Bugsy Posted October 29, 2008 Share Posted October 29, 2008 Hedge-fund managersGood, I kinda hope it hurts.............. Link to comment Share on other sites More sharing options...
andyh4 Posted October 29, 2008 Share Posted October 29, 2008 Sadly it is not the managers that have lost money, it's their clients. People like your or my pension fund - I hope not, I fear so. But if it helps stop this silly and risky form of betting then all to the good. As I understood it hedging was originally set up to off-set risks taken with other investments, now it seems to have become a means in itself. Link to comment Share on other sites More sharing options...
AnOther Posted October 29, 2008 Share Posted October 29, 2008 If it's not their money let's hope it's their jobs at least [:-))]I though short selling had been banned anyway ? Link to comment Share on other sites More sharing options...
Dick Smith Posted October 29, 2008 Share Posted October 29, 2008 I was at the bank today. My investments for my retirement are now largely gone. And yet the CEOs get theirs and their bonuses... Link to comment Share on other sites More sharing options...
woolybanana Posted October 29, 2008 Share Posted October 29, 2008 I wonder what happened to those extra voluntary pensions they were selling teachers at one time. The Pru was one company that was selling hard. Link to comment Share on other sites More sharing options...
Dick Smith Posted October 29, 2008 Share Posted October 29, 2008 Worth almost nothing. I will get back less than I paid in. Link to comment Share on other sites More sharing options...
Bugsy Posted October 30, 2008 Author Share Posted October 30, 2008 Seriously, I find it difficult to comment on that Dick, you must be totally devastated.You could console yourself in the knowledge that J Woss is paid £16,000 a bloody day for his questionable offering to society...................There is something very wrong, I think. Link to comment Share on other sites More sharing options...
tegwini Posted October 31, 2008 Share Posted October 31, 2008 Quite right BB I never used to be so aware about the lack of fairness in society, but I am now. J Woss & his £16k per day should make all of us want to refuse to pay the enforced BBC TAX. If only ...As for pensions ... most of us have lost here Dick- awful to think that we have the state obliging, and expecting us to fund our own old age pensions. But how?? You're often better off relying on the state to fund your old age.RegardsTegwini Link to comment Share on other sites More sharing options...
Dick Smith Posted October 31, 2008 Share Posted October 31, 2008 Yes - we are well aware that we are better off than some. However, I get somewhat cross when my pension becomes someone else's profit taking. Link to comment Share on other sites More sharing options...
oscar Posted October 31, 2008 Share Posted October 31, 2008 We kept our endowment on our UK mortgage going when we moved to France and got rid of the mortgage because we thought that it would act as a pension. As things stand at the moment we will get £80K less than was originally suggested and at the moment we will get back a couple of grand more than we paid in, so would have been a lot better off just putting that money in the bank each month and earning minimal interest. It has another 4 years to run, by which time I doubt that we will even get that. However, if we cash it in now we get a LOT less than we paid in. They get you all ways.[:@] Link to comment Share on other sites More sharing options...
AnOther Posted October 31, 2008 Share Posted October 31, 2008 You do also have the option of making it 'paid up' which at least saves you potentially throwing another 4 years of good money after bad. The life assurance element would be lost if you did that so you should take professional advice before making any decisions.Just yesterday I received the annual statement for my principal pension pot with my current employer but that was as of April 08 and I dread to think what it's value is today, about 30% less I'm guessing. The only comfort I can derive is that my contributions have gone in net of 40% tax and that units being bought now at or near the bottom (I hope !) will bear reasonable fruit as the markets recover, which inevitably they will over time. The downside is that to realise any benefits from a recovery I will likely have to delay my retirement, or at least the drawing of a pension, which means living on and depleting savings. Between a rock and a hard place I think covers it [:'(]There was a piece in one of the papers on Wednesday saying that even some annuities might be at risk if the underlying funds collapsed. Now that is REALLY scary stuff for those living on them. I'd always though that annuities were 101% guaranteed but then I guess as ever the only two items which irrevocably fall into that category are death and taxes. Link to comment Share on other sites More sharing options...
Benjamin Posted October 31, 2008 Share Posted October 31, 2008 When it turns this bad don't you just wish you'd had all those exotic holidays; signed up for Sky's most expensive package including all the sport and films.The list goes on...bought the season ticket for Unitedgone to all the fine restaurants or down the pub every nightchanged the motor for the latest modelbought the flat screen plasmakept a girlfriend on the side [6]indulged in all those exciting but ever so expensive hobbies.Nah....instead we decided to be sensible and invest in pensions so we could live happily ever after.At least we're still here. [:D] Link to comment Share on other sites More sharing options...
AnOther Posted October 31, 2008 Share Posted October 31, 2008 [quote user="Benjamin"]When it turns this bad don't you just wish you'd had all those exotic holidays; signed up for Sky's most expensive package including all the sport and films.[/quote]Holidays not very often and just Sky basic, too many rubbish films and NFI in sport, especially footieThe list goes on...bought the season ticket for United - See abovegone to all the fine restaurants or down the pub every night - No, 'er indoors is a good cookchanged the motor for the latest model - Definately not, newest car we ever had is the current one which is 2003 and we've had for a yearbought the flat screen plasma - No, still got my ancient CRT bangerkept a girlfriend on the side [6] - No comment [6]indulged in all those exciting but ever so expensive hobbies - Kinda, I scuba dive but not every year.Nah....instead we decided to be sensible and invest in pensions so we could live happily ever after. - YepAt least we're still here. [:D] Yeah, at bl00dy work in my case, still trying to work out why I can't afford to retire tomorrow [:'(][blink] Link to comment Share on other sites More sharing options...
Théière Posted November 1, 2008 Share Posted November 1, 2008 [quote user="Dick Smith"]Yes - we are well aware that we are better off than some. However, I get somewhat cross when my pension becomes someone else's profit taking.[/quote]Dear Dick, your pension is someone's profit loss!Like a famous celebrity agent once said:It's a terrible job I have to give away 80% of what I earn.[Www] Link to comment Share on other sites More sharing options...
Théière Posted November 1, 2008 Share Posted November 1, 2008 [quote user="ErnieY"]You do also have the option of making it 'paid up' which at least saves you potentially throwing another 4 years of good money after bad. The life assurance element would be lost if you did that so you should take professional advice before making any decisions.[/quote]You should be ok, if the policy is made paid up, the fund will continue to pay for the insurance element but you may not take part in any bonus's (what bonus's I hear you say) however do check the policy wording or take advice.Work out the total of the remaining premiums to be paid and compare the current value to the projected value at maturity using the lowest projection to see if it is worth continuing and not just putting the money into a high interest/ISA account. Link to comment Share on other sites More sharing options...
Scooby Posted November 1, 2008 Share Posted November 1, 2008 Are you in a defined benefit scheme, Dick - being a teacher? Link to comment Share on other sites More sharing options...
Dick Smith Posted November 1, 2008 Share Posted November 1, 2008 [quote user="Benjamin"]When it turns this bad don't you just wish you'd had all those exotic holidays; signed up for Sky's most expensive package including all the sport and films.The list goes on...bought the season ticket for Unitedgone to all the fine restaurants or down the pub every nightchanged the motor for the latest modelbought the flat screen plasmakept a girlfriend on the side [6]indulged in all those exciting but ever so expensive hobbies.Nah....instead we decided to be sensible and invest in pensions so we could live happily ever after.At least we're still here. [:D][/quote]Exactly. I paid in £100+ a month for 15 years into AVCa - I get £579 a year back... No cash-in value. Link to comment Share on other sites More sharing options...
AnOther Posted November 1, 2008 Share Posted November 1, 2008 [quote user="teapot"]You should be ok, if the policy is made paid up, the fund will continue to pay for the insurance element but you may not take part in any bonus's (what bonus's I hear you say) however do check the policy wording or take advice.[/quote]You are quite right teapot, my error. The insurance continues with the monthly premium being taken from the fund until it becomes depleted or the policy matures.Heads or tails you lose, what a surprise [:'(] Link to comment Share on other sites More sharing options...
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