Time ticking for pension fund managers

It has been another bumpy day for the British economy and for the markets.

The Bank of England has warned pension funds they will not be bailed out past Friday.

And Prime Minister Liz Truss said public spending would not be cut, reducing wriggle room for chancellor Kwasi Kwarteng to balance the books.

#pension #pmqs #politics #skynews #liztruss #costofliving

[lokischildren]

Time to kick out the Tories and have a general election Now

[unfairworld]

All this is gonna end up badly.
I don't trust living off a pension on a few years anymore .
Big, massive concern

[cordovalark]

Long story short: If Pension funds, now acting like Hedge Funds, had been able to divest then the Bank of England would not have been having to buy Bonds every single day. Now they are being told they less than two days to get it off their books and into something else. Won't happen.

[PD_]

Thanks, geniuses, for screwing up everyone's retirement. Except the King's, of course.

[tanabexo]

5:03
NOW PLAYING

Why pension funds using

[fakename]

Pension fund managers need to take the blame for this one - how short sighted is it to be over leveraged on something so dependent on interest rates remaining low?

[ssuwandi]

The decrease rate of principal could be proportionally reallocated in currency hedging as one of defensive layers / overlays in portfolios

[thisallreal]

Just accept that your wealth, if locked up in this ponzi scheme has been knicked 😆

[britishrose]

It's funny how we are portraying ourselves as victims of something that has happened to the world, when money and financial markets are a human construct. We did this to ourselves.

[shaun]

I thinks it's time to take thatchers policies off life support, they had a good run but your just causing suffering keeping it alive!

[peterburke]

Funny how peoples money under the control of puppets is forced to purchase worthless assets.pitch fork and fire.

[larzkruber]

Give them less oversight!
"Sir Nigel" wanted this!

[Alternative_views]

Where and who gets the pension money?? Or does it go to money heaven.

[Big_Island_Boi]

Unfortunately the problems in Britain and really around the world--are unsolvable. Look at America. We now have $31 TRILLION in public debt. Eventually that house of cards will collapse--just like it is in Britain at the moment--and no one will be able to "solve" that problem either--not in the short term. So our markets and our economy and our citizens will also be turned upside down and inside out and we will default on our public debt--and the markets will wipe two or three or four zeros off our currency and our "wealth"--just like it has in every other country around the world that has run up huge deficits--and then defaulted. Some problems--created by our "elected officials" are simply to huge to "fix".

[chuaskh]

Fund Managers get fired and work again.. elsewhere.. pensioners suffer

[Luluknights]

Could someone explain what does this mean ?

[esioanniannaho]

Fri thro to Tuesd.
After that Quasi Chancellor will be given his P60. Wonder then who will take the poison chalice. Real Politique of Economics versus Libertarian Theory (ERG et AL) of Economics ??

[netty]

Pension managers never should have been allowed to gamble on the stock market, it’s absolutely ridiculous to think these people are equipped to deal with the hidden fees imposed by the vultures on Wall Street.