Truckjimbo gimmie grief over pensions.
So I am just wondering, has anyone ever tried to combine their pensions into one? or is it even worth it?
Was thinking of using something like pensionbee.com/
Also when did you start taking your pension seriously? Im 29, so I am probably at the age when I should give it some thought lol.
Yes I’ve combined my pensions into one and stuck them all with fisherinvestments.com/en-gb
adam277:
Truckjimbo gimmie grief over pensions.
So I am just wondering, has anyone ever tried to combine their pensions into one? or is it even worth it?Was thinking of using something like pensionbee.com/
Also when did you start taking your pension seriously? Im 29, so I am probably at the age when I should give it some thought lol.
The State pension provision hasnt been getting better for years. It isnt likely to anytime soon either, so best to look after yourself more. The sooner you start to save the better and easier it is.
The goal posts may, probably will, change, but doing nothing is probably the worst of any plans.
Read a bit on MoneySavingExpert and the Gov sites for background before doing anything.
Choices made now may mean many tens of thousands pounds difference later on.
There are many sharks out there, but also reliable approved advisors.
Start here
gov.uk/plan-retirement-inco … ial-advice
Franglais:
The State pension provision hasnt been getting better for years. It isnt likely to anytime soon either, so .
What!!! The triple lock means it’s been going up every year as quickly as any other conceivable measure! Even this year when it’s only the double lock it’s still going up over 3%. Can you really expect anything more?
Although I totally agree best to look after yourself as well.
stu675:
Franglais:
The State pension provision hasnt been getting better for years. It isnt likely to anytime soon either, so .What!!! The triple lock means it’s been going up every year as quickly as any other conceivable measure! Even this year when it’s only the double lock it’s still going up over 3%. Can you really expect anything more?
Although I totally agree best to look after yourself as well.
I should have been more clear.
The actual amount has been rising, yes.
But the triple lock has only been in place for a dozen years and is now suspended. For decades previously the “provision” to meet needs, was being eroded by inflation, although cash amounts may have been increasing.
What will happen to it next year, decade? Four decades?
It is currently a good thing to be fully paid up in the State Pension, but obviously, one is limited on how much can be put in.
It alone will not be sufficient.
I amalgamated two pension into my final works pension,AND made added voluntary contributions (AVC)into it, along with my State Pension I have a comfortable income.
Never to early to have a pension scheme,especially if its one that you can increase payment each year.
My Daughter started her first scheme at 18 she is now 49 with a pension pot to be envious of, and now also has a works pension on the go.
I was lucky…
At the age of 25, Wincanton auto-enrolled me into the company pension scheme which was a very good one. When I left a few years later, I had accumulated a fair amount of money in it. I then opened a private plan just to have somewhere to put money into. I made one off contributions over the decades and it’s turned out to be a reasonable sum. It could have been sooo much more, had I the foresight to invest regurlarly and keep an eye on the markets etc.
It’s the one thing I wished I’d been advised about back then in my 20s, when all that mattered at the time was how many girls would be in the club on Friday nights, I’d have a great deal more now.
The strategy now I believe, is to pay into pensions from the word go on PAYE which is a good thing.
And remember UK approved pensions are “free money”!
You earn £40,000 per annum.
You pay £3,200 into your private pension.
It gets £800 quid paid in by the Gov as a tax rebate, so increases by £4,000.
Equals 800 free quids.
I was in a company scheme where the employer paid extra but I left that company. After a couple of years, I started a different private pension, and arranged Direct Debits linked to inflation. Once set up, no self control, nor close management necessary.
Consolidated all pensions and paid for professional advice. That advice paid for itself within two months.
e to the eye, pie, plus one equals zero…as near magic as it gets.
That’s if you live to see it.
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rearaxle:
That’s if you live to see it.Sent from my SM-T976B using Tapatalk
Good job we don`t all look to the distant future with such a gloomy outlook.
rearaxle:
That’s if you live to see it.Sent from my SM-T976B using Tapatalk
Collect mine in 2.5 years at age 55[emoji846]. Got a significant number of local government pension years in (deferred) and now started another as I’ve left driving for the moment and back in local government again. I was thinking about putting my pension from driving almost 4 yrs into my new gov pension and adding AVC’s in as well, but I could do with specialist advice.
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antm4n:
Collect mine in 2.5 years at age 55
It’s a good…
Feeling, trust me. 
adam277:
Truckjimbo gimmie grief over pensions.
So I am just wondering, has anyone ever tried to combine their pensions into one? or is it even worth it?Was thinking of using something like pensionbee.com/
Also when did you start taking your pension seriously? Im 29, so I am probably at the age when I should give it some thought lol.
I’ve used pensionbee. They don’t actually do anything you can’t easily do yourself - although as their service is free, there is some benefit to you as you don’t have to spend time/effort keep track of correspondence etc. The main advantage of combining pots is that with it all in one place you are unlikely to lose track of some small pension(s). This can potentially be an issue if you move house or change email provider. Some people are comfortable (and even enjoy) dealing with this sort of thing, some less so. This will likely change several times in the average person’s lifetime.
Bottom line is that State Pension is currently around £9k per year when/if you are eligible to draw it. Regardless of the level of double/triple locking they apply, it’s not going to increase significantly in real terms. It’s down to you to make this up to something that will provide a few decades of life rather than existence.
It’s actually very easy to consolidate pensions, just put 2 of my small ones into my main one only took a couple of emails, print a few things off send them off and was done…
Aged 29 is just right to start getting serious about it all…
I think the future will be uncertain so don’t put all your eggs in one basket
Now I gotta find all my old pensions xD
probably had 5 employers with different pension plans
adam277:
Now I gotta find all my old pensions xD
probably had 5 employers with different pension plans
Good to get going.
Obviously pensions aren`t a sprint.
The sooner you start the better, but a bit of planning over a few weeks compared with the 2,000(?) weeks before you get to retire, is time well spent.
only another 2,000 more “Monday mornings”…
Franglais:
only another 2,000 more “Monday mornings”…
go ■■■■ yourself 
adam277:
Truckjimbo gimmie grief over pensions.
So I am just wondering, has anyone ever tried to combine their pensions into one? or is it even worth it?Was thinking of using something like pensionbee.com/
Also when did you start taking your pension seriously? Im 29, so I am probably at the age when I should give it some thought lol.
It wasn’t grief but friendly advice. Lmao
But posting your wage slip on a forum to a train driver. Thats the biggest laugh ever.
Good.luck in your life.
And your went to University and I didn’t. Lol
Im out.
adam277:
Now I gotta find all my old pensions xD
probably had 5 employers with different pension plans
And you claim to be 29 
And you went to uni 
truckerjimbo:
adam277:
Now I gotta find all my old pensions xD
probably had 5 employers with different pension plansAnd you claim to be 29
And you went to uni
I dont claim to be I am xD
I did go to uni. Not for long but I did!
I dont get the train driver reference
The reason I have a lot of pensions (I think) Is because I’ve moved jobs a bit. And I believe it was in 2012 that auto enrolment began. So, I’ve been placed in a pension scheme in any job I have been in I think, unless I opt out. Not sure on the details.