the those that did so a few years back are undoubtedly extremely glad to have held onto their capital (against the double whammy of sterling collapse against strong currencies + repression of annuity rates). As there are insufficient funds in pension schemes now, this is tantamount to a run on the schemes, particularly as the whole whack is pulled rather than being dribbled out over decades allowing much can kicking.