It's time to start digging up those Squirrelled Nuts!!!!

GibbsRule_No3.

https://www.standard.co.uk/business/business-news/chancellor-promises-big-bang-for-pensions-in-bid-to-boost-growth-b1171913.html

Do I worry about my squirrelled nuts or look forward to a higher return on my Pension savings?

zagfles

GibbsRule_No3. said:

https://www.standard.co.uk/business/business-news/chancellor-promises-big-bang-for-pensions-in-bid-to-boost-growth-b1171913.html

Do I worry about my squirrelled nuts or look forward to a higher return on my Pension savings?

Wait to the see the details. I suspect it's mainly a continuation of the previous govt's attempt to try to use pension funds to achieve their own objectives, eg growth, net zero etc. Like the pressure put on pension funds to incorporate "ESG" factors into their default funds, invest in "high growth" areas like startups etc, eg see

Proposed Pension Changes by Jeremy Hunt to invest in UK Start Ups — MoneySavingExpert Forum

GibbsRule_No3.

zagfles said:

Like the pressure put on pension funds to incorporate "ESG" factors into their default funds, invest in "high growth" areas like startups etc, eg see

Proposed Pension Changes by Jeremy Hunt to invest in UK Start Ups — MoneySavingExpert Forum

Our company fund with L&G has already gone down this route, we were told that was happening and if we did not like it we could run our own choice of where to put the funds. Since I’m not in that industry and would have no clue how to do it, I have of course left them to run it. 

michaels

GibbsRule_No3. said:

https://www.standard.co.uk/business/business-news/chancellor-promises-big-bang-for-pensions-in-bid-to-boost-growth-b1171913.html

Do I worry about my squirrelled nuts or look forward to a higher return on my Pension savings?

The mantra that shareholder returns are bad (especially in infrastructure areas like the water industry) hardly sits with a plan to boost pension savers investment in said infrastructure....

Beddie

They could improve pensions by increasing both employer and employee contribution levels over time.

zagfles

GibbsRule_No3. said:

zagfles said:

Like the pressure put on pension funds to incorporate "ESG" factors into their default funds, invest in "high growth" areas like startups etc, eg see

Proposed Pension Changes by Jeremy Hunt to invest in UK Start Ups — MoneySavingExpert Forum

Our company fund with L&G has already gone down this route, we were told that was happening and if we did not like it we could run our own choice of where to put the funds. Since I’m not in that industry and would have no clue how to do it, I have of course left them to run it. 

That's of course what they're relying on, something like 95% of employees in workplace pensions just stick to the default, so hopefully they'll just mandate default investment towards their pet projects and let people choose alternatives if they want, rather than forcing everyone to invest in line the govt's political objectives. 

Sea_Shell

Looks like we're in for some stormy weather on the markets this week.     Hang on to your hats.  

westv

Sea_Shell said:

Looks like we're in for some stormy weather on the markets this week.     Hang on to your hats.  

Are we? What have I missed?

Sea_Shell

Nikkei down 12% overnight

Bloomberg Futures have Nasdaq down 5%, on top of last weeks falls.  

westv

Oh I see. Any reasons given? 
Edit: Ah, I see it's partly US jobs data.