Pension lump sum question

[Ginge R]

sidicks said:

Very strange - in your previous post you were talking about how the state pension was the best value there is. And now you basically follow up with loads of information explaining why the state pension is one massive "fraud" as the true cost has been repeatedly hidden using unrealistic assumptions. You are basically making my point for me.

Thanks (Oh, by the way, I'm an Actuary with 20+ years experience)!

The reason is political, that's the point, and not really, who in their right mind would argue about pensions?! I wasn't arguing with you, I made that point at the end. I said it was the most efficient, not the best value. But in that is *is*, in the strictest sense, a Ponzi scheme, it doesn't matter what I think. It's unfunded, it is unsustainable. In more ways than one.

http://www.theguardian.com/sustainable-business/pa...

In principle, it can't be beaten, but we have killed the goose that laid the golden egg. It doesn't mean thst the principle is wrong. That's the point I'm making. As it is, for reasons beyond its control, it is unfit for purpose. What now, defined ambition? We don't even know what the ambition is. I was only an infanteer with over 20 years experience, alas.

Edited by Ginge R on Thursday 20th February 22:35

[Welshbeef]

sidicks said:

Very strange - in your previous post you were talking about how the state pension was the best value there is. And now you basically follow up with loads of information explaining why the state pension is one massive "fraud" as the true cost has been repeatedly hidden using unrealistic assumptions. You are basically making my point for me.

Thanks (Oh, by the way, I'm an Actuary with 20+ years experience)!

You wouldn't happen to have worked in London (Holburn/Chancery lane) between 2001-2008? I know its a very small world especially in Actuary

[sidicks]

Welshbeef said:

You wouldn't happen to have worked in London (Holburn/Chancery lane) between 2001-2008? I know its a very small world especially in Actuary

It was a small world when I started (less than 3000 actuaries worldwide, I think), but they are common as muck these days!


But no, I didn't work in Holborn over that period.