As per recent statistics fewer people have found place in the gold plated company pension schemes when compared to the last three years. Latest figures from the Office for National Statistics state that the occupational pension scheme member numbers has nosedived from 9.8 million to 8.8 million in the year 2007.
Other statistics reveal that the open occupational pension schemes number came down by 4,000 members with overall figures dropping by 5,300. The final salary schemes are expected to offer liberal pension to people depending on their salary and duration of service but all this is changing and a number of companies are now unable to deal with the rising load of final salary schemes due to increasing life expectancy, crippling deficits and poor investment returns.
Several companies have closed these schemes and replaced them with money purchase schemes. If we talk about money purchase schemes they are entirely different as in this case the pension relies on the contribution of employee and employer towards the fund. The employers are required to make lesser contribution of around six percent as compared to average contribution of fifteen percent.
In case you are thirty years of age earning £25,000 per year then you need to have contributions worth 19.9% of their earning every month in case you are looking forward to retire with two thirds of their salary.
All the blame for this fiasco has bee put on £5bn annual tax raid by Gordon Brown on company pensions which started off in late nineties leading to the end of occupational schemes. At the end of the day Gordon Brown’s stealth tax raid has led to long term damage to the UK pension system.
If your pension does not suffice your needs then you can surely supplement your income by becoming involved in a new form of investment known as sports arbitrage trading. With the availability of latest software you can go through global prices within seconds and get returns to the tune of 12% every month.
The world expert on sports arbitrage trading is Rajeev Shah, author of ‘Sports-Arbitrage – How to Place Riskless Bets and Create Tax-Free Investments’ and he explains: ‘An arbitrage occurs when different bookmakers’ prices on the same events overlap. In these cases, it is possible to bet on all of the outcomes in that event in such a way as to be guaranteed a total return which is greater than the total outlay’.
Recently, moreover, profits generated from sports arbitrage trading have been declared tax free by the UK Government.
Shah goes on to say ‘The mathematics of this type of trade are precise & the resultant profits are free of all risk. This type of trading has become possible only because the internet provides a platform for transparent price discovery. Using state-of-the-art software called ArbAlarm, ordinary people can now easily profit from this unique method of investment’
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