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>> No. 3840 Anonymous
19th September 2013
Thursday 10:03 pm
3840 Pensions
The OFT have come out and said that many old (i.e. set up before 2001) pension schemes have high charges and offer savers poor value for money. They've also suggested a cap for auto-enrolment schemes, but it's going to be an almost meaningless gesture as you'd be very hard pressed to find a provider offering auto-enrolment terms with annual management charges greater than 1% anyway.


The pension scheme I'm in at work (contribution: 5% employer, 5% employee gross) has management charges of 0.6%, which I'm alright with as it's less than I'd get if I was investing in collectives through an ISA.

However, I've put the charges and contribution details into Invidion's pension calculator for an idea of what I'd get when I'm 65, 40 years from now, and if my salary increases in line with National Average Earnings and I took the 25% tax-free lump sum I'd be looking at a pension in today's terms of 27.5% of my current salary. If I wanted a pension that would be about two-thirds of what I'm earning now then I'll need to contribute, assuming the employer contribution stays at 5%, 15% gross (12% net) of my salary every year for the next four decades. This does depend on what annuity rates will be like then and I'd also be getting the State Pension, as long as they haven't upped the age you receive it to 80 by then.

If it wasn't for the tax relief and my employer matching my contributions then I doubt I'd bother and I'd look into other ways to support myself while I'm in retirement. What about you lads? What are your thoughts on pensions? In my opinion to have any form of decent retirement income you're at the mercy of your employer offering a good pension scheme.
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>> No. 7745 Anonymous
3rd October 2019
Thursday 5:55 pm
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I fail to see how some middle class types being put out by having to work an extra couple of years in very comfortable conditions for grand renumeration invalidates the millions of working class women who will have to continue waking up at silly o'clock and travelling by bus in harsh conditions for a 6 hour shift at Asda at ever increasing ages.

If you're willing to elaborate on why I'm missing the point please do, but before we continue allow me to state my understanding of the issue. As I see it clawing back rights from the government is a step by step process. This case while in isolation is self serving to a pair of ditzy middle class birds, but it sets the precedent that maybe the increase in pension age was wrong and allows further action to be taken by other people, with each case widening the scope of the discussion and keeping the issue in the public discussion. With this failure any further action regarding pension age will be more difficult and less likely to be undertaken and therefore less talked about in the pubs and on the terraces. I'm saddened not because some individuals have failed to get loadsa dish, but because the argument against working until we die has been weakened by this decision.
>> No. 7746 Anonymous
3rd October 2019
Thursday 6:28 pm
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Old people have it too good, with or without a couple of extra years at work. Fuck em.
>> No. 7747 Anonymous
3rd October 2019
Thursday 6:34 pm
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The Institute for Fiscal Studies found no evidence that accelerating the female State Pension age increase led to a material rise in deprivation.

The WASPI women want the female State Pension age back to 60. It would not be right at all for men to receive their State Pension at 66 and women at 60, especially considering women live around 5 years more than men so they'd generally be receiving it for longer under the current system.
>> No. 7748 Anonymous
3rd October 2019
Thursday 6:42 pm
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Of course there's no material rise in deprivation. The money is not the issue, the issue is working up to the end of your 60s for no material rise in wealth while still creaking your old bones on to a leaky bus at 6AM. The monetary aspect is deliberately misleading.

You're right, it would not be right for women to have a lower pension age than men, so if we support intersectional opposition to the pension age via females then we can use the resulting court secured discrepancy to lower the pension age for men. The net result is a society which does not grind the bones of pensioners for bread.
>> No. 7749 Anonymous
3rd October 2019
Thursday 7:09 pm
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Increases in life expectancy mean that the amount of time people spend in receipt of their State Pension has increased massively. If you look at our population pyramid then you'll see it is going to reach unsustainably high levels.

People don't want to fix this with immigration. You're either putting a greater tax burden on a shrinking working population to support a growing retiree population or you have to increase the pension age.
>> No. 7750 Anonymous
3rd October 2019
Thursday 7:23 pm
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Taper off all life extension care beyond the age of 75 but keep quality of life care in tact. The money saved on life extension care will fund the apparent gap between taxes and pensions.

The tapering off is ill defined but nobody is paying me to wade through the bollocks like emergency surgery on a heart attack vs long term regular care appointments for heart attack prevention. Let's assume we have a policy dossier in place that neatly addresses all concerns and rate its sellability to the public as zero.

It is not feasible to ask people pushing 70 to continue entry level jobs. You could argue it's their own fault for being in an entry level job at 70, my counter point would be it's irrelevant, we can't make such physical demands of them. It will create unrest and increase the cost of the NHS under the present system as bone, muscle and mental problems increase in the pension age population required to work because they're no longer pension age.

Oh hey someone mentioned immigration. Oh, it's going, it's going, it's gone. Not touching that one with a barge pole. Oh shit I said pole.
>> No. 7751 Anonymous
3rd October 2019
Thursday 8:22 pm
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>The WASPI women want the female State Pension age back to 60.
Why are you lying?
>> No. 7752 Anonymous
3rd October 2019
Thursday 8:52 pm
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What was the reasoning behind women getting their pensions earlier in the first place?

Also I think you're barking up the wrong tree, intersectuonistlad. Pensions are obsolete anyway, uiversal basic income is the way forward. You know as well as I do that a victory for women's pension age would never in a million years help budge it for men.
>> No. 7753 Anonymous
3rd October 2019
Thursday 9:03 pm
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We're at least 2 generations away from the ideal UBI implementation, maybe as many as 10 generations. Under the ideal UBI system I would agree, it would provide comfort for everyone in receipt of it. Under the UBI we're likely to see in our lifetimes it's more of an anti-poverty mechanism that will replace the dole and will translate in to roughly as many loaves of bread per week as the dole currently provides. The UBI you and I want to see can't come in to effect until long after we're dead for various logistical and numerical reasons.

Given that our lives will see an anti-poverty UBI rather than a true UBI we have to assume that pensions will be a thing until after we're dead, and we need to come up with a solution for the transition period between APUBI and UBI. We can't expect pensioners to live on APUBI, we will see a pension element of UBI in the same vein as elements of Universal Credit today.

I want the age that working class pensioners have to work to in order to receive their pension or their pension element of UBI lower than it is now. If we can only achieve that for disabled gay black Welsh women then I don't care, it's a victory for the working classes. It's not enough and we can't stop there, but it's a starting point.
>> No. 7754 Anonymous
3rd October 2019
Thursday 9:05 pm
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>What was the reasoning behind women getting their pensions earlier in the first place?
They need to be able to stay home to look after their adult children.
>> No. 7755 Anonymous
3rd October 2019
Thursday 9:10 pm
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You're the government. You want to raise the pension age for everyone. This will piss off everyone in the 50-65 age bracket.

Do you:
a) do it to men and women simultaneously pissing off x amount of people
b) do it to men first pissing off only the men, wait for that to die down then do it to women, pissing off half the amount of people each time (because people are fucking stupid)
>> No. 7756 Anonymous
3rd October 2019
Thursday 9:16 pm
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The remedy demanded in this particular court case was a return to 60 for at least the women affected.

>What was the reasoning behind women getting their pensions earlier in the first place?
Sexist assumptions, basically.

But how awful it must have been for these women to have had only 25 years' notice that their pension age would be changing. I was a child at the time and even I knew it was happening.
>> No. 7757 Anonymous
3rd October 2019
Thursday 9:21 pm
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>Oi m8 I'm going to break your fucking spine in 25 years.
>What the fuck he broke my spine I can't walk.
>Shut up mate you had 25 years to plan for it.
>> No. 7758 Anonymous
3rd October 2019
Thursday 9:25 pm
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WASPI explicitly predicate their campaign on women not having had notice.
>> No. 7759 Anonymous
3rd October 2019
Thursday 9:32 pm
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Sometimes people choose to play the game rather than telling the truth. It's both mad and maddening I know but this individual campaign does not invalidate the overall concern.

WASPI chose to play for selfish reasons and used selfish excuses as it was the best way of achieving their selfish ends. I'm not here to campaign for WASPI, I'm here to say that the pension age was already pushing the limits of acceptability before this change. This discussion for me is not about WASPI at all. I don't know anything about them, nor do I care about them.

I must ask, do you genuinely believe that the stated reason for something on a political level is usually or even ever the real reason? At the risk of derailment which I implore you and others not to allow my comment to facilitate, do you believe BoJo's recent claim that the prorogation of parliament was purely housekeeping for the purposes of setting the agenda of parliament? I hope this isn't a divisive issue, I think it's clear that it was a device he was using whichever side of the fence you're on and I'm not commenting on it positively or negatively, I'm simply using it to illustrate the point that people lie to further their own agendas.
>> No. 7760 Anonymous
3rd October 2019
Thursday 9:37 pm
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Yes, I too would have preferred the age for men to have been reduced to 60, but it was done in 1995 by a Tory government so what did you expect?
>> No. 7761 Anonymous
3rd October 2019
Thursday 9:44 pm
7761 spacer

On .gs? A hypothetical discussion in which a group of anonymous participants discussed the solutions to a topical problem with some spanners thrown in to the works by a few spanners, culminating in a cunt off about some minor technical miscommunication 100 posts prior.
>> No. 7762 Anonymous
3rd October 2019
Thursday 9:47 pm
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It's more likely than you think.
>> No. 7763 Anonymous
3rd October 2019
Thursday 9:47 pm
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Let's just skip to the part where we discuss which WASPI is the filthiest in bed.
>> No. 7764 Anonymous
3rd October 2019
Thursday 9:52 pm
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My mother is one of the women affected. I've given her notice that I intend to ask her opinion on the matter at Christmas 2021, just to make sure she knows in good time.
>> No. 7765 Anonymous
3rd October 2019
Thursday 10:01 pm
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Does she let you piss up her arse or what mate?
>> No. 7766 Anonymous
3rd October 2019
Thursday 10:37 pm
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I'm sorry, but this post is horrendously bad. It's not even bad-bad it's sad-bad. Truly woeful.
>> No. 7767 Anonymous
3rd October 2019
Thursday 10:44 pm
7767 spacer

I'm putting your mum down as a maybe on the are pissing thing. Let me know if anything changes.
>> No. 7771 Anonymous
4th October 2019
Friday 8:38 am
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That was his cousin.
>> No. 7772 Anonymous
4th October 2019
Friday 8:52 am
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Wasn't even the same poster, but okay.
>> No. 7799 Anonymous
17th October 2019
Thursday 7:17 am
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Save in your pension or it's Tesco own brand orange juice and furniture from Wilko for you!
>> No. 7800 Anonymous
17th October 2019
Thursday 11:08 am
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I earn more than any of these examples and I still don't buy fucking Tropicana, and I have an Argos desk.

I plan to spend my entire retirement in VR porn though, strapped into one of those machines what sucks your knob.
>> No. 7801 Anonymous
17th October 2019
Thursday 11:16 am
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>one of those machines what sucks your knob.
That's no way to talk about your mum, m9.
>> No. 7802 Anonymous
17th October 2019
Thursday 12:28 pm
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I was thinking about this the other day. If I was forced into a retirement home then I don't think I'd give a shit as long as I could play Football Manager and a few other games in my room all day.
>> No. 7803 Anonymous
17th October 2019
Thursday 12:34 pm
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If anything this says less about the state of pensions when you're a retiree, and more about the crippling burden of rent/mortgage payments while you're young.

I'd be comfortably living it up in the middle column if I didn't give a third of my money to a pair of pensioners up the road every month.

If I killed them and then hunted down all their existing descendants, would I get the house?
>> No. 7804 Anonymous
17th October 2019
Thursday 12:49 pm
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>If I killed them and then hunted down all their existing descendants, would I get the house?
I don't think it works that way but it absolutely should.
>> No. 7805 Anonymous
17th October 2019
Thursday 1:00 pm
7805 spacer
>Heinze baked beans
Across every column
>Nissan Qashquai (right)
because people didn't know they wanted it

Where's the section on how much you can spend on heating per week, or the quality of societies around your affordable rent area?

I woke up pretty bitter, this morning.
>> No. 7806 Anonymous
17th October 2019
Thursday 1:46 pm
7806 spacer
Heating will be banned by the time we get old.
I'm hoping the VR wankmachine involves a tub of warmed fluid to s(h)it in, and we'll just get hosed off once a month, or if visitors come.
>> No. 7807 Anonymous
17th October 2019
Thursday 1:56 pm
7807 spacer
>Heating will be banned by the time we get old.
We won't be needing it by the time we get old.
>> No. 7808 Anonymous
17th October 2019
Thursday 4:32 pm
7808 spacer
Shouldn't you be getting aggressively yanked off a train by angry commuters?
>> No. 7809 Anonymous
17th October 2019
Thursday 8:28 pm
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Is THAT what you're doing with your VR wankmachine? That's sick that is.
>> No. 7810 Anonymous
17th October 2019
Thursday 8:47 pm
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Well I don't know about you lot but I'm winning the Euromillions tomorrow anyway, so it won't matter.
>> No. 7811 Anonymous
17th October 2019
Thursday 9:59 pm
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I would really like some money.
>> No. 7812 Anonymous
17th October 2019
Thursday 11:25 pm
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If I win, I'll split it with both you lads.
>> No. 7813 Anonymous
18th October 2019
Friday 12:08 am
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I knew my quality posts would pay off in the end.
>> No. 7833 Anonymous
19th February 2020
Wednesday 7:41 am
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Rejoice, lads. The Vanguard SIPP is finally here.

>> No. 7834 Anonymous
23rd February 2020
Sunday 2:58 pm
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I am moving my pensions from a managed fund with Royal London that had 5% in UK Gilts and had underperformed the benchmark for 5 years (with a 1% expense ratio) into a Vanguard all-world equities index fund (0.37% expense ratio).
>> No. 7835 Anonymous
23rd February 2020
Sunday 4:27 pm
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Might my local government pension be better than this?
>> No. 7836 Anonymous
23rd February 2020
Sunday 5:02 pm
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I've had a quick look but I think I might be better keeping with Aviva for the time being.

>> No. 7874 Anonymous
19th May 2020
Tuesday 8:29 pm
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The IFS have suggested that too many low earners might be contributing to a pension scheme, worried that they shouldn't be reducing their earnings.


Excuse me while I go and bang my head against a brick wall. I would upload the chart from the link but posting images on /£$€¥/ appears to be fucked at the moment.
>> No. 7962 Anonymous
6th August 2020
Thursday 5:07 pm
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I've got about one-fifth of my pension in a gold fund[1] that has gone up by almost 60% in six months thanks to coronavirus. Do I cash out or not? The only thing I can think of switching into at the minute is an infrastructure fund[2] or perhaps pumping more into UK equities because it hasn't bounced back the way the rest of the world as a whole has.

[1] https://www.trustnet.com/factsheets/p/ddp1/aviva-investec-global-gold-pn-s6

[2] https://www.trustnet.com/factsheets/p/bem3/aviva-first-state-global-listed-infrastructure-pn-s6
>> No. 7963 Anonymous
6th August 2020
Thursday 5:10 pm
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Cash out your initial investment +any interest you'd have earned if it had been in a bank.
>> No. 7964 Anonymous
6th August 2020
Thursday 5:36 pm
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The issue is where to put it instead. I think, on reflection, the best course of action might be to rebalance so I'm taking the gain out but leaving the amounts paid in.
>> No. 7965 Anonymous
6th August 2020
Thursday 5:50 pm
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FAANG stocks are booming at the moment and will for a while - I am out of gold and back into them right now.
>> No. 7975 Anonymous
15th September 2020
Tuesday 1:31 pm
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The Court of Appeal have rejected the challenge from WASPI to be compensated for the female State Pension age increasing from 60.


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