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Strange case of Brown and the lost 5bn

What a strange letter from Kevin Neil of Parker Kelly Financial Services, saying he does not believe the 5bn lost to pensions since Gordon Brown took over.

He thinks that all schemes are final salary invested in fixed interest. That is not the case.

He has not taken into account that there is eight years’ worth of new personal pensions.

I know that some of the final-salary schemes have moved back into equities following the improved market and I believe that 5bn over eight years is very conservative.

Perhaps, it would be poss-ible to have the exact figures produced by an actuary. All the insurance companies could produce figures, even if they might be reluctant to do so.

BGW Jamieson
Principal,
Jamieson Financial Management

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