I deposit $100 a month into a fund for my daughter, means by the time she's 18 it should give her a good headstart.
Give the person 85% of the gains at retirement age and the funding bank 15% and I bet they'd fall all over you to fund it....this would still give the individual a fantastic pension pot Or fund it out government budgets, the long term it would see huge amounts saved....it would be the initial cross over that would need the funding
Myself and the girl's grandparents have done the same, I put £1000 every birthday for both of my daughters and we have a pot we pay into monthly. Doesn't leave us with much to spend on ourselves, but that's okay. It's difficult to explain and justify pensions to a six year old and a three year old who want to go on an aeroplane for the first time. Hopefully I'll make it to see them both turn 18 and spend it.
It's a huge upfront cost admittedly, but the savings later in life would far outweigh it. We can't afford to keep doing it the way we are
You're probably not wrong but the cost of initially setting a scheme like this up would be huge and that's on top of what is currently set aside for pensions? I think eventually,(maybe not under the current government but I see it happening),they will means test the state pension and if you have your own private pension or money in the bank,you'll be expected to fund your own retirement...Cue the bulging mattresses and biscuit tins!!!
This should be done but no Government is going to make themselves that unpopular certainly not the current one. It needs implementing now though, to be phased in over the next 40 years. Eventually some Government is going to have to bite the bullet and do it.
The government could afford to give everyone a decent ish pension they could live off - they spend millions and billions on all sorts of ****e. It’s a political choice not to.
Had the same idea a few years ago but with more detail. The main one being that if someone passes away before they receive the pension, the whole pot goes back to the state to fund the pensions for the new borns. So longterm the annual cost plummets. One way to keep track of an individuals pension would be to issue their national insurance number when the birth is registered.and use the N.I. number as the pension policy number. I did cost this out however I no longer have the workings. I used a lump sum of 5k with a set minimum assured income. I am ex financial services.
Imagine how many good things could happen if politicians were individuals that actually represented their local areas instead of the short term rubbish system we have now.
You can't have third party ownership, ie a management company owning part of a player, but I think two clubs can jointly own a player.
