Post by fossn on Jul 24, 2014 16:21:26 GMT
There was a debate I participated in online a few months ago based on work done by Jim Macdonald.
he advocated creating a national fund of all pension funds in the UK and investing in infrastructure and business based in the UK.
he estimated a potential fund of £1.7trillion is invested by fund managers of pension funds in casino style banking, betting on the stock market and in highly specialised derivatives and commodities markets around the planet.
this activity caused the current recession and others before it. It does not produce safe, long term gains and thus better pensions.
the idea is to nationalise all the pension funds into one national fund run by an investment board with a remit to invest in long term safer investments such as housing, energy, etc which is mentioned in the economy policy page.
it would provide a guaranteed basic pension and enhancements for those paying in extra contributions. The govt currently spends £100billion+pa on basic state pensions which could also be paid into the fund and index linked.
this fund provides money which is already in the system for investment in the country for the benefit of all.
he advocated creating a national fund of all pension funds in the UK and investing in infrastructure and business based in the UK.
he estimated a potential fund of £1.7trillion is invested by fund managers of pension funds in casino style banking, betting on the stock market and in highly specialised derivatives and commodities markets around the planet.
this activity caused the current recession and others before it. It does not produce safe, long term gains and thus better pensions.
the idea is to nationalise all the pension funds into one national fund run by an investment board with a remit to invest in long term safer investments such as housing, energy, etc which is mentioned in the economy policy page.
it would provide a guaranteed basic pension and enhancements for those paying in extra contributions. The govt currently spends £100billion+pa on basic state pensions which could also be paid into the fund and index linked.
this fund provides money which is already in the system for investment in the country for the benefit of all.