baldchap wrote:scrumpyjack wrote:Well maybe they will nationalise all private pensions, so your SIPP is exchanged for units in a new National Retirement Plan. This is to protect people from being robbed of their pensions by scams or company insolvencies and to increase security and equality by ensuring everyone gets the same return!
It will provide the state with a vast pool of assets to be used for 'investment' in public services.
This is my one real concern about pensions. Governments. Platform risk pales in comparison. I may consider stopping Sipp contributions if Magic Grandpa gets in.
Yes, the real risk is to assets that cannot be removed from UK jurisdiction. So expect property and pensions to be a soft target for Labour, because they are captive.
I have long been sceptical about pensions because they are a hostage to fortune. Governments find it impossible not to meddle with them. I have frequently foregone the tax relief going in, in favour of ISAs and other vehicles that are at least potentially exportable. Even the state pension could be means tested in the future, while NICs could be applied to the over-65's and to investment and pension income.
I am stuck with UK property, however, although I unloaded my BTLs a decade or so ago, before the "war on landlords" even started (by the Tories, of all people).