How much will your monthly pension be?

[teaboy5]

while I don't know much about most posters this one in particular seems to have regularly dropped bits of his life into posts on here enough times as some form of dubious bragging that it is hard to miss it

from what I can tell he presumably worked at EDS (as he's mentioned public sector IT projects several times) though as they got taken over by HP he'll make sure to only refer to HP and make it sound like he was some hot shot at a big tech firm - this then gets contradicted when it seems he was heavily involved in union stuff so presumably not exactly too far up the ladder

he's now in 'academia' - which apparently consisted of pursuing a vocational undergrad degree at a local college and hoping to start a PGCE or something - I've seen this posted about several times, often when winding up other posters who proceed to then bite when he brings up that he'll never pay back his student loans... this can be entertaining to watch

he once claimed to be offered a 'senior lecturer' position before even graduating from his local college course - I'd presume he perhaps means some tutoring at his local college based on industrial experience

seemingly being a full time student meant he claimed to have taken 'early retirement' in his 30s

and lastly in this thread he claimed to already be drawing money from his 'pension' - when the reality was again rather different - IIRC he owns part of a caravan or holiday park or something like that up north? Can't remember what it was exactly but basically it seems he's prone to making claims and stating things in a manner that is probably partly true but rather misleading.

That's me who does the complaining!

He took out a student loan to cover the cost of Uni which he didn't need and never intends of paying it back.
He also has now been giving 25k towards his teacher training which he doesn't need either and intends to work only part time so he doesn't have to pay back his student loan.

I don't doubt that he is retired but it's the bragging about the student loan's that grinds my gears and a few others as well. Of course he keeps bringing it up as he know it's winds people up

 

[Irish_Tom]

I dont see the need for sarcasm... I am geniuenly curious how amigafan has gone about things in the first 20 years of his career to seemingly set himself up for life. Aren't you?

I wasn't being sarcastic.

 

[Arthur Hucksake]

Can't afford to have a pension atm, barely break even each month.

So as things stand, not a lot.

 

[glenimp617]

Struggling to learn of any company putting in anywhere near the amount some of you are suggesting.

My current, last and the one before that had a maximum of 5%. I've asked my friends, all 5%

some of you are way over 10% who are these companies?

 

[SpeedFreak]

Struggling to learn of any company putting in anywhere near the amount some of you are suggesting.

My current, last and the one before that had a maximum of 5%. I've asked my friends, all 5%

some of you are way over 10% who are these companies?

FTSE 100 company here. I have heard that Nationwide have a good DC scheme as an example.

 

[flea-rider]

don't expect to live past 70 .. if the last 6 generations have anything to go by .. so 4 yrs of retirement ?? oh well least my kids will be better off

 

[Selekt0r]

Struggling to learn of any company putting in anywhere near the amount some of you are suggesting.
My current, last and the one before that had a maximum of 5%. I've asked my friends, all 5%
some of you are way over 10% who are these companies?

Mine is a big U.S. tech/database company. It's worth saying though that new starters would get considerably less generous pension benefits - mine is only as high as it is because I've been there so long and was a member of the defined benefits (non-contributory final salary) pension before the scheme was cut back post spin-off

 

[Kreeeee]

.

 

[Selekt0r]

That's the big problem with the younger generation. They are getting screwed over with both the government and company pension schemes to help pay for unsustainable schemes for the older generation.

I know. I often wonder how my kids will get on in life with the 'triple whammy' of student debt, inflated house prices and poor pension provision When I retire I'll be doing all I can to pass on as much of my generous pension to them for as long as I'm around, as I'm sure I won't need all of it to live on.

 

[Kreeeee]

.

 

[krooton]

I'm alooking at around £1.7k a month

Really wish I could tell past me to get a loan and let it all ride on Bitcoin for a decade

 

[photoshop]

I'm 37, I'm self employed and don't have a pension.

I don't think about retirement as I don't know if I will still be alive then. Nothing is a given!
I'll think about it if I make it that long.

What I do know is I'm alive now and I want to be happy and have a good quality of life and that is where my money goes.
I can either sacrifice now to save up for later or I can enjoy what I have now and sacrifice in the later years. Todays a certainty but tomorrow is not hence why I don't care for a pension.

There are plenty of people who don't have pensions who get by and do okay. My parents are two of those people who get by on just the state pension.

 

[Kreeeee]

.

 

[Kemik]

I'm 37, I'm self employed and don't have a pension.

I don't think about retirement as I don't know if I will still be alive then. Nothing is a given!
I'll think about it if I make it that long.

What I do know is I'm alive now and I want to be happy and have a good quality of life and that is where my money goes.
I can either sacrifice now to save up for later or I can enjoy what I have now and sacrifice in the later years. Todays a certainty but tomorrow is not hence why I don't care for a pension.

There are plenty of people who don't have pensions who get by and do okay. My parents are two of those people who get by on just the state pension.

You are either very naive or in total denial. If you honestly think the state pension will allow you to live a semi comfortable life in 30 years time you have too much faith in the system. Surely you want to be able to do the things you do today rather than scrimp the pennies just to buy food in retirement?

 

[Psycho Sonny]

I have no issues working till 70 personally

I can't believe people think this is acceptable tbh.

So your planning on working your whole "healthy" life and then when you hit 70 you could be crippled with all sorts of issues but it's okay as you have will have a bit more money. Not that you will likely be able to enjoy it. The average life expectancy of a male from Glasgow is 70 FYI. So that would be working til death literally.

People should be aiming to retire as early as possible with enough money behind them to actually enjoy their lives. It's a sad state of affairs when people in the UK are thinking like the above, you would expect that in places like Africa and Asia, etc.

They really need to start teaching money management at high school. Which includes pensions, mortgages and the reality, etc.

 

[Destination]

I can't believe people think this is acceptable tbh.

So your planning on working your whole "healthy" life and then when you hit 70 you could be crippled with all sorts of issues but it's okay as you have will have a bit more money. Not that you will likely be able to enjoy it. The average life expectancy of a male from Glasgow is 70 FYI. So that would be working til death literally.

People should be aiming to retire as early as possible with enough money behind them to actually enjoy their lives. It's a sad state of affairs when people in the UK are thinking like the above, you would expect that in places like Africa and Asia, etc.

They really need to start teaching money management at high school. Which includes pensions, mortgages and the reality, etc.

Agree, APR, rates of interest, hone deals, mortgages, all this should be default taught from year1 to final year in secondary school, slowly batter it into people.

 

[Mr Badger]

Struggling to learn of any company putting in anywhere near the amount some of you are suggesting.

My current, last and the one before that had a maximum of 5%. I've asked my friends, all 5%

some of you are way over 10% who are these companies?

They don't call it the Finance Sector for nothing

 

[Psycho Sonny]

Agree, APR, rates of interest, hone deals, mortgages, all this should be default taught from year1 to final year in secondary school, slowly batter it into people.

I bet it gets so bad rather than blaming the morons out there they blame the credit companies and banks.

What do you mean that £500 tv cost me £2000 in interest. You never explained that to me, etc.

 

[Ayahuasca]

I bet it gets so bad rather than blaming the morons out there they blame the credit companies and banks.

What do you mean that £500 tv cost me £2000 in interest. You never explained that to me, etc.

I think that's oversimplifying things a bit, you'd have to be near enough retarded not to understand basic mathematics, in fact it doesn't even require maths you just need to be able to read the form before signing it as they tell you what you have to pay back over the term.

It's more about ignorance rather than education.

 

[Amp34]

You are either very naive or in total denial. If you honestly think the state pension will allow you to live a semi comfortable life in 30 years time you have too much faith in the system. Surely you want to be able to do the things you do today rather than scrimp the pennies just to buy food in retirement?

There has to be a balance. Do you skrimp and save for your retirement, then look back in your nice house realizing that you have all this money to do things but your health is putting paid to the majority of it - or do you spend much of your money now, while your body is young and fit, enjoying those great international holidays and events you just wouldn't be able to do when you're older?

There's obviously a middle ground in there too, but just where the middle is will be very dependent on the person. If you're active then that middle ground is going to be skewed more towards enjoy it now. If your idea of fun is more relaxed then perhaps your middle ground is more towards saving more for retirement, where you can still lounge on that beach reading a book.