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Namely, that it's the taxpayer that has paid into the very pension pots which will now be cashed in.
Greedy chief executives, abetted by weak, sycophantic boards, gorged themselves at the expense of savers more often than not the very pension and mutual-fund investors who, as workers, had seen their salaries and benefit packages fail to grow.To add to the grievance, many executives did not seem to deserve such rewards.
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"I concede, I have a very good pension, but what's that pension going to be worth when I'm 70 years old?" Mr. Tassone said.
For example, some people had very small pension funds, on top of other pensions, but were forced to annuitise.
A big company with a very small pension plan, he said, shouldn't have to tell its shareholders about pension accounting errors, since they wouldn't add up to much in the firm's overall financial position.
An analysis of the cabinet's very generous pension packages show that ministers can retire at 60 with lucrative million-pound-plus pension provisions paying them at least £50,000 a year inflation-proofed for the rest of their lives.
"Many people have got a very weak pension position.
"Larry also set up a very good pension plan for the company".
First, unlike health care, the city has put aside specific funds to meet very specific pension promises.
Even when it is up and running, contributions will total just 8%; not enough to generate a very large pension.
Very small pension funds tend not to have the money or the expertise to invest in hedge funds.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com