Petition to guarantee pension contributions

Pastyman_2

My wife has created an e-petition asking the Prime Minister to guarantee contributions made by employers and employees into personal pension schemes. It states that "The government has been keen to promote personal pensions, encouraging us to save for retirement. Due to the economic crisis many people are now finding that the value of their pension fund is worth less than their total contributions, even after many years of saving. It is also particularly galling for the general public to see bankers getting huge bonuses, paid out of the public purse, as well as having pension funds of millions of pounds. The government was very quick to guarantee savers’ deposits when the banks were in trouble and should now guarantee all contributions made into personal pensions, thereby giving equal treatment to those who have worked and saved hard for their retirement."

If you agree please follow this link to sign.

http://petitions.number10.gov.uk/pensionguarantee/

dunstonh

Due to the economic crisis many people are now finding that the value of their pension fund is worth less than their total contributions, even after many years of saving.

If you cant take the heat then get out of the Kitchen.

You choose where you invest. If you dont want areas that are as volatile then dont invest in them.

The government was very quick to guarantee savers’ deposits when the banks were in trouble and should now guarantee all contributions made into personal pensions

Pensions have higher FSCS protection than savings as there is no cap on the amount.

If you agree please follow this link to sign.

I dont. Setting up a petition to ask the Govt to underwrite your personal investment choice if it doesnt go well is being greedy. You dont have to invest on the stockmarket. Thats your choice. The taxpayer should not have to underwrite your choice if you get it wrong.

Instead, you should alter your investments to suit your risk profile and if that means using cash because you are unable to cope with a short term loss, then so be it.

Biggles

Pastyman wrote: »

My wife has created an e-petition asking the Prime Minister to guarantee contributions made by employers and employees into personal pension schemes. It states that "The government has been keen to promote personal pensions, encouraging us to save for retirement. Due to the economic crisis many people are now finding that the value of their pension fund is worth less than their total contributions, even after many years of saving. It is also particularly galling for the general public to see bankers getting huge bonuses, paid out of the public purse, as well as having pension funds of millions of pounds. The government was very quick to guarantee savers’ deposits when the banks were in trouble and should now guarantee all contributions made into personal pensions, thereby giving equal treatment to those who have worked and saved hard for their retirement."

If you're going to devise yet another of these pointless petitions, then at least stick to the point. Bankers' bonuses? What's that got to do with it?

nobblyned

The value of your investment can go down as well as up, past record is no guarantee of future performance, etc. etc.

You think there was some miraculous way in which shares bought through a pension shouldn't be allowed go down???

bendix

Compltely agree with dunstonh.

There is a very very easy way to guarantee pensions savings without using government intervention: put it under your mattress.

If you are investing for the future (either via a pension or any other means) you have to learn about the nature of those investments and understand your risk profile. It's up to you to protect yourself, not the government. Whatever happened to personal responsiblity in this country?

If people don't have the gumption to know that investing in shares for a pension funds involves a degree of risk, they deserve to get burnt. Noone pushes you into risky investments - you choose that yourself. You get seduced with past performances of 20% growth, and think it's a god-given right year in, year out.

Well, time to wake up and smell the roses people.

You werent really as rich as you thought you were over the last few years. Those house prices and pension funds were fueled by a speculative bubble of your own creation, and those LCD tvs? Bought on hock.

It's reality check time.