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Forced Pensions - Page 2 - Peoples Republic Of Cork Discussion Forums

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  #11  
Old 02-11-2019, 04:56 PM
Donald Trump Donald Trump is offline
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Originally Posted by MerchantOfEnnis View Post
I have my reasons.
Sorry.

I didn’t realize it was top secret.
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  #12  
Old 02-11-2019, 05:08 PM
an liathroid beag an liathroid beag is offline
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Originally Posted by gaffer falls View Post
More FG anti progressive tax system sleight of hand
Make the low pay pay towards their pensions instead of universal provision. A bit like water charges.
I had a small few small pension pots from various employments but if I purchased an annuity it would take 45 years to even get my money back
Spend it while you got it and they can't take spent money from you
With low or no growth in equities, zero yields in bonds and negative returns in interest rates the final pension pots will be derisory
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  #13  
Old 02-11-2019, 05:33 PM
gaffer falls gaffer falls is offline
 
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Your golden years my arse
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Originally Posted by sunbabe08
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Well the poor lad needs a helping hand. Only to happy to help out
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  #14  
Old 02-11-2019, 05:47 PM
an liathroid beag an liathroid beag is offline
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Originally Posted by gaffer falls View Post
Your golden years my arse
The sad reality is that the baby boomers will have spent the Millennials pension pot.
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  #15  
Old 02-11-2019, 07:53 PM
Diamond Joe Quimby Diamond Joe Quimby is offline
 
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Take a pension investment with 7% return and a 2% "Management Fee"

After 50 years you will get back just over 30% of what you should with no fee due to the magic of compound interest.

Imagine you invest 100% of the ingoings, take 100% of the risk and get 30% return for that honour.

Pensions are the biggest ponzy scheme going.....multiples of Maddoff
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  #16  
Old 02-11-2019, 08:00 PM
Diamond Joe Quimby Diamond Joe Quimby is offline
 
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great documentary on it

https://www.youtube.com/watch?v=oT4hYVQam40
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  #17  
Old 04-11-2019, 12:49 PM
SoundMan SoundMan is offline
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Originally Posted by Meridian View Post
I agree, it always makes me wonder how guys who work in the pension business always seem to have new flash cars and plenty of money.

I always think, who is paying for all that.

Well I am not fuck them.
Guys working in insurance always seem to have even newer and flasher cars.
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  #18  
Old 04-11-2019, 12:49 PM
SoundMan SoundMan is offline
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Originally Posted by dennisfallen View Post
Get put in prison when things get too tough for you.
3 square meals a day, free gym, free books, free sky TV, free dental, optical and medical, warm surroundings, and they'll give you free education too. Fuck going to a nursing home for me. Them cunts would empty your life's savings in a matter of months.
You forgot to mention en-suite accommodation.
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  #19  
Old 04-11-2019, 12:53 PM
Happyhonkaman Happyhonkaman is online now
 
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Quote:
Originally Posted by Diamond Joe Quimby View Post
Take a pension investment with 7% return and a 2% "Management Fee"

After 50 years you will get back just over 30% of what you should with no fee due to the magic of compound interest.

Imagine you invest 100% of the ingoings, take 100% of the risk and get 30% return for that honour.

Pensions are the biggest ponzy scheme going.....multiples of Maddoff
yeah, very few people tend to be happy with how they work out - an executive pension is def worthwhile though if you have access to one

There is no way I'd rely on any of the pension providers though.. a paltry 'the market took a hit' return is par for the course
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  #20  
Old 04-11-2019, 01:12 PM
SoundMan SoundMan is offline
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Originally Posted by Happyhonkaman View Post
yeah, very few people tend to be happy with how they work out - an executive pension is def worthwhile though if you have access to one

There is no way I'd rely on any of the pension providers though.. a paltry 'the market took a hit' return is par for the course
I remember a colleague speaking at one pension presentation back in the day after yet another "market took a hit" talk.

He said isn't it true that if we ignore the employers contribution and just took the money we contributed ourselves and put it in a hole in the ground (no compound interest in the banks) we'd be better off now by more than 10% compared to your management of the fund.

Cue a lot of embarrassed shuffling of feet, "we had no way of knowing that world finances would take such a hit" type talks, and the meeting being brought to a close pretty sharpish.
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