Couldnt agree more. I go to Le mans with a bunch of IT professionals and consultants. This year 5 from 18 are working on NHS funded projects. The amounts being spent are simply gob smacking.

 

Suresh,

My point was that pensions had fallen through the floor as far as their value to the contributors were concerned, and I was hoping you could enlighten us as to why they did and could it possibly be due to Flash's actions.

Nothing to do with what the shadow chancellor might have said.

Les

 

Les, Like I said if you could give me a source for that claim that shows when 'values fell through the floor' that would be helpful. I will then do my best to explain why.

Suresh

 

Thats a typical NL excuse Suresh, just ask all those people who have found their pensions reduced to peanuts after Flash's raid of the pensions from private firms..

Les

 

So you can't actually reference any sources then? Come on Les I was expecting better from you!

 

The real point Suresh is that you cannot answer the question which is plain enough!

Les

 

Erm... no it isn't! Les, you quoted a soundbite about falling pension values with respect to contributions and seem to be unable to find evidence to back it up.

Maybe you should stick to your 'real gentlemen **** on people' thread?

 

Just a small comment to Lum at post 27......There are no "hypothecated " taxes in the UK and the NI just goes into one large pot so it is therefore a "tax"....Gordon Brown stopped the threshold on NI a couple of years back to fund the NHS.... LOL

Midlife.....

 

The fact is Suresh that many of my friends have found that the pensions that they contributed to over the years have either disappeared or been drastically reduced from the forecast value at the start. My question to you was why and could it be associated with Flash's actions? That must be clear enough unless you just feel you have to keep avoiding it. These actions were reported in the National Press and have not been denied by NL.

I have not started any thread such as you describe.

Les

 

What sort of evidence are you after? If you have your own pension then I'd be amazed if you have a problem finding some evidence yourself.

I have various letters from my company pension provider expaining how big my shortfall was going to be after the raid, and other letters telling me how much extra i need to pay in for the rest of my life to get the same pension I had before it was raided.

I can also see a difference on my before/after payslips, so I know exactly how badly I was reamed.

It still makes me think the only people who aren't bothered about this are the ones who made no provision anyway, so were unaffected whatever Gordo decided to do. Yet again NL proved the only people they want to help are the scrounging cvnts of our society, whereas the people who work to try and have a good life/future get fcuked over.

 

Guys, I'm after a reliable link to a source that states the facts and am not really interested in your anecdotal evidence. There is a good reason why you can't find a credible link. Can you think what that might be?
Does FRS17 mean anything to you for example?
http://www.economist.com/displaystor...ory_id=5436947

I myself have three occupational and three state pensions across 3 different countries and will be "more than adequately" provided for in my retirement. However, the Swiss government recently upped the retirement age to 68, starting 2012. Must be Gordon Brown stealing from me there too then...

 

I'ts not the only problem with pensions, but it is a significant and contributing factor to diminishing returns.

Corporate pension scheme reviews are part of my job.

The main problem for many is poorly forcast investment returns. Just the same as the endowment shortfalls.

Add this to people living longer and the gap grows.

Wiping billions from the fund values most certainly doesn't help however and cannot be dismissed.

For many schemes, New Labour's actions have been the difference between borderline solvency and being underfunded.

That, gentlemen, is all fact. Not conjecture, not taken from third party publications and most certainly not opinion.



Maxwell died for less. Apparently, it was an "accident"

 

Did Princess Di raid pension funds too?

 

Okay. Did the stock market permanently fall by 'billions' when Gordy's plan was revealed to the masses? The DVM would demand that it must have done. The hit would have been absorbed in the pension fund values back then. I remember the bank I was working at dropped 80mil or so in equity derivatives because of the new law.

Did that happen to the stock market at the time? What about investment funds did they fall dramatically too? I have no recollection or data to support it either way. I expect the Asian crisis at the time dwarfed all of these minor effects.