• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

pensions

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    pensions

    do people here pay into a pension ? I've one left from my permi days, but don't pay into one now.

    I think that if I put the same amount of money into housing as I'd put into my pension I'll be better off in the long run, also I can always cash in my housing, but I can't cash in my pension......

    thoughts ?
    SA says;
    Well you looked so stylish I thought you batted for the other camp - thats like the ultimate compliment!

    I couldn't imagine you ever having a hair out of place!

    n5gooner is awarded +5 Xeno Geek Points.
    (whatever these are)

    #2
    N5,

    this is an extremely important subject for us lot,

    having grown up in the UK and seen:

    a, so many pension funds depleated by company failures

    b, so many pension funds badly invested

    c, so many pension products mis-sold

    d, so many pension products not deliver what they were projected to deliver and the people only finding out about this about 2 years or so before retirement


    that I have come to the conclusion, I'd rather create my own pension and if I am unfortunate that it does not deliver I have myself to blame and nobody else

    history has shown, a balance of property, stocks and cash is a sound pension plan

    what does the rest of the congregation think ?

    Milan.

    Comment


      #3
      Originally posted by milanbenes
      N5,

      this is an extremely important subject for us lot,

      having grown up in the UK and seen:

      a, so many pension funds depleated by company failures

      b, so many pension funds badly invested

      c, so many pension products mis-sold

      d, so many pension products not deliver what they were projected to deliver and the people only finding out about this about 2 years or so before retirement


      that I have come to the conclusion, I'd rather create my own pension and if I am unfortunate that it does not deliver I have myself to blame and nobody else

      history has shown, a balance of property, stocks and cash is a sound pension plan

      what does the rest of the congregation think ?

      Milan.
      I think you should shut up and concentrate on digging your virtual swimming pool.

      Comment


        #4
        for what I understand with a pension, there is only a % you can take as cash the rest is an anuity, this will pay a certain amount each month for the rest of you life, so if you had a flat that the rent was £1000, and had it mortgage free by the time you wish to retire, this is paying your anuity.


        Now imagine if you had 3 or 4 flats paying that, so if you wanted a cash lump sum ether sell one flat or re-mortage it, making sure the rental would cover the mortgage.

        Seems to me that this is the way to go......
        SA says;
        Well you looked so stylish I thought you batted for the other camp - thats like the ultimate compliment!

        I couldn't imagine you ever having a hair out of place!

        n5gooner is awarded +5 Xeno Geek Points.
        (whatever these are)

        Comment


          #5
          Spod,

          less of it,

          do you have anything useful to add to this thread ?


          for those of us wretched unfortunates who are not born into
          landed old money families, this is an important subject

          Milan.

          Comment


            #6
            Originally posted by milanbenes
            Spod,

            less of it,

            do you have anything useful to add to this thread ?


            for those of us wretched unfortunates who are not born into
            landed old money families, this is an important subject

            Milan.
            Ok, the UK private pension scheme is a complete rip-off. Just take a look at annuity rates! Bloody shocking! They should be hung etc.

            Comment


              #7
              Originally posted by milanbenes
              Spod,
              Like it!

              Comment


                #8
                I haven't had a pension since my permie days. I don't want one either. I know you get tax breaks but I don't want to put my money somewhere I can't get at it. And I also want the choice to do what I want with it when I retire.

                Older and ...well, just older!!

                Comment


                  #9
                  Originally posted by n5gooner
                  for what I understand with a pension, there is only a % you can take as cash the rest is an anuity, this will pay a certain amount each month for the rest of you life, so if you had a flat that the rent was £1000, and had it mortgage free by the time you wish to retire, this is paying your anuity.


                  Now imagine if you had 3 or 4 flats paying that, so if you wanted a cash lump sum ether sell one flat or re-mortage it, making sure the rental would cover the mortgage.

                  Seems to me that this is the way to go......
                  N5,

                  the main thing about pensions seems to be that the rules change every year thanks to to our new PRESIDENT / MESSIAH / MONARCH El Gordo
                  Your parents ruin the first half of your life and your kids ruin the second half

                  Comment


                    #10
                    Originally posted by MrsGoof
                    N5,

                    the main thing about pensions seems to be that the rules change every year thanks to to our new PRESIDENT / MESSIAH / MONARCH El Gordo
                    yea, was talking to my dad the other night, he retired 5 years ago but has not drawn on his pension yet, said he's lost 1/3 through rule changes.

                    I'd ecco what ratewhore says; "I don't want to put my money somewhere I can't get at it. And I also want the choice to do what I want with it when I retire.
                    "
                    SA says;
                    Well you looked so stylish I thought you batted for the other camp - thats like the ultimate compliment!

                    I couldn't imagine you ever having a hair out of place!

                    n5gooner is awarded +5 Xeno Geek Points.
                    (whatever these are)

                    Comment

                    Working...
                    X