The Retirement Thread

7 lurkers | 176 watchers
TROSaracen
TROSaracen
8:57am
8:57am, 15 Nov 2024
28,465 posts
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TROSaracen
So Government infrastructure projects, legendary for waste, over-runs and inefficiency even with their own money, now given carte Blanche to water cannon people’s pension pots into the mix.

Just relieved it’s not my retirement at stake….
Mushroom
Mushroom
9:11am
9:11am, 15 Nov 2024
3,436 posts
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Mushroom
It's not actually clear how or where the money is being invested. We don't have all the details.

But if the money is being invested in the companies that are delivering the projects, then even if the projects are late or over budget, surely those companies are still benefitting, and so will its shareholders?
HappyG(rrr)
HappyG(rrr)
9:15am
9:15am, 15 Nov 2024
51,362 posts
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HappyG(rrr)
Feels like more of a one for the Politics thread? How many people on here have pensions that are in the pots that the government proposes to move?
Bazoaxe
Bazoaxe
9:39am
9:39am, 15 Nov 2024
27,679 posts
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Bazoaxe
Apparently my DB scheme is in surplus and to the tune of £700m so my employer is looking at if or how they can get some money out of it. Not sure if I should be worried or not and maybe is it best for me to be retired and taking an annuity before that happens.
TROSaracen
TROSaracen
12:03pm
12:03pm, 15 Nov 2024
28,466 posts
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TROSaracen
No need to worry Baz. It means they have £700m more than the actuaries have calculated the fund will need to pay out. The company will probably take a pension holiday (reduce their payments in) which will make bosses very happy. It won’t impact payouts.

If there was a £700m deficit, then the company would be looking at some combination of paying in more and reducing liabilities.

A slightly less secure position, but they can’t reduce the DB that you have already racked up. They would do this by reducing what new entrants to the scheme get (or closing to new entrants entirely) or maybe reducing the way current members rack up the DB pot going forwards.

I saw all the above scenarios building my DB at BT.

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