UK Gov came up with this brilliant idea that we all should funnel money to nazi sympathisers like Musk, slavers like Bezos and reptiles like Zuckerberg. Just 1-2% of your salary will keep these bastards afloat for long long time!
How? It’s simple. Since you cannot trust the government to still have your money after 40 years of work because they dilute GBP by 10% a year, they decided to put your money in private hands of pension companies which in turn invest it in ETF funds. These funds, if you look inside are pretty much all based on S&P 500 and that beast is made in 38% of 10 tech companies. (Meta, Google, Tesla, Nvidia, Amazon…)
So while you work for barely enough to live, having your salary slashed by inflation every year and trying to save for retirement these lovely business people sell the shares that they award to themselves every quarter and laugh while laying off workers thanks to AI and automation, so they can earn more through “cost cutting”.
I’m sure in 10-20 years when you and thousands of others hope to withdraw your hard earned pension from stock market it will be higher then ever, stocks only go up, right?
Sorry, I almost forgot what was the point of this pot - change your pension plan to SIPP, find an honest company and invest in it instead. Don’t feed the monsters. Thanks.