| View previous topic :: View next topic |
| Author |
Message |
Real Reality
Joined: 10 Jan 2003
Location: Seoul
|
 Posted: Thu Jul 31, 2008 2:39 am Post subject: Pension Fund Loses Trillions |
 |
|
Pension Fund Suffers W4.2 Tril. Loss
By Park Hyong-ki, Korea Times (July 31, 2008)
http://www.koreatimes.co.kr/www/news/nation/2008/07/123_28593.html
| Quote: |
| The National Pension Service (NPS), the country's operator of pension funds, lost some 4.2 trillion won, while investing public funds in stocks during the first half of this year.... |
|
|
| Back to top |
|
 |
captain kirk
Joined: 29 Jan 2003
|
| Posted: Thu Jul 31, 2008 2:43 am Post subject: |
|
|
| Uh, the gov't invested money and lost it? 4.2 TRILLION won? Messing with pension fund money? This sounds very, very wrong. Is it going to affect FTs whose pension is sitting uncollected with the pension office? I've got 6 million with them now I think it is. |
|
| Back to top |
|
|
inthewild
Joined: 28 Mar 2004
Location: Korea
|
| Posted: Thu Jul 31, 2008 3:01 am Post subject: |
|
|
| Wtf shed? Record a net loss? So I guess this means they're actual realized losses...? That'd be hot. |
|
| Back to top |
|
|
Whistleblower
Joined: 03 Feb 2007
|
| Posted: Thu Jul 31, 2008 3:13 am Post subject: |
|
|
| I guess that the NPS will blame the foreign funds and the American market for the loss. Anyone with me? |
|
| Back to top |
|
|
bobbyhanlon
Joined: 09 Nov 2003
Location: 서울
|
| Posted: Thu Jul 31, 2008 4:27 am Post subject: |
|
|
| story about nothing. the market went down, so of course they lost money. when it goes back up, they'll make money. but nobody will be shouting 'wow, they made 4 trillion won!' then. |
|
| Back to top |
|
|
Trevor
Joined: 16 Nov 2005
|
| Posted: Thu Jul 31, 2008 5:01 am Post subject: |
|
|
This is the correct answer, however it brings to mind another question I have. How is my pension money invested? I am in two funds. A private university fund and a public university fund. I have no idea what the interest rate is on either. In the United states, you can usually select where your retirement funds are invested. Can anyone shed light on this?
| bobbyhanlon wrote: |
| story about nothing. the market went down, so of course they lost money. when it goes back up, they'll make money. but nobody will be shouting 'wow, they made 4 trillion won!' then. |
|
|
| Back to top |
|
|
wylies99
Joined: 13 May 2006
Location: I'm one cool cat!
|
| Posted: Thu Jul 31, 2008 5:06 am Post subject: |
|
|
| bobbyhanlon wrote: |
| story about nothing. the market went down, so of course they lost money. when it goes back up, they'll make money. but nobody will be shouting 'wow, they made 4 trillion won!' then. |
Agreed. |
|
| Back to top |
|
|
Return Jones
Joined: 06 Feb 2004
Location: I will see you in far-off places
|
| Posted: Thu Jul 31, 2008 5:28 am Post subject: |
|
|
| 4.2 trillion won? That's like 1500 bucks. Right? |
|
| Back to top |
|
|
hagwonnewbie
Joined: 09 Feb 2007
Location: Asia
|
| Posted: Thu Jul 31, 2008 2:56 pm Post subject: |
|
|
| I think everyone earns 1 percent a year on their pension. Isn't that correct? |
|
| Back to top |
|
|
Trevor
Joined: 16 Nov 2005
|
| Posted: Thu Jul 31, 2008 6:20 pm Post subject: |
|
|
If it is, then the pension planners have an easy job. They can take my money, go over to their local bank which is now paying 6.7% a year on a CD, give them my money, keep 5.7% of the earnings and give me my 1%. Not too shabby (for them).
I'd obviously be better off managing the money myself. Does anyone else know anything about how pensions are inversted?
| hagwonnewbie wrote: |
| I think everyone earns 1 percent a year on their pension. Isn't that correct? |
|
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
