We've heard a lot about savers and the possible loss of their money if their bank goes bust but what about the lowly employees of the banks? Will the pension funds of current employees, deferred pensioners and actual pensioners disappear if their bank goes bust? Could someone who has worked for one of the clearing banks for, say, 30 years find that they have no pension when they retire?
In message , Alasdair wrote
It's probably the same risk as with the pension funds for other people - unless the funds were managed by the expert financial advisers employed in the average bank.
Mine is protected by joint and several liability of UK universities. Technically Oxford would have to sell some dreaming spires to get me my pension. I rather like the idea of being the reason universities are privatised.
FoFP
In message , M Holmes wrote
Surely if those spires were already mortgaged selling them could give you a pension pot of zero? Icesave savers were also protected by a compensation scheme that appears to have zero assets.
I'm sure if we root around under the sofa we can find a student hall or a library to sell.
FoFP
Not if asset prices crash. Maybe you could send round some of the undergraduates to cook and clean for the pensioners.
Need I go on........d*****ad, lets do this slowly, a large business wants aloan ffrom a number of banks, many banks particapte, business gets loan, are you with it so far, now that loan gets into that companies books and that loan is RATED by MONOLINES as either triple A or way down to C....it happens in the UK as well as the US, now the monolines are the guys who rate and put the insurance on that loan.
Now going even more slowly for adickhead like you, large company fails and that loan needs paying...remember its been insured before all those nice banks would grant it and guess what the MONOLINES cant pay either...whos AIG do you really wnat me to go on
Nope I suppose you dont
Dearest Derek.....cy there
BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.