Tuesday, October 04, 2016

Red Tories are trying to "nationalise without compensation" the £130 Billion Local Government Pension Scheme

I do sometimes wonder whether Communist Soviet Union "sleeper agents" in the Conservative Party have been "activated" since 2015?

The recent announcement of Government guidance that directs UK Council pension schemes to only invest in line with UK Government foreign policy is at best just silly and at worse could result in disastrous investment decisions.

The bottom line is that the UK Government wants to tell Council pension schemes where they can or cannot invest but if those investment decisions go wrong, there is no Crown Promise or Pension Protection Scheme for the Local Government Pension Scheme.

If the Government wants to tell pension funds where to invest for political reasons they should be prepared to pick up the tab if it all goes horribly wrong (which as we all know, going horribly wrong is the only thing you can guarantee will happen in UK financial services)

Check out this Professional Pensions article by Stephanie Baxter, where I explain further my views.

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