Private pensions

Vanilla · 31 May 2007 at 16:22

Does anyone contribute to one?

I contribute to my work pension the maximum I can and they match that. I can overpay...but they wont match that and I don't know if it'd be the best deal. The pension is looked after by Mercer.

Any idea what the best private pension is? I'm looking to put away only £100-150 a month...so not massive amounts but every little helps eh.

Looking for a simple system that takes it out of my bank direct debit and I can track it maybe.

dirtydog · 31 May 2007 at 16:27

Vanilla said:
Does anyone contribute to one?

I did for a while but stopped when I realised there were no guarantees about what it would pay out and it was foolish to do so.

I'm looking to put away only £100-150 a month...so not massive amounts but every little helps eh.

Don't you still live with your parents or am I confusing you with someone else

Vanilla · 31 May 2007 at 16:37

dirtydog said:
Don't you still live with your parents or am I confusing you with someone else

Yeah, house hunting at the moment but I still have a lot of disposable.

dirtydog · 31 May 2007 at 16:40

Arguably you would be better to forget about the private pension and put all your money towards moving out / buying a property.

Admiral Huddy · 31 May 2007 at 17:10

Private pensions are waste of time.. although in all honesty it's better to put something away than nothing but in reality, they are never going to buy you a decent annuity.

I've been stuffed left right and centre throught various private pension, all taking there bite..

Always go for a company pension scheme if your offered one.

Personally, I have a company scheme which is a good one but my moneys on paying off the mortgage now whilst rates are low and buying a flat latter when prices come down.