Saturday, 7 August 2010

Your pension pot is £ 53.

In a recent article in the usually much respected Daily Telegraph printed Quote " The National Association of Pension Funds .... which represents 1,200 pension schemes with 15 million members and assets of £800 million, " EndQuote

Do the maths 15,000,000 members with £ 800,000,000 of assets that works out to each member having asset backing of £ 53 each. Looks like a poverty stricken retirement for us all. Even if that asset number was supposed to be billions ( 1000 Million ) that just boosts the assets per member to just £ 53,000. At current annuity rates that's an yearly income of £ 3260 for a 60 year old bloke. I think I currently spend that per month.

Cancel that gold watch its a cheepo Timex for you. On the other hand maybe a better plan is to fondle a contractor and get a $ 12 million pay off.


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