Cater allen now paying 0% interest

[pmeswani]

Chap across the road is a bricklayer by trade, not only has he had no work for a couple of months but his pension fund declined by 30% last year.

I didn't realise that one could have a cracking pension like that.

[DimPrawn]

Chap across the road is a bricklayer by trade, not only has he had no work for a couple of months but his pension fund declined by 30% last year.

Where as property prices only fell by 20%.

[dinker]

Chap across the road is a bricklayer by trade, not only has he had no work for a couple of months but his pension fund declined by 30% last year.

[sasguru]

Quantative Easing my arse...

Try Immodium.

[AlfredJPruffock]

It is the people that are retiring now with defined contribution pension schemes that I feel for. Look at the current annuity rates

http://www.annuity-bureau.co.uk/AF_C...rates_rpi.html

With figures like that it is impossible to look anyone in the eye and tell them that it is worth saving for a pension. They might as well not bother (unless the government changes the rules again on compulsory annuities, which I suppose is possible).

Pensions ?

Thats the last resort of a Coffin Dodger .

Away with Pensions !

Let me Work - or Let me Die.

[bobhope]

either that or sterling will be toast

[PM-Junkie]

Frightening to think that someone who's saved 1 million pounds and intends to use the interest as a pension is now living off 7500 pounds per year; you could now have the ridiculous situation of millionaires needing housing benefit and income support to get by. Alternatively, you get capital flight as people try to find another country where they can live from their savings. This is just creating a new economic cataclysm a few years down the road.

Give it about 14 months and interest rates will be giving people even with half that much a very comfortable income. When we get through this bit of fun, the stable interest rate level will be at lot more painful than it was before the fun started.

[BrilloPad]

It is the people that are retiring now with defined contribution pension schemes that I feel for. Look at the current annuity rates

http://www.annuity-bureau.co.uk/AF_C...rates_rpi.html

With figures like that it is impossible to look anyone in the eye and tell them that it is worth saving for a pension. They might as well not bother (unless the government changes the rules again on compulsory annuities, which I suppose is possible).

I can't believe a man aged 65 only get 4.7%. I am sure it was more than that before the crunch.

[Gonzo]

It is the people that are retiring now with defined contribution pension schemes that I feel for. Look at the current annuity rates

http://www.annuity-bureau.co.uk/AF_C...rates_rpi.html

With figures like that it is impossible to look anyone in the eye and tell them that it is worth saving for a pension. They might as well not bother (unless the government changes the rules again on compulsory annuities, which I suppose is possible).

[Bagpuss]

I'd draw it all out now if it weren't belonging to HMRC or on the other hand.... if I were SallyAnne

[BrilloPad]

The go out and spend it all. Or throw a big party and invite all of us!

[Mich the Tester]

The reserve account is even worse, pays nothing up to a million

Frightening to think that someone who's saved 1 million pounds and intends to use the interest as a pension is now living off 7500 pounds per year; you could now have the ridiculous situation of millionaires needing housing benefit and income support to get by. Alternatively, you get capital flight as people try to find another country where they can live from their savings. This is just creating a new economic cataclysm a few years down the road.

[Bagpuss]

The reserve account is even worse, pays nothing up to a million

[Mich the Tester]

Just wanted to transfer some money form a notice account that has >20k but less than 50k. Advisor tells me there will be no penalty as the account is earning no interest
Thought I would check and she is right FFS


£ 500000 +
0.750
0.75

£ 100000 +
0.500
0.50

£ 50000 +
0.250
0.25

£ 10000 +
0.000
0.00

£ 5000 +
0.000
0.00

I'm so glad I'm paying for the flipless!

Here in NL interest rates are stupidly low too, but if you pay too much tax you get the surplus paid back a year later at 'wettelijke rente' (legal interest) of 5%. The self employed pay tax firstly on an estimate basis with the estimate provided by themselves, and this is corrected later. Of course, there's never been a better time to pay too much tax and lots of people are taking advantage.

[Bagpuss]

Just wanted to transfer some money form a notice account that has >20k but less than 50k. Advisor tells me there will be no penalty as the account is earning no interest
Thought I would check and she is right FFS


£ 500000 +
0.750
0.75

£ 100000 +
0.500
0.50

£ 50000 +
0.250
0.25

£ 10000 +
0.000
0.00

£ 5000 +
0.000
0.00

I'm so glad I'm paying for the feckless!