Archive for January, 2009
Prepare for a better return on your pension
Again, great news for pensioners investing in these funds, as they are seeing their cash slowly grow rather than slowly decline.
Prepare for a better return on your pension
Pension plans across the U.K. face an “extraordinarily bruising year” and need to prepare for several challenges, according to a report by global consulting and investment services firm Mercer.
The average U.K. pension fund lost 9.8 percent in returns last year, the first time that the country’s pension funds recorded negative yearly returns since a decade ago, according to BNY Mellon Asset Servicing. Long-term performance showed U.K. pension funds returned 6.6 percent over five years and 4.2 percent over 10 year, said the study released late Thursday.
Pensioners win!
Finally, something is been giving back to the pensioners who are being made to struggle so much lately!
A lot of pensioners have relyed on the value of their property to keep them going through their later life, which is simply not an option any more.
Yesterday the Government finally agreed to give compensation to some of the hundreds of thousands of people who saw up to half of the value of their pension pots vanish after Equitable was forced to close to new business in 2000.
But while Yvette Cooper, Chief Secretary to the Treasury, apologised for “injustices for policyholders” caused by government failures to properly regulate the society, a legitimate question to ask is: what took the Government so long?