| Reform vows to overhaul Local Gov Pension Scheme 10:47 - Feb 25 with 1397 views | Ralphinho |
When politicians (across the political spectrum) start taking an interest in directing pension capital, it’s time to start raising eyebrows.
Reform are pushing changes to LGPS investment rules. On the surface it’s framed as “efficiency” or “productive UK investment”, but it looks an awful lot like creating political leverage over where huge amounts of pension money get placed, with a likely destination being a small circle of well-connected UK firms... Who may also happen to be their biggest political and financial backers.
Reform MP's have already demonstrated a willingness to help their donors avoid tax, accept funding from questionable sources and exploit tax havens/loopholes, why would they draw the line at directing pension funds towards their allies under the guise of improving outcomes for LGPS members?
Whether you are a member of the LGPS or not, Reform are not our friends.
https://www.bbc.co.uk/news/art |  |
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| Reform vows to overhaul Local Gov Pension Scheme on 10:56 - Feb 25 with 1321 views | Pinewoodblue |
From Labour’s manifesto
Labour will also act to increase investment from pension funds in UK markets. We will adopt reforms to ensure that workplace pension schemes take advantage of consolidation and scale, to deliver better returns for UK savers and greater productive investment for UK PLC. We will also undertake a review of the pensions landscape to consider what further steps are needed to improve pension outcomes and increase investment in UK markets. |  |
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| Reform vows to overhaul Local Gov Pension Scheme on 10:57 - Feb 25 with 1313 views | Steve_M |
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| Reform vows to overhaul Local Gov Pension Scheme on 11:02 - Feb 25 with 1280 views | Ralphinho |
| Reform vows to overhaul Local Gov Pension Scheme on 10:56 - Feb 25 by Pinewoodblue |
From Labour’s manifesto
Labour will also act to increase investment from pension funds in UK markets. We will adopt reforms to ensure that workplace pension schemes take advantage of consolidation and scale, to deliver better returns for UK savers and greater productive investment for UK PLC. We will also undertake a review of the pensions landscape to consider what further steps are needed to improve pension outcomes and increase investment in UK markets. |
Okay, so more of the same then. | |
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| Reform vows to overhaul Local Gov Pension Scheme on 12:39 - Feb 25 with 1107 views | DJR |
| Reform vows to overhaul Local Gov Pension Scheme on 11:02 - Feb 25 by Ralphinho |
Okay, so more of the same then. |
I am not sure where the Labour proposals have got but they will not be doing this without keeping regulators/pension funds etc on board. And their proposals would not involve the government taking over, or benefiting from, pensions schemes or their assets.
In contrast this is one reaction to Reform's proposals.
Zoe Alexander, executive director of policy and advocacy at Pensions UK, said:
"We simply do not recognise the picture of the local government pension scheme (LGPS) that Reform UK has painted.
The LGPS is one of the largest and most successful pension schemes in the world. It is fully funded and undergoing a major reform programme to consolidate its assets into six large investment pools ranging from £25-100bn, with savings to date estimated at £1bn, and with further savings to come. It is an exemplar of UK investment amongst pension schemes, with an allocation of around 17%. LGPS investment performance for England and Wales has been strong, with the scheme having achieved a return of around 7% pa over the last decade.
Reform’s proposals are lacking in detail, but its intentions to place all new staff into a defined contribution scheme and to transform the scheme into a sovereign wealth fund are concerning.
The LGPS exists solely to fund the retirements of close to 7 million local government workers, many of whom are low earners. It does not exist to manage a pool of assets to fund government projects."
But if Reform withdraw from the ECHR (and particularly Article 1 of the Protocol: right to property), who knows what they might try to get up to.
[Post edited 25 Feb 15:13]
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| Reform vows to overhaul Local Gov Pension Scheme on 12:47 - Feb 25 with 1079 views | soupytwist |
| Reform vows to overhaul Local Gov Pension Scheme on 11:02 - Feb 25 by Ralphinho |
Okay, so more of the same then. |
I don't think that Labour's plans applied solely to the LGPS, or even to wider public sector provision.
So, if Reform's intention is to funnel investment in specific directions (whether they have a vested interest in them or not) then it's public funds that they'd be doing it with. And like pretty much everything Nige and his cronies suggest, that's wrong.
You can of course argue whether it's a good thing for any government to direct or encourage pension funds to invest in any given way. |  | | |
| Reform vows to overhaul Local Gov Pension Scheme on 12:50 - Feb 25 with 1056 views | Basuco |
As I see it, Reform MP's are going to take over investment decisions because professional investment managers are not doing an "efficient" job. What could possibly go wrong! |  | | |
| Reform vows to overhaul Local Gov Pension Scheme on 12:53 - Feb 25 with 1047 views | iamatractorboy |
No point trying to explain or speculate about the finer detail. Can be summed up as: GRIFT. |  | | |
| Reform vows to overhaul Local Gov Pension Scheme on 14:08 - Feb 25 with 884 views | keighleyblue |
| Reform vows to overhaul Local Gov Pension Scheme on 12:50 - Feb 25 by Basuco |
As I see it, Reform MP's are going to take over investment decisions because professional investment managers are not doing an "efficient" job. What could possibly go wrong! |
Who needs so-called 'experts' anyway |  | | |
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| Reform vows to overhaul Local Gov Pension Scheme on 15:22 - Feb 25 with 791 views | Basuco |
| Reform vows to overhaul Local Gov Pension Scheme on 14:08 - Feb 25 by keighleyblue |
Who needs so-called 'experts' anyway |
A £400Bn pot of pension assets must be so attractive to the dodgy far right grifters. | | | |
| Reform vows to overhaul Local Gov Pension Scheme on 16:28 - Feb 25 with 718 views | J2BLUE |
A vote for Reform is basically saying I am happy to get hurt as long as they hurt someone else more.
See the endless videos on Youtube from Trump voters who say things like when I voted for Trump I didn't think the consequences would happen to ME. |  |
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| Reform vows to overhaul Local Gov Pension Scheme on 16:45 - Feb 25 with 682 views | BlueBadger |
| Reform vows to overhaul Local Gov Pension Scheme on 16:28 - Feb 25 by J2BLUE |
A vote for Reform is basically saying I am happy to get hurt as long as they hurt someone else more.
See the endless videos on Youtube from Trump voters who say things like when I voted for Trump I didn't think the consequences would happen to ME. |
The face-eating leopards will need to be going on diets. |  |
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| Reform vows to overhaul Local Gov Pension Scheme on 17:23 - Feb 25 with 590 views | BlueBadger |
Meanwhile, Rupert Lowe has been thinking about the REAL problems facing society.
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| Reform vows to overhaul Local Gov Pension Scheme on 17:29 - Feb 25 with 572 views | J2BLUE |
| Reform vows to overhaul Local Gov Pension Scheme on 17:23 - Feb 25 by BlueBadger |
Meanwhile, Rupert Lowe has been thinking about the REAL problems facing society.
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If he promises to ban loud Reggae music outside in summer he's getting my vote!
(not really, but reggae is awful and I should be allowed to sue anyone who makes me endure it) | |
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| Reform vows to overhaul Local Gov Pension Scheme on 19:06 - Feb 25 with 458 views | Dubtractor |
| Reform vows to overhaul Local Gov Pension Scheme on 17:29 - Feb 25 by J2BLUE |
If he promises to ban loud Reggae music outside in summer he's getting my vote!
(not really, but reggae is awful and I should be allowed to sue anyone who makes me endure it) |
Proper reggae is outstanding.
Ffs J2, you've let yourself down here. |  |
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| Reform vows to overhaul Local Gov Pension Scheme on 19:38 - Feb 25 with 409 views | Coastalblue |
| Reform vows to overhaul Local Gov Pension Scheme on 17:23 - Feb 25 by BlueBadger |
Meanwhile, Rupert Lowe has been thinking about the REAL problems facing society.
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My god, tell me that's satire please?
It's not real is it? Am I due a woosh?
Because some people play music on the tube, mass deportations will stop it. |  |
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| Reform vows to overhaul Local Gov Pension Scheme on 19:43 - Feb 25 with 400 views | Swansea_Blue |
| Reform vows to overhaul Local Gov Pension Scheme on 19:38 - Feb 25 by Coastalblue |
My god, tell me that's satire please?
It's not real is it? Am I due a woosh?
Because some people play music on the tube, mass deportations will stop it. |
He makes a fortune posting this crap, £thousands per month. He may not even believe it himself. He could just be testing how vile and racist his supporters are. Probably not - the simplest answer is he’s just vile and racist, but I do sometimes wonder if he’s just on a wind up. |  |
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| Reform vows to overhaul Local Gov Pension Scheme on 20:32 - Feb 25 with 336 views | GlasgowBlue |
| Reform vows to overhaul Local Gov Pension Scheme on 19:06 - Feb 25 by Dubtractor |
Proper reggae is outstanding.
Ffs J2, you've let yourself down here. |
I'm with you dub. Can't beat proper reggae. Always loved Musical Youth and UB40 post 1983. |  |
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| Reform vows to overhaul Local Gov Pension Scheme on 20:54 - Feb 25 with 288 views | DJR |
| Reform vows to overhaul Local Gov Pension Scheme on 19:38 - Feb 25 by Coastalblue |
My god, tell me that's satire please?
It's not real is it? Am I due a woosh?
Because some people play music on the tube, mass deportations will stop it. |
I think the issue is that a lot of these people might flirt with aspects of libertarianism (such as unlimited free speech) but at heart they are very conservative. Indeed, a lot of it is harking back to a supposed golden age. See also Kruger's comments yesterday in relation to what he called "the totally unregulated sexual economy". [Post edited 25 Feb 20:57]
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| Reform vows to overhaul Local Gov Pension Scheme on 20:57 - Feb 25 with 272 views | lowhouseblue |
| Reform vows to overhaul Local Gov Pension Scheme on 20:54 - Feb 25 by DJR |
I think the issue is that a lot of these people might flirt with aspects of libertarianism (such as unlimited free speech) but at heart they are very conservative. Indeed, a lot of it is harking back to a supposed golden age. See also Kruger's comments yesterday in relation to what he called "the totally unregulated sexual economy". [Post edited 25 Feb 20:57]
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don't see any problem in objecting to anti-social behaviour - it blights people's lives and any decent government should try to address it. but linking it in any way to mass deportations is unhinged. |  |
| And so as the loose-bowelled pigeon of time swoops low over the unsuspecting tourist of destiny, and the flatulent skunk of fate wanders into the air-conditioning system of eternity, I notice it's the end of the show |
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| Reform vows to overhaul Local Gov Pension Scheme on 21:05 - Feb 25 with 244 views | Dubtractor |
| Reform vows to overhaul Local Gov Pension Scheme on 20:32 - Feb 25 by GlasgowBlue |
I'm with you dub. Can't beat proper reggae. Always loved Musical Youth and UB40 post 1983. |
Ha.
That made me chuckle.
Them and Matthew Wilder - break my stride. | |
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| Reform vows to overhaul Local Gov Pension Scheme on 22:45 - Feb 25 with 122 views | J2BLUE |
| Reform vows to overhaul Local Gov Pension Scheme on 19:06 - Feb 25 by Dubtractor |
Proper reggae is outstanding.
Ffs J2, you've let yourself down here. |
Nah, it's utter sh1te | |
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