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UPS Retirement Topics
Surrending CS Pension?
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<blockquote data-quote="wkmac" data-source="post: 73819" data-attributes="member: 2189"><p><strong>Oh God, another link! LOL!</strong></p><p></p><p>OK2BC,</p><p>This morning I heard a report on local radio about some new British law that requires all british citizens to put 4% of income into a private personal retirement account and requires employers to match. Now the story lacked a lot of detail like is this proposed or is it actual law and it also said something about limits of fees and maybe even areas of investing. I've done some searching and so far found nothing but I'll keep looking to see what I find on this. On the one hand and admittedly not having all the details, this does sound somewhat good if in fact it is a truly private account that the employee owns and is portable and out of the hands of parties like employers and other work related fudciary agents associated with the work environment. </p><p></p><p>On the otherhand I'm not wild about gov't mandates by law but it's coming to a point where the only choices will be the worst of 2 or 3 evils. I do like the fact, as I understand it from the report that the account is in the hands of the employee (his/her actions with it are limited by law to some degree so you can't get stupid with it) this account seems beyond the hands of any work related parties. That level of independence IMO is a good thing. Hats off to the British if what and how I heard this is true! If I find anything on this I'll either post it or PM you the details.</p></blockquote><p></p>
[QUOTE="wkmac, post: 73819, member: 2189"] [B]Oh God, another link! LOL![/B] OK2BC, This morning I heard a report on local radio about some new British law that requires all british citizens to put 4% of income into a private personal retirement account and requires employers to match. Now the story lacked a lot of detail like is this proposed or is it actual law and it also said something about limits of fees and maybe even areas of investing. I've done some searching and so far found nothing but I'll keep looking to see what I find on this. On the one hand and admittedly not having all the details, this does sound somewhat good if in fact it is a truly private account that the employee owns and is portable and out of the hands of parties like employers and other work related fudciary agents associated with the work environment. On the otherhand I'm not wild about gov't mandates by law but it's coming to a point where the only choices will be the worst of 2 or 3 evils. I do like the fact, as I understand it from the report that the account is in the hands of the employee (his/her actions with it are limited by law to some degree so you can't get stupid with it) this account seems beyond the hands of any work related parties. That level of independence IMO is a good thing. Hats off to the British if what and how I heard this is true! If I find anything on this I'll either post it or PM you the details. [/QUOTE]
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