How much do you save in your pension each month?

[DimPrawn]

You Einsteins know what a SIPP is right?

Yes, you can put money in, but you can't take it out and spend it. You must buy an annuity and when you do, your £1M pot will give you low income, and when you die, that £1M is lost.

No thanks.

[ace00]

Einstein was not a handsome fellow.

Nobody ever called him Al.

He had a long moustache to pull on,

It was yellow.

I don't believe he ever had a girl.

Hawkwind circa 1979ish.

Yeh - what was the song? Sure it wasn't Gong? I got to know now....

[minestrone]

Indeed. It's like setting fire to banknotes. I’m paying in about 500 euros a month to a pension plus about 1500 a month into my savings account/war chest plus I have some Dutch government bonds. Needless to say, the savings account and the bonds have outperformed the pension fund by a very large margin. I don’t think I’m going to bother with ‘expert financial advice’ any more.

My total gross contributions to the pension are about 36 grand, the pot is sitting about 26 just now.

Waste of feckin time. I'm probably going to keep it and transfer it to my children's pot.

[Bagpuss]

If you want to make money, you need it to be fluid. You need to move it around from asset to asset, buy low, sell high, re-invest in something else.

What you don't need is a big pot, that you cannot access, and when you do, you find annuity rates appalling, and that you must buy one at a certain age and you cannot withdraw a decent lump sum.

Absolutely

[TimberWolf]

lost to a man in a suit

And the pension companies plush carpets, big offices and employee pensions which will probably also be worthless.

[ace00]

and you know what Barclays shares are?

http://forums.contractoruk.com/gener...t-company.html

Touche.

Cruel. Very cruel. igmc.

[Bagpuss]

Touche.

Cruel. Very cruel. igmc.

Don't mean to be cruel, but your investment advice is worth exactly what it costs

[DimPrawn]

A pension full of banking shares.

Sorted.

[expat]

Yes, you can put money in, but you can't take it out and spend it. You must buy an annuity and when you do, your £1M pot will give you low income, and when you die, that £1M is lost.

No thanks.

WRONG!

Firstly, you can take out 25% tax-free. Secondly, you don't have to buy an annuity, you can simply withdraw money yourself. Thirdly, when you die, what is left is not lost.

BTW the capital is not necessarily lost on death in an annuity either, that is a choice that you make at the time of buying the annuity.

[AlfredJPruffock]

No Pension - No Cry.