Three million pensions to suffer savings shock, experts predict

Many could see their income they earn on their savings drop by more than half if they are currently locked into short-term savings deals that offer high rates of return, experts warned. Full Story »

Posted by Michael Bugeja
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Posted by: Posted by Michael Bugeja - Dec 16, 2008 - 2:28 PM PST
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Edited by: Kaizar Campwala - Dec 17, 2008 - 8:11 AM PST

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3.8
by Patricia L'Herrou - Dec. 17, 2008

not in depth (ex. no comparisons of savings versus investments and losses pertaining to each for the same groups or risks of inflation) but many important facts about the effect of cutting interest rates so deeply.. what's impressive is that the newspaper itself led the research about this. altho it's u.k. info, the same factors effect the same groups of people in the u.s. with little impact so far in our media.

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3.6
by Michael Bugeja - Dec. 16, 2008

Finally, a news story that covers what the U.S. media have either forgotten, are ignorant of, or are just plain too capitalistic to acknowledge: When the Feds cut interest rates to near zero, people who didn't gamble or take risks or max out their credit cards are the ones who suffer--mostly elderly on fixed income. Their savings accounts won't provide the means to subsist, and many will lose their houses with no government bailout for that.

Shame on the media for focusing only on mortgage rates associated with the subprime and the government for propagandizing that and the credit ... More »

He said: "Following a period of high, inflated savings rates many will have benefited by locking into fixed rate bonds. This will see a vast number of savers facing a ... More »

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4.0
by Glenn LaBauve - Dec. 16, 2008

The story is the same most of the world over where pensions have been more privatized. In some countries the crash has meant putting off retirement ... More »

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