Provision for retirement...

[milanbenes]

opps, there's gonna be a lot of skint old peops in the not too distant future...

http://www.telegraph.co.uk/news/main...2/npens102.xml

'It shows that only one in four of Britain's 26.2 million employees has a private pension in addition to the basic state pension. This represents a sharp fall from 1991-92, when 39 per cent of workers were putting money aside for later life.

The report shows that taxpayers are struggling to save for their own pensions, while the annual burden of contributing to public sector pensions is predicted to rise by 33 per cent by the 2030s.'




'According to Standard Life, someone aged 30 earning £25,000 a year needs to have total contributions of 19.9 per cent of their earnings each month - £414 - if they wish to retire on two-thirds of their salary at 65. A 30-year-old earning £50,000 needs contributions of 21.6 per cent - £899 a month.'



What does the jury think ?

Anybody here saving retirement ?

Milan.

[EternalOptimist]

I am saving like mad for retirement
unfortunately, its not MY retirement

[BrilloPad]

I am divorced so have no money - my ex has it all.

[Cowboy Bob]

That's because they're the same numpties that decided that taking out a 5x salary mortgage was a great idea.

As for me, the plan is to live off the interest on my savings by the time I retire

[Platypus]

I am divorced so have no money - my ex has it all.

Ditto - I expect to retire into poverty

[Gonzo]

I think that you would be mad not to. My permie jobs always had decent contributions but I have made sure that I have kept pension contributions going since I started contracting.

The state pension is not a lot of money as it is at the minute, and given that the pensioner to taxpayer ratio is rising all the time then i do not think that the current system will even be viable by the time that I reach retirement age (another 30 years )

[DimPrawn]

Like you need £30K p.a. when you are an incontinent old git in an old folks home.

The only fun part of being old is moaning about how poor you are to anyone who will listen.

[Gonzo]

Like you need £30K p.a. when you are an incontinent old git in an old folks home.

I agree, but there a plenty of people around that don't get to that stage until they reach 90.

If I don't give up the booze and fags then the chances are that I won't live past retirement age anyway, but I just cannot take the risk that I might end up healthy and poor.

[miffy]

Like you need £30K p.a. when you are an incontinent old git in an old folks home.

Well if you're still fit enough to stay in your bungalow, £30K probably won't go far. 70% will go on council tax by then and the rest wil be spent in ALDI.

If I don't give up the booze and fags then the chances are that I won't live past retirement age anyway, but I just cannot take the risk that I might end up healthy and poor.

Snap.

I hate thinking about retirement/old age. If I'm not being robbed by the local chavs by then, the government will certainly steal whats left from me.

[expat]

I wonder if there's any correllation between this fall in private pension provision & Gay Gordon's theft of £5billion per year from the pension funds...

There isn't, actually. Brown's £5b grab was wrong, but it's peanuts compared to what financial advisers cream off the savings of people who invest in their products. Now there's a bunch of people with a good plan for their retirement.