Where did all the pension money go !!!!!

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Where did all the pension money go !!!!!

Post by lady of leisure on Thu Jul 16, 2015 12:25 pm

I though this made interesting reading  hope you do too.

PLEASE PASS THIS AROUND, UNTIL EVERY ONE HAS HAD THE  OPPORTUNITY TO READ IT... THIS IS SURELY SOMETHING WE ALL NEED TO  THINK ABOUT!!!!  

THE ONLY THING WRONG WITH THE GOVERNMENT'S CALCULATION OF AVAILABLE PENSION IS THAT THEY FORGOT TO FIGURE IN ALL THE PEOPLE WHO DIED BEFORE THEY EVER COLLECTED  Old AGE PENSION.    

WHERE DID ALL THAT MONEY GO?     

Remember,  not only did you and I contribute to our Pension, our employer did, too.   It totalled 15% of your  income before taxes.

if you averaged only £15 000 over your working life, that's close to
£220,500.   Read that  again.   Did you see anywhere that the Government paid in one  single penny?
 
We  are talking about the money you and your employer put  in a
Government bank to ensure that you and I  would  have a
retirement pension from the money we put in, it was not  money that the Government had any right to spend elsewhere.

Now they've started to call the money we paid in an
'entitlement' when we reach the age to take it  back.

If you calculate the future invested value of  £2500 per year
(yours & your employer's  contribution) at a simple 5%
interest (that's less than what  the govt. pays on the money that it
borrows from overseas), after 49  years of working you'd have
£892,919.98.
      
If  you took out only 3% per year, you'd receive  £26,787.60 per
year and it would last better than 30  years (that means until you're
95 if you retire at age 65) and that's with no interest paid on
that final amount on  deposit!

If you bought an annuity with the money and it paid 4% per  year, you'd have a lifetime income of £1976.40 per  month.
 
THE CROOKS IN GOVERNMENT HAVE PULLED OFF A BIGGER ROBBERY THAN THE GREAT TRAIN ROBBERS EVER DID.
      
Entitlement? My foot,  IT'S MY MONEY!!  I paid in cash for my pension.

Just because they borrowed the money to spend on other things, that  doesn't make my pension some kind of charity or  hand out!!
      
Remember MP's benefits? ---

free healthcare,  outrageous retirement packages,

67 days paid holidays, three weeks paid vacation,

unlimited paid sick days.  Now that really should be called

welfare entitlements, yet they they have the nerve to call my

O A P retirement payments entitlements?
We're "broke" and the government can't help our own OAPs, our ex-service personnel, our orphans or our homeless.

Yet in the past few years we  have provided aid to Haiti, Chile, Turkey, India, Pakistan,  etc., etc., etc.  Literally, BILLIONS of Pounds. And they can't help our own citizens!
 
Our retired seniors living on a 'fixed old age pension have to beg social services to receive additional aid, while our government and religious  organizations pour hundreds of billions of £££  tons of food to foreign  countries!
They  call the old age pension an entitlement even  though most of us have been paying for it all our working lives, and now, when it's time for us to collect, the government is running out of money.
Why  did the government borrow from it in the first place?
It was supposed to be in a securely locked box, not to be used as part of the  Government's general  funds.
 
Most people won't forward this, I did, in the hope some of you will do the same.

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lady of leisure

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Re: Where did all the pension money go !!!!!

Post by twointheeye on Tue Aug 04, 2015 10:27 am

We have never had a wide circle of friends, but three have died this century before reaching pension age. Their contributions therefore have been a 'bonus' for the government to squander on something else!
Mr Two reaches pension age in 2 weeks, and remarked when he received the letter from the DWP on the use of the word "entitlement". Thanks a lot civil servant, it was his money you were keeping for him!
We both took out tiny pensions (£10, £15, £25 per month) in the '80s. Those funds now total over £75,000. Now however we find some people regard us as part of the filthy rich! More worryingly, we see and hear opinions expressed regarding the 'middle class wealthy pensioners' - there were several calling for us to be taxed more in what was our local paper in the UK, just because we worked from age 16 and put a small sum aside as savings.
That said, we have no objection to helping those less fortunate afflicted by poverty and natural disasters in the third world. We'd rather not add to the local politician's personal wealth though.

twointheeye

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