Pension funds and other institutional investors committed the most money to the UK commercial property sector last quarter, despite fears of a further drop in values this year. Institutional property funds raised more than £3.2bn last quarter, dwarfing the previous peak of £1.7bn in the 2006 boom.
Doesn't that make you feel good to know your future is in good hands? That your hard earned has been trusted to people who buy when things are going down? Whose only interest is in emulating bankers? Probably because they're owned by a bank.
Pension fund reform is long overdue.
We need it now. Because for a start you'll have no idea if it is your pension fund doing this, or not. And when it comes to transparency and accountability that is pretty staggering.