We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Terry Smith solution
Comments
-
So, if you're a civil servant, the government puts money into a pension fund for you, and maybe gives you some money that you have to put into the pension fund before you ever see it. The pension fund lends it back to the government, which spends it and gives the pension fund a gilt-edged IOU saying that in 30 years time it promises to raise the tax revenue, or borrow, to pay the pension fund so the pension fund can pay the pension.No because I don't think sticking our heads in the sand is a viable long-term solution.
What a pointless exercise. But it all makes work for the working City man to do I suppose.
Pension funds are a delusion."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
grizzly1911 wrote: »The strap line originally that computers and automation would lead to us all working less and having more leisure time whilst at the same time increasing productivityI remember that one
They promised we'd work less like the Jetson's ten hour week. And spend all our spare time down the leisure centre (instead of the dole queue!)
They thought the future would be like this, with personal transport pods.There is no honour to be had in not knowing a thing that can be known - Danny Baker0 -
Pension funds are a delusion.
I disagree. I am a trustee of a small private sector final salary scheme. Those who worked for the company for a reasonable period of time will be able to leave and have a good pension if they joined (bizarrely many don't join schemes). We've worked hard with the employer to build up the scheme and even in the current climate it is almost fully funded. This isn't a big city scheme, but one run by a manufacturing company and which hasn't closed to existing members (though a different scheme runs for new ones). Pensions can work well, in spite of governments of both colours screwing things up. There are bad funds, there are stupid governments, but it doesn't follow that pension funds are a delusion.Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
0 -
But what with? Only paper. You've handed the money over to governments and companies, who have spent it all. In return, you've got bonds and shares. These are just so many pious promises and hopes that in the future the money will be around to redeem the paper so that you can pay the pensions. If the economy tanks, the paper may become worthless, or it may retain its cash value, but in wallpaper money.vivatifosi wrote: »and even in the current climate it is almost fully funded.
Of course there are the index-linked gilts, which pension funds are rather addicted to. The Treasury issues them as a prop to the pension funds, which would struggle without them. But (unlike conventional gilts, which are written down by inflation) they depend on the Treasury's future ability to carry on taxing and borrowing at current levels in real terms. A serious problem in a declining economy.
A pension fund stakes a claim for a slice of whatever money is around in future, but it can't guarantee that money will be around."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
They promised we'd work less like the Jetson's ten hour week. And spend all our spare time down the leisure centre (instead of the dole queue!)
They thought the future would be like this, with personal transport pods.
That had me going for around 10 secs, Blockbuster videos 'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.8K Mortgages, Homes & Bills
- 177.5K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards