Who pays into a pension?

Permabanned
Joined
1 Sep 2010
Posts
11,217
NO!

I refuse to pay into a pension pot.

I save my own money.

Reason: The pension paid now is paying for pensioners (hard grafters from the previous generation). When I retire who will pay my pension? Kids these days think they will make it as celebrities and unfortunately it is the culture we have in GB now.

:|
 
Soldato
Joined
14 Feb 2004
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Location
Peoples Republic of Histonia, Cambridge
I don't have a pension but my wife has a final salary. I've have money invested which I'm confidant will continue to provide a good steady income into my retirement.

We both hope to be in a position to retire by 55-60 if we wish. I'm not sure I will though.

I was under the impression that pensions will become compulsory in the near future and employers must contribute??
 
Man of Honour
Joined
13 Oct 2006
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91,165
You think all kids think they will make it as celebs? Wow.

A suprising number do, I blame TV and bad parenting. We hire a lot of 16-17yro fresh out of school for seasonal work and year on year its getting more and more common.
 
Soldato
Joined
18 Oct 2002
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9,158
A suprising number do, I blame TV and bad parenting. We hire a lot of 16-17yro fresh out of school for seasonal work and year on year its getting more and more common.

Perhaps, but you'd be pretty stupid to use that as a reason to not pay into a private pension...
 
Man of Honour
Joined
13 Oct 2006
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91,165
True. My past experiences with previous company pensions has been pretty sour so I have my own savings setup - doesn't really work out as well on paper as a company pension but so far its doing better than the ones I've paid into in the past :S
 
Associate
Joined
1 May 2007
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Manchester. UK
Again, what don't you have faith in? A pension isn't an investment - a pension is a wrapper FOR an investment. You are giving away two lots of money, one lot from your employer and the other to the tax man.

I'm not keen on the idea of having money locked away until i reach my 60's. I think what's the point in saving thousands for then when the money is more useful now.

Also, we've had a couple of cases at work of old boys retiring then dying shortly after. What a total waste of saving! They could have made better use of that cash when they were alive.
 
Soldato
Joined
15 Nov 2007
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13,101
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Enfield
Nope, nothing offered by work and I can't work out what/how/why to do it myself. Not very good with money/maths/financial stuff, I just save it myself.
 
Associate
Joined
3 Jan 2012
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1,471
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Lancs
I pay 6% company pays 8%. As I go up through the pay scales I intend to keep upping it through my career so I can hopefully retire at a sensible age and still have some time & money to enjoy life.
 
Soldato
Joined
25 Sep 2006
Posts
14,358
I pay, my employer pays.

I don't plan on upping my contribution past the bare minimum as I have other income related retirement plans.

Depends how well I do in life but somewhere between 55 would be nice.
 
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