Diving stock market wipes out pension surplus

[DimPrawn]

http://www.guardian.co.uk/money/2008....marketturmoil

The findings are in line with figures from Aon Consulting this month, which showed three-quarters of the UK's 200 largest final-salary pension schemes in deficit, after a third plunged into the red during June. The group said the schemes saw their funding position deteriorate from a collective £6bn surplus in May to a shortfall of £30bn.


I'm sure the public sector parasites will be okay though.

[BlasterBates]

Have you noticed that when stock markets plunge that the end value of your pension goes down by about the same amount, but after the recovery it doesn't go up. Confirms the view that the losses go on the pension account and the profits are booked to the traders.

[Dow Jones]

Those 'calculations' are based on the old assumption that pension schemes invest on the stock market the majority (around 70%) of their funds. This is no longer the case, most now go for bonds and comm. property (this may possibly come back to haunt them later), but certainly those figures are not accurate IMO. Scaremongery of the highest level, well done 'The Guardian' aka DP (I hope you don't waste your money to buy it)

[expat]

I'm sure the public sector parasites will be okay though.

I could say the same as I say to people who say that contractors get paid too much: if you think it's so great, nothing is stopping you doing it too.

[BlasterBates]

hmmm wonder what Gordon is going to do

[moorfield]

Best time to be lumping money into a pension is now. No really, it is.

[oracleslave]

hmmm wonder what Gordon is going to do

Blub like a baby and ask for his mum?

Not just a recession a M&S recession

[Chantho]

hmmm wonder what Gordon is going to do

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The government cannot afford more vote-pleasing handouts.
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Don't bet on it

[meridian]

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The government cannot afford more vote-pleasing handouts.
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taxpayer

[HairyArsedBloke]

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The government cannot afford more vote-pleasing handouts.
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Don't bet on it

He is going to turn on the printing presses and make loads of money to pay those loyal Labour voting public sector workers. Maybe he has done so already and kept it quiet by out sourcing to De La Rue. I’ve just checked their share price. They are doing very well; up 11% in the last 12 months while the FTSE250 is down 33% in the same period.