Who has thought about their pension?

Do you have a pension sorted?

  • Yes I am paying into one

    Votes: 18 66.7%
  • No, whats the point?

    Votes: 3 11.1%
  • What's a pension?

    Votes: 3 11.1%
  • I'm thinking about it!

    Votes: 3 11.1%

  • Total voters
    27

Mike

Gestapo
Platinum Member
Does a pension bother you? Are you paying into one? Or is it a case of "wait and see"?

I'm doing salary sacrifice scheme, 5%. Apparently, my take home pay is more if you do a SS pension, it certainly is for the wife lol!

I know there are lots of pensioners on here already who will all tell you to get started asap!

So, have you got one in place?
 
As long as the goverment dont steal it off me in 30 years I shud have a decent pay out and retire on half my last 5 years wage on average
 

Arran

I Love Lamp
Platinum Member
I want one, but can't afford it at the moment on the terrible wage I'm on.
 
I have about 12% salary monthly going into my company scheme.

I pay avc of 3%, the company matches it, and puts an extra 6% in on top iirc. Or it might be 8% with 14% total. Will have to check.

It's the only way I will get a pension, as the govt will have probably stopped paying out for pensions by then.
 

Adrian

Platinum Legend
Platinum Member
I have a work pension. Not going to be worth much at all. Better off keeping it in an ISA !
 
Havent had one upto two years ago, was contracting until i began with my current employer - i'm not sure of the specific percentages, but looking at my latest pay packet, this month i paid £125 into it, employer paid £361 - soooo ...ummm, £486 pcm into my pension.

Until i started with them, i had the outlook that i would just downsize my house when i retired, add that to my government pension, voilà!

..just remembered, got to buy a house to do that!!! .... thats why i now got a Clio!!! ho-hum
 
I know there are lots of pensioners on here already who will all tell you to get started asap!

When i was in my early 20's i went out with a financial advisor - she advised me to get pension, well, tried to sell me one, relationship didnt last long :lol:

Such was my mind set back then. I'm 39 in a week, mind set now slightly different - i wish i'd gone for it, the same as i wish i had bought a house, i know i'm not exactly ancient (..yet) but time does go so quickly, i really can identify with the afore mentioned pensioners now.

So - do it! Get one! (pension and house!!) :-p
 
I was going to set one up when i came out of my time. I was in and out of work for abit though and with me staying on at college for a few extra years I decided to wait until I become qualified and work full time before setting anything up.

ATM the goal for me is just to survive every month and keep a roof over my head. ( it's poor only working 30 hours a week )
 

Roy

clio197.net legend
im on a final salary pension from work +private 1 took out 30yrs ago
prob be worth nothing when i retire
 
I have several old small final salary pension schemes and I pay into a SIPP with Hargreaves Lansdown..

I review the fund selection regularly and get projections so I know what I am expecting in retirement (which is not that long off..)

I agree completely that you should plan ahead for your retirement, and anything saved is better than nothing (and the state pension is nowt) . Pensions are obviously tax efficient, and whilst some may not like the inaccessibility of the money, that's probably a good thing for me :wink:

Don't forget that employers will be obliged to offer a pension scheme called NEST (it's not quite compulsory to join, but you have to formally opt out) from 2012-2016 onwards

Whether someone chooses choose pension or ISA (or Buy to Let property) is their choice, but you don't get many employers contributing to ISAs...
 
Pension all the way, your company and the tax man are giving you free money towards it... you'd have to be mad not to.

It's alright saying I can make more in an ISA/on the stockmarket, but can you really? and can you afford to lose it all should you make a bad decision??

I've got an old school civil service final salary scheme. It's an absolute gift.
 

Foxspeed

"the new red baron"
Moderator
Pension all the way, your company and the tax man are giving you free money towards it... you'd have to be mad not to.

It's alright saying I can make more in an ISA/on the stockmarket, but can you really? and can you afford to lose it all should you make a bad decision??

I've got an old school civil service final salary scheme. It's an absolute gift.
well said !

i have one and pay 6% in to it - its gone from final salary to a career average jobbie but the years on final are "protected"

as for what i will end up with depends on if the witch wants her cut :argue:
 

jase

Founder
Platinum Member
ive got 3.
2 with past employers and 1 with current employer.
been paying into pensions since i was 20 and now im 38.
cant transfer them all to 1 due to the withdraw/transfer clauses in them :worried:
pain in the backside keeping track of them all.
 
i have mine from work retire at 55. payout is based on 2 months salary per year times years served. monthly payout is based on last 2 years salary divided by 24 then 75% of that apparently
 
Had a stakeholder pension with the bank for a few years now and been managing to plough a fair wedge into it over the past few years so its doing quite nicely :smile:

Plus i dont intend to work a day past the age of 50 lol