Pensions

[GJUK]

Who on here has a pension for when they retire? It seems a strange thing to be thinking about at 25 years of age, but who has one?

 

Jon

[Pipster007]

I'm in our company pension since I was 21

[Mk2Jo]

Nope ... might not live long enough to spend it so not going to bother

[SmokeEm]

I'm lucky enough to have a final salary company pension - I get updates each year on its worth

[Vista]

I'm lucky enough to have a final salary company pension - I get updates each year on its worth

 

Are you the last non civil servant left in the country to have a final salary scheme?

 

Yes, I'll have an armed forces pension and also contribute to a private pension plan. I plan on living a long time past retirement age and don't fancy doing it on the state pension...........which probably:

 

a. By then won't kick in till I'm 70 or 75

b. By then will probably be means tested anyway so anyone who's saved for their old age won't qualify.

 

So, in short if you don't want to still be working when you need a walking stick, start saving for your old age now.

[SmokeEm]

 

Are you the last non civil servant left in the country to have a final salary scheme?

 

When our company was bought out it was stipulated that those of us in the final salary scheme were kept on it

 

Also, our board of dierctors are in it so it wouldn't be in there interest to shut it down

[Daggle]

Yep, pay 11% of my wages into it each month, but it is a good one and hopefully will see me right!

[GJUK]

Yep, pay 11% of my wages into it each month, but it is a good one and hopefully will see me right!

 

You're the forum resident helpful police man. I hear they've got good pensions.

 

I guess I'd better start one then

 

Thanks chaps.

[Big_man]

I'm with Vista on this one. Armed Forces Pension Scheme, pretty decent tbh if you do your full service, which i plan on

[Vista]

pretty decent tbh if you do your full service, which i plan on

 

Hmmm, I considered that option but chickened out after 15 years, I'll be waiting till 60 for my thruppence ha'penny from the crown

[stevepeanut]

I'm 35 and still never even looked at getting a pension

[Fiesta Steve]

TBH I believe I need the money more now, I have 3 kids and 5 cars that keep me poor. By the time I'm pissing in my slippers I probably won't have quite so many expensive hobbies

[Fiesta Steve]

If I'm still alive that is, I'm making the most of the life I have now, blowing my money on building fast cars etc.. I'm sure I won't starve to death when I'm old and if I do I won't worry because I know I made the most of the time I had when I was able to have it.

[Smudger105e]

Got my State Pension, for what it's worth

Got a good (Railway) Company pension

Been paying £40 a month (matched) into an AVC

 

I reckon I should manage over £20,000 p.a. on those pensions.

 

I have been paying my AVC since I was 32, I would suggest that everyone pays in as much as they can into a pension scheme as soon as they can, the earlier you pay, the better the payout. I know 60 or 65 seems a long way off to you guys, it did for me not so long ago, but I am now 50. I could be retiring in ten years! Where did all those years go?

[glenbo]

been paying in my pension since i was 16 which my dad talked me into of which i am very grateful as im self employed and a state pension wont be worth bugger all

[GJUK]

Very interesting. I guess everyones different. Self employed, unemployed, council worker, parents are millionaires, do care, don't care, have family they need to support, dont intend on living past 50 etc etc.

 

Very interesting.

 

[deltamal]

Iv'e had my own business for 20 year's with two other partners, two sons are now in the with us and will carry on the firm, don't think I will actually retire, less hours, less days, but still draw wages, (got a company pension in case) the 60's creep upon you quicker than you think, worth making plans....

[Fishtailparka]

I have 2.

They both send me statements from time to time. One will pay me £2.50 a week and the other will pay me 75p a week.

I can't make my mind up on what I will be spending it on.

I don't pay into one any more, and i wish I never did do. As said earlier, i was more in need of the money at the time than when I am retired.

I think my assets will see me through retirement if i make it that far, and don't see that as any more of a gamble than paying into a pension anyway.

Ask people that retired last year how well their pension fund did when they came to buy an annuity.