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Creating money won't hurt

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    Creating money won't hurt

    Unless you have a pension.

    http://news.bbc.co.uk/1/hi/business/7932269.stm

    Annuities for people retiring in the UK will plunge in value after the injection of £75bn into the economy by the Bank of England, experts say.

    Insurance companies pay out annuities - a regular income from a retiree's pension pot - based on the yields made from government bonds or gilts.

    These yields have dipped dramatically after the Bank said on Thursday it was creating £75bn to buy these gilts.

    A £100,000 pension pot can now fetch an annuity of up to £6,488 a year.

    #2
    I don't have a pension, so I'm sorted !
    Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

    C.S. Lewis

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      #3

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        #4
        You know, it must be really easy to be an ‘expert’. Whatever anyone suggests, you just phone the media and say ‘it won’t work you know’.
        And what exactly is wrong with an "ad hominem" argument? Dodgy Agent, 16-5-2014

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          #5
          I'm an expert in IT. I tell everyone "that won't work" and more often than not, I'm right!

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            #6
            As well as invading france and assassinating all our snr bankers to sort out our banking, unemployment and moral problems - we should add a policy of immediately culling everyone over the age of 60 to sort out the current and impending pensions crisis.

            Man, I'm good at this. I should run for office
            Is God willing to prevent evil, but not able? Then he is not omnipotent. Is he able, but not willing? Then he is malevolent. Is he both able and willing? Then whence cometh evil? Is he neither able nor willing? Then why call him God? - Epicurus

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              #7
              Fools !

              I am so glad that I dont have a pension - for I shall never retire.

              Never trusted Pensions - glad Ive never paid into one.

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                #8
                Originally posted by AlfredJPruffock View Post
                Fools !

                I am so glad that I dont have a pension - for I shall never retire.

                Never trusted Pensions - glad Ive never paid into one.
                Have to say I agree. Started one (read mis-sold one) when I was 17, then cancelled it a year later when I realised what a crap arrangement a pension plan actually is.
                Sval-Baard Consulting Ltd - we're not satisfied until you're not satisfied.

                Nothing says "you're a loser" more than owning a motivational signature about being a winner.

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                  #9
                  I've never pilled into pensions

                  1/ you can't access the money until you are old
                  2/ you might not make it
                  3/ it could turn out to be worthless anyway

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                    #10
                    When you die the (pension) pot vanishes.

                    If you lived off a capital sum (interest), shares (dividends) and property (rents), at least you can pass on this wealth to children/grand children or give it to charity when you die.

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