Chit Chat
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innit ....
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69 and nowt
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56 AND 150 grand ,but unfortunately just lost my job ,so looks like i,ll be starting to access it when i,m 60 if things dont improve round here, its in a sipp. might have to take about 10 grand a year out of it to get by till i,m 66 and use anything left to top up my state pension which currently is fcast to be £141
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Probably unlikely for pension peeps to give that sort of info out on here.
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average 65 year old in uk has £35k and it gets him £1850 p.a. - assuming he lives to the average age of 85- plus state pension
1st time poster: its something- but nowhere near enough i saved like billio for my pension and took it at age 50 - following retirement at 48 believe me you whippersnappers - you need to get stuck in to some serious saving if you want to be comfortable also: keep it in yer troosers - a divorce will crucify all your plans  |
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£0
saving a nest egg/state pension no mortgage |
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"a divorce will crucify all your plans"
A guy at work who must be .. mid/late 40s I suppose, has managed to get into a comfortable financial position twice in life so far, but been married twice, been screwed twice.    He'll probably end up in a damp bedsit if he goes for number 3. |
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xmoneyx
savings good but you miss out on tax breaks on pension contributions..... |
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Final Salary Pension Scheme.
 What a great wheeze that was. Glad I've got one! |
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No where near enough in pension pot but have bought bricks and mortar as a safeguard.
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parispike 05 Dec 15 09:21
Final Salary Pension Scheme. Cool What a great wheeze that was. Glad I've got one! Me too, 25+ years in too. |
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^ They're going to flip those to average lifetime salary.
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the wifes got 38 yrs in the bt pension scheme and a bucket full of bt shares so forcing divorce situation might the best way forward for me, LOL,
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The Leopard 05 Dec 15 11:40
^ They're going to flip those to average lifetime salary. Hope not! :( |
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Pension funds are putting bigger and bigger percentages into equities. They will crash and you will lose your money.
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36 y/o.
Fook all. |
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only 2 amounts to have in a pension absolutely nothing or 350 grand plus,anything in between like mugs like me,just stops you getting means tested benefits ,pension,obviously minus the money you could have spent but squirreled away
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1st time poster 05 Dec 15 13:16
only 2 amounts to have in a pension absolutely nothing or 350 grand plus,anything in between like mugs like me,just stops you getting means tested benefits ,pension,obviously minus the money you could have spent but squirreled away. 100% correct..thats all you need to know. |
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58 and £215 K all in a SIPP
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No where near enough in pension pot but have bought bricks and mortar as a safeguard.
Are you a "bricky"? |
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All mine is in a SIPP and I buy shares not funds. If you like property then just buy shares in a property company. Easy to collect dividends rather than fixing toilets and chasing tenants for rent when you are 90.
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You wouldn't use your annuity pot to go into BTL anyway because of the tax implications.
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32/60ths of a Final salary scheme. No mortgage and a flat I rent out for ££750 pm. Currently 50 yr old. Begging for redundancy and that'll be the end of my 'proper' working days. Maybe get a paper round, walk some dogs, pet sit etc.
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I don't really buy into the sort of "younger generation have been shafted by the baby boomers" thing, but there is a valid point that final salaries were wonderful for those who can get them, and property is too expensive now. But that's not because any older generation deliberately did anything to screw over those below, just the UK property market and attitude to it is dysfunctional, and that final salaries just weren't a sustainable idea. I've no final salary scheme but some in a pension pot. But I don't think that's a bad idea despite what's said above, AFAIK it's been realised that means testing "disinsentivises" (sp, ffs what a word) saving which is why they are moving towards preventing that.
But who says we want to retire in the UK anyway? If you've savings, you have the ability to f*** off. If you don't, you have no options. Options are good. |
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I'd ;like to thank hills,corals,victor,lads and all well known bookmakers for their contribution to have been able to retire in my 40's without relying on any sort of pension!
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I pay 3% of salary into pension. Company pays 5%. Take into account the tax relief I am getting over three quid invested for every one quid of take home I effectively invest. Is there really any circumstance where I should be opting out of this deal. Been paying in for 4 years now, dont know how mch is in the pot. Wish I could be more involved in where it is invested mind.
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^^^ You pay about a months salary a year into your pot then? If I started one tomorrow and paid into it for the next 30 years, it wouldn't be worth having imo.
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No I pay 3pc, about 10pc goes into the pot.
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At last check, 26% was going in per month.
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although a good idea on paper conditions such as caps on charges the ability for customers to move and access their pots as they wish doesnt give pension companies any great incentives to get off their backsides and pull their puddings to get the best investment decesions for their customers ,especisly people with small,average size pots ,ie the majority
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final salary schemes are great for those who will work long years and retire at 60+
but may be inappropriate for a retirement at say 55 I believe that to be comfortable you/ a couple need you own home + a minimum of £24k p.a. net if you cash in part of you pension to fund (say) £6k net p.a. from savings as a bridge until state pension kicks in - and then have £24k net - you shouldn't be doing too badly- imo of course - anything on top is bunce and puts the icing on the cake oh once you retire its time to stop saving - and for those in the position to do so - tell the childen that you are a pensioner now and that the bank of mum and dad has closed dont wory about them- they can find their own way |
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lmfao good point about saving,its not easy for people who,ve been savers all their lifes to suddenly change and live a life where spending every penny every week if needed , isnt a problem
my inlaws change their shopping habits,days out,social life etc and bragg about saving out of their pensions and worry about leaving enough behind for their kids and grandkids |
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42 £0
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what's a pension?
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I think it's one of those little treats they use to keep employees doing what they're told.
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No thanks....Id rather be put into a home, mental asylum or sent to jail.. than contribute to a pension.
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52 - £310k & looking forward to my 55th birthday
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Blimey don't throw away the next three years
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25% of that, tax free when I'm 55. But the way my luck is..... the rules will change again or a major crash in the next 3 years
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if you're worried about a crash,why not take it now?
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