How will you prepare for pension poverty?

[sasguru]

Two words: Rental income.

Even if the UK declines, London rents will (1) always be one of the highest in the world and (2) rise with inflation.

[Ignis Fatuus]

There was a member of the House of Lords calling for pensioners to have their pensions cut if they refused to do unpaid work recently. Hey, isn't that whole not working thing why they call it retirement? And isn't it meant to be a privilege that you've bought and paid for, increasingly without any say in the matter, rather than a means-tested benefit?

Remember the above attitude when it comes to deciding whether you want to opt out of auto-enrolment in purchased private sector pension schemes that are likely to be treated as means-tested benefit by the time it comes to pay out. Pension schemes are a bad joke that the insurance industry and the government plays on the general public. They're merely the markets' way of conning present day workers out of the funds they need to keep the public sector and financial markets' gravy trains going.

You are spot-on there.

I might add that Lord Bichard, far from thinking outside the box, is thinking well inside a blinkered box that politicians are all too fond of: cost-free economics. He is ignoring that fact that every "retired" person who is forced to do work in order to get their pension (and, shorn of fine phrases like "making a contribution", that is what he is proposing) is someone else of "working" age who will now be out of work.

So you replace young workers with old conscripts, thus paying the oldsters' pensions and the youngsters' unemployment benefits as well, and get a worse job done for your pains? Can old Lords please retire gracefully?

[Moscow Mule]

self-euthanase when the dosh runs out.

Kids / wife won't get the insurance payout then, need to take up some extreme sports and be bad at them...

[Lockhouse]

Rental income here as well. Everything is about demographics.

[Mich the Tester]

Vote for governments that borrow tuliploads of money they can never repay, cut any kind of provision to young people and give all the pseudo-money to me in the form of the divine right to a pension at 65.

Regards

A. Babyboomer

[Peoplesoft bloke]

Record male survival on both sides of my family is 76 so not much pension needed - that's my plan.

[DimPrawn]

Rental income here as well. Everything is about demographics.

Immigration, money printing, draconian planning laws.

[lukemg]

HYP SIPP

[yasockie]

Immigration, money printing, draconian planning laws.

Of all the bad options it seems like the most reasonable one - worst case you can always live in it.
That and rare metals, gold may or may not be good enough that's why I'd recommend diversifying the portfolio.
Also land growing food, if you're prepared to protect should things go sour...

[Mich the Tester]

Farmland.