How will you prepare for pension poverty?

[BrilloPad]

Pension firms preparing for customers to live to 125 - Telegraph

Because of sluggish economic growth and record low interest rates many people now see the conventional approach to saving during their career and buying an annuity on retirement as "poor value", he warned.

"We need to find a way to encourage more people to save more for longer, at a time when the outlook for returns is uncertain at best. And at a time when many have high levels of personal debt or face the risk of unemployment," he said.


Surely a good reason to just spend it all?

[DimPrawn]

My house is my pension. That's what 95% of Brits say when asked.

[The Spartan]

I've adopted that approach lately, it seems pointless to save as interest rates are incredibly low. Other than the money I have put into the Warchest, all my other money is going on paying extra off my mortgage and redecorating the house to a high standard.

[The Spartan]

My house is my pension. That's what 95% of Brits say when asked.

As much as I hate to keep bashing scroungers (yeah right), they'll get a state pension if it exists when they retire after contributing very little or nought.

[mudskipper]

self-euthanase when the dosh runs out.

[BrilloPad]

I've adopted that approach lately, it seems pointless to save as interest rates are incredibly low. Other than the money I have put into the Warchest, all my other money is going on paying extra off my mortgage and redecorating the house to a high standard.

Oddly in the seventies when inflation was high people tried to save harder. But in those days I suppose everyone is feckless.

[ctdctd]

You mean the Retired Contractors Association will not provide?

I thought the premiums for it came out of the subscription payments to CUK?

[Support Monkey]

Paying the retired a pension??? Are there no prison's no workhouse's, then let them go there, but some would rather die, then let them die and thus decrease the surpluss population

I shall throw myself on the mercy of the state

[lilelvis2000]

Pension, retirement this words do not exist in my dictionary. I've to hack away at this 'job' for another 40 years yet - or I die first. Well its either that or move to a mumbai slum and live cheap. Don't think the wife will appreciate it however.

[Gentile]

There was a member of the House of Lords calling for pensioners to have their pensions cut if they refused to do unpaid work recently. Hey, isn't that whole not working thing why they call it retirement? And isn't it meant to be a privilege that you've bought and paid for, increasingly without any say in the matter, rather than a means-tested benefit?

Remember the above attitude when it comes to deciding whether you want to opt out of auto-enrolment in purchased private sector pension schemes that are likely to be treated as means-tested benefits by the time it comes to pay out. Pension schemes are a bad joke that the insurance industry and the government plays on the general public. They're merely the markets' way of conning present day workers out of the funds they need to keep the public sector and financial markets' gravy trains going.