Another great Daily Mail headline-grabber from the government which no doubt means we’ll hear ‘these pensions are dodgy, aren’t they?’ still more often from clients. It took 10 years to get the Barclays bankers to court, so don’t hold your breath over any prosecutions under these proposed rules. Problem is that final salary pension schemes are now a noose around the neck of big companies; in large measure due to Gordon Brown’s clever ruse, insisting they secure their liabilities against government bonds. Great for the sale of government bonds, but with returns still only around 1.5%, a hiding to nothing for the pension schemes. Thanks, Gordon.
“Why you should never retire”
On my 50th birthday, I will always remember, amongst the card or two I received was a letter from Saga’ who’d managed to find out my age through the wonder of the internet, and were pleased to tell me I now qualified to join my parents and go on holiday with them.
