Victoria Scholar’s advice on how to survive a stock market crash
Yesterday, Hunt said he would “shine a light” on our company pension pots to make our retirement savings work harder. He plans to force firms to publish their performance figures on a pension fund comparison site, to show how well they’re doing.
It’s a good idea but will probably never happen. Pension companies will do their level best to kill it off, just as they have with the perennially delayed pensions dashboard.
Hunt has another plan. This one is a bit more worrying.
He wants pension funds to channel the tens of billions they take in member contributions into the shares of British companies rather than foreign ones.
Again, it’s a great idea: a “Buy British” campaign for investors. There’s only one problem. UK shares are among the worst performing in the world.
If Hunt forces pension managers to channel our retirement savings into domestic stocks, we …