In message , at
05:32:55 on Thu, 21 Mar 2013, Man at B&Q remarked:But the funds were predicted to grow as a result of those "returns" (which most people expect from 'investments') and the raid reduced the net returns (increasing the treasury's take) and hence tore up any earlier predictions about the final worth of these investments.
Just like FIT payments
Actually I'd have said making you pay now for what you've already had on tick.
It was a tax on dividends which themselves were only a few % of the fund.
Maybe I was lucky, I had good advice from the company pension scheme trustees about what it really meant, and acted accordingly.
MBQ
In message , at
07:53:05 on Thu, 21 Mar 2013, Man at B&Q remarked:Dividends are an important contributor to the growth in pension fund value, especially for the sort of shares that big pension companies "invest" in.
In message , Man at B&Q writes
Do you mean fall off a boat (they didn't) or raid pension funds (they did, both private and public)
Same difference
But a few % on a year on year basis, so over say 30 years adds up to quite a bit.
It's passing quite a lot of it on to borrowers.
In message , Tim Streater writes
I haven't got anything "on tick". Pensioners still pay taxes.
If you owe any money, you are making a fortune at my expense.
Like I said, I more than pay my way.
Perhaps not you personally, but the UK population as a whole.
No more than you need to account for and plan for due to other influences on returns over the same time frame. So not really a big issue.
MBQ
The funds remained intact. He did not do a Cyprus on them. It's very different.
MBQ
Whether or not other influences are bigger or smaller is irrelevant. This is one specific adverse factor caused by a grab on the funds by the last Labour government as they started running out of cash long before the credit-induced banking crisis.
In message , Tim Streater writes
Oh I totally agree with that general sentiment, both personal and government debt around £1trillion each in the UK.
Speak for yourself! Even with my partner we don't owe a trillion...
ISTR it amounted to about 5 billion a year. And it's probably no coincidence that company pension schemes all seemed to evaporate shortly afterwards.
Andy
But we'll see that back when they re-sell the assets after we're out of the shit
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