Have you saved enough money for your retirement?

[fatboy]

An article today shows more than 12 million working people are not saving enough for their retirement.

Are you lucky enough to have a final salary pension scheme?

If not, do you save enough or have invested enough for your retirement?

Or will you have to work until you are 80?

Or be poor?

 

[JJ McClure]

No pension as yet, but bollox to it I pay my tax and NI the state can bloody well look after me!

 

[Hungry Joe.]

Funniest thread title of the day award, and it's only 11:40

 

[Uncle Spielberg]

90% of the workers in this land will work until they drop dead. The lucky people are NHS and Teachers.

 

[REDLAND]

I have a private pension, and now a company pension and my own house,

I should be OK

 

[Westdene Seagull]

No pension as yet, but bollox to it I pay my tax and NI the state can bloody well look after me!

You should become an Independant Finanicial Advisor with investment strategies like that !

 

[Lammy]

Yes thank you

I also have absolutely no sympathy for people who are poor in old age. It is NOT the state's responsibility to see you through your retirement.

 

[The Great Cornholio]

No pension as yet, but bollox to it I pay my tax and NI the state can bloody well look after me!

You're not the first person I've hear say that but I fear you may be sadly mistaken. You can't just assume the state will support you - if the money isn't there, it isn't there. There will be millions more people drawing pensions when we retire and the money has to come from somewhere.

I'm one of the lucky few with a Final Salary scheme. I think I'm right in saying that they can't stop me having that, only stop new employees getting it (Which I think they have already done - Tony Le Mesmer will know better than me, working in our Finance Dept!). I've transferred previous pensions into this to 'buy' more service so all my eggs are in one basket. Haven't got a clue what I will do if I leave.

 

[Set of Tracksuits]

No pension as yet, but bollox to it I pay my tax and NI the state can bloody well look after me!

Oh they will do, don't worry, do you know how much the State pension is per month??

 

[Hungry Joe.]

The lucky people are NHS and Teachers.

and funniest quote of the day too!

I take it you've never worked, or known anyone who's worked, as a Teacher or for the NHS Gareth?

 

[The Great Cornholio]

Yes thank you

I also have absolutely no sympathy for people who are poor in old age. It is NOT the state's responsibility to see you through your retirement.

Have you read any of the broadsheets today? They may change your mind! Scary how much you need to save up - £500000 for the equivalent of £20000 a year - I think it said.

 

[JJ McClure]

You're not the first person I've hear say that but I fear you may be sadly mistaken. You can't just assume the state will support you - if the money isn't there, it isn't there. There will be millions more people drawing pensions when we retire and the money has to come from somewhere.

I'm actually well aware that the money may not be there, I'm just a bit miffed as to why not.
I currently pay my slice to Gordon Bloody Brown who pay state pension to the current crop of wrinklies. Surely when I reach my later years there will still be plenty of people working and paying taxes so where is they're money going to go?

 

[Marshy]

Hooray for the NHS ! Im a lucky boy.

 

[Westdene Seagull]

Scary how much you need to save up - £500000 for the equivalent of £20000 a year - I think it said.

BLOODY HELL !!!

Even with my frozen Final Salary pensions with previous employers, my stakeholder pension and a little property investment I'll struggle to get a fraction of that figure.

I guess I could always sell my house to one of those schemes that give 75% of the value and still let you live in it until you die.

 

[The Great Cornholio]

I'm actually well aware that the money may not be there, I'm just a bit miffed as to why not.
I currently pay my slice to Gordon Bloody Brown who pay state pension to the current crop of wrinklies. Surely when I reach my later years there will still be plenty of people working and paying taxes so where is they're money going to go?

Basic maths. There will be a 6 percent swing in the difference between the people paying pension and the people drawing pension. You either put up taxes by 5 or 10 % or you don't pay out as much, if anything. Successive governments have swept this under the carpet whilst shares were doing well.

 

[Lammy]

Well at my previous job I paid 5% of my salary to a pension the company paid 10%.

I'm currently paying 5% of my salary and my employers are paying 4%.

I intend to up this still further in the future. Trust me this is a shit load more than a lot of people my age.

I also own my own house and my well invest in property in the future.

If that isn't enough then I'm going to quit and go and live in India.

Don't forget I will still get a state pension too!

 

[The Great Cornholio]

BLOODY HELL !!!

Even with my frozen Final Salary pensions with previous employers, my stakeholder pension and a little property investment I'll struggle to get a fraction of that figure.

I guess I could always sell my house to one of those schemes that give 75% of the value and still let you live in it until you die.

According to the Independent this morning, the maximum you can get out of those kind of deals is 45% - too many burnt fingers from people living too long.

That's the other thing I forgot to mention in my last post - on average, we will all be living 3-5 years longer in 30 years time. Naughty us!

 

[caz99]

Have you read any of the broadsheets today? They may change your mind! Scary how much you need to save up - £500000 for the equivalent of £20000 a year - I think it said.

i saw that scary. the scary thing for me being a young person is deciding when i should be putting money away how much and where.

however i do feel that there should be a set pension for everyone and not necessarily means tested as they are now. it is some of the states responsibility to look after older people and provide them with a basic state pension to enable them to live

 

[Westdene Seagull]

According to the Independent this morning, the maximum you can get out of those kind of deals is 45% - too many burnt fingers from people living too long.

That's the other thing I forgot to mention in my last post - on average, we will all be living 3-5 years longer in 30 years time. Naughty us!

Lets all start smoking then .... that'll solve the problem.

 

[Marc]

I wont be out of debt for years so chances of me saving any money for retirement are like Britney Spears waking me up with a.....you know what.....in the morning!