pensions

[n5gooner]

do people here pay into a pension ? I've one left from my permi days, but don't pay into one now.

I think that if I put the same amount of money into housing as I'd put into my pension I'll be better off in the long run, also I can always cash in my housing, but I can't cash in my pension......

thoughts ?

 

[milanbenes]

N5,

this is an extremely important subject for us lot,

having grown up in the UK and seen:

a, so many pension funds depleated by company failures

b, so many pension funds badly invested

c, so many pension products mis-sold

d, so many pension products not deliver what they were projected to deliver and the people only finding out about this about 2 years or so before retirement


that I have come to the conclusion, I'd rather create my own pension and if I am unfortunate that it does not deliver I have myself to blame and nobody else

history has shown, a balance of property, stocks and cash is a sound pension plan

what does the rest of the congregation think ?

Milan.

 

[Churchill]

N5,

this is an extremely important subject for us lot,

having grown up in the UK and seen:

a, so many pension funds depleated by company failures

b, so many pension funds badly invested

c, so many pension products mis-sold

d, so many pension products not deliver what they were projected to deliver and the people only finding out about this about 2 years or so before retirement


that I have come to the conclusion, I'd rather create my own pension and if I am unfortunate that it does not deliver I have myself to blame and nobody else

history has shown, a balance of property, stocks and cash is a sound pension plan

what does the rest of the congregation think ?

Milan.

I think you should shut up and concentrate on digging your virtual swimming pool.

 

[n5gooner]

for what I understand with a pension, there is only a % you can take as cash the rest is an anuity, this will pay a certain amount each month for the rest of you life, so if you had a flat that the rent was £1000, and had it mortgage free by the time you wish to retire, this is paying your anuity.


Now imagine if you had 3 or 4 flats paying that, so if you wanted a cash lump sum ether sell one flat or re-mortage it, making sure the rental would cover the mortgage.

Seems to me that this is the way to go......

 

[milanbenes]

Spod,

less of it,

do you have anything useful to add to this thread ?


for those of us wretched unfortunates who are not born into
landed old money families, this is an important subject

Milan.

 

[Churchill]

Spod,

less of it,

do you have anything useful to add to this thread ?


for those of us wretched unfortunates who are not born into
landed old money families, this is an important subject

Milan.

Ok, the UK private pension scheme is a complete rip-off. Just take a look at annuity rates! Bloody shocking! They should be hung etc.

 

[Kyajae]

Spod,

Like it!

 

[ratewhore]

I haven't had a pension since my permie days. I don't want one either. I know you get tax breaks but I don't want to put my money somewhere I can't get at it. And I also want the choice to do what I want with it when I retire.

 

[MrsGoof]

for what I understand with a pension, there is only a % you can take as cash the rest is an anuity, this will pay a certain amount each month for the rest of you life, so if you had a flat that the rent was £1000, and had it mortgage free by the time you wish to retire, this is paying your anuity.


Now imagine if you had 3 or 4 flats paying that, so if you wanted a cash lump sum ether sell one flat or re-mortage it, making sure the rental would cover the mortgage.

Seems to me that this is the way to go......

N5,

the main thing about pensions seems to be that the rules change every year thanks to to our new PRESIDENT / MESSIAH / MONARCH El Gordo

 

[n5gooner]

N5,

the main thing about pensions seems to be that the rules change every year thanks to to our new PRESIDENT / MESSIAH / MONARCH El Gordo

yea, was talking to my dad the other night, he retired 5 years ago but has not drawn on his pension yet, said he's lost 1/3 through rule changes.

I'd ecco what ratewhore says; "I don't want to put my money somewhere I can't get at it. And I also want the choice to do what I want with it when I retire.
"