The private pensions industry benefits the fund managers - anyone investing in them will soon realise there is nothing or very little to show after saving for years. Private pensions were desecrated by governments & now the same is going to be done to the public sector pensions - off course, bankers being an exception, they are still commanding higher than normal salaries & expect their bonuses while nearly every other person actually has no prospect of a bonus in sight, neither for good or bad practice - RBS though owned partly by government are still paying out bonuses even though they have made losses!
It is absolutely obscene that nearly everyone with a private pension has seen great losses made by their investment fund managers, but they will still get bonuses, whether or not funds realise any growth in the pension funds.
Most of us understand very little about how our pensions work, we take it on trust that because we have done the right thing ie save for our pensions, therefore right will be done for us, but expect no such thing. The quick wheeler dealer has made lots of money for the company he works for & he is rewarded mightily, even though a few months later, the same person will have lost the company millions - get rich quick schemes are being dreamt of & sold to the gullible public almost on a minute by minute basis, Somehow those regulating are always caught not just napping, but in a deep coma, until the shite hits the fan - their is no pension scheme worth a bean these days - so, my advise to my young children, do not bother, because it will all be swallowed up by a myriad of charges investment companies are dreaming up as I pontificate on this subject.
