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Post by Leolian'sBro on Dec 8, 2022 18:11:31 GMT
So it seems the banks have greased enough Tory palms again to have another go at gambling with the entire British economy. This will definitely go well. UK banking rules face biggest shake-up in more than 30 years www.bbc.co.uk/news/business-63905505 |
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sport✅
Junior Member
notice me senpai
I want to claim my tits
Posts: 2,316
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Post by sport✅ on Dec 8, 2022 18:15:41 GMT
Take that Juncker!!!
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dogbot
Full Member
Posts: 8,738
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Post by dogbot on Dec 8, 2022 19:05:00 GMT
Fifty quid says double figures of Tories get filthy rich(er) off the back of this.
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geefe
Full Member
Short for Zangief
Posts: 8,323
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Post by geefe on Dec 8, 2022 19:13:30 GMT
Yeah, they 100% know they're losing the election so they're just trying to grift as much money as they can before they collapse.
At least Thatcher did it "for the good"
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Post by Saul1138 on Dec 9, 2022 0:37:20 GMT
Those bonus caps being loosened, it is my pension investment that they’re taking the cream off; isn’t it?
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Post by Leolian'sBro on Dec 9, 2022 2:03:11 GMT
Honestly, if you’re under 40 there won’t be a state pension for you. It was an open secret back when I was in banking, and that was 5 years ago. There aren’t enough working age people to pay for all the retired ones already.
This isn’t something that WILL happen. It already HAS, we’re just waiting on the fallout.
Edit: I did not read your post properly. Yes, they are being incentivised to take more risks with your retirement pot.
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geefe
Full Member
Short for Zangief
Posts: 8,323
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Post by geefe on Dec 9, 2022 8:17:50 GMT
Honestly, if you’re under 40 there won’t be a state pension for you. It was an open secret back when I was in banking, and that was 5 years ago. There aren’t enough working age people to pay for all the retired ones already. This isn’t something that WILL happen. It already HAS, we’re just waiting on the fallout. Edit: I did not read your post properly. Yes, they are being incentivised to take more risks with your retirement pot. As someone under 40, who will likely have a reasonable inheritance and be mortgage free by around 50. What would you suggest? |
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askew
Full Member
Posts: 6,803
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Post by askew on Dec 9, 2022 8:56:00 GMT
Get rich or die trying
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Post by jeepers on Dec 9, 2022 9:04:08 GMT
Honestly, if you’re under 40 there won’t be a state pension for you. It was an open secret back when I was in banking, and that was 5 years ago. There aren’t enough working age people to pay for all the retired ones already. This isn’t something that WILL happen. It already HAS, we’re just waiting on the fallout. Edit: I did not read your post properly. Yes, they are being incentivised to take more risks with your retirement pot. As someone under 40, who will likely have a reasonable inheritance and be mortgage free by around 50. What would you suggest? Google. |
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dmukgr
Junior Member
Posts: 1,517
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Post by dmukgr on Dec 9, 2022 9:24:57 GMT
Honestly, if you’re under 40 there won’t be a state pension for you. It was an open secret back when I was in banking, and that was 5 years ago. There aren’t enough working age people to pay for all the retired ones already. This isn’t something that WILL happen. It already HAS, we’re just waiting on the fallout. Edit: I did not read your post properly. Yes, they are being incentivised to take more risks with your retirement pot. As someone under 40, who will likely have a reasonable inheritance and be mortgage free by around 50. What would you suggest? Overpay into a pension to lessen how much tax you pay. |
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gray
New Member
Posts: 438
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Post by gray on Dec 9, 2022 9:26:46 GMT
Put it all in Bongo coin.
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on Dec 9, 2022 9:27:26 GMT
Honestly, if you’re under 40 there won’t be a state pension for you. It was an open secret back when I was in banking, and that was 5 years ago. There aren’t enough working age people to pay for all the retired ones already. This isn’t something that WILL happen. It already HAS, we’re just waiting on the fallout. Edit: I did not read your post properly. Yes, they are being incentivised to take more risks with your retirement pot. As someone under 40, who will likely have a reasonable inheritance and be mortgage free by around 50. What would you suggest? Kill everyone else the same age as you. |
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Post by Leolian'sBro on Dec 9, 2022 11:54:23 GMT
As someone under 40, who will likely have a reasonable inheritance and be mortgage free by around 50. What would you suggest? Overpay into a pension to lessen how much tax you pay. Caveat caveat I am not a financial advisor this is not financial advice I’ve never even been to Belize, but this. Paying into a pension pot with your employer is still wildly tax efficient and the best use of your money in the long term compared to almost anything else. The problem is that by the time you retire *something* will have happened and the system will have reached breaking point. What that looks like is anybody’s guess. Anything from Victorian poor houses to Logan’s Run. The good news is that, being middle class, it’ll happen to poorer people first, you’ll see what the Govt does and you can plan accordingly. The bad news is that the Govt might do nothing, and then it’s just you and what you’ve saved. Becoming debt-free as soon as possible is also a very good idea, for obvious reasons. |
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Post by quadfather on Dec 9, 2022 11:59:55 GMT
Hahaha, it's brilliant. I spend 32 years constantly grafting, my family dies around me, I nearly pay off my house, have got 4 pensions, and it was the only thing that I could plan with. And now they're fucking about with that.
What's the fucking point
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Post by drhickman1983 on Dec 9, 2022 12:02:37 GMT
I'm just going to wing it.
It's increasingly unlikely I'll be getting a mortgage anytime soon, and pension is going to be crap. Might just take it all as cash, live reasonably comfortably for a year or so then quietly ...dissappear.
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Post by Leolian'sBro on Dec 9, 2022 12:04:27 GMT
Not even like you can find a cheaper life in Spain any more, either.
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Post by Resident Knievel on Dec 9, 2022 12:09:10 GMT
So is this impending pension doom what gets Tories back in power in a few elections time when it all gets blamed on Labour?
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sport✅
Junior Member
notice me senpai
I want to claim my tits
Posts: 2,316
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Post by sport✅ on Dec 9, 2022 12:24:32 GMT
It's gonna be like Mad Max Thunderdome. 2 man enter, 1 man leave...
...with others pension.
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on Dec 9, 2022 12:25:43 GMT
May as well all just off ourselves now. Don't do that! The day after we retire would be best for the country. |
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Post by drhickman1983 on Dec 9, 2022 12:31:25 GMT
I'm going to invest in a charcoal burner.
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on Dec 9, 2022 12:32:40 GMT
So is this impending pension doom what gets Tories back in power in a few elections time when it all gets blamed on Labour? Labour only get one parliament to give the Tories something to blame things on. Prime Minister Johnson (even he) will be explaining in 2029 why we need to work until death, because Labour spent all the money on whatever The Mail hates that week. |
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Post by Dougs on Dec 9, 2022 12:34:02 GMT
As well as immigrants?
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Post by Leolian'sBro on Dec 9, 2022 12:38:44 GMT
Well immigrants are just the gift that keeps on giving for the Tories, doubly so for those who stand behind Brexit. The narrative is self-perpetuating, if Brexit somehow turned out to be a catastrophe (oh look what happened) then they hide behind ‘the people wanted it’ and handwave things like ‘the last lot mismanaged it, if WE’D done it it would have been great AND IT WILL BE’.
Repeat ad naseum while everything gets worse.
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Post by Bill in the rain on Dec 9, 2022 13:02:26 GMT
Isn't there quite a lot of data that the economy actually does better when there are robust regulations in place?
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Deleted
Deleted Member
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Post by Deleted on Dec 9, 2022 13:11:13 GMT
Isn't there quite a lot of data that the economy actually does better when there are robust regulations in place? The strength of the economy isn't the focus of these reforms. Bonuses for the sort of people who contribute funds to the Conservative Party are the thing that urgently needs addressing. |
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Bongo Heracles
Junior Member
Technically illegal to ride on public land
Posts: 4,631
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Post by Bongo Heracles on Dec 9, 2022 13:22:48 GMT
Labour dont make enough of the fact birth rates rose under them to their highest point in a couple of decades and then immediately fell off again under the tories.
Make people feel like they are supported and wont end up in the poor house and they produce more worker bees to shore up the economy. Whoda thunk it.
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Post by Leolian'sBro on Dec 9, 2022 13:28:17 GMT
It benefits the economy as a whole. Just not the bit that lobbies the Govt to change regulations.
Banking rhetoric 1 2 3:
1. Bankers deserve massive bonuses because they make so much money.
(wellactuallyno, firstly bread and butter banking is very easy to make profitable, and second investment bankers actively and openly manipulate the markets to position themselves at an advantage rather than having some special banking superpower, plus their income isn’t docked when they are loss making in proportion with the losses so it’s all upside for them)
2. If you don’t pay them the bonuses they will go elsewhere.
(wellactuallyno, they didn’t in 2008 and at the higher echelons banking is just meetings and client lunches to keep everything sweet while your Product guys do all the work)
3. Banking is central to the UK economy and pays for the UK
(wellactuallyyes, but this is by design and due to decades of investment from the Government aimed at turning the UK into a parasitical economy (sorry, ‘tertiary economy’) based around London and anyway shouldn’t this be an argument for making banking as safe as possible?)
I am genuinely stressed out by this relaxing of the banking regs. It’s short-term as fuck and it’s unbelievably risky.
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