So, is Vince out of a job?

Not for those dealing with the fallout!

 

I'm in the finance industry, and you can **** right off with a
sparkler up your arse for all I care.

 

Die in debt and you're ahead of the game.

 

Indeed, mine is. If the company don't pay their agreed % then they're
in breach of contract by not paying me my agreed salary.

The only time they don't have to put their bit in, is if I don't pay
my bit in.

 

There's only so much sitting around on my arse I can do. I'd rather
do something, and that something may as well pay me some money.

 

I noticed you fiancayal type cunts were very quiet after the crash.
After shouting down any attempt to draw attention to the utterly
unsustainable state of the world ebb and flow of funny money.
Fucking priceless.

 

The Goldfish Generation?

 

No, I wasn't.

I don't understand your banter old chap.

Well, as my responsibility in all this extends no further than making
sure one of the UK's largest pension providers main investment fund is
properly accounted for, perhaps I didn't feel all that culpable.

 

Very possibly, but that's down to individual companies, not
legislation. It obviously doesn't apply to the cases TBC raised.

 

You really are making yourself look a bit of a twat you know. What
involvement do you think the likes of Dodger, Champ & myself had in
the crash? Do you think everyone involved in financial services was
responsible? Do you scream & shout at the clerks in your local bank
when you go in? After all, they work for a bank so they must've been
partially responsible, right?

 

In law (Barber judgement, 1990), occupational pensions are deferred
pay. So it is relevant. The contractual position is that an employee
pays a contribution, the employer likewise, on the understanding that
they are storing up pay to be paid out later in the form of a
pension. Taking money out of the pension fund and not paying the
pension is stealing pay.

 

It does apply: an occupational pension is deferred pay, defined by
contract.

 

So how many of the companies that did it were prosecuted for theft &
ordered to pay the money back? It must've been all of them surely if
they were stealing from their employees.

 

Your pension is a money purchase type though isn't it, so in essense
your investment and your companies buy into funds with a view that
they should rise as the stock market, etc. does. (Mine is like this
too)

Old school pensions were often run as a standalone buiness that
managed the delivery of a defined benefit, frequently based around
final salary, and once their pot of money looked ok the companies
stopped funding them.. leading to later problems.

 

Of course not because it's a conspiracy between the evil capitalists and
the government.

 

So the companies that stopped contributions in the '90s were all in
breach of contracts they had with their employees were they? I think
not.

 

Well, none, obviously. It's lawful theft.

 

The point is they don't legally have to put anything in (yet), or have
that contract with you. It's their choice to do that, & that's why
it's a voluntary perk.

 

So not theft at all.

 

Morally, precisely theft: taking away money that belongs to someone
else.