Pension plan, do you have one?

[doug boardley]

As title suggests really, how many of us have a pension plan in place?

 

[finlay]

got a couple started them when i was 20 one finishes when i am 55 the other 60 . 6 years to go :hurray::hurray:

 

[mikethetile]

ive got severral pensions that are worth diddly squat

one I took out when I was an apprentice and is paid for, I get a £2000 lump sum that I can reinvest for an income

the other will pay about a fiver a month

what were they all about and what a waste of money

no its sell the property and move into rented for me, or buy a park home on the coast

 

[Deleted member 9966]

obviously I have a different occupation to you guys, so since starting work I've always paid into a pension of some kind. I am currently paying into a stakeholder plan that my company contributes to, as they closed their final salary scheme about 10 years ago. Last time I got an update from RBS about my pension with them they said I would need to save around £285,000 to retire on about £10,000 a year. I guess I'm one of the lucky ones in that I have another 40 years of work ahead of me anyway.

 

[user123]

Nope, no plan, similar story to Mike's....

 

[user123]

obviously I have a different occupation to you guys, so since starting work I've always paid into a pension of some kind. I am currently paying into a stakeholder plan that my company contributes to, as they closed their final salary scheme about 10 years ago. Last time I got an update from RBS about my pension with them they said I would need to save around £285,000 to retire on about £10,000 a year. I guess I'm one of the lucky ones in that I have another 40 years of work ahead of me anyway.

Good grief... :yikes:

 

[Deleted member 9966]

hence why the government are concerned that people are not saving enough for retirement. The current state pension is a mere £97.65 per week which equates to just over £5000 a year.

 

[mikethetile]

are you 20 then Liz LOL

 

[Ajax123]

I'm lucky enough to be in the company final salary scheme into which they pay 20% and I pay 10% of my salary. I was quite lucky cos shortly after I joined they closed it to new entrants. Wish I could retire tomorrow though.......

 

[Andy Allen]

i have been paying into a pension since i was 18 yrs old, i had to freeze it for a couple of yrs during the last recession, but i am currently paying £200 a month into 3 pensions.

the plan is when i get older to cash in 1 or 2 of them and cut my work load (depending on what there worth).

 

[kilty55]

is the forum ok,,i cant create a thread or pm anyone?

 

[Deleted member 9966]

are you 20 then Liz LOL

national retirement age is going to be raised to 68 by 2020 Mike, and I still have another 25 years of work beyond that, so I'm fully expecting retirement ages to be 70+

 

[mikethetile]

are you going to be retiring at 93 then Liz

 

[Andy Allen]

is the forum ok,,i cant create a thread or pm anyone?

nor me keeps cutting back to a refresh page and a sorry the forum has got a few probscant even get to the smilies.

 

[Deleted member 9966]

no Mike