Re: bollocks
I was part of a pension scheme where the employer (an investment firm) guaranteed a minimum 7% p.a. growth over the life of the investment and made non-contributory (on the employee's part) 18% of salary contributions to the pot. They got bought out and the parent company went bust. I'm not likely to get much back out of that one.
Personally I prefer the Australian concept of legally mandated 9.5% of salary goes into your pension pot which is then effectively a defined contribution scheme which can be invested where you want subject to constraints. It does create issues around sloppy and/or inefficient behaviour on behalf of the local investment industry that knows there's a lazy 9.5% of everyone's salary that has to go somewhere each year. There are also issues around self managed schemes becoming day-trading levels of risky. However I find the concept of the legal mandate better than the UK system of some people get a company pension, others do their own thing and there's now real mandate around how much needs to be put away so some do jack shit.
Biting the hand that feeds IT
