Comments on: Suze Orman Praises Bermuda Pension Policy

By: Kat

Kat — Tue, 13 May 2014 14:30:03 +0000

No, it’s your work pension plan she was talking about. The one you contribute 5% to and your employer matches it… nothing at all to do with government other than the fact that they legislated the idea many years ago. And thanks to them for doing so.

By: Legal Eagle

Legal Eagle — Mon, 12 May 2014 21:44:02 +0000

Is that the same Govt Pension Plan that is underfunded by $2Billion that Suzie thinks is great..AND suggested people put even 10pct more into it?? Wow!

By: Doesn't add up

Doesn't add up — Mon, 12 May 2014 18:56:38 +0000

She was praising the mandatory pension contribution.
You put in 5% and your employer matches it (you’ve doubled your money already).
As simple as it sounds, how many people would opt out if they had the chance?
She also rubbished a lot of financial products available (including ones offered by Colonial).

The biggest disappointment was Chris Furbert being 5 mins late and then the Premier, Grant Gibbons and Pat Gordon Pamplin being 10 mins late. They were on the front row as esteemed guests and their tardiness was embarrassing!!

By: Mumbo jumbo

Mumbo jumbo — Mon, 12 May 2014 16:58:20 +0000

That is another matter….we get our gas cheaper and pay three times the point of sale…or more…

By: Family Man

Family Man — Mon, 12 May 2014 16:57:54 +0000

I can tell you, in the real world you’d never get away with charging 150 bp for administering a plain vanilla pension plan.

And why is the fee based not on the work they do (which is very little) but on the asset size of my plan. Does it cost you more to send me a statement on a plan with $250k in it then it does if there’s only $25k in it?

But as I’m always told Bermuda is another world.

By: Mumbo jumbo

Mumbo jumbo — Mon, 12 May 2014 16:20:40 +0000

There are far more lucrative products out there,mandatory sequestered private investment stratagy in this endeavor….why would I accept 1% or far less,when I am offered 5% elswhere…..balderdash!….I my money is utilised by others to get rich…..then you best believe I am due a larger chunck offit!No offence….but …horseship!

By: Islander

Islander — Mon, 12 May 2014 12:09:45 +0000

So how does she expect us to go about challenging the Banks ? Like really.
Walk in and just demand a lower rate. I will try today and report back.

By: hmm

hmm — Mon, 12 May 2014 12:06:44 +0000

So family man, I’m curious, how do you think insurance company staff get salaries, or should we just work for free and not be able to pay our bills, you are a clown.

I guess wherever you work, you must work for free

By: Ladeej

Ladeej — Mon, 12 May 2014 09:34:55 +0000

Suze Orman calls it as she sees it, regardless of the payer, as anyone in attendance would have discovered. We should be making more noise about interest rates at the banks where we are being “nickle and dimed” to death while receiving almost zero interest in return.

Suze Orman gave us the same good advice our grandparents gave us. We just have not been listening. Maybe her talk was the wake up call we all need.

Thanks to Colonial for seeing the need and bringing someone of Ms Orman’s caliber to Bermuda.

By: Cuddly boy

Cuddly boy — Mon, 12 May 2014 02:59:42 +0000

Agree completely. Like you have any idea Suze. I always found you slightly odious anyway.

By: Archie

Archie — Sun, 11 May 2014 19:40:15 +0000

The Govt policy, sret in places years and yearsa g o…..

By: Family Man

Family Man — Sun, 11 May 2014 18:04:17 +0000

“Ms Orman was brought to Bermuda by Colonial Pension Services Ltd”

He who pays the piper calls the tune.

“Suze Orman Praises Bermuda Pension Policy”

It’s a good thing her pension isn’t with a Bermudian insurance company and subject to a 1.5% per annum ‘administration’ fee.