Mark Carney’s recent speech set the stage for rate cuts, which would draw the Bank of England in line with the US Federal Reserve and the European Central Bank, where policy easing is imminent. The Bank for International Settlements (BIS), which supervises central banks, expressed concern about rate cuts in its annual report last Sunday.
Cheap money is one reason why the global economy has been unable to jettison its debt-dependent growth model. Low rates may undermine productivity (key to living standard growth) and may even sap the economy’s ability to withstand higher rates. Cheap money delivers the investor class (0.01%) untold riches as asset prices rise.
400,000 people face this problem, are you one of them? The government has admitted your state pension may not be worth as much you think. The Bank of England is contemplating negative interest rates. Savings are languishing in the bank. The Buy to let property screw is tightening with increased red tape and taxes. Now, what are you going to do? London home values are down £40 billion in the past year.
Pensions minister Guy Opperman has admitted that about 400,000 people face a significant problem. In a letter to the Royal London director of policy, Opperman confirmed that 400,000 online statements and personal pension forecasts were inconsistent with ones that were written at an early date. Members of the public have been reporting that they have received pension statements which are inconsistent with previous statements with the online versions being incorrect. This is particularly worrying considering the fact that the public are increasingly being encouraged to use online services to plan their retirement.
Following this letter to the director of policy at Royal London The Department for Work and Pensions said it was working urgently with HMRC to ensure the problem is resolved as quickly as possible. It has not announced any plans to get in touch with people who were given an incorrect pension forecast. Labour says it is simply unacceptable that hundreds of thousands of people have been misled about the amount they will get their personal pension. And now they take away your TV licence as well just to rub it in. What are you going to do?
Is it not time you find out how Buy2LetCars has managed a 100% client satisfaction rating, a 100% repayment record to each client across a £50 million portfolio since 2012? Have a 15-20 minute chat with one of our funding consultants today. We can provide you with information and guidance about our high return investments, and send you a free gift that may well save your pension deficit.
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