Brexit vote

BobQ

uk1 wrote: »

I understood perfectly what he said, thanks.



Jeff

You said that Cameron said the triple lock would go. He only said that it was a possibility. So were you misrepresenting Cameron or agreeing with him?

uk1

BobQ wrote: »

Jst because his statements are unparalleled in your memory does not mean he is wrong.

The impact on pensioners matters to them and it is one source of Government spending that could be cut. Or we could put your taxes up

Bob,

You have a new quote about common sense at the bottom of your footer.

You clearly believe that an exit from the EU would cause serious harm to the UK in the longer term and I wouldn't waste a moment of your time in attempting to convince you otherwise.

What you,might choose to reconsider however, is simply the common sense choices a government would choose from the different options they have if things turn out as badly as you believe.

Currently the largest group of people that feel cheated by the EU are the elderly who feel that they voted for one thing and ended up with something that was always intended but was not on the form. They feel both cheated and feel that their choice has harmed the country and many feel a bit guilty about it. Whatever they feel individually, collectively they want to put it right. They are also the most experienced, wisest, least gullible, and perversely can foresee the future most accurately than any other segment of the electorate.

Whatever your economic acumen and judgements, turkey's rarely vote for Christmas. It is easier to give benefits to win votes than to remove benefits once given and enjoyed, when you offer to remove them in a manifesto, particularly if you are targeting the group that will decide who governs.

In the unlikely event that the UK leaves the EU and we are then plunged into the economic quagmire you and your cohorts predict, I predict that the preference will be to leave the triple lock where it is, and to raise taxes elsewhere and to raise long-term borrowing and let taxes for those "rich" pensioners take their eventual tole. You cannot make laws unless you are in power, and the increasing number if elderly will decide who is in power.

Jeff

redpete

uk1 wrote: »

...the elderly ...are also the most experienced, wisest, least gullible, and perversely can foresee the future most accurately than any other segment of the electorate.

Many of the elderly are the most set in their ways, the least likely to be persuaded by other opinions, the least likely to drop their misguided preconceptions.

uk1

redpete wrote: »

Many of the elderly are the most set in their ways, the least likely to be persuaded by other opinions, the least likely to drop their misguided preconceptions.

We are, are we? I take it that you aren't in that group?



Jeff

uk1

BobQ wrote: »

Personally I think that the triple lock will go and Brexit will be a great excuse. That said if the Pensioners really are voting in their droves to Leave, it seems fair they should reap what they have sown. Something the younger generation might well support since it is their future the pensioner generation will have damaged.

When you say "the triple lock" do you mean all of it or just the 2.5%?

Jeff

danlightbulb

I am wondering whether I should move my pension fund into cash to protect it against stock market crashes in the event of a leave vote? If nothing happens then I've lost nothing except for a month or two of potential growth, but doing so has the potential to not cost me tens of thousands of pounds worth of pension pot value if the worst happens.

Should I do this?

AnotherJoe

danlightbulb wrote: »

I am wondering whether I should move my pension fund into cash to protect it against stock market crashes in the event of a leave vote? If nothing happens then I've lost nothing except for a month or two of potential growth, but doing so has the potential to not cost me tens of thousands of pounds worth of pension pot value if the worst happens.

.... or the 10-15% bump on the morning after a stay vote. Maybe.
.... or the bump in non UK shares as foreign currencies rise against Sterling, pretty much certain so all your cash is immediately devalued, when you come to buy back lets say Shell, since oil is priced in Dollars they might cost you 20% more.

Unless you are only invested in the UK and buy shares of companies that only trade in the UK (and then they have to buy in supplies from outside the UK). The FTSE 100 is pretty much shares that mostly trade outside the UK in non sterling currencies/


No one knows whats going to happen. Make your own mind up if a leave will happen, if leave is priced in (mostly) already and what it means for other shares / funds.

LittleVoice

I've just listened to the repeat of Saturday's Radio 4 Money Box programme.
It included a section on pensions for our citizens who live abroad in the EU.
I know that currently increases in UK-paid pensions apply to those who are in the EU but not for those outside in, say, New Zealand or Canada. It was suggested that it was the EU which insisted on this link with the home country pension amount.
The programme then went on to say that if we left the EU we would have to have individual agreements with the countries in the EU on what pension could be paid to our citizens. Surely this cannot be true - unless it is not the UK which pays the pensions but the other EU states. Why would we need to agree with another country what we could pay our own citizens who just happen to live in the other country?

uk1

You are quite right, we don't.

If the UK leaves the EU, the EU most certainly cannot mandate what pensions it pays it's citizens wherever they live.

Jeff

BobQ

uk1 wrote: »

When you say "the triple lock" do you mean all of it or just the 2.5%?

Jeff

I suspect it will revert to CPI uprating