Our pension losses are highest in the world

No surprise as they will invariably have been buying advice from the best of our stockbrokers.

If pension relief ever gets cut to lower rate of tax then very difficult to justify.

Simply pay off the mortgage is the best advice

Did the editorial direction change over the day???

independent.ie/opinion/colum … 86660.html

No surprise as they will invariably have been buying advice from the best of our stockbrokers.

If pension relief ever gets cut to lower rate of tax then very difficult to justify.

Question for the brainy pinsters-
Due to deterioration in company Pension scheme, a friend has been asked to make a choice -

Option A)Company makes up a bit of the shortfall and employees up their contribution from 2.5% to 7%. AVC’s are matched
B)keep current contribution of 2.5%, get reduced pension benefit of 1/80 and elimination of matching of AVC’s
C) increase contribution to 5% with elimination of matching of AVC’s

What would ye suggest, A,B or C?. The fund managers say these options will get them out of the current crisis but what’s around the corner?. :angry: There are no guarantees of anything being there in 30 years, Waterford Crystal scheme–ahem! Should he keep his contibutions as low as possible to this particular fund (where he has no control over what they are investing in) and build his own assets for retirement (as in Rich Dad, Poor Dad)?. Any advice gratefully received 8DD

I asked before why it was the Irish pension managers allocated funds disproportionately to Irish shares. If they hadn’t done this our losses would be no higher than the European average.

Anyone know the answer, I am genuinely curious. A misguided ‘green jersey agenda’ or something more sinister?

How about bigger commission, or maybe keep control of the money by investing it in your companies latest property purchase and then get bigger commission.
Or maybe they were stupid or stupid and reckless? Pick anyone you want its possibly right to a varying degree depending on which one. XX

Maybe its because they had made tons of money as the ISEQ went up, and were in denial as it went down?

Or all that ‘positive thinking’ mantra chanting before a statue of Bertie Ahern each morning?

“nobody saw it coming and we all wanted it and we are all to blame” - that is a mixture of the governement and banks answers.

When I asked a friend in a fund managers in 2005 about the bubble he said “what bubble” - 2 years later he talked about it as matter of factly as it was business as usual.

Bragging: I took my pension out of equities and managed funds and put it all in cash and bonds, my pensions is -9% over 3 years and recovering fast, if I had trusted the “fund managers” it would have been down close to 50%.

interesting that the NPRF never bought into the ISEQ mania and have generally done quite well, thank you, relative to the rest of the muppetry.

Maybe they never got around to it, the newspaper and biscuits were too tempting.

nah, they went more or less passive world equity index. Simple.

Which option do ye think, A, B or C?

Question for the brainy pinsters-
Due to deterioration in company Pension scheme, a friend has been asked to make a choice -

Option A)Company makes up a bit of the shortfall and employees up their contribution from 2.5% to 7%. AVC’s are matched
B)keep current contribution of 2.5%, get reduced pension benefit of 1/80 and elimination of matching of AVC’s
C) increase contribution to 5% with elimination of matching of AVC’s

What would ye suggest, A,B or C?. The fund managers say these options will get them out of the current crisis but what’s around the corner?. :angry: There are no guarantees of anything being there in 30 years, Waterford Crystal scheme–ahem! Should he keep his contributions as low as possible to this particular fund (where he has no control over what they are investing in) and try and put his money into building his own assets for retirement (bound to do better than these clowns)?. Any advice gratefully received 8DD

I’ll see your brag and raise you a gloat.

I took my pension out of equities in late 2007 and put it into gold bullion. I’m up about 20%.

I think you’ve answered your own question. He would however, need to become very financially aware in order to plough his own furrow successfully.

Hard to give a better answer without knowing the company fund’s investment strategy and how it is likley to fare in the coming years. For example if it were heavy on commodities and emerging market equities for the next ten years or so I personnally would like it. Also depends on what his company’s prospects are.

He obviously has a defined benifit pension. Just goes to show that they are not the be-all and end-all.

I think that all nationalities are probably guilty of a similar approach to investing, but when you are based in a small economy like Ireland, you will inevitably concentrate your investments in a narrow band of shares and/or other assets.

In Ireland this was componded by the fact many of the largest listed shares had much more exposure to the property market than many retail investors realised.

I have seen many investment portfolio statements from various Irish wealth management firms over the years and they all look the same. The ‘investor’ will have a large concentration if Irish shares (all the usual ones because let’s face it there is shag all diversification within the ISEQ) with a few foreign brand names thrown in (Nestle, Coke, Unilever and some UK banks).

Does Brendam an AAM stil recommend that you hold a basker of 10 Irish shares? Even if he does not this attidute was symptomatic of the traditional Irish approach to investing.

However, in fairness to the asset managers, they would probably have difficulty in selling a genuinely diverse investmnet portfolio to an average Irish punter. Faced with a basket of European and UK stocks, you would probably get asked where are AIB and BOI?