I opted out of serps - helps required

[Deleted User]

woolly_wombat said:

Deleted_User said:

In summary, someone opted to take risk for possibility of higher return and then made an investment error.  Totally Thatcher’s fault.

Or more accurately, as a leading UK pensions expert put it:

'The long-awaited Parliamentary Ombudsman report into the Equitable Life collapse was a damning indictment of our financial regulators and put blame squarely on the Financial Services Authority (FSA), which was acting on behalf of the Treasury, on the Government Actuary’s Department (GAD) and on the Department for Trade and Industry (DTI). She has recommended that the Government should apologise to the victims for its regulatory failures and set up a fund to pay compensation to some of the victims. Her report highlights a catalogue of failures at the highest level by regulators and their advisers who should have known far better. , this will be yet another example of our so-called “light touch” regulatory system being more like “hands off” or “eyes shut”.'

https://www.rosaltmann.com/ombudsman_equitablelife_victims/

You seem to be mixing different issues:

1. You claimed “ OH was most definitely NOT better off opting out of SERPs”. This appears to be false regardless of EL fiasco. 

2. You claimed the individual’s pension issues are the fault of Margaret Thatcher. Also false.
3. You are now referring to regulatory failures relating to the oversight of EL’s mismanagement. Thats true. Ultimately the holders of with profits funds did well if they had patience and ignored the headlines

zagfles

Deleted_User said:

woolly_wombat said:

Deleted_User said:

In summary, someone opted to take risk for possibility of higher return and then made an investment error.  Totally Thatcher’s fault.

Or more accurately, as a leading UK pensions expert put it:

'The long-awaited Parliamentary Ombudsman report into the Equitable Life collapse was a damning indictment of our financial regulators and put blame squarely on the Financial Services Authority (FSA), which was acting on behalf of the Treasury, on the Government Actuary’s Department (GAD) and on the Department for Trade and Industry (DTI). She has recommended that the Government should apologise to the victims for its regulatory failures and set up a fund to pay compensation to some of the victims. Her report highlights a catalogue of failures at the highest level by regulators and their advisers who should have known far better. , this will be yet another example of our so-called “light touch” regulatory system being more like “hands off” or “eyes shut”.'

https://www.rosaltmann.com/ombudsman_equitablelife_victims/

You seem to be mixing different issues:

1. You claimed “ OH was most definitely NOT better off opting out of SERPs”. This appears to be false regardless of EL fiasco. 

2. You claimed the individual’s pension issues are the fault of Margaret Thatcher. Also false.
3. You are now referring to regulatory failures relating to the oversight of EL’s mismanagement. Thats true. Ultimately the holders of with profits funds did well if they had patience and ignored the headlines

More like Gordon Brown who was chancellor/PM since 1997, and who went round lecturing the EU about how over-regulated banks were before the financial crisis!!