BREAKING: Gorbon Brown robs pension pots! BREAKING: Gorbon Brown robs pension pots! - Page 2
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    Quote Originally Posted by Old Greg View Post
    I'm glad you have a fantasy narrative to make you feel better about your poor choices.

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  3. #13

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    Quote Originally Posted by ladymuck View Post
    So...

    I know less than sweet FA about pensions. I have one, someone calls me every now and then and recommends a rebalance of investments, the value is going up by more than the contributions so I guess it's doing ok.

    I can understand that HMT would decide which inflation measure the state pension should be linked to, but I didn't realise they decided this for all private pensions too. Or have I completely missed the point here? Surely it's up to the pension company to strike a balance between profit and creating a product people want to buy?
    From what I can gather it would only affect DB pensions that are also RPI linked. I think they would be rare to find outside of the public sector today because they're not easily sustainable without some sort of money printer.

    Your private pension is likely to be a DC pension so not affected.

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    Quote Originally Posted by Old Greg View Post
    Which is not what you posted.

    That be true Jezzy was the leader of a Labour party that was made unelectable for a decade, his actions made Michael Foot look like a winner. His meetings with Hamas & IRA while they were both still murdering the innocent are facts but suggesting he was asking them what to do is obviously a bit of a stretch.
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    Quote Originally Posted by CheeseSlice View Post
    From what I can gather it would only affect DB pensions that are also RPI linked. I think they would be rare to find outside of the public sector today because they're not easily sustainable without some sort of money printer.

    Your private pension is likely to be a DC pension so not affected.
    Any DB scheme whose rules mention 'inflation' instead of specifically 'RPI' would already have adopted CPI to save money about 10 years ago following a rule change. If a scheme's rules specify RPI then this cannot be changed retrospectively for past pension already built up but the rules could be changed to use CPI going forward.

    This appears to be a change as to how coupons (interest) on government index linked bonds are priced. This will affect anybody holding these assets including within a DC pension. The main link to pensions though is that index linked bonds are often held by DB pensions to help hedge inflation risk. So the benefits the policyholder gets won't change but the bonds will become less valuable so will increase pension scheme deficits.

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  7. #17

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    Quote Originally Posted by AtW View Post
    Millions of savers could see £73,000 wiped off the value of their gold-plated “final salary” pension if the Government presses ahead tomorrow with a change in the way inflation is calculated....
    How many IT contractors does this affect? I would say approx zero.
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    Quote Originally Posted by _V_ View Post
    How many IT contractors does this affect? I would say approx zero.
    Whose pensions do you think Rishi will rob next?

  9. #19

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    Quote Originally Posted by AtW View Post
    Whose pensions do you think Rishi will rob next?
    People are so stuck up on pensions when if we were to look at previous 5y the prices have seen a rampant increase, 30% probably in the weekly shopping basket, higher rents while salaries have not increased for probably more than 10y.
    This is the real rubbery: INFLATION.

  10. #20

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    Quote Originally Posted by _V_ View Post
    How many IT contractors does this affect? I would say approx zero.
    Contractors didn't all start out as contractors, so some will have old final salary pensions if they are old enough.
    "You’re just a bad memory who doesn’t know when to go away" JR

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