Pensioners to be insured against stock market falls
"Workers will be able to protect their pensions by insuring savings against stock market falls under plans being drawn up by ministers.
Steve Webb, the pensions minister, said he wanted to give people “certainty” that they would get a guaranteed income when they retired.
Millions of savers have seen the value of their workplace pensions fall because of stock market turmoil and the Bank of England’s policy of printing money to stimulate the economy.
Ministers fear that unless they can guarantee that pensioners’ money is safe, they will be deterred from saving. The average Briton saves almost £300 a month in a workplace pension, comprising both personal and employer contributions as well as tax relief from the Government.
Experts propose that workers pay a levy on contributions of 0.75 per cent, about £30 a year on average.
The policy, provided by private insurance companies, would guarantee savers that their pension pot on retirement is worth at least the combined value of their contributions, their employers’ contributions and the tax relief they have received over their working lives. "
Source: Pensioners to be insured against stock market falls - Telegraph
Who voted for these cretins?
Oh wait I did
So there you have it - a guarantee that stock market falls won't affect you for £30 a year on average.
If it was really true then the Govt itself could have bought this insurance for £1 bln pear year covering 30 mln people
"Workers will be able to protect their pensions by insuring savings against stock market falls under plans being drawn up by ministers.
Steve Webb, the pensions minister, said he wanted to give people “certainty” that they would get a guaranteed income when they retired.
Millions of savers have seen the value of their workplace pensions fall because of stock market turmoil and the Bank of England’s policy of printing money to stimulate the economy.
Ministers fear that unless they can guarantee that pensioners’ money is safe, they will be deterred from saving. The average Briton saves almost £300 a month in a workplace pension, comprising both personal and employer contributions as well as tax relief from the Government.
Experts propose that workers pay a levy on contributions of 0.75 per cent, about £30 a year on average.
The policy, provided by private insurance companies, would guarantee savers that their pension pot on retirement is worth at least the combined value of their contributions, their employers’ contributions and the tax relief they have received over their working lives. "
Source: Pensioners to be insured against stock market falls - Telegraph
Who voted for these cretins?
Oh wait I did
So there you have it - a guarantee that stock market falls won't affect you for £30 a year on average.
If it was really true then the Govt itself could have bought this insurance for £1 bln pear year covering 30 mln people
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