[BITList] British Pensions in Australia Blog

[John Feltham]

Begin forwarded message:

From: Peter Morris <petermorriscpa at gmail.com>
Date: 26 April 2010 2:25:18 PM AEST
To: bep at yahoogroups.com
Cc: 'Eric Youle' <exy at youle.info>
Subject: RE: [bep] British Pensions in Australia Blog
Reply-To: bep at yahoogroups.com


Hi Eric

Thanks for that – an interesting site.

One piece of feedback I can provide is that in Point 7 of the BPiA “Factsheet” the information you have shown about the interest earned by the National Insurance Fund (NIF) is way off the mark.

The “Factsheet” quotes an interest earned figure for the NIF of £2.4 billion for the 2009/10 year whereas, according to a recent Freedom of Information Act request response to me from the Debt Management Office, where the NIF is invested in Call Notice Deposits, the correct figure is closer to just £280 million, in this low interest environment.

The NIF is earning around 0.50% interest on a balance that has reduced from £51 billion to around £45 billion.

I am trying to find out why the balance has reduced so much because the Government Actuary Department had forecast a balance of £55 billion for the 2009/10 UK financial year, so a £10 billion reduction that cannot be completely explained by the economic downturn.

Peter Morris

President

BAPA



Check out the new Blog at...

http://www.bpia.org.au
 

From: bep at yahoogroups.com [mailto:bep at yahoogroups.com] On Behalf Of Eric Youle
Sent: 25 April 2010 23:43
To: bep at yahoogroups.com
Subject: [bep] British Pensions in Australia Blog

 

 

Hi All

I have just converted the BPiA web site to a Blog. And would appreciate your taking a look and providing feedback.

the URL is www.bpia.org.au

Thanks in advance - Eric



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