Pension Performance Pension Performance
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  1. #1

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    Malcolm Buggeridge is too good to be a permie


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    Default Pension Performance

    Just got my annual statement.

    Value of pension on 4 Jan 2012 = £x

    Contribution made on 31 Mar 2012 = £10k

    Value of pension on 4 Jan 2013 = £x + £5k

    Is there any point?

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    No


    One of the hardest lessons in life to be learned is do not let other people look after your money

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  3. #3

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    Quote Originally Posted by Malcolm Buggeridge View Post
    Just got my annual statement.

    Value of pension on 4 Jan 2012 = £x

    Contribution made on 31 Mar 2012 = £10k

    Value of pension on 4 Jan 2013 = £x + £5k

    Is there any point?
    For your pension provider, yes.

    My pension is averaging 3.45% growth PER MONTH, maybe you are just doing it wrong.
    “Live a good life. If there are gods and they are just, then they will not care how devout you have been, but will welcome you based on the virtues you have lived by. If there are gods, but unjust, then you should not want to worship them. If there are no gods, then you will be gone, but will have lived a noble life that will live on in the memories of your loved ones.”

    ― Marcus Aurelius

  4. #4

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    Quote Originally Posted by Malcolm Buggeridge View Post
    Just got my annual statement.

    Value of pension on 4 Jan 2012 = £x

    Contribution made on 31 Mar 2012 = £10k

    Value of pension on 4 Jan 2013 = £x + £5k

    Is there any point?
    I sympathise; Dutch insurance firms have pretty much ruined the pensions of anybody who's between 30 and 50 with their mis-selling, enormous 'administration costs' and abject failure to invest in a way that will deliver reliable returns. I still pay in, but I've given up on the idea of ever getting a pension out of it and intend to study for a job that I can carry on doing into old age, perhaps taking the pittance of a pension to top up on whatever work I'll be doing. It was a big scandal here in NL which ended with pension firms avoiding court by agreeing to give minimal compensation on their own terms, and that compensation would barely provide one month's extra pension. If that scandal had happened in the food sector there'd have been prosecutions, but as usual with the finance sector, companies are given a slap on the wrist an the individual conmen are allowed to get away with it, even worse, rewarded with failure bonusses.
    And what exactly is wrong with an "ad hominem" argument? Dodgy Agent, 16-5-2014

  5. #5

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    Quote Originally Posted by SimonMac View Post
    For your pension provider, yes.

    My pension is averaging 3.45% growth PER MONTH, maybe you are just doing it wrong.
    Indeed, not all pensions and pension providers are created equally.
    I was miserable and depressed, but CUK turned it all around. Now I'm depressed and miserable.

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    Quote Originally Posted by Malcolm Buggeridge View Post
    Just got my annual statement.

    Value of pension on 4 Jan 2012 = £x

    Contribution made on 31 Mar 2012 = £10k

    Value of pension on 4 Jan 2013 = £x + £5k

    Is there any point?
    No. Stack your cash ISAs up and then invest in premium bonds etc.
    They give you a tax free income in your dotage.

    Buying an annuity is like walking into a bookmakers, they are stacking the odds that you die before you use the money up. If you have to then take up smoking and go to the doctors complaining of chest pains etc. They pay more out if you're ill.
    But I discovered nothing else but depraved, excessive superstition. Pliny the younger

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    Pensions are tax free in and taxed on the way out.

    ISA's are taxed income in and tax free (gains and income) out.

    Unless you are paying higher rate income tax now and will be paying lower rate income tax when you retire, what's the point of the pension? And if you are paying higher rate income tax now, you are doing something wrong as a director anyway.
    I was miserable and depressed, but CUK turned it all around. Now I'm depressed and miserable.

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    Quote Originally Posted by SimonMac View Post
    For your pension provider, yes.

    My pension is averaging 3.45% growth PER MONTH, maybe you are just doing it wrong.
    Ditto + .....my annual statement was very surprising.
    Blood in your poo

  9. #9

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    Since I've been contracting I've been putting 10% of my gross income into my pension. Plus 10 years of permiedom with 15% contributions - (7.5 me, 7.5 employer). It's all worth squat.

  10. #10

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    Quote Originally Posted by DimPrawn View Post
    Pensions are tax free in and taxed on the way out.

    ISA's are taxed income in and tax free (gains and income) out.

    Unless you are paying higher rate income tax now and will be paying lower rate income tax when you retire, what's the point of the pension? And if you are paying higher rate income tax now, you are doing something wrong as a director anyway.
    If I'm paying a decent amount into an ISA, that's surely going to push me into the higher tax bracket, no?

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