Reply to: Provision for retirement...

[expat]

Do the world a favour and die young with a large inheritance tax bill.

Too late on all counts, Dim Pr0n!

[DimPrawn]

Do the world a favour and die young with a large inheritance tax bill.

[expat]

And your reasoning that the "tax raid" hasn't damaged pensions is what exactly?

UK savings dropped by 50% shortly after the tax dividend relief was introduced, and the stock market dropped sharply (i.e wiped off 5 years worth of growth).

That's no effect in your book, huh?

Purely psychological. There was no real reason for it.

[bobhope]

I wonder if there's any correllation between this fall in private pension provision & Gay Gordon's theft of £5billion per year from the pension funds...

Mmmm.

Pre-97 the UK had probably the best, if not one of the best future pension fund provisions in Europe
Now: massive deficits.

Coincidence?

[DimPrawn]

Whichever way you look at it, this country is shafted. Best thing you can do with your savings is get them out of here and to a country that might stand a chance of prospering longer term.

Think Canada - resource rich and getting richer due to commodity valuations. The CAD has been appreciating against the $ and £ during le crunch. Crisis? They're booming over there.

Boomed!

And lots of nice Beaver too!

[ChimpMaster]

Whichever way you look at it, this country is shafted. Best thing you can do with your savings is get them out of here and to a country that might stand a chance of prospering longer term.

Think Canada - resource rich and getting richer due to commodity valuations. The CAD has been appreciating against the $ and £ during le crunch. Crisis? They're booming over there.

[Marina]

So what's everyone doing with their savings?

To answer that I'd need to know what this strange word "savings" means. It's not one I'm familiar with.

[DimPrawn]

Bad news

Hmm this article paints a pretty bleak picture.

So what's everyone doing with their savings?

Don't know, but did find this link on the same Daily Mail webpage.

http://www.dailymail.co.uk/pages/liv...n_page_id=1773

[rhubarb]

Bad news

Hmm this article paints a pretty bleak picture.

So what's everyone doing with their savings?

She had a handful of notes! Mug her!

Rhubarb.

[BlasterBates]

Bad news

Hmm this article paints a pretty bleak picture.

So what's everyone doing with their savings?

[shaunbhoy]

.

The only fun part of being old is moaning about how poor you are to anyone who will listen.

DP,
no need to wait till you are old. I do that now!!

[51st State]

There isn't, actually. Brown's £5b grab was wrong, but it's peanuts compared to what financial advisers cream off the savings of people who invest in their products. Now there's a bunch of people with a good plan for their retirement.

And your reasoning that the "tax raid" hasn't damaged pensions is what exactly?

UK savings dropped by 50% shortly after the tax dividend relief was introduced, and the stock market dropped sharply (i.e wiped off 5 years worth of growth).

That's no effect in your book, huh?

[expat]

I wonder if there's any correllation between this fall in private pension provision & Gay Gordon's theft of £5billion per year from the pension funds...

There isn't, actually. Brown's £5b grab was wrong, but it's peanuts compared to what financial advisers cream off the savings of people who invest in their products. Now there's a bunch of people with a good plan for their retirement.

[miffy]

Like you need £30K p.a. when you are an incontinent old git in an old folks home.

Well if you're still fit enough to stay in your bungalow, £30K probably won't go far. 70% will go on council tax by then and the rest wil be spent in ALDI.

If I don't give up the booze and fags then the chances are that I won't live past retirement age anyway, but I just cannot take the risk that I might end up healthy and poor.

Snap.

I hate thinking about retirement/old age. If I'm not being robbed by the local chavs by then, the government will certainly steal whats left from me.

[Gonzo]

Like you need £30K p.a. when you are an incontinent old git in an old folks home.

I agree, but there a plenty of people around that don't get to that stage until they reach 90.

If I don't give up the booze and fags then the chances are that I won't live past retirement age anyway, but I just cannot take the risk that I might end up healthy and poor.