Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Keith - I was referencing above a legal situation, the law, not threatening anything at all or trying to silence anyone. Once again differentiate between what is a viewpoint, what is a matter of legality and what is factual information. Perhaps its just that you like to stir up trouble wherever you can?
Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,888
Barryw
You will see that mine has been to encourage those, whether or not they are correct
We all have our own strong knowledge/expertese, but most will attempt to encourage others to post, no matter there viewpoint
ALL POSTS ARE MY OWN PERSONAL VIEWS
Jan Higgins
- Location: Dover
- Registered: 5 Jul 2010
- Posts: 13,835
I am not getting into this present debate but I remember when legal action was threatened when another member made a joke which was taken the wrong way.
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I try to be neutral and polite but it is hard and getting even more difficult at times.
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Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,888
We all jan post items, and often posters have tried to silence me by saying(incorrectly)that my comments may be libel
what we need to do is to encourage viewpoints,
if we are to hide behind legal challenges etc we are going down a very slippery sad path
ALL POSTS ARE MY OWN PERSONAL VIEWS
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
in this particular instance philip has given his advice/ view which most of us do at one time or another on here, evidenced by the blakes incident.
i tend to agree with keith b that if he is not charging for his advice then no harm is done or law broken.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,888
The Ay's have it lol
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Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Jan what you refer to was not a joke, very far from it. I will not dredge up old history but it was actually a serious matter that could have been simply resolved if there was common sense from a particular party.
Howard - you are wrong. I am not suggesting that harm was done, no-one would be so stupid to do what he advised, but a law was broken and it was fair to warn of that.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,888
I don't recall the story
but anyway remember the hard fought for freedom of speech that barryw goes on about
ALL POSTS ARE MY OWN PERSONAL VIEWS
Guest 725- Registered: 7 Oct 2011
- Posts: 1,418
All this fuss. I wouldn't mind but I removed the post earlier in the day. I believe it's better to err on the side of caution which is why I deleted it.
As I said earlier one would need one's head tested to take serious financial advice from anyone who posted a comment (which let's face it was all that it was, a silly off the cuff remark) but still hey ho life goes on.
Personally I've never earned enough to contribute to a personal pension. It's the young folk I really feel sorry for though. What with student fees, high rents, scarcity of jobs and the current squeeze there's not much left to put into a pension.
I know that advisors recommend putting even the smallest amount as soon as possible into a working career but frankly for many this is more than difficult.
As Paul Whitehouse used to say "Why don't they bring back the seventies?"
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,888
Philip
we dont often agree but it is sad that you have felt the need to remove a post
sad realy
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howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
i agree keith, disappointed with philip on this one. all over the internet we hear people telling us how to get rich, cure our terrible illnesses and even find true happiness.
no-one in their right mind takes it seriously.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Ray, "Copying and pasting from the web is plagiarism unless you quote the source."
There are no copying and pasting posts of mine anywhere on the Forum that do not have a source-quote, at times a direct link.
Haven't you tried this one out on me before?
But I've made the following consideration regards the publication "The End of Britain": if it were untrue what is written there, the Government would no doubt issue a statement explaining why. This has not happened, and I'm not aware of any other office, individual or organisation having disputed the content.
Currently I assume there are no counter arguments to what is stated in the publication.
This leads me to believe a pension crisis is unfolding.
So, in conclusion, all "is not well".
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,888
Does call into question some comments.
very sad day for the forum
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Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
oh dear the end is nigh,but can alex and others [kieth] give us a time and day when its going to end.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Philip #69 - you acted sensibly and appropriately. In respect of pensions there is auto-enrolment under way now in big firms and it will spread down to the smallest firms as they hit their staging dates up to 2017. All employees will be automatically enrolled into a pension scheme, though they do have the right to opt-out, but will then be re-enrolled automatically three years later and on it goes. This adds a lot of costs to businesses at a bad time and a whole raft of penalties and red tape to conform to, it will be enforced with checks on record keeping and employers who fail to do the right thing at the right time or even just do not have the documentation to prove they did it, face heavy fines.
This policy in my view is wrong headed and I am disappointed that the coalition did not drop it when it came to power.
It does try to rectify a serious problem that must be addressed but it is the wrong way to go about it.
I should say that when I said all employees, there are qualifying ages and income thresholds. This adds to the complexity for employers in categorising employees the right way.
Guest 714- Registered: 14 Apr 2011
- Posts: 2,594
Barry this is very complex.
All public sector pensions whether it be police, NHS, council etc are simply a ponzi scheme, as we live longer and the tax take drops they are unsustainable, so yes a crisis is looming. That doesn't take into account the state pension but the same applies.
As for private pensions, interest rates and annuity rates are so low that accumulating a meaningful sum is, for the majority of people, a futile exercise.
Thats not advice, its a point of view.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
A fair view but one with which I disagree David,
The public sector pensions are indeed unsustainable and, I have said before, that they need to drop the defined benefit scheme and adopt a funded defined contribution scheme instead.
The State Pension is insufficient to provide anyone with a decent living in retirement and is a safety net only. Measures to link it to age expectancy are a help with funding it.
As for private provision do not confuse the current economic circumstances with the long-term picture. These things always come in cycles. There are good investments and with the right type or combination of investments a decent return can be obtained. Indeed even over the last 5 years my own portfolios have achieved a decent average growth rate, above average and providing an appropriate premium over cash*. It is most certainly possible to accumulate a reasonable sum with the right investment strategy even now. Annuity rates are appalling but they do reflect interest rates and longevity with enhanced rates available as a result of lifestyle and health factors. You also need to consider that annuities no long have to be bought at all and flexible drawdown is a great help if someone has built up sufficient provision to be able to take advantage of it.
Do remember, retirement planning is not just pension planning, a pension is just one of the tools used to achieve an income in retirement. It is an important tool of course, simply because every payment made into one grosses up - £100 spent is £125 invested with extra tax relief for higher rate taxpayers. Stocks and Shares ISAs can also give a good income yield with the right combination of funds with a tax-free income, yields on income portfolios are anything between 4% and 6% tax free, depending on capital risk. There are other investment 'tools' that can be used as well.
So it is all about getting it right. I have never been busier!!!
* Past performance is not necessarily an indication of future performance
* investments can go down as well as up
Guest 714- Registered: 14 Apr 2011
- Posts: 2,594
Very fair reply Barry, thank you.
My viewpoint is a generic one, we are facing not just a crisis but a timebomb and I don't see either or any sector will escape unharmed.
Of course, I don't have a solution, but luckily its not my job
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,888
interesting david, unlike philip you were not told you were wrong.
At the end of the day we all recognise theres a problem looming
ALL POSTS ARE MY OWN PERSONAL VIEWS
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
For any who aren't acquainted with the term "ponzi-scheme", it's a debt pyramid that get's larger all the time and can never be paid off following the laws of mathematical certainty.