Pensions

[Alistair20000]

I love pensions, me.

Are you in the pensions industry Lionel ?

Not as an over remunerated salesperson of course.

 

[LOG]

Live and breathe it, Al. They're the financial services equivalent of rock and roll.

And, no, i am not a salesperson.

 

[angelic upstart]

Ask Gordon Brown.

I think it goes back a lot further than Gordy Isca, la.

 

[elginCity]

Why do so few consider their retirement options and plan for their futures?

they’ll be thinking new kitchen, flash motor or Caribbean cruise rather than, if I take this now will I be able to live off State benefits when I actually do retire and have no other income?

Many agree with Janis Joplin, I guess.... "I'd rather have 10 years of super-hyper-most than live to be 70 sitting in some goddam chair watching TV"

 

[angelic upstart]

Lionel touched on the complexity of the new state pension. I'm currently gonna get about £75 a week - or the equivalent of the dole. This was due to being stupid and (in my opinion) being missold and contracting out of SERPS when I was 18 - the chap said everyone does it and being young and naive I believed him.

I do have a Company pension so I'm hopeful I won't yet be eating from bins - but I do fear for those that are putting into auto enrolment thinking they're okay when they're likely to get a few quid annually which will no doubt then be spent on paying off the mortgage....

 

[angelic upstart]

Many agree with Janis Joplin, I guess.... "I'd rather have 10 years of super-hyper-most than live to be 70 sitting in some goddam chair watching TV"

That's all well and good, but we all have a minimum income required to live, and we're fairly likely to live into old age. I don't think £700 a month is likely to cover it for most.

 

[elginCity]

Like the endowment plan 8% growth 'projection' charts back in the day. 25 years to pay off your mortgage and receive a tidy lump sum of £40k, just sign here. No ****.

 

[iscalad]

Like the endowment plan 8% growth 'projection' charts back in the day. 25 years to pay off your mortgage and receive a tidy lump sum of £40k, just sign here. No ****.

I signed up to one like that. Had to find £20k to pay off my mortgage, Barstewards.

 

[Alistair20000]

This was due to being stupid and (in my opinion) being missold and contracting out of SERPS when I was 18 - the chap said everyone does it and being young and naive I believed him.

As you are only 25 now, shirley you have plenty of years left to catch up AU ?

 

[angelic upstart]

Yes, I do have age on my side but and an unhealthy desire to retire before 67 - currently hoping for 65