Questions you should ask about the new pension reforms – 14500

1st January 1999

Over the course of the next few years, your employer will have to offer you a workplace pension and contribute to it if you make contributions too.
This is a big change from the previous system where employers were only required to offer access to a pension, and in reality many didn

13 thoughts on “Questions you should ask about the new pension reforms – 14500”

  1. forbin says:

    Hello Shaun,

    You asked yesterday about what black swans I was expecting , well black swan tend to appear out of the blue as such

    but a bailout for Italy might just do it ……. the size counts

    and yes I do expect it to go through several “bailouts ” or “bail-ins ” as many as the Eurcrats can think they can get away with

    been alright so far , said the man falling from a ten storey building as he passed the 5th floor……….

    Forbin

    1. Anonymous says:

      Hi Forbin,
      what depth of popcorn is needed to survive a 10 floor fall?
      DL

    2. Anonymous says:

      Hi Forbin

      I get the feeling too that something is just around the corner…

  2. Justathought says:

    Hi Shaun,

    It appears that the Italian woes are somehow structural, however with the forward guiding principle promulgate by the ECB, the slow decline
    will pursue until the 2014/2015 (elections of the new Euro parliament). That people want it or not structural reforms will be imposed and it will be “costly” not only to the fact of the debts level but few international events such as china hard landing, Us of A recession, Abenomics’ fiasco, I am not taking into account moves from highly energy consuming enterprises from Europe to the cheapest energy market such as the Us of A such as steel makers…

    Few countries already had to make some structural adjustment under the Troika…few more to come it seems …

    I cannot find any data regarding the Belgian car market affirming or disaffirming buying from foreigner/cross border however it appears that the heavily discount price is due to high stock level. Belgium car’ market is “special”. As I understood a quota level system is in place in order to sale on the Belgium market.

    1. Anonymous says:

      Hi Justathought

      Thanks for the further information on Belgium. As to Italy the real issue is what is going to trigger any reforms? Otherwise the saga will continue onwards and the economy will get ever weaker.

      1. Anonymous says:

        The UK also has heavily discounted car sales – mostly to commercial
        fleets & leasing companies. I suspect you can trace the heavily
        discounted cars by their cheap resale values at auction.

  3. Anonymous says:

    Hi Shaun,

    I’d suggest that the EU is still settling down from it’s 2004 expansion. We had a big gap in wages between East and West. For example many car firms started production in low wage Slovakia – some higher wage French car plants are under stress now. Wages are rising in the poorer countries and stagnant or declining in richer countries. Even Germany’s strong economy has seen declining real wages for workers. This trend is bad news for Western European workers & politicians.

    The gini coefficient seems to be rising in Europe, last week I brought a car back here & I saw some expensive new cars with Eastern European plates – especially Polish plates. Judging by new cars seen, the top few percent of the Polish people are doing well.

    1. Anonymous says:

      Hi ExpatInBG

      If it is the top few per cent then that is a familar tale in these times. I note that European “bad boy” Hungary had a decent first quarter to 2013 so perhaps it may turn out to be something of a role model.

      How are things in Bulgaria?

      1. Anonymous says:

        Hi Shaun,

        We’ve now had 26 days of anti-corruption & anti Stanishev cabinet protests. If I was in Sofia, I’d join them.

        Economically speaking, my man in the street view sees building workers less willing to accept discount on jobs (Eg there is a little more work on offer), property selling less slowly (thanks to the ECB’s actions in Cyprus), many sales still very cheap – buyers are mostly Russian & Bulgarian. Also it’s very hard to sell cars.

        I’d suggest stagnation, possibly trending up slightly.

  4. Dan Hill says:

    How time flies and the zombie system is left to go about its rather reduced business. Only another two months before the German elections. The markets appear to like November and May to apply real pressure so what do we reckon, will they give Angela 2 months or 8 before deciding the euro project is a lost cause and go in for the kill?

    1. Justathought says:

      8 months should be “perfect timing” for the kill but the “kill” it will be …

    2. Anonymous says:

      Hi Dan

      Markets can be fickle beasts and so the timing will depend on what other fish they have to fry. For example November could see “taper” fever in the US and put the focus elsewhere for a bit.

  5. Eric says:

    Hi Shaun,

    Why is it, do you think, that the quality of forecasting is so bad? Whether it’s growth or inflation most, if not all, of the time the numbers – from whomever they come – turn out to be plainly wrong; not simply inaccurate.

    It occurs to me that perhaps their economic models are invalid; and don’t reflect the reality of a post-GFC world. Invalid models are certain to produce wrong forecasts.

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