Archive for the ‘pensions’ Category
Pensions are old
I see here they mention that half of the 39% of the participants in the survey, saying that they did not have a pension in place are under 18 years old.
While I think it might be a good idea to have something small in place, it is not surprising to see under 18’s without a pension. After all, which teenager is going to miss their big night out with friends to put £40 into a pension fund, that after inflation and a few years, will be worth next to nothing!
In a survey of 2,000 adults, Fairinvestment.co.uk has found that 39 per cent do not have a pension plan in place, and 20 per cent of those with a pension have had to reduce their contributions or stop paying into it since the credit crunch began
Nearly half of the 39 per cent surveyed who admitted to not having a pension in place were under the age of 18.
Retirement savers need stability
Retirement savers are definitely not being shown enough respect from the banks or the Government.
The pensions industry needs to step up their game to ensure that savers are being offered the best deals.
Retirement savers need stability
Following the Department of Work and Pensions (DWP) research into the benefits of long-term saving, MetLife is urging the government and pensions industry to do more to tackle current levels of uncertainty among retirement savers.
The report from the DWP, Saving for Retirement: Implications of Pensions’ Reforms on Financial Incentives to Save for Retirement, shows that, given reasonable assumptions about the future, most people can expect to be better off in retirement by saving, with the majority getting back more than double the amount they save.
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?
Pensions in awkward territory
Not good times for the Government or UK pension holders then, who seem to both be in a state of stale mate, with the banks calling all the shots as usual, even though they are funded on a large scale by the tax payers in the first place.
They may rank alongside other unsecured creditors, such as the banks, but put a company into administration and they often become a different beast with the largest seat at the table.
In the build up to a meltdown, though – as the banks start pulling the strings – they are curiously toothless.
Not too bad for pensions
Its good to see that in some places in the UK economy there is some slightly positive activity going on, although its not entirely positive.
Lets face it though, compared to the rest of the worldwide markets, to pull back the amount they have over 12 months can only be a good thing.
Despite a tumultuous 12 months, Britain’s biggest schemes are sitting on a £3bn surplus, having started the year with a £2bn deficit.
Aon Consulting, which has calculated the pension scheme funding, said the swing back into the black will be significant as half of UK companies complete their accounts at December 31.
Pensioners are hit hard
The world seems to just be one big scandal at the moment and the pensioners are loosing out big time, especially with the recent interest rate cuts which will dramatically affect their long term capital.
http://www.wsws.org/articles/2008/dec2008/pens-d15.shtml
A little discussed aspect of the global financial crisis is the devastating impact it is having on pensions. This is particularly acute in Britain. State provision is poor and successive governments have forced workers to rely on occupational pensions, on which half of all British workers depend, private pensions and annuities, and the value of their homes to finance their retirement.
In the last year, the London stock market has fallen by nearly 40 percent and deficits in UK occupational pensions in the top 100 corporations have leapt from £40 billion a year ago to more than £122 billion in October of this year if more realistic estimates of their liabilities are used.