Pension Provision

[brocklanders023]

Ive paid in 11% of my salary a month for 20 years and have just under 10 to go.......

I hope they leave the Fire Brigade's pension alone :evil:

I'm 11 years into mine stedlocks but fear they'll be coming for it soon. Already heard whispers and it's not good.

What really gets to me is that I joined the scheme in good faith and have paid 11% every month. All the while those in charge have been spending MY pension pot on whatever they fancied thinking they'd never have a problem. Now there's no cash and less people paying into it because of cuts (with more to come) so they're coming after us with the help of the right wing press and numpties that believe everything they read in these sh*t rags. :evil: :evil: :evil: Yes, I'm angry, and wouldn't you all be if you were about to be robbed of the security you thought you were providing for yourself? :evil: :evil: :evil:

Just as thousands of people in the private sector already have been, but nowt ever gets done about it... :twisted:

That may be the case, but what did they do about it? I'm not for one minute saying it's right but I can just see the headlines if we dare to suggest we're not going to take it straight up the ar*e. Union scum, blah blah blah. :evil:

 

[MartinYorkshire]

This is obviously a rather emotive subject for many.

My early career as a software developer offered pension schemes in abundance. This was after the initial dotcom bubble. I sat on my hands mostly, refusing benefits and negotiating for a higher salary instead. Im not convinced my strategy worked. For that matter, I am not convinced any strategy would have worked.

These days I run my own show. Business and pension.

I sat down around 5 years ago and worked out that I would have to put away £700 per month to provide myself with a half decent, inflation adjusted pension. Lets say enough to retire at 65 and have one holiday a year. I dont think this is unreasonable to expect but £700 a month. Its a lot of damn money and even with that contributions I need a 5% annual return over the full term. Achievable as long as all the assets are held off shore.

Had I realised that we were surrounded by money grabbing scumbags in my late teens, I would have began saving £200 a month from the word go. Kids dont realise it, but by doing so and investing carefully, you can make yourself a millionaire by retirement quite easily. If you increase contributions as you age, you're pretty much guaranteed prosperity in retirement. Hindsight is so wonderful.

As for me, I've decided to quit the housing market once and for all and commit the ludicrous amount it releases into investment towards additional pension funds. These will be in areas that I know about and can predict with a modicum of accuracy. So my pension fund is exactly that, mine. Its actually quite therapeutic to control your own money, investing strategically.

No more money tied up in housing for me. Whats the point? They simply take it off you for residential care anyway.

The money I'll save via renting will see me in a very nice estate in Panama in 20 years time if things pan out even roughly.

That said, if it all blows up in my face, its all down to me rather than some half assed civil servant in Whitehall.

Ding, dong.

 

[dyna-ti]

I trust my government to look after me and keep me in comfort in my old age