Thursday, 1 December 2011


I've followed all this shite today, about the public sector employees fighting for their pension etc, etc and the difference between public and private pensions.  So here's my take on it, for what it's worth.

I believe that if you start a job and they tell you the conditions are such and such, then you are entitled to expect that to be the case. For public employees, the majority of who, don't get huge pensions, that should be what happens.  I coming from the private sector have never understood, why because, you work for the Government, you should get a final salary pension.  But apart from that,  I spent some time in the pensions industry in the 90s and the one thing, I could never get my head around was, that in a money purchase scheme you had to turn your pension pot over to some fucking insurance company!

Now if I had a final pot of say, £100,000, (which I don't), why should I say to some insurance company, " I want to buy an annuity, please take my money, pay me a pittance, if I die at age 67, give my wife a half pension and if she dies at age of 68, then just you take the rest of the pension pot and invest it, into your profits"!

Now, if I am lucky enough to hit a pension age and I had a pension pot of £100,000, I would like to say to the Government, "OK, give me that money and I will do whatever the fuck I feel like doing with it"!  I may want to buy a new house, a new car, a new house in Spain (see banner!), or some 23 year old whore for a year, it's MY FUCKING MONEY!

Until they can solve the above question and stop taking donations and bribes from insurance companies, then politicians, if it was anything to do with me, you could shove your


Anonymous said...

Not unreasonable. I've never understood why, as it is your money, you can't just have it all.

Probably because they reckon (and probably rightly) that a fair proportion of people would do just what you suggest (the whore I mean) and then, having spent their pot, they'd come back to dear old blighty and ponce off the state.

Sounds like a plan actually.

Dark Lochnagar said...

Tris, that may happen but at the end of the day, it's your fucking money to spend as you see fit. Now, the state would be entitled to say, if you want to piss your money away on some young whore, then you are only going to get a basic state pension and no additional help. If you are cold you can heat yourself up wanking over the sight and smell of a young pussy. My memory doesn't extend that far! But, at the end of the day, it's your money to spend as YOU see fit, IMO.

banned said...

"if you start a job and they tell you the conditions are such and such, then you are entitled to expect that to be the case" until Gordon "Scotch Cunt" Brown decides to rob your pension fund.

Jeremy Clarkson has a more robust response to striking public sector employees
shoot them all

Dioclese said...

I can understand that the government would want to make you stretch out your pension pot over the rest of your life - hence the annuity compulsion - but why don't they put the capital back into your estate when you die? To me this is legalised highway robbery.

Something has actually been done tho' - I have a drawdown policy at the moment - that efectively an annuity where you get to 'keep' the capital. Actually you don't have access to the pot, but it does become part of your estate on death. The catch was that you had to buy an annuity with the pot when you hit 75. The coalition has I understand abolished this requirement and you can carry on with the drawdown ad infinitum.

Someone please correct me if I have got this wrong!

On a seperate note, the union leaders like Bob Crow and cargill ave very nice pensions paid for my their unions!

I agree with Clarkson - but would also extend it to pension fund administrators. In fact I'd shoot them first

Dark Lochnagar said...

Banned, all we could all get a cushy contract from the BBC, a public body and be able to retire on the proceeds. I like Clarkson, mind you.

Dark Lochnagar said...

Greekers, that sounds more like it. I might be a bit out of date as it's 20 years since I was in pensions, but yes it is legalised robbery.

tartantommy said...

I did mention this is what the oil stealing TORY TOSSER'S are planing well done.

Dark Lochnagar said...

Tommo, and I see they have re-opened the old Argyll field, the first one discovered because there are now new ways of excavating oil.