Just wondering about pensions. I haven’t paid into one for about 4 years although I have about 3 frozen pensions. So thought does your employer provide a pension, or do you have a stakeholder pension or a private one? Or do you feel that pension funds aren’t giving the returns that they should and so aren’t worth bothering with? My firm provides a stakeholder pension and I don’t know if it is worth joining 
If I wanted to retire on a pension equal to half my salary, I would have to put £250,000 into the fund over the next 20 years until I retire. £12,500 per year.
Don’t bother with a pension would be my advice, although I’m sure Mr Pension Advisor in his brand-new BMW would have a different opinion.
Vince
I haven’t got one and have never had one. Given the way the world is heading we are unlikely to be around to collect pensions so a bit of a waste of time in my opinion, spend it today and don’t worry about tomorrow.
Coffeeholic:
I haven’t got one and have never had one. Given the way the world is heading we are unlikely to be around to collect pensions so a bit of a waste of time in my opinion, spend it today and don’t worry about tomorrow.
Absolutely. The scare story being put around by pension advisors is that if you don’t have a pension, you will retire on just a little more than dole money.
But I lived on dole money for four years, when everybody was unemployed, and it was quite enough to live on.
Vince
Couldn’t agree more Vince.
The last time I had an advisor trying to sell me a pension I asked how much of the pension my wife would get after I die. Answer, nothing it dies with me. So I could pay into it for the next 20 years until I’m 65, which is 20 years tomorrow BTW, 
drop dead the next day and my wife gets not a penny. I don’t think so, I’d rather put the money elsewhere and at least she still has it after I am gone.
I thought it was just me Some of the wisest minds we have on Trucknet havent made provisions for a pension 
I worked with a bloke, he scrimped and scraped, just so he could pay into his pension fund. He will certainly be the richest bloke in the church yard
I dont need a life insurance either, someone will bury me! 
Happy Birthday for tomorrow Coffee
Coffeeholic:
the next 20 years until I’m 65, which is 20 years tomorrow BTW,
Happy birthday to you, happy birthday to you,
Happy birthday Dear Neeeiiiiiiiilllllllll,
Happy birthday to you!
You obviously passed the medical then? I went on bended knee begging my doctor to fail me (6 months ago now), but he wasn’t having it!
Vince
Wheel Nut:
I thought it was just me:
Well, I don’t know Malc, none of them have posted to this thread yet.
Vince
Vince:
You obviously passed the medical then?
Sadly, yes I did. 
You know when the Doctor gets you to pee in a bottle, is that part of the medical or some sort of test to make sure you can still do nights out?
Coffeeholic:
Vince:
You obviously passed the medical then?Sadly, yes I did.
You know when the Doctor gets you to pee in a bottle, is that part of the medical or some sort of test to make sure you can still do nights out?
FPMSL
Thanks Neil
Vince:
Well, I don’t know Malc, none of them have posted to this thread yet.
Vince
OK I will change that
When I had my own business I paid more than the equivalent of most peoples wages in a pension(A private pension, thank gawd ) then I decided to buy a house to let one year, best thing I ever did, the money I put into the pension is locked in it until I am 50 that was the deal at the time, the houses I bought I still have and I enjoy a nice income from them and it was almost 10 years ago, The small buy to let mortgages I had are now so small I could just pay them off, of course the tax man would benefit, so I don’t.
The value has more than quadrupled, I have had an income, and the money I invested was smaller than the money I put in my pension over the years.
Thinking about it now, instead of putting it into a pension, I wish I just spent it.
Vince:
Coffeeholic:
the next 20 years until I’m 65, which is 20 years tomorrow BTW,Happy birthday to you, happy birthday to you,
Happy birthday Dear Neeeiiiiiiiilllllllll,
Happy birthday to you!Vince
I’ll second that
This pension business is a rip off 
, invested in a private fund for about 6 years, then when the yearly statment came through the last year i paid into it, i thought this seems rather low 
, when i worked out that it was worth less that the capital invested, i phoned them up , you know how it is an age to get through to be told that the statement was correct and it was due to market conditions , but that over the long term it might improve . Needless to say i pointed out that i worked far to hard to earn it to let some [zb] in a tie waste it , and was certainly not going to let them waste any more . Now if i got it spare i’ll put in the bank or building society 
, if anyone is going to foolishly waste my money, it’ll be me or mrs snax, and if TB thinks he can force me to save then he can [zb]well [zb]off, cos once Gordon had his creasy paws into it 
, whats left is for me to decide how to dispose off. This is meant to be a free society you know. Sorry did i go on
not worth the money there written in
IMHO
stick what you like tos have in an savings account
and also aim to prosper off property
( i aim to have no mortgage by the time i,am 40 , and i,am well on the way so far , although i must admit cirumstances could and will more than likely change , bit like life , its all a gamble )
as in cash in on a non mortgaged property and down size once the flock has left the nest and i no longer need the room
Coffeolic raised a point I would like to know the answer to as well, if your widow does not get the money you have paid in to a pension and die before you collect where does it go?
goverments coffers
Guy Rope:
Coffeolic raised a point I would like to know the answer to as well, if your widow does not get the money you have paid in to a pension and die before you collect where does it go?
It pays for people like me without a pension It will keep me in the manner to which I have become accustomed
Thanks Neil
Wheel Nut:
It pays for people like me without a pension
You and me both Malc.
we have a company pension,if i die 1st( i’m sure wife will make sure i do) she get’s half of the pension.provided she is 3years younger than me.( and she is dam it )
i also have a military pension which i get at 60,just 21 years to go( if i make it )
You know when the Doctor gets you to pee in a bottle, is that part of the medical or some sort of test to make sure you can still do nights out?
it’s to make sure your not pregnant neil,with the amout of time’s you get shafted
and happy birthday neil
Guy Rope:
Coffeolic raised a point I would like to know the answer to as well, if your widow does not get the money you have paid in to a pension and die before you collect where does it go?
[/quote/]When i set up the fund that i was paying into, they asked me to nominate my beneficery, normaly your spouse, so that in the event of your premature demise the fund would transfered to your nominee. What if you kick the bucket a week after you retire, in that case i dont know where the fund would go then. And not all policies are the same, but this doesnt alter the fact that i think that it is a total rip off