D
doug boardley
As title suggests really, how many of us have a pension plan in place?
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M
mikethetile
ive got severral pensions that are worth diddly squat
one I took out when I was an apprentice and is paid for, I get a £2000 lump sum that I can reinvest for an income
the other will pay about a fiver a month
what were they all about and what a waste of money
no its sell the property and move into rented for me, or buy a park home on the coast
one I took out when I was an apprentice and is paid for, I get a £2000 lump sum that I can reinvest for an income
the other will pay about a fiver a month
what were they all about and what a waste of money
no its sell the property and move into rented for me, or buy a park home on the coast
D
Deleted member 9966
obviously I have a different occupation to you guys, so since starting work I've always paid into a pension of some kind. I am currently paying into a stakeholder plan that my company contributes to, as they closed their final salary scheme about 10 years ago. Last time I got an update from RBS about my pension with them they said I would need to save around £285,000 to retire on about £10,000 a year. I guess I'm one of the lucky ones in that I have another 40 years of work ahead of me anyway.
U
user123
Nope, no plan, similar story to Mike's....
U
user123
Good grief... :yikes:
D
Deleted member 9966
hence why the government are concerned that people are not saving enough for retirement. The current state pension is a mere £97.65 per week which equates to just over £5000 a year.
M
mikethetile
are you 20 then Liz LOL
i have been paying into a pension since i was 18 yrs old, i had to freeze it for a couple of yrs during the last recession, but i am currently paying £200 a month into 3 pensions.
the plan is when i get older to cash in 1 or 2 of them and cut my work load (depending on what there worth).
the plan is when i get older to cash in 1 or 2 of them and cut my work load (depending on what there worth).
D
Deleted member 9966
national retirement age is going to be raised to 68 by 2020 Mike, and I still have another 25 years of work beyond that, so I'm fully expecting retirement ages to be 70+
M
mikethetile
are you going to be retiring at 93 then Liz
nor me keeps cutting back to a refresh page and a sorry the forum has got a few probscant even get to the smilies.
D
Deleted member 9966
no Mike
M
mikethetile
I see what you mean now Liz
I misunderstood your last post, I doubt retirement age will rise to 70 it will probably come down again if people pay higher contributions into their pensions, one of the main problems now is a prolonged historicly low interest rate of 1/2 %
theres no money in pensions now so they are predicting raising the age to 68, doesnt mean it will happen
I misunderstood your last post, I doubt retirement age will rise to 70 it will probably come down again if people pay higher contributions into their pensions, one of the main problems now is a prolonged historicly low interest rate of 1/2 %
theres no money in pensions now so they are predicting raising the age to 68, doesnt mean it will happen
S
Stewart
I have a pension but stopped payments and put it on hold 10 years ago, after a meeting with my financial advisor. It was recommended that I double my payments to receive a reasonable pension at 55, which i thought was a joke...... i handle my own pension now and i think I'm doing a better job than any investment company, without the charges, and I'm in full control of it.
D
doug boardley
i don't have one, but I'm not planning on retiring, especially if my 2 lads go to Uni (hopefully!)
A
Aston
im with doug
i aint planning on retiring..the best pension is an income!! and the best way to fend off old age is a motivation lol..i intend to make the most of this recession and find new doors to new business's. i want to grow aston tiling but also get back on the property ladder when the times right and to open a shop that the wife can run, which inturn can lead to more growth...
as stewart said, you can do a better job managing your own finances especially with the internet at your disposal...the thought of retiring depresses me. i am going to keep going in one way or another till i drop...
i aint planning on retiring..the best pension is an income!! and the best way to fend off old age is a motivation lol..i intend to make the most of this recession and find new doors to new business's. i want to grow aston tiling but also get back on the property ladder when the times right and to open a shop that the wife can run, which inturn can lead to more growth...
as stewart said, you can do a better job managing your own finances especially with the internet at your disposal...the thought of retiring depresses me. i am going to keep going in one way or another till i drop...
T
Thespanishtiler
2nd property and 3 frozen pensions, never going to pay other people to look after my hard earned cash again.
D
Deleted member 9966
how I'd love to be in the same position as you Spanish 🙂
D
david campbell
i decided to invest in property when quite young as with the other 1/2 working with hmrc i was quickly informed that my pension would be tantamount to zilch when i retire due to always being self-employed
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