Poll: Pensions - Are you worried about the future?

How much is in your pension pot?

  • <£20k

    Votes: 69 20.6%

  • £21k - £30k

    Votes: 11 3.3%

  • £31k - £40k

    Votes: 15 4.5%

  • £41k+

    Votes: 168 50.1%

  • No clue

    Votes: 72 21.5%
  • Total voters
    335

SideWinder

SideWinder

SideWinder

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Happy Wednesday everyone and so let's have a happy thread! :o

Obviously if you have clicked this, you are either worried, confident..or just curious.

A pension statement arrived today (I am 34) and I am fully realising the extent of what life could be like 30 years into the future. I have had a mild interest in my pension but perhaps not as much as I should. I am mid bracket A and I think I'll be working in a supermarket or somewhere else when I am older but I am also looking for a new role so pension contribution will be such a big factor now.

Mods - Poll perhaps? EDIT: I removed my awful suggestion from OP. :(

How much is in your overall pension pot? Obviously age is a factor in this as those nearing the end of their working career would have a larger pot.

This is not a financial advice thread.
 
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SideWinder said:
Mm yeah, was thinking the demographic on here are towards the older side plus we also we have a lot of very intelligent people who work very hard.
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Well give that the UK max for private pensions is £40k/year contribution, and the lifetime allowance is £1,073,000 - your bandings are a billion miles out.
 
Well above 41k (odd figure...) but if Truss keeps going the way she is it'll probably end up at <20k
 
I'm by far an expert in pensions, but don't you need to have a lot in them for them to pay out anything reasonable?

I used to look at pension statements often, but been several years now, but I remember seeing pensions with 100k plus, and thinking, wow, until you see how much it pays out a month and thinking, is that it?

I'd need to check my pensions I have 2 and both are small, I am also wondering how valuable pensions will be in the future, Vs say investing in a property and if you are able to pay that mortgage off, living off the rental income.
 
BUDFORCE said:
I'd need to check my pensions I have 2 and both are small, I am also wondering how valuable pensions will be in the future, Vs say investing in a property and if you are able to pay that mortgage off, living off the rental income.
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Pension contributions are tax free so you'd need to be making at least 40% (for higher rate folk) on any other investment to get out of bed. And then of course the pension itself is invested. So investing in property is a "tier 2" / people who are likely to die before 57 strategy IMO.
 
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