Reeves Is Now After Your Pension Funds

[Khandro]

Grab the funds and invest them. What could go wrong?

 

https://archive.ph/JXHAS

[DDIL]

Can't your link.

[DDIL]

open

[youngmafbog]

https://www.dailymail.co.uk/news/article-14079863/Rachel-Reeves-biggest-pension-reform-decades.html
 

[naomi24]

https://www.theguardian.com/business/2024/nov/13/rachel-reeves-megafunds-uk-public-pension-system

 

 

[youngmafbog]

Actually, depending on the fine detail, I think there could be some mileage in this.  It's just the 5% being forced that bothers me.  5% today, what tomorrow?

[webbo3]

I can.

didn't Gordon Brown raid the pensions

https://www.thisismoney.co.uk/money/comment/article-13041677/HAMISH-MCRAE-Time-fix-Gordon-Browns-pension-errors.html

 

https://www.telegraph.co.uk/money/pensions/gordon-brown-ruined-retirement-generation/

[DDIL]

Thank you youngmafdog.

She is possibly reforming the pensions, how is that a bad thing. Every day on here there are complaints that there are those sitting around doing nothing getting more than those that saved.

How about waiting for the outcome before jumping to conclusions.

[youngmafbog]

Browns raid on pensions was nothing like this.

[Old_Geezer]

Government job pensions, isn't it ?

 

I'm unsure how merging smaller pots into one helps much. Every pot of whatever size is surely permitted to invest in whatever it deems suitable. Amalgamating them doesn't change that.

 

Plus if a priority for them is to be investment in the UK (which should already be being considered) doesn't that mean the prime aim of making money for members pensions become less important, or maybe even secondary to boosting the UK economy ? That's not what they are there for.

 

I think we need to be shown the pros and cons list of this.

[naomi24]

//She is possibly reforming the pensions, how is that a bad thing.//

 

I don't think we can necessarily be confident that she will handle the funds to our best advantage.

[chelle7272]

Pension funds are already invested, if pooling them cuts costs and broadens investment opportunity I don't see it is a problem.

[Khandro]

//Pension funds are already invested,//

Yes but not by Rachel Reeves and not all in one place.

[webbo3]

^exactly, i ask my pension provider to invest in the funds i want, high risk, low risk, ethical

[davebro3]

//I'm unsure how merging smaller pots into one helps much. Every pot of whatever size is surely permitted to invest in whatever it deems suitable. Amalgamating them doesn't change that.//

Just seen on tv - larger funds are more resilient & can make riskier longer-term investments. dunno 🙄

[Old_Geezer]

I'd guess than means one area's pot will effectively back up the others and give managers confidence to make unnecessary higher risk gambles with people's pension.

[Maydup]

I'm hoping this refers to the public sector pension pots rather than the private ones. 

[davebro3]

I think it does - mainly Local Authorities? Oh wait! - didn't some of them make disastrously risky investments with public money in the recent past?🙄

[New Judge]

"However, the chancellor is now under pressure to add green targets to her pension reforms, after leading British actors including Mark Rylance, Olivia Colman and Benedict Cumberbatch called for an increase investment in clean energy."

^^^This is what would concern me. The government and pension actuaries should be pressured by Thespians to invest their funds in any particular way. If so-called clean energy is a good invesment that should be the only consideration. 

[Togo]

The pension funds would be invested in local government schemes and ones that may be part of a political strategy. There is a likely pool of about £50 billion that will be removed from its current management and managed by "approved" personel. Now I couldn't care less if the cosseted public sector parasites lose every penny, and the chances are great given the business acumen of your average socialist, but I worry for the genuine hard working people who are reliant on this ponzi scheme. Probably give it all to Milliband for his nut zero scam and he will skim it and put the rest in another black hole.  

[ToraToraTora]

The idea of amalgamating the funds is sound enough, I am a little worried about the management of that and all this ethical this and that rowlocks.