The Great Pension Liberator

chucknorris

zagfles wrote: »

Sorry didn't mean all of you, but I'm sure we'll have some people on here whining about it...but not the clued up ones!

Perhaps I shouldn't say this, but based on conversations that I have had with colleagues, I think that many don't really understand just how valuable the pension is. All they seem to know is that they now have to pay a bit more for what they already had, without appreciating the fantastic value that it still is. As I said above, I think that the recent changes did not go far enough.

kidmugsy

chucknorris wrote: »

Perhaps I shouldn't say this, but based on conversations that I have had with colleagues, I think that many don't really understand just how valuable the pension is.

Which means, of course, that these extravagantly expensive pensions do a lousy job of attracting and retaining staff. So bin them, and use filthy lucre to a & r staff instead.

kidmugsy

Come to think of it, pension aficionados should give a tip of the hat to Steve Webb too. He must have been the best Pensions Minister since Lord knows when.

hugheskevi

Come to think of it, pension aficionados should give a tip of the hat to Steve Webb too.

Indeed.

Striking to compare Steve Webb's time in office to other Ministers for Pensions.

Since 1997 the second-longest serving Minister for Pensions behind Steve Webb (5 years) was Ian McCartney, who was in office for two years between June 2001 and June 2003. 5 Ministers served for a year or less during the period 1997-2010.

Full list of Ministers here.

mark55man

hugheskevi wrote: »

Indeed.

Striking to compare Steve Webb's time in office to other Ministers for Pensions.

Since 1997 the second-longest serving Minister for Pensions behind Steve Webb (5 years) was Ian McCartney, who was in office for two years between June 2001 and June 2003. 5 Ministers served for a year or less during the period 1997-2010.

Full list of Ministers here.

That is shocking.

As I near 55 (years now rather than decades) this is increasingly important.

All I can say is - thank the Lord that Gove has found a berth elsewhere. I also sincerely hope they don't put a bright young thing in - although as MPs are all on generous DB schemes I am not sure any of them will truly understand the impact of what they may be about to do to us

chucknorris

kidmugsy wrote: »

Which means, of course, that these extravagantly expensive pensions do a lousy job of attracting and retaining staff. So bin them, and use filthy lucre to a & r staff instead.

The pension was the only thing keeping me in my job for about the last 3 years, otherwise I would have just retired. But as I said above, I can't see them lasting in their current form, they are still unsustainable, and need to be changed.

kidmugsy

Back to the question of how Osborne is to raise more tax.

Housing: he could start off with BTL.

Pensions and ISAs: how about a dividend tax?

Personally I'd like to see them tear up their silly promise on overseas aid, or simply charge half the armed forces budget against the overseas aid budget. Mainly we seem to use the forces to wreak aid and destruction overseas, so it would be a reasonable thing to do.

I'd also like to see them stop trying to keep a house price boom going. It seems to me to be a policy without virtues.

Other than the promised IHT limits, I can't see a case for any more largesse on the personal finances front. Unless they really did pull off massive cuts in the budget for doles: but some of the doles are necessary if various hard-luck cases are to be kept going.

By golly they've painted themselves into a corner. I suspect they didn't really expect to win a majority on their own.

gadgetmind

kidmugsy wrote: »

Come to think of it, pension aficionados should give a tip of the hat to Steve Webb too. He must have been the best Pensions Minister since Lord knows when.

And he's probably relieved that he won't be getting any more missives from me.

dddave999

Pension freedom!

Just been informed by Vodaphone that they will not be processing my request to withdraw my pension until 22 May 2015. Because of a ‘disinvestment blackout’ They have had all signed paper work since 30th April 2015.

Just a way of hanging onto your money a bit longer?
Are they making up the rules as they go along?

Will I ever trust my money to a pension fund again!! “Bleeep NO!”

jem16

dddave999 wrote: »

They have had all signed paper work since 30th April 2015.

So 10 days and even less working days.

Just a way of hanging onto your money a bit longer?
Are they making up the rules as they go along?

No they're just busy with everyone rushing to cash in, wisely or otherwise.

Will I ever trust my money to a pension fund again!! “Bleeep NO!”

Bit of an over reaction really. Might be best to calm down.