tag:blogger.com,1999:blog-6263577133333272085.post7298296595301909381..comments2024-03-28T11:04:16.315+00:00Comments on Boffy's Blog: State Capitalist Attacks Its Workers' Pensions AgainBoffyhttp://www.blogger.com/profile/08157650969929097569noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6263577133333272085.post-55546763759033769802011-03-11T02:37:01.514+00:002011-03-11T02:37:01.514+00:00Thanks for the material in the first paragraph. A...Thanks for the material in the first paragraph. At least our countries have something in common when compared to the idiocy of the US government's pension system: Social Security investing in only T-bills.<br /><br />Another reason why I'm advocating what I'm advocating is that workers in small businesses have little to no pension benefits. Naturally, such costs would be costly to their employers. Hence, the state aid.<br /><br />Re. the rip-offs: comrade, I read your prior comments on rip-offs, and even Mike Macnair's legal FYI. That is another reason I advocate the state aid above, to prevent private employers from thieving away like GM did.Jacob Richterhttps://www.blogger.com/profile/13595821621256547971noreply@blogger.comtag:blogger.com,1999:blog-6263577133333272085.post-87375547089910330922011-03-10T20:14:27.605+00:002011-03-10T20:14:27.605+00:00In the Uk, workers Pension Funds are invested larg...In the Uk, workers Pension Funds are invested largely in FTSE 100 companies, some is allocated to major foreign companies, and a significnt proprtion is invested in Government Bonds. Indeed, because they have a fiduciary responsible to ensure that funds are invested so as to provide a reliable income stream in the longer-term, they have to invest a significant proprtion in longer dated Gilts. There was some controvesy over that a few years ago, because when the last Government introduced even longer dated paper, it was suggested that the price of this was artificially inflated due to the need of Pension Funds to buy it.<br /><br />I would absolutely oppose the Capitalist State taking over the workers pension funds. On the contrary, I would favour workers being able to opt-out of national Insurance, and Income Tax payments equivalent to what would be calculated to go towards their Pensions, and instead to be able to have control of these funds to invest in their own Worker owned and controlled pension Funds.<br /><br />I've written in the past about what a con the State pension scheme is. When it was set up, very few workers lived long enough to collect any of the money they had paid in. Time after time the Capitalist State has failed to even index the pension to prices when prices are rising rapidly like now, and during periods when prices were rising slowly, they changed tracks to index to prices rather than earnings. Now that workers are living long enough to be able to draw their paltry pension for a few years, the Capitalist State has decided to arbitrarily raise the retirement age!<br /><br />As with everything the Capitalist State does, it is a rip-off, another means by which Capital exploits Labour.Boffyhttps://www.blogger.com/profile/08157650969929097569noreply@blogger.comtag:blogger.com,1999:blog-6263577133333272085.post-68946739817280448822011-03-10T14:53:58.153+00:002011-03-10T14:53:58.153+00:00Where are workers pensions in the UK invested?
I&...Where are workers pensions in the UK invested?<br /><br />I'm for the takeover of the health-industrial complex and all assets of workers' insurance and private pension funds into permanent public ownership, with levies against enterprise assets for any fund deficits, with appropriate pro rata transfer provisions for prospective pensioners, and with decisive worker participation in their administration, and that's because governments here better manage the pension investment portfolio than private investors, and especially because it's harder and harder to have individual savings.Jacob Richterhttps://www.blogger.com/profile/13595821621256547971noreply@blogger.com