Pension stuff, how's it all looking ? HAve you prepared ?

[Yambo]

True potentials slogan is > "do more with your money" anyone know what that means.

This?

I think it's interesting that that video has been produced by the The Financial Conduct Authority and The Pensions Regulator.

They seem to be advertising the fact that they allow the sort of behaviour depicted in the video to happen. Do they have no powers to deal with the thieves? What is their reason for being?

[Horse]

Do they have no powers to deal with the thieves? What is their reason for being?

I suppose it's the difference between someone forcing their way into you home and taking your cash and you inviting them in and handing over an envelope stuffed full of notes.

Along with that, how they caveat their promises.

[Mr. Dazzle]

They seem to be advertising the fact that they allow the sort of behaviour depicted in the video to happen. Do they have no powers to deal with the thieves? What is their reason for being?

Same reason the Police offer home security checks and the Fire Brigade have those chip pan fire demo vans innit?

[Potter]

I think it's interesting that that video has been produced by the The Financial Conduct Authority and The Pensions Regulator.

They seem to be advertising the fact that they allow the sort of behaviour depicted in the video to happen. Do they have no powers to deal with the thieves? What is their reason for being?

I haven't watched the video, but how do you tell the good guys from the bad, they're all saying "Give us your money and we'll grow it for you".

It's the wild west, even the legit ones are dodgy, I'm not sure what level of rules would stop someone losing money.

[Yambo]

The video implies that the FA stole the money. Last time I looked, theft was a crime.

[Screwdriver]

If it was a fair system no doubt you could make money simply by investing in BlackRock for example because there is no doubt at all they are going to make a shit ton of money when we enter this next recession. Chances are though that there will be some special rule that means while these asset management companies make an absolute fortune, their lesser investors will end up getting shafted. Investment capital will be pulled out of the virtual world into real tangible assets like artworks or even gold long before the entire system goes tits up.

Speaking of disasters, looks like a number of very rich people are going to become considerably richer as Hawaii is allowed to burn its way through the homes of those who actually live there. Many of whom made the mistake of refusing to sell up to developers when they had the chance. Bit like the crooked pub if you ask me.

As an aside, I finally twigged why rich assholes like Billy Gates (and Oprah Winfrey in Hawaii) are desperately buying up farmland, as if they care about growing food or doing anything positive for humanity. Turns out it is a massive capital gain tax scam for the super rich (and landowners). There are huge subsidies or capital gains offset specifically for "farmland". Land increases hugely in value of course so you would expect capital gains to also increase. Nope. In fact the super rich get state handouts, millions, merely by dint of the fact they call it "farmland".

I sincerely believe we are entering the "endgame" for our capitalist system. If you're not rich yet, you never will be. The super rich will simply change the rules of the game until they own everything. On the face of it not a terrible prospect for someone like me who could easily live on whatever meagre "universal income" our masters condescend to hand out. Not so good for your pension pot now that they're clearly coming after the middle classes.

[MyLittleStudPony]

Pension stealers!

[JackyJoll]

If it was a fair system no doubt you could make money simply by investing in BlackRock for example because there is no doubt at all they are going to make a shit ton of money when we enter this next recession. Chances are though that there will be some special rule that means while these asset management companies make an absolute fortune, their lesser investors will end up getting shafted. Investment capital will be pulled out of the virtual world into real tangible assets like artworks or even gold long before the entire system goes tits up.

Speaking of disasters, looks like a number of very rich people are going to become considerably richer as Hawaii is allowed to burn its way through the homes of those who actually live there. Many of whom made the mistake of refusing to sell up to developers when they had the chance. Bit like the crooked pub if you ask me.

As an aside, I finally twigged why rich assholes like Billy Gates (and Oprah Winfrey in Hawaii) are desperately buying up farmland, as if they care about growing food or doing anything positive for humanity. Turns out it is a massive capital gain tax scam for the super rich (and landowners). There are huge subsidies or capital gains offset specifically for "farmland". Land increases hugely in value of course so you would expect capital gains to also increase. Nope. In fact the super rich get state handouts, millions, merely by dint of the fact they call it "farmland".

I sincerely believe we are entering the "endgame" for our capitalist system. If you're not rich yet, you never will be. The super rich will simply change the rules of the game until they own everything. On the face of it not a terrible prospect for someone like me who could easily live on whatever meagre "universal income" our masters condescend to hand out. Not so good for your pension pot now that they're clearly coming after the middle classes.

Oprah set Hawaii on fire!

[Count Steer]

Not that it's got much to do with pensions (unless you're a farmer) but UK arable farmland ave £/acre rose to £10,600 in 2022 cf the previous peak in 2014 of £10,000. Not exactly inflation beating. The attraction is, of course, in subsidies/tax breaks which might explain why James Dyson et al own so much of it. It was ever thus - what did a king give his favoured ones? Land. Now the new arriviste gentry are 'industrialists' and 'entrepreneurs' but the old gentry still own huge swathes of it.

https://www.countrylife.co.uk/country-l ... ners-20175

[MingtheMerciless]

Lex Luthor : [laughing] Before that. He said, "Son, stocks may rise and fall, utilities and transportation systems may collapse. People are no damn good, but they will always need land and they will pay through the nose to get it!

[Count Steer]

Lex Luthor : [laughing] Before that. He said, "Son, stocks may rise and fall, utilities and transportation systems may collapse. People are no damn good, but they will always need land and they will pay through the nose to get it!

'Buy land. They don't make it any more'.

PS Oh yeah, Lord Elon owns 6,000 acres (of Texas, so just a small ranch) too.

[Screwdriver]

I appreciate the inherent value of land but this is how the system is being "gamed". These tax breaks, subsidies, handouts <whatever> were never intended to be used for the purposes of tax avoidance. One assumes they were to allow "poor" farmers to survive and prosper through the in/outs of a highly variable business model.

The opposite is now the case as land is being used as a sort of tax dodge by the super rich who are buying it up along with and sometimes in spite of owner/farmers. I think this is also the EU plan for large swathes of Denmark and the "land grab" (if that's what it is) in Hawaii could be a a step too far if half the population of an entire state effectively get swindled out of house and home by the very state instruments which are supposed to support them.

I don't know how all this ties in with pensions and pension schemes. I rather suspect this is how enormous wealth is accrued and hidden from the people who are funding it. I would not be surprised in the least if there's suddenly a massive "hole" in pension schemes after the next inevitable financial collapse while incredibly at the same time, the asset management companies which run those schemes find their profits have doubled (again).

[Yorick]

Over the last 3 pages I've read a right fucking mix of patronising bollox, shit and expert crap. I have no idea what any of of it means.

I did it my way without knowing any of it.

But makes me giggle all the experts ramming their shit down folk's throats. Oh, and most of them are still working, so they can't be very good

There's thousands of expert financial advisers out there. If they were any good, they'd be retired. Think about it

[Felix]

Over the last 3 pages I've read a right fucking mix of patronising bollox, shit and expert crap. I have no idea what any of of it means.

How do you know its patronising?

[Horse]

Over the last 3 pages I've read a right fucking mix of patronising bollox, shit and expert crap. I have no idea what any of of it means.

I did it my way without knowing any of it.

IIRC (and I don't know your pension arrangements) you did it by working hard, investing in property (which is work in itself) and being made redundant at an opportune moment. If right you had control over two of them and you took control of things that could.

[JackyJoll]

I did it my way without knowing any of it.

[MyLittleStudPony]

True potentials slogan is > "do more with your money" anyone know what that means.

This?

Pension stealer!

[Potter]

From left to right

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[Count Steer]

In response to the comment that there's no actual advice on the thread, here's some suggestions and thoughts on non-final salary pensions.

The value of your pension pot will go up and down. While you're working, going down isn't bad - in fact it can be bonzer, it means your money is buying more 'units, shares' whatever each month so when things pick up the ratchet effect is

Avoid draining it while it's in a down phase as the ratchet works the other way. So, be flexible on retirement date and/or build a safe pot of savings ie savings account, Premium Bonds etc that you can tap into in order to defer/reduce calling on the pension pot.

If the markets are when you do retire, pull some tax free cash out and do that ^^^ with it (rather than buying a Ferrari ), again so you can limit the drain on the more volatile funds if the markets stoof again during retirement.

Pay down/off your mortgage (debts) before retirement (or plan to move/downshift, preferably before you retire). You need to know what your outgoings will be as far as poss and mortgage costs rising when you're retired is a bit

Whatever you think you'll need in retirement, add 30%+

Usual disclaimer: I'm not a financial adviser but I have had a financial bruise or two and might have learned a bit from them.

[Screwdriver]

I **think** I dodged a bullet and started my pension payments before the value tanked. No idea if that is true but I was given a figure a year or so ago and that’s the figure I get now (except it just got bumped up by 10%).

So did I get lucky or will my monthly pension payment vary according to the vagaries in the market?