Its tantamount to the same thing in this implementation though, hence why I opted out immediately.
Mandatory Ponzi scheme enrolment
- Thread starter anything I don't mind
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Its tantamount to the same thing in this implementation though, hence why I opted out immediately.
Yes, I assume that once your levels of stupid hit critical you will explode like Agent Smith at the end of The Matrix.
Soldato
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Vote name change to groan.
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Make a deep inarticulate sound in response to pain or despair
Soldato
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But your employer is matching your contributions, so you're in effect doubling your money by putting it into a pension plan. Inflation won't even be a factor unless the economy tanks and we're buying a loaf of bread with £10,000 notes. Plus, with most pension schemes you can choose the funds etc your money goes into, so you can choose a high risk fund and make a pretty decent sum.
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This pretty much sums up the problem, the whole reason we need a new pension scheme is because its got to the point where the money from today's workforce isn't enough to pay the people from yesterday who paid into it (as their "boom" generation is bigger).
Its mandatory
It's mandatory that your company offers you one, not that you have one
At least that was my understanding
Seconded.
And it's taken out pre tax, so you save on NI.
Plus his idea of using a saving account has a very low guarentee.
It's just LOlGroen like normall.
Thirded
Fourthed.
Deleted member 651465
Deleted member 651465
1% pension or not.
Hardly going to notice that 1% each month are we?
Hardly going to notice that 1% each month are we?
isnt it just
its good the gov are doing this, but its stupid they need to
im now paying 10% into mine of my own salary as company matches it, first time i have had a decent employer tbh
I'm in the company pension. I pay 4%, they pay 8% and I save a bit of tax too. I'm fine with that and I know it's sensible etc but;
My only problem with this is that I can't see everyone having 2 pensions in the future. I can see the state pension evolving into a benefit for those who haven't had a private/company pension or didn't bother going to work. If this happened (and I mean in 20++ years) then the idle gits would be fine, the rich people with whopping pensions would also be fine but the man in the middle who has paid in for 30 odd years might only be marginally better off (in some cases) that the idle ones.
Either that or we will all have 2 pensions
My only problem with this is that I can't see everyone having 2 pensions in the future. I can see the state pension evolving into a benefit for those who haven't had a private/company pension or didn't bother going to work. If this happened (and I mean in 20++ years) then the idle gits would be fine, the rich people with whopping pensions would also be fine but the man in the middle who has paid in for 30 odd years might only be marginally better off (in some cases) that the idle ones.
Either that or we will all have 2 pensions
Soldato
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It's more of a pyramid scheme than a Ponzi scheme. Besides, you can avoid being in the scheme; you can opt out, or quit your job. Either option will result in you no longer have to make the contributions, but as other members have suggested, the latter one will also benefit your employer.