Company Pensions, another blow? Options

[duxk]

Many workers may discover that they cannot afford to retire, a firm of actuaries has warned.

Its report says UK employers will save £73bn as a result of some adopting the consumer prices index (CPI) rather than the retail prices index (RPI) to protect pensions from inflation

http://www.bbc.co.uk/news/business-14370452

Thanks Gideon

[stulancs]

That's terrible, but Gordon Brown cost pensions £100bn, despite being warned, so best to put the bulk of the blame where it's due.

This post has been edited by stulancs: Aug 2 2011, 19:43

[shaxi]

bitter lives? what more will do then ,delay of retire

[Parsifal]

Many workers may discover that they cannot afford to retire, a firm of actuaries has warned.

That's been the trend here in the US for a few decades now as private employers discontinue defined benefit pensions for employees and replace them with 401k accounts which are the equivalent of employee pre-tax savings accounts. And it gets worse every year.

[duxk]

That's terrible, but Gordon Brown cost pensions £100bn, despite being warned, so best to put the bulk of the blame where it's due.

100bn 73bn.... neither very helpful so we'll blame gordon for 57.8% of the problem and gideon for 43.2% of it if that makes you happy?

Oh and we'll ignore all the pension holidays the companies took durning the good times shall we?

[Humpty Dumpty]

That's terrible, but Gordon Brown cost pensions £100bn, despite being warned, so best to put the bulk of the blame where it's due.

100bn 73bn.... neither very helpful so we'll blame gordon for 57.8% of the problem and gideon for 43.2% of it if that makes you happy?

Oh and we'll ignore all the pension holidays the companies took durning the good times shall we?

I'm with you on this Duxk.

We will also forget that the actuarial industry for years continued to ignore the increasing life expectancy of males and also predicted higher growth than was achieved in the stock and bond markets.

Whilst I have heard Boris Johnson and a number of right-wing nutters calling for the reduction in the 50% top rate of tax, I haven't heard them, or indeed the main stream Conservative Party call for the restoration of the tax concession that Brown removed. Nor will it be given back when just before the next election we are told things are going to improve and the basic rate of tax is reduced as a electorial bribe.

The only thing that would make me vote Conservative is when the like of Sir Philip Green's family can't avoid paying £288,000,000, Lord Ashcroft, god knows how much and even Mr Osborne family tax scheme that has used the Channel Islands to avoid £1,500,0000, and of course News International has an effective rate of corporation tax of 7%....................no we are definitely not all in this together.