Mandatory Ponzi scheme enrolment

Showboat · 22 Aug 2013 at 15:10

Theophany said:
CHEESE IS NOT A VEGETABLE, SO WHEN CARLA ASKED ME IF SHE COULD SEE MY HOLIDAY PHOTOS DR. SMITH INVESTIGATED MY PROSTATE. SEVEN DAYS LATER, THE DISHWASHER BURST INTO FLAMES AND A MUTANT DOG CAME OUT OF IT.

See how much sense you're making?

Reply of the year

This thread made me smile.

Theophany · 22 Aug 2013 at 15:10

Westyfield2 said:
LOL groen.

Whilst I agree with this sentiment wholeheartedly...

Westyfield2 said:
Why should someone else give a damn about groen saving for his retirement? That's his responsibility. He may already plans for saving for retirement with pension schemes, investments, money under the mattress... so he doesn't need to stick 1% in yet another scheme.
Work-place pensions may be a good idea, but IMHO the state should be "strongly suggesting" rather than automatic enrolment.

Simply not feasible, I'm afraid. People do not save enough for their retirement for a number of reasons, primarily because they do not appreciate how much they will actually need and the state is simply not financially sound enough to support everybody. Lest we forget the state pension has been raped and pillaged over the years.

Haggisman · 22 Aug 2013 at 15:11

Since you're so against "losing" 1% of your income (if you're on a "normal"ish wage of ~£30k, then thats £300 a year), pray tell us what is your financial plan for retirement?

platypus · 22 Aug 2013 at 15:14

Westyfield2 said:
Why should someone else give a damn about groen saving for his retirement? That's his responsibility. He may already plans for saving for retirement with pension schemes, investments, money under the mattress... so he doesn't need to stick 1% in yet another scheme.
Work-place pensions may be a good idea, but IMHO the state should be "strongly suggesting" rather than automatic enrolment.

Probably because everyones taxes goes to help prop up those who don't save for retirement.

anything I don't mind · 22 Aug 2013 at 15:14

I plan to be in a position financially where i won't require a pension. Plus its likely that my body won't last that long.

CREATIVE!11 · 22 Aug 2013 at 15:15

Theophany said:
CHEESE IS NOT A VEGETABLE, SO WHEN CARLA ASKED ME IF SHE COULD SEE MY HOLIDAY PHOTOS DR. SMITH INVESTIGATED MY PROSTATE. SEVEN DAYS LATER, THE DISHWASHER BURST INTO FLAMES AND A MUTANT DOG CAME OUT OF IT.

See how much sense you're making?

hatersgonnahate.gif

yhack · 22 Aug 2013 at 15:17

Really all the money is going into funding some secret government low-mavity underground recording studio for when we 'go' to another planet. I'm guessing Mars.

Theophany · 22 Aug 2013 at 15:17

CREATIVE!11 said:
hatersgonnahate.gif

yhack said:
Really all the money is going into funding some secret government low-mavity underground recording studio for when we 'go' to another planet. I'm guessing Mars.

Is it for Bruno Mars?

GinG · 22 Aug 2013 at 15:18

Xordium said:
If you hate it here so much why not go back to South Africa?

wesimmo · 22 Aug 2013 at 15:22

groen said:
I plan to be in a position financially where i won't require a pension. Plus its likely that my body won't last that long.

You're probably right, pension planning isn't important in your case, given you can't see the difference between the two things you're a prime candidate for a Darwin Award and unlikely to reach retirement age.

Spektor · 22 Aug 2013 at 15:23

Groen can you give me the contact number of your employer? I feel I have a civic duty to warn them.

Deleted member 77746 · 22 Aug 2013 at 15:25

opt-out simple as that.

booyaka · 22 Aug 2013 at 15:27

groen said:
The government is forcing me to join a ponzi scheme. I don't want to lose 1% of my salary every month.

grow up.

So your happy to head towards retirement with nothing to help you fund yourself and your lifestyle when you stop working.

Stop being so pathetic and start thinking about your financial future.

If you don't want it - opt out, however be aware that your employers MUST opt you back in again in 3 years time, and you have to then opt out again, and so on etc.

Havana_UK · 22 Aug 2013 at 15:28

Why would you NOT want to enroll in a company pension scheme? It's a free pay rise for goodness' sake, and you'll pay less tax too!

booyaka · 22 Aug 2013 at 15:28

groen said:
I plan to be in a position financially where i won't require a pension. Plus its likely that my body won't last that long.

what is that fantastic position and how are you going to achieve it - please do tell!

Zenduri · 22 Aug 2013 at 15:28

My employer works on a 2:1 ratio. maximum i can add in is 6% which I'm currently at and they put in an additional 12% per month

Havana_UK · 22 Aug 2013 at 15:31

HybridX said:
My employer works on a 2:1 ratio. maximum i can add in is 6% which I'm currently at and they put in an additional 12% per month

Nice! Mine only matches, and then only up to 5%.

jasonmorris · 22 Aug 2013 at 15:43

groan

JBod · 22 Aug 2013 at 16:05

No one can be this stupid AND operate a keyboard, let alone turn a computer on. I vote troll.

Also.

lolgroen.

Emlyn_Dewar · 22 Aug 2013 at 16:10

Monkeynut said:
Stop being a muppet and just opt out.

This. My work sent an e-mail round saying the'd be auto-enrolling me as of next year.
Unfortunately can't opt out until the scheme has started, but the option is there.

There's no chance I'll live long enough to claim a pension, that money is better off in my account, where it can be spent on whisky and electrical goods.