neutral guy wrote: » The pension funds is the same as charity organisations.The top man has 20K salary per month,couple clerks has 15K and they all happy.Can somebody tell me why when I bring to pension fund 2K per year on end of the year I have bill : All paid in 2000 Administration fee 500 Annual loss due with markets "jumps" 500 Your balance on end of the year is 1000 Well guys,can somebody tell me why I have pay 500 euros per year feeding guys who create me loss of 500 per year ? You know what ? The bar of gold cost 360 buks in 2002 ,today it cost about 1900 Why should I share my money with guys in pension funds who waste them if I could buy bar of gold and throw it on attic lets say for another 20 years ? I am not gonna feed anybody and I dont believe any pension funds ! And also guys,can somebody explain me why people got pennies on pensions or loss when markets are on top of the history sky height ?
JJayoo wrote: » Don't have kids and you won't have to worry about pensions, expensive little cnuts
colm_c wrote: » Still not seeing the correlation. No kids, don't save for retirement? Kids, don't save for retirement? A pension is merely a vehicle to allow a way to save for retirement with tax benefits. Kids or not you should have something put away for retirement.
Liamo57 wrote: » Im 62, got a great redundancy last year. Have a pension and a lovely part time job and my health. A pension is so important, life is brilliant, and I get up each morning abd I can do what I want Paradise..... thats how important a pension is.
AlmightyCushion wrote: » Who is your pension with and what is it invested in?
All paid in 2000 Administration fee 500 Annual loss due with markets "jumps" 500 Your balance on end of the year is 1000
The bar of gold cost 360 buks in 2002 ,today it cost about 1900
Top chief wrote: » Hi I'm 29 soon and I want to open a private pension . I'm not sure where to start or where to look. I have 2 bank accounts with different banks as dont want all my money in one bank. I have a bit of money put away in a safe aswell for a rainy day Wondering what is a good amount to put away into a private pension each month for a good return? Also does it matter if I dont put any money In one month but put the following month .
homes_for_all wrote: » Pensions are a scam. Stay well clear.
howamidifferent wrote: » Username says it all. Pay for nothing and expect everything.
homes_for_all wrote: » The whole pension industry is a scam. Let's examine it. At the bottom you have your average Joe. He's told to invest in the market to secure his old age. 1) The government encourage this so they can leave the oldies to the wolves in a few years. "No money for heating the house? Tough, you should have invested in a different fund!" 2) Employers love it as it costs them less. They include pension contributions are part of your package, but ask for the equivalent in pay now? Nope. Your package is lacking to say the least. 3) The market... So your average Joe is pumping money into big Pharma, funding wars and war industries, tobacco etc etc. and to top it off, big oil! Let's just destroy the planet and kill people! 4) The market again... it crashes every few years, to siphon off Joe's money. Of course the big boys don't worry. 5) The pension industry. Excessive fees, no accountability, and preying on people's financial illiteracy. Save for your old age by all means through any number of avenues, but stay clear of the pension industry and the stock market.
GreeBo wrote: » If this happens to Joe, then Joe is an idiot who ignores the most basic advice about pensions. i.e. Don't keep it in high risk areas when are are planning on accessing it anytime soon. Care to elaborate on the "any number of means" when you exclude the stock market and a pension?
homes_for_all wrote: » We all saw the old people who lost everything in 2008.
homes_for_all wrote: » Pensions are a scam. Stay well clear. Does the following sound right to anyone? We've got a global pandemic, businesses crumbling, unprecedented amounts of people out of work, the governments of the West are printing money with no end in sight, whole industries are disappearing... and yet, the market is up! I've heard a lot that "this is different" (lol) and that "demand is still there" (lol). But the fact is, the system is rotten and this house of cards has to come crashing down.We all saw the old people who lost everything in 2008. The snake oil salesmen only want their fees. Your fund goes up, they take a piece. Fund goes down? That's your problem, I'll still be having my fees. Take a look at the graph of the S&p 500. It doesn't look right. Keep well away from pensions and stocks. The people of the 1920s would like a word with you!
homes_for_all wrote: » Gold, property, bonds,
McGaggs wrote: » What makes these markets any different to stock markets?
NIMAN wrote: » The old people who lost everything in 2008 often had their money in bank shares, which became more or less worthless. If they had their money in a pension scheme, it would have went down, but not vanished. You haven't a clue what you're talking about.
homes_for_all wrote: » High risk? Odds are that your average Joe will have a 30-50% exposure to the American market (as an example) in a standard fund that a company will default them to. Look at what I said, it's behaving completely irrationally. It's a fradulent system which cannot keep ignoring reality. But you're now putting blame on Joe for not being financially up to date on the market! That's what the government want! Gold, property, bonds, your own residence (i.e. no rent or mortgage) in old age.
homes_for_all wrote: » Pensions are a scam. Stay well clear. Does the following sound right to anyone? We've got a global pandemic, businesses crumbling, unprecedented amounts of people out of work, the governments of the West are printing money with no end in sight, whole industries are disappearing... and yet, the market is up! I've heard a lot that "this is different" (lol) and that "demand is still there" (lol). But the fact is, the system is rotten and this house of cards has to come crashing down. We all saw the old people who lost everything in 2008. The snake oil salesmen only want their fees. Your fund goes up, they take a piece. Fund goes down? That's your problem, I'll still be having my fees. Take a look at the graph of the S&p 500. It doesn't look right. Keep well away from pensions and stocks. The people of the 1920s would like a word with you!
thebourke wrote: » =Can someone explain what would happen the other 300k? How is it taxed?How do they work out yearly repayments?
thebourke wrote: » my question...say for example you get to retirement (i have 18 years to go yet!) and you pension is worth 400k for example you can get 25 percent tax free at retirement,which would work out at 100k Can someone explain what would happen the other 300k? How is it taxed?How do they work out yearly repayments?
