Oh Dear: Pensions

[SupremeSpod]

Have I wandered into Permie UK by mistake?

Have you not been introduced to our pet GAL?

[thunderlizard]

assuming a growth rate of 6pc

[MrMark]

Doomed etc.

Don't get me started on pensions.

It's the only good thing about this job really.

When they discontinue it, I's off.

Have I wandered into Permie UK by mistake?

[doodab]

<TiC>
But our houses will be worth a fortune. We'll just withdraw equity from those.
</TiC>

[milanbenes]

Time to give your pension a reality check - Telegraph



'I've been paying into my employer's pension for years, surely I'll be OK?
Don't bank on it. The Moneyfacts figures showed that we're getting less for our pension pots than ever before. By the time you come to retire, the annuity, or yearly income, you can buy with your pension pot may be much smaller than you hope for. Unless you have a final salary pension scheme, also called a defined benefit scheme, you'll need a surprisingly large amount of money to get a relatively modest yearly income.

For example, if you are hoping to retire on the equivalent of the average teacher's pension – a relatively modest £9,358 a year – you'll need to accumulate a pension fund of more than £205,000. If you only started saving at the age of 40, achieving this would cost almost £500 a month (assuming a growth rate of 6pc). If you started at 20, it would cost you £175 a month, so it pays to start early.

'



Oh Dear.

Milan.