But who's to say they will not take your 'expected' earnings due to some government clause in 15, 20 or 30 years time ?
And who's to say if the UK went to war in 2019 and needed that extra 30 billion - or 3000 billion more to the point, they would not use the Civil servants pension fund, and tell the population of this country that they needed it just to ensure the stability of our nation ? If they fed us the line we were all going to die, unless they skimmed some cash of your pension money, do you think many people would object ?
On a more lighthearted note - why not save it yourself in a much more secure place where your pension is truely your own pension and you really are assured of the amount you will get.
I don't trust anyone else to look after my money - and I certainly don't trust anything to do with the government or government assured pension funds for civil servants. I do however, trust my building society - but only just - and even then, there is a 0.000001% chance it could all go wrong.
Whatever you decide, don't be like the 95% of people who save in a pension - then spend 30 years never checking how its doing every month (spending 30 seconds looking at the total on the pension statements - then throwing them in the bin) , only to find the company they trusted with their £150 odd thousand has managed to make all the wrong decisions and they actually have only £30,000 - inflation in 2040 (about £2000 for 20 more years of retirement)
I got a statement from my personal pension last year (after 11 years contribution)
The figures were all wrong (by about £6000) - no interest, no contributions for the year. I phoned them up, and it was only once I pointed their errors out, they realised they hadn't included this years totals in the final figure (before posting out the 2007 statement). Turns out, they had done it for all 700+ employees in our workplace who had a pension with them.
Nearly all the people I talked to at work about the error, noticed it in the statements, but never bothered about it????? Or they had read the statement, but never noticed it hadn't increased from the previous year.
