A lot of people have have paid into pension funds which have collapsed what happened to their money?

Question

for everyone who looses "somone" has to win

Answer 1

another rip off scam of the late 80 s when they panicked people into gettin pensions , then the sting . Lawful theft

Answer 2

Currency speculators, share traders, banks. The funds have been swallowed up by the capitalist machine.

I appreciate some just won't be able to resist blaming the Government or Gordon Brown in particular but, as in so many things, they are wrong. The questioner is asking about funds that have collapsed. If I had wanted to make a cheap political point I could have harped on about the Tories letting companies take pension holidays and allowing a poor regulatory framework which enabled company directors to raid pension funds.

The truth is that most collapse through poor regulatory control- which is why it has been tightened up in recent years (Corporate Governance - the Turnbull Report)

Answer 3

The money was put into a pension funds , and than ::
the owner of the business took out a company loan from the pensionfunds to stave off the collapse of the business and goodbye

the directors took out a directors loan for themselves and forgot to pay it back errare humanum est

gordon brown put his fingers in the till and helped himself

the money neverlanded in the pensionaccounts and was embezzled straight away

Answer 4

Depends on which pension fund. Some were turned over to the Pension Guarantee guys which insure pensions if a company goes belly up. Some just vanished with the value and solvency of a stock, etc. (e.g. Enron).

Answer 5

It was paid to the pensioners who are now living longer. That's what our company said. Every company seemed to realise at the same time somehow, must be a tax dodge thing in there somewhere.

Answer 6

It fairly might no longer be a character through fact the sector of politics is so corrupted there in simple terms are not any leaders who are not tainted. It fairly could be a international enormous occasion and now no longer a properly one on a thank you to make concerns slightly extra beneficial for the survivors. Famine, nuclear conflict, civil wars, revolutions, and a common disaster spring to techniques.

Answer 7

A lot of pensions have gone missing but out of all those who have lost out are there any captains of industry, M.P.s or ministers included in these numbers. It would be interesting to find out.

Answer 8

People like Enron swiped it all. People like big CEO'S needed it to buy a new beach home in the Bahamas. Most of them were blessed by the establisment. ( repubs ).

Answer 9

gordon brown took billions into the gov; money box and spent it

Answer 10

if you haven't already, look up the fable of one Robert Maxwell. Pretty much says it all