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MyCompanyPension.co.uk - Helping members of occupational pension schemes to better understand their benefits.
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:: Blog | March 2009 (10 blogs) | Deflation and its effects on pensions
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Deflation and its effects on pensions
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Well the media jumped the gun a little, ahead of the ONS’s release of February’s inflation data, but I suspect that they are only a month ahead of publishing negative inflation figures. See
And last night’s Panorama programme was more than a little predictable. A well-respected IFA acquaintance of mine (David Drane, of New Discovery Financial Services) expressed his opinion before the show was aired with a shortlist of expectations:
“Let’s put odds on the programme:
1 - muddying the waters between money purchase and final salary schemes.
2 - leaving people with the impression all pensions are bad
3 - not putting ups and downs of the investments in context
4 - not highlighting the downsides of doing nothing or more likely not paying in enough (e.g. Mr.SoandSo has paid £20pm for the last 20 years and is only getting £30pm pension. - pension company bad. Mr.SoandSo not bad, despite the contributions being unrealistic).
5 - A focus on short term issues which will put off people who could actually benefit from current events.”
If you saw the show, you’ll know that he wasn’t far wrong either.
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Mike Jones, MyCompanyPension.co.uk Ltd, March 24th 2009
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(24 pages)