It's not rocket science but people need to understand that government has no idea what is happening to your contribution everyone needs to take responsibility for themselves and educate yourself do you want to be a valued invester or a speculative investor when you decide which one you are then get on and invest which is different to saving no one wants to do the hard work
@@EdDensda-wf1vf it is an unfounded Libities to the government what they should have done is segregate everyone's contubutions and they didn't they pooled everything
@@poc329 doesn't work like that..... The worse is ...... the pension gained at the time did not take into effect the influxion of today's living...... Long story short... The government..... have knowingly manipulated the situation to their own benefit. Your own your own now sweet pea... As they want it
I’m quite happy for the government to look into ex government employees including MP’s who retire at 55 on a final salary scheme. Why can’t they dip into this pot and let all them live on £12570 per annum like most pensioners. And, make these employees work until they’re 66 or 67 like the rest of us
Let me explain why. When you are in the public sector you have to pay in to a pension. Yes it was final salary, but you do pay in. The contributions are generally higher than what you pay in a private pension. You have signed up to a contract to retire at 65. My example is that they moved the retirement date back to 67. As I am in private sector now I can’t do anything to add to that pension. When they didn’t give pay rises that also meant the pension didn’t go up so was eroded significantly by inflation. 4 years of inflation eating away at it. Those 2 years that I won’t get amount to 24k being taken from me. From something that I have paid into. I don’t get a bigger pension per year because they are deferring it. It’s just theft. If they then combine all of the local government pensions and then misuse it we will see them not paying any pension at all.
Well said. I'm paying 14% towards my pension each month. Not many willing to join public sector due to this. Like you said, when we all were on a pay freeze for a number of years, nobody said anthing .
Steverick 4329 Yes on minimum wages too like many, many others, after all they have done a disastrous job and they still expect us to pay them big bucks for their failures on the, economy, the national debt, BREXIT, the migrant crisis, Ireland, COVID, WASPI women, the cost of living, OAP’s, winter fuel allowance, pensions, triple lock, child benefits cap, the squandering of our tax money, our armed forces , the migrant crisis, migrant accommodation costs, health costs, legal aid costs , translator costs, benefit costs,,migrant, child benefits etc, etc, etc-, border control, energy costs, water costs, pollution of our waterways and oceans, the damage to UK’s fishing waters, fishing industry, the loss of our iron, steel and motor industries, the curtailment of North Sea Oil and gas, grid lock, , substandard roads, transport, railways, TV license fees, crumbling schools, colleges and universities, overflowing prisons, millions of British pounds to France, millions./ billions to the Eu still, hundreds of thousands/millions to Rwanda, the loss of independence and attempt to remove our free choices and free speech, the NHS, the environment, housing, etc., etc, etc, the list just goes on and on and on …. It is hard to see how they could have possibly done a worse job had they been trying to do so on purpose imo. The British public should get a refund and compensation imo.
In the 1990s I sold pensions on the strenght that the tax free lump sum would pay off most if not all of the mortgage and leave the investor with a pension for life. Most were over a 40 year term plus, I was not alone.
The approach of selling pensions with the promise that a tax-free lump sum would pay off mortgages and provide a lifelong pension was common in the 1990s. However, many factors can affect the outcome, including changes in the housing market and interest rates. It's crucial for investors to seek personalized advice and consider diversified financial strategies to ensure long-term financial stability.
it's vital for investors to seek personalized advice and adopt diversified financial strategies. Working with a knowledgeable financial adviser is crucial for achieving long-term financial stability and freedom
I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I've experimented with a few over the past years, but I've stuck with ‘’Nicole Anastasia Plumlee” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
@@eyesopen1850 theory is if you have private pension that by the time you get state pension it becomes means tested, so need to wipe out the private pension before state pension age so they pay you what rightfully is yours.
Thank you for your honesty and transparency. It's refreshing to see someone acknowledging the harsh reality of rising prices, which are leaving many of us feeling battered and bruised.While I'm grateful to be in a position to absorb these costs, my heart goes out to those who are struggling to make ends meet and can't afford their basic necessities. I made $17k from my little invested $8k regardless of how bad it gets on the economy.
I lost over £11,000 when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said.
If government introduces means testing of the state pension, apart from being tantamount to theft, this will massively discourage people from saving into a personal pension.
I have paid in 40 years with 10 years to go,,, if they want to stop the state pension they should give say a 30 year old who has paid in since 18 give them 100000 to invest ….. then some who has paid in 40 years give them 400000 to invest .. somebody who has paid in 50 years give them 600000 to invest ,, the idea is anybody over 18 has to have reduce NS or cancel NS to pay private no state pension .but they cannot screw over people who have been told to pay Pay pay and state pension will be waiting for you then say no,,,,,,
Really concerned they will bring in means testing and say anyone with a private pension is 'too wealthy' for the state pension, even if they have paid in all the require NI over decades. There are too many freeloaders now.
I haven't forgotten how much Gordon Brown cost me when he ignored warnings about Equitable Life. I don't trust Starmer an inch further than I can throw him. Labour's mantra should be "You will be severely punished for being financially responsible".
These frequent tax code changes are disrupting my long-term investment strategies. Are there ways to structure my investments to be more resilient to potential tax code modifications for pensioners?
I honestly think America needs a completely restructure of their political system. It is just not working. Trump and Biden being elected out of 300 million people to run the country is evidence for that too.
This is why the US should elect more progressive politicians, who know how to manage budgets and give us (yes, pur country's initials literally spell out that pronoun) much better tax credits in return for better public education and better public healthcare. but since these are nonexistent, my husband and I are being guided to finance our retirement and healthcare through a diversified investment portfolio
@@williamDonaldson432 How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look her up and send her a message. You've truly motivated me. Thanks.
I've worked all my life and have the full 35 years of qualifying NI payments, for a full state pension. However, after building a healthy private pension pot. I now have 7 years before I retire and It looks like I potentially won't get any state pension, if means testing and other limiting policies are introduced. This effectively means I'll lose £12K+ a year, of my pension income. I probably won't be entitled to any other benefits or tax credits either and I'll pay tax on that pension. All because i thought I was doing the right thing. Therefore, from my point of view, you're better off spending more of your money now, rather than trying to have a comfortable life later, which you're penalised for. Have less, get more.
@dogkicker100 I've actually got 42 years, but i believe you only need 35 years of qualifying NI contributions, for the full state pension. Potentially all wasted contributions, depending on what is introduced, as part of cost cutting.
I feel exactly the same! If you don’t try and better yourself then you get the benefits. If you try and provide for your family by saving a bit extra then you are completely penalised. Is it any wonder we have so many people wanting to come to the UK and receive incredible benefits for doing nothing. Crazy world!!
@@Mudbath60 there was no commitment to keeping it but i take your point. I'd be very surprised if they do this, the reaction from the tens of millions who've always paid their NI with this expectation would be fatal for them.
@@KernowFishy Prior to the election, Rachel Reeves stated on camera, that they were committed to keeping to keeping the winter fuel allowance in place 🤔 and there would be no increase in wealth taxes 🤔. The budget in October will reveal the hideous truth. Strap in for a rough financial ride !!!
It’s our money we have paid in My husband passed away 3 years ago he paid in from the age of 17 until he dies at 60. Where has all his money gone. My family should have lest had some of his money. Where has it all gone discudting !!!!
Pensioners need to be assured that their pensions are safe. After all pensioners have to plan how they are going to manage in retirement. It’s extremely unfair of the Government to put this stress onto pensioners, it’s cruel.
People need to take responsibility for themselves later in life and I have news for you that we are going to see a banking bust soon and pension funds and insurance companies are going to fail as well the government didn't see this coming even when they did LDI crisis was easy to predict by looking at the yields I made a few pounds on that
@@eckie4679 I know what the next banking bust by design all you need to do is look at the balance sheets to see that they are in trouble with their bond and commercial building portfolios to see how made things are when you mark to market the assets that they hold until maturity to see how big their unrealized losses are here is a bank which is going to the sacrificial lamb just like Leahman brothers were in 2008 bank of America which is going bust and they'll be 1 ov many banks to go bust
Great video, I’m 40. retired a while at 39. I have 35% of my capital investments in an IRA. 25% in index funds, and the balance spread across other investments acts. In cumulative of over $5m. I receive income from my rental properties too. Zero debt and all is going accordingly.
Indeed, most people downplay the roles of financial advisors until they are burnt by their mistakes. Productivity is optimized and keeping up to date strategies and analysis makes it more lucrative. I’ve been able to navigate the volatilities and scaled up 80k to 20k with an advisor
An excellent and thought provoking piece Carl, thanks. I'm 63 and was extremely fortunate to have some fantastic mentors so have done the 'heavy lifting' but this is the sort of thing which really should be compulsory viewing in all secondary schools. We can dream.
I agree every secondary school should be teaching kid's about financial issues this guy is saying the same crap most people don't understand the difference between money and fiat currencies my 13 year old daughter knows exactly what the difference is Im advising my family to put fiat into silver their is a reason for this and no I'm not going too tell anyone what it is if they do the nessery work they will find out the answer
@@joeconnolly89if they means test my pension I will become the 2nd guy Fawkes. I have been hard up all my life to save for retirement and hopefully give my kids something when I die. I did not know oap is a benefit. W😮hat a ridiculous title. Is my occupationional pension a benefit NO. UTTER SCUM AND BETRAYAL
😅I'm retired,and recently received my new tax code,lowering my tax code,so my pension rise was halved,my wife literally retired in July and received her tax bill before shes even received her pension which she wont get until September. 92 years of working jointly,that's our thanks.
The way council tax is going up and standing charges on energy bills there goes that extra £11,000. Also, they want to put up the retirement age from 67 to 70, so HMRC shall be getting an extra 3 year's tax and NI contributions, do they think we are all idiots.
They raise the pension age to take more from us and hope you cark it not long after retirement, where they then keep all your pension pot. All a scam to continually rob us blind.
@@jamesplummer356 the evidence suggests that is not true. Look at the performance for growth of different govts since the war. Conservatives make the ordinary person poorer. Just a fact. However the very wealthy do gain under them.
Duh. There are millions of pensioners on state pension now. It is an entitlement not a benefit , as your individual NI were put in. More likely to add means tested state pension.
@@anthonydeakin3834 you’re only entitled to a full state pension if you’ve contributed 35 years of NI. If you die before 67, you get nothing. It’s not a pension pot
Oh my God, as an Australian observer, the archaic UK pension “system” is insanely, unnecessarily complex, and I suspect deliberately so. It’s almost as if it has been designed so that an endless train of middlemen can harvest hidden fees for decades and leave you with a pittance at retirement. Is this why London’s financial services industry is so profitable? It’s all your money, but add the word “pension” and it seems to become “their” money. Madness!
@tomonetruth hardly my personal greed. I've paid in for 50 years, got nothing out. Have every expectation of being fleeced for care, and, if that does not take 'enough' HMRC will expect 40% of much of what is left. There is no incentive for a youngster to 'budget responsibly'.
To all the youngsters reading the fools comments, if you start putting just £100 per month away at age 18 and increase that amount by 2.5% per year and manage to achieve an average 5% growth rate, when you reach state pension age at 68 you will have over £407,000.......and you will probably also have state pension on top of this......or maybe you could take brians advice
Thats a poor attitude to take that shows how much you don't understand they need to be tought how to manage fiat property and then show them how to save money for what they want to buy and then how to invest help them identify what kind of investor would they be valued or a speculative investor they are the only 2 choices on offer
@@tomonetruthwhat youngsters need is to be educated in everything financial not idiots telling them to piss it up against the wall help them to hopefully avoid the mistakes that you made
As means testing is likely coming in for the state pension for those with a private pensions or savings or both, you will not be eligible for a state pension even if you have paid NI so there's no incentive to take out a private pension or save unless your private pension is sufficiently adequate to support you in old age. The scrapping of winter fuel allowance is the first bow shot over our state pension.
@@LatinoAaron No but there will be benefits that will equal or be more than the state pension . That's only if you blow all your money or live on benefits. Hence why everybody is on benefits. That plan worked well, government.
Very good video!!! 🙏. I’m 41 and lucky enough to be well on the way with the SIPP global equity route, I worry for a lot of people that are completely blind on this stuff and are going to end up broke, also, most people don’t even understand the difference between state pension and private pensions..
I lost over $70k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Natalie Strayer.. .
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
U worked since 16 and contributed all my working life, even had to ait 6 years more, plus we are denied the compensation awarded to us, now they want to take frim the pension we earned
He is saying to invest more into you private pension pot? If you do that they will stop your penion credit and you will not qualify for any other benefits will you? they are also going to means test you and if you have too much in your account or any income from any other investment you made they are going to cut your state pension. If you have below a certain amount in the bank and no private pension you will get pension credit and all the other freebies that are available so you will be well off, so think about it.
We all paid into it. Same as paying into a private pension.. Well i took out a private on advice.. Paid heavily into it for over 25 years.. Then in the year of Maturity. it collapsed and ended up with £200 a month and i still pay Tax. So i carried on working until 65 where I RELY on the, OAP PENSION.
I get the full pension after working from 15 to 68 yo and a small army pension so I can't get pension credit. That doesn't mean I can afford to lose the winter payment for the simple reason that the energy companies have been allowed to rip us off for years now. If this government going to take the payment then the must return the fuel cap to where it was before we got that payment.
When they took over the Mine Workers Pension (that they didn’t pay into )they insisted on a 50/50 split and the changed the rules from it being non taxable to taxable. Why are children especially the poor not taught how to invest for their future, and how can they be sure that the Government won’t grab as much as they can at the end?
Did you know that pension providers take a fee no matter how well the fund has performed and if you adjust it inflation your cash equivalent is going to be even less than you would expect
Do people even know what they have invested in when they pay into a pension if you were asked to directly lend government your fiat if the answer is no then why would you put it in a pension fund which is obligated to buy government debt
@@danemsha all those who voted for this government voted for this and expected to see the banking bust by design which they'll tell you that they didn't see coming it's 2008 on steroids banks are insolvent no deals no loans and no deposits get ready for the cbdc tokenised slavery system you'll own nothing and be happy
@@albeyl3859 get ready for the banking bust by design the government will tell you that they never seen it coming and that it's a global problem which it will be bank of America is going to be the sacrificial lamb just like leahman brothers were in 2008 no media will ever tell you that your cash in the bank doesn't belong to you and when banks start failing that they can use your deposit to make themselves whole your a unsecured creditor to the bank my advice is to only keep enough cash In the bank to cover direct debits and mortgage payments any savings put it under the mattress or buy assets outside the system like the billionaires are doing look at what central banks around the world are doing and do the same
The problem is most people cannot understand the complexity of the ever changing pension schemes. So you rely on a financial advisor who I have always found only does what is best for their commission and are not bothered about your interest . If you try to take them on you find when they have feathered there nest you can not get anywhere because they have now changed there company name.
I'm laughing at all of you on here God help the next generation if they take notice of any of this pile of garbage governments owe you nothing if they change the rules thats what they will do if you had looked after yourself it would not be an issue
this all sounds great if you are in a secure staff role but not for contractors that potentially work one month then live on their wages and have to wait until the next job comes in which might take a further few months. this means they couldn't save 10% each month or even put any away for their future pension and then will rely on the state pension of sell assets such as downsizing their house.
Im a skilled engineer, worked 46 years, but iv been made redundant 3 times, and some off the jobs I did after 18yrs with the 1st company ,i only stayed say 6 months . So just small amounts. And over that time no one advised me, lukly ive saved, so i dont trust pension advisers, thay come and go. Plus different politiostions.
Everyone should take responsibility for their own provision I don't want government to tell me what to do with my earnings I'm old enough to decide what to do myself I certainly would never trust politicians who are experts at theifing
Well this is an eye-opener! I worked in the public sector up until 2000 with a final salary pension that becamse deferred. I've got 8 working years left and it will yeild a fairly decent lump sum payment and manageable monhtley pension payment. Post 2000, I moved into the private sector as a contractor but was unable to make AVCs to my public sector pension. I've accumulated several small pension pots but finally consolidated them into one main pot which I still make AVCs to when I'm working. Given Gordon Brown disaterous pension raid in 1997. Starmer's ideas are very concerning and I worry that all the effort of paying in AVCs will actually see me worse off.
As a teacher I’ve invested over 10% for my entire career. Everyone should HAVE to do this so they do t rely on the state to support them and pay rent for them when they’re older
I think what most people are concerned about is this new government are going to take our pensions away if we have other forms of income when we retire like other pensions ect. We have paid into the pension scheme and it’s / may be taken away.
My pensions (government and private) were paid for with blood, sweat and tears; the thieves are justifying their actions BUT my pension was never sold as a benefit when I started work.
As it stands right now, if someone has paid all the necessary NI contributions - are they entitled to recieve state pension if they move abroad? Same questions for SIPPs
Look after it yourself and save the admin costs decide if you are a valued investor or a speculative investor when you have figured it out then go for it its very tough and time consuming but it's well worth it
@@DarrenSmith-tq2xz Hi Darren. Agree with you, but most people will not do any of this and the admin costs are very significant over the investment period.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's true, not everyone has access to this kind of information. Lack of knowledge can definitely make people panic. But it's amazing that you've been able to make over $287k passively through investing with an advisor! Having a great wealth manager can really make a difference, regardless of how the economy is doing. Keep up the good work!
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an adviser, as this allows you make smarter investing decisions.
'Grace Adams Cook' , is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
great video people need to plan for the future i did not brilliant but i could manage a lot of people who depend on the state pension are in for a surprise they have taken the winter fuel allowance whats coming next
I’m in an nhs pension scheme the 2008 final salary scheme pays out when I’m 65 3 years from now the other 2015 scheme amalgamated over the last 3 years salary pays when I’m 67 , the mccloud stated we were wrongly moved into the 2015 schemes but putting that aside ..I want to take my lump sums will the new bill stop me doing this. .. I have paid in since 2008 when I started working for the NHS
Interesting content but unfortunately i cant afford to put myself through university to study stocks and shares trading or afford a couple of thousand pounds a year to speak to a financial advisor so i can set up my own pension schemes and quite frankly if the investment industry as you say is not setting up pensions in the best way already then what hope has an average joe bloggs?
Thank you Carl, what a great video. You are great financial educator. Did you know the PFS is looking for Educator Champions. If not let me know and I'll put you in touch with someone.
i had an old pension with guaranteed 11% bonus per year.another provider took over my pension and did away with my bonus as it deemed it unfair to newer investers.they do as they like and say feck you.
The Pension does not belong to the Government, it belongs to the person who contributes to it.
It's not rocket science but people need to understand that government has no idea what is happening to your contribution everyone needs to take responsibility for themselves and educate yourself do you want to be a valued invester or a speculative investor when you decide which one you are then get on and invest which is different to saving no one wants to do the hard work
It’s classed as a benefit
@@EdDensda-wf1vf it is an unfounded Libities to the government what they should have done is segregate everyone's contubutions and they didn't they pooled everything
@@EdDensda-wf1vfnot a private pension, nothing to do with government
@@EdDensda-wf1vfwhich is preposterous after you have contributed to the pot for 40 odd years.
I paid into my Pension. So I want it back.
@@poc329 doesn't work like that.....
The worse is ...... the pension gained at the time did not take into effect the influxion of today's living......
Long story short... The government..... have knowingly manipulated the situation to their own benefit.
Your own your own now sweet pea... As they want it
i'm sick and tired of Politicians interfering with our Pensions.
My retirement strategy is get out of the U.K. as soon as you can
Same advice from me to my family, I just want to know that they are ok. That won’t happen here, future looks grim
Absolutely the same plan for me.
Same. I'm only here to accumulate and I'm British. Sod living here when I'm old!
But to where? (I'm genuinely interested)
The whole of the Western world seems to be going in same direction.
I'd consider it if I knew where to.
@@se3059 originally Europe but I am looking further afield now
I’m quite happy for the government to look into ex government employees including MP’s who retire at 55 on a final salary scheme. Why can’t they dip into this pot and let all them live on £12570 per annum like most pensioners. And, make these employees work until they’re 66 or 67 like the rest of us
Let me explain why. When you are in the public sector you have to pay in to a pension. Yes it was final salary, but you do pay in. The contributions are generally higher than what you pay in a private pension. You have signed up to a contract to retire at 65. My example is that they moved the retirement date back to 67. As I am in private sector now I can’t do anything to add to that pension. When they didn’t give pay rises that also meant the pension didn’t go up so was eroded significantly by inflation. 4 years of inflation eating away at it.
Those 2 years that I won’t get amount to 24k being taken from me. From something that I have paid into. I don’t get a bigger pension per year because they are deferring it. It’s just theft. If they then combine all of the local government pensions and then misuse it we will see them not paying any pension at all.
Well said. I'm paying 14% towards my pension each month. Not many willing to join public sector due to this. Like you said, when we all were on a pay freeze for a number of years, nobody said anthing .
Gold plated public pensions are sustainable the Civil servants tell us but it's the lowest pension in the western world that's the problem.
Steverick 4329 Yes on minimum wages too like many, many others, after all they have done a disastrous job and they still expect us to pay them big bucks for their failures on the, economy, the national debt, BREXIT, the migrant crisis, Ireland, COVID, WASPI women, the cost of living, OAP’s, winter fuel allowance, pensions, triple lock, child benefits cap, the squandering of our tax money, our armed forces , the migrant crisis, migrant accommodation costs, health costs, legal aid costs , translator costs, benefit costs,,migrant, child benefits etc, etc, etc-, border control, energy costs, water costs, pollution of our waterways and oceans, the damage to UK’s fishing waters, fishing industry, the loss of our iron, steel and motor industries, the curtailment of North Sea Oil and gas, grid lock, , substandard roads, transport, railways, TV license fees, crumbling schools, colleges and universities, overflowing prisons, millions of British pounds to France, millions./ billions to the Eu still, hundreds of thousands/millions to Rwanda, the loss of independence and attempt to remove our free choices and free speech, the NHS, the environment, housing, etc., etc, etc, the list just goes on and on and on …. It is hard to see how they could have possibly done a worse job had they been trying to do so on purpose imo. The British public should get a refund and compensation imo.
In the 1990s I sold pensions on the strenght that the tax free lump sum would pay off most if not all of the mortgage and leave the investor with a pension for life. Most were over a 40 year term plus, I was not alone.
The approach of selling pensions with the promise that a tax-free lump sum would pay off mortgages and provide a lifelong pension was common in the 1990s. However, many factors can affect the outcome, including changes in the housing market and interest rates. It's crucial for investors to seek personalized advice and consider diversified financial strategies to ensure long-term financial stability.
it's vital for investors to seek personalized advice and adopt diversified financial strategies. Working with a knowledgeable financial adviser is crucial for achieving long-term financial stability and freedom
I'm intrigued by this. I've searched for financial advisers online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I've experimented with a few over the past years, but I've stuck with ‘’Nicole Anastasia Plumlee” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info
The government's plans can be summed up briefly as 'Take it and spend it'.
*waste it
Taking it from the people who can least afford to lose it.
@@eyesopen1850 how do you know that?
@@eyesopen1850 theory is if you have private pension that by the time you get state pension it becomes means tested, so need to wipe out the private pension before state pension age so they pay you what rightfully is yours.
Then blame the people and the previous administration for having to do it!
Allowing career politicians with a history of scandal, failure & who pay no price for being wrong to meddle with your pensions. What could go wrong 🤤
The hole system needs resetting with culpability for people in charge, for reckless decisions
Ask Gordon Brown, he has the answer you seek.
@@notgettingdata Whole
Thank you for your honesty and transparency. It's refreshing to see someone acknowledging the harsh reality of rising prices, which are leaving many of us feeling battered and bruised.While I'm grateful to be in a position to absorb these costs, my heart goes out to those who are struggling to make ends meet and can't afford their basic necessities. I made $17k from my little invested $8k regardless of how bad it gets on the economy.
Recession are unavailable part of the economic cycle, all you can do is prepared for them and plan accordingly
I lost over £11,000 when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said.
I've actually been looking into mentors lately, the news I've been seeing in the market hasn't been so encouraging. who's the person guiding you?
she's mostly on Telegrams, using the user name
Roxanne Emmett
Who on earth voted for these dangerous clowns? I certainly didn't - and worse - neither did most of the voters!
only 20% ...and Angela Rayner had to beg for those ...
If government introduces means testing of the state pension, apart from being tantamount to theft, this will massively discourage people from saving into a personal pension.
Or working.
I have paid in 40 years with 10 years to go,,, if they want to stop the state pension they should give say a 30 year old who has paid in since 18 give them 100000 to invest ….. then some who has paid in 40 years give them 400000 to invest .. somebody who has paid in 50 years give them 600000 to invest ,, the idea is anybody over 18 has to have reduce NS or cancel NS to pay private no state pension .but they cannot screw over people who have been told to pay Pay pay and state pension will be waiting for you then say no,,,,,,
The government doesn't know what austerity means, so they steal from the people who do.
Despicable immoral behaviour.
The government doesn't know what austerity means, so they steal from the people who do.
Despicable immoral behaviour.
UBI obey comply.
Really concerned they will bring in means testing and say anyone with a private pension is 'too wealthy' for the state pension, even if they have paid in all the require NI over decades.
There are too many freeloaders now.
That is a fact so lookout folks.
I haven't forgotten how much Gordon Brown cost me when he ignored warnings about Equitable Life. I don't trust Starmer an inch further than I can throw him. Labour's mantra should be "You will be severely punished for being financially responsible".
Another Equitable Life victim here ! Absolutely scandalous
@@joeleman2250 A government backed guarantee isn't worth the paper it's written on ☹.
Me too,
I bet you voted for Brexit too didn't you?
What did you feel about Lamont and Truss?
These frequent tax code changes are disrupting my long-term investment strategies. Are there ways to structure my investments to be more resilient to potential tax code modifications for pensioners?
I honestly think America needs a completely restructure of their political system. It is just not working. Trump and Biden being elected out of 300 million people to run the country is evidence for that too.
This is why the US should elect more progressive politicians, who know how to manage budgets and give us (yes, pur country's initials literally spell out that pronoun) much better tax credits in return for better public education and better public healthcare. but since these are nonexistent, my husband and I are being guided to finance our retirement and healthcare through a diversified investment portfolio
@@williamDonaldson432 How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Annette Marie Holt is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look her up and send her a message. You've truly motivated me. Thanks.
I've worked all my life and have the full 35 years of qualifying NI payments, for a full state pension. However, after building a healthy private pension pot. I now have 7 years before I retire and It looks like I potentially won't get any state pension, if means testing and other limiting policies are introduced. This effectively means I'll lose £12K+ a year, of my pension income. I probably won't be entitled to any other benefits or tax credits either and I'll pay tax on that pension. All because i thought I was doing the right thing. Therefore, from my point of view, you're better off spending more of your money now, rather than trying to have a comfortable life later, which you're penalised for. Have less, get more.
@dogkicker100 I've actually got 42 years, but i believe you only need 35 years of qualifying NI contributions, for the full state pension. Potentially all wasted contributions, depending on what is introduced, as part of cost cutting.
I feel exactly the same! If you don’t try and better yourself then you get the benefits. If you try and provide for your family by saving a bit extra then you are completely penalised. Is it any wonder we have so many people wanting to come to the UK and receive incredible benefits for doing nothing. Crazy world!!
There's been no reference to means testing the state pension? you should still get it.
@@Mudbath60 there was no commitment to keeping it but i take your point. I'd be very surprised if they do this, the reaction from the tens of millions who've always paid their NI with this expectation would be fatal for them.
@@KernowFishy Prior to the election, Rachel Reeves stated on camera, that they were committed to keeping to keeping the winter fuel allowance in place 🤔 and there would be no increase in wealth taxes 🤔. The budget in October will reveal the hideous truth. Strap in for a rough financial ride !!!
It’s our money we have paid in My husband passed away 3 years ago he paid in from the age of 17 until he dies at 60. Where has all his money gone. My family should have lest had some of his money. Where has it all gone discudting !!!!
I’m an ex miner they’ve already taken billions out of our pension over the yrs and keep doing so to this day
They are coming for pensioners.
Old Cyclops Brown has unfinished business.
Again!
The future pensioners need to understand and take the time to look after their own cash
What about "the invaders"? Zero contributors
It is NOT A STATE BENEFIT IT WAS EARNED BY HARD WORKING PEOPLE THIS IS DISGRACEFUL!
The video wasn't about the State pension.
Pensioners need to be assured that their pensions are safe. After all pensioners have to plan how they are going to manage in retirement. It’s extremely unfair of the Government to put this stress onto pensioners, it’s cruel.
People need to take responsibility for themselves later in life and I have news for you that we are going to see a banking bust soon and pension funds and insurance companies are going to fail as well the government didn't see this coming even when they did LDI crisis was easy to predict by looking at the yields I made a few pounds on that
@@eckie4679 I know what the next banking bust by design all you need to do is look at the balance sheets to see that they are in trouble with their bond and commercial building portfolios to see how made things are when you mark to market the assets that they hold until maturity to see how big their unrealized losses are here is a bank which is going to the sacrificial lamb just like Leahman brothers were in 2008 bank of America which is going bust and they'll be 1 ov many banks to go bust
When yu become a pensioner's become a nobody in this country I know I'm 82
So their going to EMBEZZLE OUR PENSIONS
Have been, not going to!
Great video, I’m 40. retired a while at 39. I have 35% of my capital investments in an IRA. 25% in index funds, and the balance spread across other investments acts. In cumulative of over $5m. I receive income from my rental properties too. Zero debt and all is going accordingly.
Indeed, most people downplay the roles of financial advisors until they are burnt by their mistakes. Productivity is optimized and keeping up to date strategies and analysis makes it more lucrative. I’ve been able to navigate the volatilities and scaled up 80k to 20k with an advisor
Honestly this cannot be over emphasized, helping people mitigate unforeseen circumstances and mistakes, it’s always good to have a financial plan
Excuse me brother how do you guys do this?
Consider getting a CFA to be able to get better plans and update on the issues of pension
You can do a Google search on AARON MORGAN BELL and send a mail for some assistance
Liebour is ok until they run out of other people’s money.
The government need to take their grubby mits of our pensions
Be out of this hell hole in February ,refuse to waste anymore life here.
Good luck chap we left in 2018 👍👍🏴🦊
Yep. All the best. Wish I could get out 😢
@@Killergoat69 Thanks you can do it were in Spain not all roses it's quite hard but better off here 👍🏴🦊
Where did you decide on?
@@MaxCherry4170 6000 miles east, spend most of the yr there already
So much taken, from so many, and spent on something so utterly useless as net zero.
And hs2
Thank you❤
@@bryanbufton4358 Another government plan for which the costs get out of control and the tax payer has to pay up.
An excellent and thought provoking piece Carl, thanks. I'm 63 and was extremely fortunate to have some fantastic mentors so have done the 'heavy lifting' but this is the sort of thing which really should be compulsory viewing in all secondary schools. We can dream.
Thanks for the feedback Richard. Much appreciated.
he has a very poor understanding of the bank of England for sure
I agree every secondary school should be teaching kid's about financial issues this guy is saying the same crap most people don't understand the difference between money and fiat currencies my 13 year old daughter knows exactly what the difference is Im advising my family to put fiat into silver their is a reason for this and no I'm not going too tell anyone what it is if they do the nessery work they will find out the answer
@@joeconnolly89if they means test my pension I will become the 2nd guy Fawkes. I have been hard up all my life to save for retirement and hopefully give my kids something when I die. I did not know oap is a benefit. W😮hat a ridiculous title. Is my occupationional pension a benefit NO. UTTER SCUM AND BETRAYAL
Perhaps we should introduce means testing of the government? The amount they waste and give away is staggering.
😅I'm retired,and recently received my new tax code,lowering my tax code,so my pension rise was halved,my wife literally retired in July and received her tax bill before shes even received her pension which she wont get until September. 92 years of working jointly,that's our thanks.
The way council tax is going up and standing charges on energy bills there goes that extra £11,000. Also, they want to put up the retirement age from 67 to 70, so HMRC shall be getting an extra 3 year's tax and NI contributions, do they think we are all idiots.
Well about 9million are. They voted these clowns in.
@@davideyres955
Did they ?
They raise the pension age to take more from us and hope you cark it not long after retirement, where they then keep all your pension pot.
All a scam to continually rob us blind.
Were not all idiots only the ones who elected this shower
Ll this is worse
Labour will be voted out 👍
yes sadly in 4 years time !
Probably not, the same people dumb enough to vote them in this time will vote for them next time.
@@UKGeezerso you would have rather had another 5 years of Tory robbing bastards?
Labour will do what they always do impoverish you
GDP is down 18% and taxes are up 33% since 2010, both inflation adjusted. Tory austerity has impoverished everyone.
@@jack504 because of Liebour
@@jamesplummer356 the evidence suggests that is not true. Look at the performance for growth of different govts since the war. Conservatives make the ordinary person poorer. Just a fact. However the very wealthy do gain under them.
Ha ha ha !!! Have you been living under a rock for the last 14 years of tory austerity mismanagement and thievery ! Jog on ya melt !!!
The last time wages were above inflation was when Labour were in power. Go figure.
This all looks like (to me) the start to the phasing out of the state pension.
Duh. There are millions of pensioners on state pension now. It is an entitlement not a benefit , as your individual NI were put in. More likely to add means tested state pension.
@@ab36935 totally incorrect. Your NI paid for the pensions at the time, you don’t have a state pension pot you’ve accrued
@@RogerRamjet-t4qbut by the mere fact you have contributed you are entitled to the same as what you have been paying for for 40 years.
@@anthonydeakin3834 you’re only entitled to a full state pension if you’ve contributed 35 years of NI. If you die before 67, you get nothing. It’s not a pension pot
@@RogerRamjet-t4q ok, whatever you say 😂😂
Oh my God, as an Australian observer, the archaic UK pension “system” is insanely, unnecessarily complex, and I suspect deliberately so. It’s almost as if it has been designed so that an endless train of middlemen can harvest hidden fees for decades and leave you with a pittance at retirement. Is this why London’s financial services industry is so profitable? It’s all your money, but add the word “pension” and it seems to become “their” money. Madness!
Not sure what you mean. I was under the impression that the Australian system was more complicated. Which hidden fees are you talking about?
I agree with you. They make everything like taxes and pensions very complex. Just so that the general public are kept in the dark.
@@albeyl3859 100% . Government are sneaky as ....
The state pension is not a benefit it is a right as we have paid into it during our lives
It doesn't matter weather lab or con are in ......the money is gone
Simple 😮! You pay for it and they steal it.
I cashed my pension in early as I was warned pensions were going to collapse. I bought gold which has now doubled in price.
If it's means tested all your assets will be investigated by these thieves
Encouraging/coercing people to save enough in a pension fund to take them above a means tested level to withdraw the state pension.
100% there plan.
In other words they want our money to spend on inefficient things, what a total con, Government will always be the worst way to invest in your future
Such as CC.
Labour has betrayed the hard working OAP
Really??? How exactly??
🤦😈@@laurenceteague4099
@@laurenceteague4099 Do you live on planet Earth ?
Then when you retire the government will tax you.
A pension is income, anything above the personal allowance is taxed at your marginal rate
My advice for any youngster. Piss it away as you get it. If nothing else you will get your old folks care free.
Awful advice, based on your personal greed and resentments, rather than what will actually benefit those youngsters.
@tomonetruth hardly my personal greed. I've paid in for 50 years, got nothing out. Have every expectation of being fleeced for care, and, if that does not take 'enough' HMRC will expect 40% of much of what is left. There is no incentive for a youngster to 'budget responsibly'.
To all the youngsters reading the fools comments, if you start putting just £100 per month away at age 18 and increase that amount by 2.5% per year and manage to achieve an average 5% growth rate, when you reach state pension age at 68 you will have over £407,000.......and you will probably also have state pension on top of this......or maybe you could take brians advice
Thats a poor attitude to take that shows how much you don't understand they need to be tought how to manage fiat property and then show them how to save money for what they want to buy and then how to invest help them identify what kind of investor would they be valued or a speculative investor they are the only 2 choices on offer
@@tomonetruthwhat youngsters need is to be educated in everything financial not idiots telling them to piss it up against the wall help them to hopefully avoid the mistakes that you made
Excellent words of wisdom IMO
As means testing is likely coming in for the state pension for those with a private pensions or savings or both, you will not be eligible for a state pension even if you have paid NI so there's no incentive to take out a private pension or save unless your private pension is sufficiently adequate to support you in old age.
The scrapping of winter fuel allowance is the first bow shot over our state pension.
I think you'll find the incentive to save is that there will be no state pension in about 15-20 years.
@@LatinoAaronI hope you're wrong because I'm supposed to be getting my state pension in 13 years!
@@LatinoAaron No but there will be benefits that will equal or be more than the state pension . That's only if you blow all your money or live on benefits. Hence why everybody is on benefits. That plan worked well, government.
Private Pensions are the trojan horse to steal your state pension .
Watch everyone stop putting into a private pension with their own money overnight.
Very good video!!! 🙏. I’m 41 and lucky enough to be well on the way with the SIPP global equity route, I worry for a lot of people that are completely blind on this stuff and are going to end up broke, also, most people don’t even understand the difference between state pension and private pensions..
I hope you have some gold and silver if you haven't then you are going to be 1 of them who goes broke
I lost over $70k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Natalie Strayer.. .
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
The very first time we tried, we invested $2000 and after a week, we received $9500. That really helped us a lot to pay up our bills.
You trade with Katherine Storch too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much.
Labour's plans:
ALL YOUR PENSIONS BELONG TO US
U worked since 16 and contributed all my working life, even had to ait 6 years more, plus we are denied the compensation awarded to us, now they want to take frim the pension we earned
I’ll keep my in a tin box at the bottom of my garden
He is saying to invest more into you private pension pot? If you do that they will stop your penion credit and you will not qualify for any other benefits will you? they are also going to means test you and if you have too much in your account or any income from any other investment you made they are going to cut your state pension. If you have below a certain amount in the bank and no private pension you will get pension credit and all the other freebies that are available so you will be well off, so think about it.
We all paid into it. Same as paying into a private pension.. Well i took out a private on advice.. Paid heavily into it for over 25 years.. Then in the year of Maturity. it collapsed and ended up with £200 a month and i still pay Tax. So i carried on working until 65 where I RELY on the, OAP PENSION.
I`m taking the hit and cashing the whole lot in.....AND BUYING GOLD
I get the full pension after working from 15 to 68 yo and a small army pension so I can't get pension credit. That doesn't mean I can afford to lose the winter payment for the simple reason that the energy companies have been allowed to rip us off for years now. If this government going to take the payment then the must return the fuel cap to where it was before we got that payment.
My situation mirrors yours and I think millions more
What 'Winter payment'?
When they took over the Mine Workers Pension (that they didn’t pay into )they insisted on a 50/50 split and the changed the rules from it being non taxable to taxable. Why are children especially the poor not taught how to invest for their future, and how can they be sure that the Government won’t grab as much as they can at the end?
They have absolutely no right whatsoever to means test state pension.Talk about a party that only wants one term in office.
Did you know that pension providers take a fee no matter how well the fund has performed and if you adjust it inflation your cash equivalent is going to be even less than you would expect
Do people even know what they have invested in when they pay into a pension if you were asked to directly lend government your fiat if the answer is no then why would you put it in a pension fund which is obligated to buy government debt
@@danemsha all those who voted for this government voted for this and expected to see the banking bust by design which they'll tell you that they didn't see coming it's 2008 on steroids banks are insolvent no deals no loans and no deposits get ready for the cbdc tokenised slavery system you'll own nothing and be happy
@@albeyl3859 get ready for the banking bust by design the government will tell you that they never seen it coming and that it's a global problem which it will be bank of America is going to be the sacrificial lamb just like leahman brothers were in 2008 no media will ever tell you that your cash in the bank doesn't belong to you and when banks start failing that they can use your deposit to make themselves whole your a unsecured creditor to the bank my advice is to only keep enough cash In the bank to cover direct debits and mortgage payments any savings put it under the mattress or buy assets outside the system like the billionaires are doing look at what central banks around the world are doing and do the same
lets hope so.
I guess im "lucky" i just became state pension and took out my works pension 25% years ago.So i just get by on my small workpension and state pension.
Same here 😂😂😂😂😂hahaha spent the money somewhere else 😅
The problem is most people cannot understand the complexity of the ever changing pension schemes. So you rely on a financial advisor who I have always found only does what is best for their commission and are not bothered about your interest . If you try to take them on you find when they have feathered there nest you can not get anywhere because they have now changed there company name.
Know Labour, they will direct investment into laudable progressive projects, which won't produce the best returns.
You got it....watch out for their "Sovereign wealth fund".....where are the assets for it coming from? Watch out for a massive theft.
I'm laughing at all of you on here God help the next generation if they take notice of any of this pile of garbage governments owe you nothing if they change the rules thats what they will do if you had looked after yourself it would not be an issue
Will these new "laws" , like freedom of speech and taxing pensions , apply to MPs when they lose their seats?
Always said we will be.the ones leaving this country
You’d be much better off saving in a tin under your bed.
Why is this advert talking about last year, this government is taking away the winter payment? Maybe we still get the £10 Christmas bonus 🤣
Politicians shouldn’t receive anything other than the SSP!
And inheritance is for ones children
this all sounds great if you are in a secure staff role but not for contractors that potentially work one month then live on their wages and have to wait until the next job comes in which might take a further few months. this means they couldn't save 10% each month or even put any away for their future pension and then will rely on the state pension of sell assets such as downsizing their house.
Harmer and Grieves, will cause harm and grief.
Im a skilled engineer, worked 46 years, but iv been made redundant 3 times, and some off the jobs
I did after 18yrs with the 1st company ,i only stayed say 6 months . So just small amounts.
And over that time no one advised me, lukly ive saved, so i dont trust pension advisers, thay come and go. Plus different politiostions.
I wish I earned £34,963 don’t even receive 1/2 that so my question is what’s the point paying into any pension
Who earns this money that live in dream land
Drawdown, drawdown, drawdown, they're not having mine 😉 ✌🏻✌🏼✌🏽 🇬🇧
The Labouring party means you're not getting one
Everyone should take responsibility for their own provision I don't want government to tell me what to do with my earnings I'm old enough to decide what to do myself I certainly would never trust politicians who are experts at theifing
@@DarrenSmith-tq2xz we do , it's called paying taxes for 40 or 50 years . That provides a pension in every civilised country .
PM not PAYING tax on his pension he had a law past
why bother with a private pension it’s not worth it
Do not take a private pension, but invest in other areas to save for retirement.
Doesn't matter what your pension is the government will tax you ,the bigger the pension the bigger the tax burden
Well this is an eye-opener! I worked in the public sector up until 2000 with a final salary pension that becamse deferred. I've got 8 working years left and it will yeild a fairly decent lump sum payment and manageable monhtley pension payment. Post 2000, I moved into the private sector as a contractor but was unable to make AVCs to my public sector pension. I've accumulated several small pension pots but finally consolidated them into one main pot which I still make AVCs to when I'm working. Given Gordon Brown disaterous pension raid in 1997. Starmer's ideas are very concerning and I worry that all the effort of paying in AVCs will actually see me worse off.
As a teacher I’ve invested over 10% for my entire career. Everyone should HAVE to do this so they do t rely on the state to support them and pay rent for them when they’re older
I think what most people are concerned about is this new government are going to take our pensions away if we have other forms of income when we retire like other pensions ect. We have paid into the pension scheme and it’s / may be taken away.
My pensions (government and private) were paid for with blood, sweat and tears; the thieves are justifying their actions BUT my pension was never sold as a benefit when I started work.
Very informative. How do i sign up for your emailed monthly newsletter?
As it stands right now, if someone has paid all the necessary NI contributions - are they entitled to recieve state pension if they move abroad?
Same questions for SIPPs
If I was king, I would tell them to do one, he can refuse
It is focussing on the costs of managing the pensions and investments. In other words the admin overhead.
Look after it yourself and save the admin costs decide if you are a valued investor or a speculative investor when you have figured it out then go for it its very tough and time consuming but it's well worth it
@@DarrenSmith-tq2xz Hi Darren. Agree with you, but most people will not do any of this and the admin costs are very significant over the investment period.
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's true, not everyone has access to this kind of information. Lack of knowledge can definitely make people panic. But it's amazing that you've been able to make over $287k passively through investing with an advisor! Having a great wealth manager can really make a difference, regardless of how the economy is doing. Keep up the good work!
At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an adviser, as this allows you make smarter investing decisions.
Can you recommend any? I am in need of a Cfp to grow my retirement account.
'Grace Adams Cook' , is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
great video people need to plan for the future i did not brilliant but i could manage a lot of people who depend on the state pension are in for a surprise they have taken the winter fuel allowance whats coming next
I’m in an nhs pension scheme the 2008 final salary scheme pays out when I’m 65 3 years from now the other 2015 scheme amalgamated over the last 3 years salary pays when I’m 67 , the mccloud stated we were wrongly moved into the 2015 schemes but putting that aside ..I want to take my lump sums will the new bill stop me doing this. .. I have paid in since 2008 when I started working for the NHS
Investments can go down as well as up.
So the Govt cancels infrastructure projects and now wants the pension industry to fund them instead.
What about civil service pensions?
£8 million a day for fake holiday makers but takes the heating allowance from tax paying pensioners.
@@eckie4679 no,its all part of gov theft.
£11,000 more in their pension pot is more for them to take.
Roll on the next election
And for those unable to save towards pensions ?
has the pensions,, been changed,, all toghether,, now,,😊
one issue.
Liz truss did not crash the gilt market.
BOE are to blame for 75% of the issues causing the crash.
Interesting content but unfortunately i cant afford to put myself through university to study stocks and shares trading or afford a couple of thousand pounds a year to speak to a financial advisor so i can set up my own pension schemes and quite frankly if the investment industry as you say is not setting up pensions in the best way already then what hope has an average joe bloggs?
the government plans to take your pension to give to charles to pay for his new £40 million a year pay rise
Hello sir pension is most important ❤
Thank you Carl, what a great video. You are great financial educator. Did you know the PFS is looking for Educator Champions. If not let me know and I'll put you in touch with someone.
i had an old pension with guaranteed 11% bonus per year.another provider took over my pension and did away with my bonus as it deemed it unfair to newer investers.they do as they like and say feck you.