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    • Former MSE Paloma
    • By Former MSE Paloma 9th Feb 15, 10:04 AM
    • 526Posts
    • 245Thanks
    Former MSE Paloma
    MSE News: More savers to get Pensioner Bonds, as the scheme is extended
    • #1
    • 9th Feb 15, 10:04 AM
    MSE News: More savers to get Pensioner Bonds, as the scheme is extended 9th Feb 15 at 10:04 AM
    Every saver aged 65 and over will have until 15 May 2015 to deposit money into market-leading Pensioner Bonds ...

    Read the full story:

    More savers to get Pensioner Bonds, as the scheme is extended




    Click reply below to discuss. If you havenít already, join the forum to reply. If you arenít sure how it all works, read our New to Forum? Intro Guide.

Page 1
    • TheTracker
    • By TheTracker 9th Feb 15, 10:18 AM
    • 1,213 Posts
    • 1,200 Thanks
    TheTracker
    • #2
    • 9th Feb 15, 10:18 AM
    • #2
    • 9th Feb 15, 10:18 AM
    More tax payers dollars subsidising relatively wealthy pensioners as a pre election bribe.

    Interesting that even the BBC describes the criticism but not MSE. A lobby group in the article says "Borrowing more expensively than the government needs to is effectively a direct subsidy to wealthy pensioners from the working-age population. Pensioner bonds have never been anything other than a gimmick that will benefit pensioners at the expense of the taxpayer". Now MSE doesn't need to explain criticism, just facts, except that the article gives some nice airtime to Gideon to say how wonderful he is being. I count on MSE for facts and balanced views, and either the criticism should be incorporated or George's section removed.
    Last edited by TheTracker; 09-02-2015 at 10:26 AM.
  • Dunnit
    • #3
    • 9th Feb 15, 10:38 AM
    • #3
    • 9th Feb 15, 10:38 AM
    Fact is that he is not called Gideon.

    Rewarding savers appears to be a better strategy than the one forced upon us to reward those in debt because of the banking crisis which has brought lending levels down to record lows.

    Pensioners vote; we have Russell Brand and his publicity through the BBC, to thank for telling youngsters not to.
    • Oblivion
    • By Oblivion 9th Feb 15, 11:04 AM
    • 19,247 Posts
    • 58,472 Thanks
    Oblivion
    • #4
    • 9th Feb 15, 11:04 AM
    • #4
    • 9th Feb 15, 11:04 AM
    Fact is that he is not called Gideon.
    Originally posted by Dunnit

    He was originally named Gideon Oliver Osborne but changed it to George Gideon Oliver Osborne when he was 13 years old.
    ... Dave
    Happily retired and enjoying my 13th year of leisure

    I am cleverly disguised as a responsible adult.

    Bring me sunshine in your smile
    • kidmugsy
    • By kidmugsy 9th Feb 15, 12:08 PM
    • 12,480 Posts
    • 8,850 Thanks
    kidmugsy
    • #5
    • 9th Feb 15, 12:08 PM
    • #5
    • 9th Feb 15, 12:08 PM
    More tax payers dollars subsidising relatively wealthy pensioners as a pre election bribe.
    Originally posted by TheTracker
    £10k is "relatively wealthy"? Come off it.
    • Clifford_Pope
    • By Clifford_Pope 9th Feb 15, 12:10 PM
    • 4,158 Posts
    • 4,903 Thanks
    Clifford_Pope
    • #6
    • 9th Feb 15, 12:10 PM
    • #6
    • 9th Feb 15, 12:10 PM
    Now MSE doesn't need to explain criticism, just facts, .
    Originally posted by TheTracker

    Two more facts:

    1) They are not "pensioner bonds", but over 65 bonds.

    2) The minimum investment per bond is £500. Is it fair to call someone with £500 "rich" ?
  • Dunnit
    • #7
    • 9th Feb 15, 12:24 PM
    • #7
    • 9th Feb 15, 12:24 PM
    He was originally named Gideon Oliver Osborne but changed it to George Gideon Oliver Osborne when he was 13 years old.
    Originally posted by Oblivion
    Exactly he is called George. Don't let facts get in the way.
    • Loughton Monkey
    • By Loughton Monkey 9th Feb 15, 12:42 PM
    • 8,706 Posts
    • 12,428 Thanks
    Loughton Monkey
    • #8
    • 9th Feb 15, 12:42 PM
    • #8
    • 9th Feb 15, 12:42 PM
    £10k is "relatively wealthy"? Come off it.
    Originally posted by kidmugsy
    It would be a very weird society in which people were 'wealthy' at a young age, and became relatively poorer over time.

    As a general rule, therefore, most people are going to become more and more wealthy over their working lives. Anyone reaching the age of 65 not having accumulated >£10K in savings would indeed be poor. But having £10K doesn't make them 'rich' either.

    Getting an extra 1.2% on £10K for a year is worth <£100 after tax. An exta 2% on £10K for 3 years is worth <£500 over 3 years after tax. This is all very welcome to people like me, but quite frankly will not change my life.
    • sparky6840
    • By sparky6840 9th Feb 15, 3:26 PM
    • 8 Posts
    • 3 Thanks
    sparky6840
    • #9
    • 9th Feb 15, 3:26 PM
    • #9
    • 9th Feb 15, 3:26 PM
    "TheTracker"

    Granted thats your opinion, relatively wealthy Pensioners! maybe or not, they have saved or otherwise put together the money, so why not reward them for it, they get little else.
    • TheTracker
    • By TheTracker 9th Feb 15, 4:05 PM
    • 1,213 Posts
    • 1,200 Thanks
    TheTracker
    "TheTracker"

    Granted thats your opinion, relatively wealthy Pensioners! maybe or not, they have saved or otherwise put together the money, so why not reward them for it, they get little else.
    Originally posted by sparky6840
    ONS information here table 2.14
    • Heng Leng
    • By Heng Leng 10th Feb 15, 1:14 AM
    • 4,702 Posts
    • 1,533 Thanks
    Heng Leng
    It's not for the government to 'reward' savers by borrowing from them at inflated prices - it's an OAP bribe, plain and simple.

    Rewarding savers appears to be a better strategy than the one forced upon us to reward those in debt because of the banking crisis which has brought lending levels down to record lows.
    Originally posted by Dunnit
    • patanne
    • By patanne 10th Feb 15, 8:43 AM
    • 1,270 Posts
    • 2,553 Thanks
    patanne
    Of course it is a bribe. They are politicians, it is what they do. They are hoping we are all suffering from dementia and forget that the rates have been rubbish for years and so vote for them. I am prepared to bet that some will on the basis of this.

    Actually I suspect that the real "wealthy pensioners" will have their money in much better earning vehicles than this.
    Last edited by patanne; 10-02-2015 at 8:46 AM.
    • Pincher
    • By Pincher 10th Feb 15, 10:05 AM
    • 6,516 Posts
    • 2,491 Thanks
    Pincher
    The election is in May, what a co-incidence.


    Somebody thought £10billion will last till May, so now they have to stump up a bit more. Anything to prevent disgruntled OAPs voting the wrong way. It would be funny if they shut the door the first Monday after the election. It was a huge success, thank you and see you in another five years.


    As for well off, when you are barely getting by on a pension, how are you suppose to pay for leaking roofs and boiler replacement? The ironic thing is, having £20k disqualifies you from various benefits. The people who scrimp and save to build up a £20k buffer against a rainy day are the real pig in the middle who have it hard. If they really want to take from the state, they can spend it on a new kitchen, so they can qualify for free boilers and claim benefits to the hilt.
    • clivep
    • By clivep 10th Feb 15, 12:27 PM
    • 384 Posts
    • 202 Thanks
    clivep
    The effects of quantitative easing artificially reducing interest rates have been to steal more money from savers at a higher rate than the Cypriot government did!

    Pensioners relying on reasonable interest for their lifetime's savings to provide their income were probably the hardest hit. The pensioner bonds will only cost the government a fraction of what they are getting in from their theft.
    • patanne
    • By patanne 10th Feb 15, 12:54 PM
    • 1,270 Posts
    • 2,553 Thanks
    patanne
    I was wondering why they extended it to the 15th when the election is on the 7th. After all they could have just done it to the 8th!
    • TheTracker
    • By TheTracker 10th Feb 15, 7:10 PM
    • 1,213 Posts
    • 1,200 Thanks
    TheTracker
    I was wondering why they extended it to the 15th when the election is on the 7th. After all they could have just done it to the 8th!
    Originally posted by patanne
    8th to 15th is the week to build a new coalition.
    • le loup
    • By le loup 10th Feb 15, 7:38 PM
    • 3,907 Posts
    • 3,954 Thanks
    le loup
    The effects of quantitative easing artificially reducing interest rates have been to steal more money from savers at a higher rate than the Cypriot government did!

    Pensioners relying on reasonable interest for their lifetime's savings to provide their income were probably the hardest hit. The pensioner bonds will only cost the government a fraction of what they are getting in from their theft.
    Originally posted by clivep

    Doesn't the Internet bring out the weirdoes?
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