Bitcoin in your pension

[Duke of Marmalade]

Absolute nonsense.

Should have known that you are a reincarnation of a Duke troll. I note you didn't answer my question. Don't bother, I'm not interested in anything you have to offer.

 

[Duke of Marmalade]

Taxation of cryptocurrency transactions

Ooops! Got that one wrong. Thanks for the civilised correction.

 

[LDFerguson]

Naïve question: Can I now direct 100% of my tax-relieved pension savings into an index which tracks bitcoin?

I'll refrain from going anywhere near the rabbit-hole of discussing whether or not you should as I suspect that this is a hypothetical question.

But the answer to the direct question is Yes.

 

[NoRegretsCoyote]

I'll refrain from going anywhere near the rabbit-hole of discussing whether or not you should

I know the answer to that

Otherwise thanks for the answer to the theoretical question.

 

[Gordon Gekko]

Thankfully IORPS II will put a stop to nonsensical ideas like ‘investing’ all of one’s pension fund in something like Bitcoin. It mandates diversification and investment via regulated markets.

The EU don’t want people making concentrated punts or investing in unregulated markets.

And they’re right, because with the tax relief, this isn’t just the individual’s money.

By all means, buy the ‘Horse Manure Index’ in a personal capacity, but don’t expect to be able to do it through a tax exempt regulated structure like a pension.

 

[Duke of Marmalade]

@Gordon Gekko Exactly

 

[SGWidow]

Thankfully IORPS II will put a stop to nonsensical ideas like ‘investing’ all of one’s pension fund in something like Bitcoin. It mandates diversification and investment via regulated markets.

But nobody is talking about placing all one's pension in Bitcoin - at least not on this thread.

 

[LDFerguson]

But nobody is talking about placing all one's pension in Bitcoin - at least not on this thread.

Thankfully true, but I think the point is that at present there's no regulation in place stopping a person from doing so. As Gordon Gekko says, IORPS II will change this, but the implementation of this in Ireland has been delayed for other reasons and I don't know when it will be implemented.

 

[Gordon Gekko]

But nobody is talking about placing all one's pension in Bitcoin - at least not on this thread.

Eh, yes they are, you should re-read the thread. Post #17 for example (“can I put all of my pension in Bitcoin?”). Post #7 opening up a debate about whether people should be able to control their pension fund’s investment approach without constraint.

 

[SGWidow]

You're having a laugh.

Post 17 was an enquiry about the cap - not a recommendation

Tecate is the poster in #7. I have seen a few times now where he has said don't put all your eggs into the Bitcoin omelette.

 

[Gordon Gekko]

You're having a laugh.

Post 17 was an enquiry about the cap - not a recommendation

SGWidow: “But nobody is talking about placing all one's pension in Bitcoin - at least not on this thread”

Post #17: “Can I now direct 100% of my tax-relieved pension savings into an index which tracks Bitcoin”

Blessed are those who have eyes to see...

 

[SGWidow]

Post #17: “naïve question: Can I now direct 100% of my tax-relieved pension savings into an index which tracks Bitcoin”

I think the clue is in the word question. Hopefully, NRC will confirm his meaning/intentions. I certainly read them, as I have described.

 

[tecate]

Tecate is the poster in #7. I have seen a few times now where he has said don't put all your eggs into the Bitcoin omelette.

Precisely. Take no notice - there's more salt to be found here than at a Saxa salt packing plant.

Here's one such post from May 2020 when I suggested an allocation of no more than 5% on the basis of that asymmetric risk. There are others.
The "without constraint" claim is a work of fiction.

In December, US Life Insurance Company, Mass Mutual . The first of many.