Pension Problems.

[peteshimmon]

A television show last week presented some
explanations of why over 100,000 people have
lost their occupational pensions. It is a
horrible story for the affected people but I
fear some obfuscation is taking place as to
why it happened. The main reason is the big
bear market of a few years ago that caused
many firms to fail. That is not disputed.
Then there is the withdrawal of dividend
tax credits. At the time many firms were
having pension contribution "holidays" as
the pension funds were said to be over
subscribed. So that was not seen as a cause
of future problems. But another reason
claimed in a sudden rise in life expectancy!
An Actuarial book was thrown into the Thames
to back up this idea. It is ridiculous to
say that people are suddenly living 10 years
longer! But the main reason funds are in
deficit is new regulations on the funds! That
is the problem is a stroke of the pen! It is
frightening to see how a television show will
try to claim it is the fault of people
themselves for living longer that is causing
problems. They should clarify the whole
picture and for a start I learned a few years
ago the one in four of us will depart between
ages 45 and 65! That is quite a contribution
of wealth that the funds receive that never
goes to the unlucky person!

[BigDon]

Pete, didn't you folks learn from us what to do when goverment starts pulling shinannigans like this? Don't throw an Actuarial book (?) into the Thames, huck a couple of politicians into the Thames! It will get their attention faster. Be quick! Old folks are going hungry!

[peteshimmon]

According to the press, our politicians are
getting ready to enhance their own pay and
pensions! Apparently they get jittery when
the remuneration of medical doctors gets too
far ahead of them. But what really annoyed about
the television program was the film of some
silver haired surfers in wetsuits with their
wind driven surfboards on the South coast. In
all ages it has been possible to seek out
lucky folk still active well into their
sixties. In the context of the show it was
a blatant attempt to suggest that all older
people these days are lucky like this and it
is not true! One must be on ones guard against
our so called free media putting out propaganda
to stroke peoples perceptions in some direction.
The show was trailed as a blast against the
pensions world but it turned out a damp squid.

[BigDon]

Now Pete, a man with your obvious long perpective of the world shouldn't be surprised at anything your (the UK's) version of "Hollywood" puts out any more than you shouldn't be surprized at discovering "unchasted" streetwalkers. The two professions amount to about the same thing.

Now I'm not saying you shouldn't complain, and you have a sympathetic ear here, but you shouldn't be surprised.



Oh, and I'm not trying to be rude but Mr. Paragragh is your friend.

[mike alexander]

For heaven's sake, Pete! Run for office! Your pay and pension will be assured if you win.