Pension fund going down the pan

DD4

DiggerUK wrote: »

There are a plenty of alternatives to provide for financial security in retirement.

Such as?

DiggerUK

dunstonh wrote: »

That is the trade off for getting tax free growth and tax relief on contributions.

Relief from the left hand of the tax man today, set against the right hand of the tax man tomorrow. Some of it goes back the other way.

Providing your fund is worth anything at 55+ anyway.

TMFTP

bendix wrote: »

the more idiots there are deciding to cancel their pensions and planning to be poor in retirement, the richer those of us who actually use their brains will seem by comparison.

Wrong.

The more taxes we'll have to pay to support the idiots....

bendix

DiggerUK wrote: »

The public is starting to realise that handing over your money to pension funds, in the hope that by the time they are 55, you can have financial security in retirement, is a lot of stuff and nonsense.

The mantra that pensions are a good thing, comes from the days when I started work and nearly all pensions were final salary or defined benefits. I began life as an engineer and had such a pension, at 2% contribution.
Those were pensions worth having.

What other financial product asks anybody to invest, on the basis that you hand over control of your money till you are 55, can never change your mind, and don't get any guarantees of your returns. You'd be bonkers to invest.

It's over for the pensions industry, read the writing on the wall, read the posts that keep coming up here. There are a plenty of alternatives to provide for financial security in retirement.

It's hard to take any post seriously from the guy who categorically states that gold is a "no-risk investment". :rotfl:

bendix

dunstonh wrote: »

If you dont like it then dont use the pension. Use an ISA instead. However, be prepared to have to pay more into the ISA to make up for the lower income you will get.

Diggers two road to riches (based on his posts here) are gold and premium bonds.

As such, his credibility left the building with Elvis ages ago.

DiggerUK

bendix wrote: »

Diggers two road to riches (based on his posts here) are gold and premium bonds.
QUOTE]

If you are going to quote me, quote me right.

DD4

Why not quote yourself Digger. I asked earlier for your views on what you think are better retirement vehicles than a pension. I'm still waiting, though perhaps you missed my question?

DiggerUK

DD4 wrote: »

Why not quote yourself Digger. I asked earlier for your views on what you think are better retirement vehicles than a pension. I'm still waiting, though perhaps you missed my question?

http://forums.moneysavingexpert.com/showthread.html?t=1963899

bendix

DiggerUK wrote: »

bendix wrote: »

Diggers two road to riches (based on his posts here) are gold and premium bonds.
QUOTE]

If you are going to quote me, quote me right.

Are you denying you posted yesterday that 'gold is a no-risk investment'?

DiggerUK

bendix wrote: »

Are you denying you posted yesterday that 'gold is a no-risk investment'?

Yesterday, the day before that, the day before that, the d.........