elantan's diary

ZTD

They're called trivial because they're 1% or less than the "maximum lifetime allowance" of £1.5 million in your pension pot.

And there are some people who go beyond that...

elantan

ok now i'm getting scared ...again...i dont think mine even amount to £500 a year ...i can see cats and bread and water before my eyes....will need to look into this

se999

We're starting to worry about pensions here too. For a few years there was no way we could afford to put anything in to a pension. Now we know we need to, but also need to do some other major purchases too. Also we all know of poeple who didn't 'last' until pension age, so don't want to put lives totally on hold until we retire.

It does seem to be a bit of a juggling act to get the balance right.

ZTD

elantan wrote: »

ok now i'm getting scared ...again...i dont think mine even amount to £500 a year ...i can see cats and bread and water before my eyes....will need to look into this

You've got to remember, that if you have no pension - the Government will not let you starve. You'll have the state pension and then income support to top that up to a liveable level. Though I believe that was all wrapped up in the "minimum income guarantee".

If you take your trivial pension pot as a lump sum - then you will have no pension.

If you do have a pension - then you're in a completely different boat. You will be allowed to subsist on mouldy cats because "you have a pension" despite it being less than the benefits it will disqualify you from.

It is like you said - if you have a sooper-dooper one - you'll be fine, if you have none - you'll be fine, but if you fall somewhere in the middle - you may be in trouble.

Ironically, with my occupational pension...I may be in trouble.

Gemmzie

Best get matched betting! That's my pension

Pensions scare me, mother wants me to sort hers - not a clue

elantan

ok i just worked out using a program given to me by the o.u female aged 35 looking to have an annual income of £17,000 when they retire (in todays money) would need to save £732 after tax relief a month now that just aint gonna happen is it? mouldy bread and cats for me i'm deff gonna look into this trivial pension thing and put any money i have under my mattress lol

hypno06

Ah, don't worry El, we will eat mouldy bread together.

I hope you are having a good weekend.

elantan

thanks hypno...looking forward to swapping cat meat recipes with you .... just back from the second day of training it would make life so much more enjoyable if the training was actually geared for us and not well you can listen in you might learn something ....

The_Dragon

Phew just finished reading all this! Elan you are having a time and a half of it at the moment!

Have you heard anything more about the Insurance from the two accidents? (and I can't believe the same thing happened to you just a year after the first one!) - if your son has just turned 16 then he will not be able to learn to drive for another year surely?

Good luck with everything else!

elantan

hey dragon welcome to my world well done for getting this far (you do deserve a medal for it believe me) funny that you should mention my accidents i went for a medical for the second one today it went as well as can be expected i did however keep referring to the first accident as a kindve comparison ie first accident this happened this time this happened...i have now been passed over to a lawyer for the rest of the claim after the guy denying all knowlege ....as for the first accident i am just waiting to go to court over, i really would love to put this first accident to bed now it has went on for far too long and i feel i need some closure with it ....the son well where would i start with this one deep breaths are needed there i think lol ...his driving lessons he has agreed he will wait till he's 17 but now he wants the money instead argh i could scream sometimes....i do feel i am slowly getting back on top of the debt again i am making in roads with the visa's and still plodding on with the car payments i'm even slightly optomistic that if i can get my visa paid off and get the car payments coming out in time every month then maybe if i get a big enough claim ( i aint expecting that much just a wee bit more than i got offered fingers crossed) i might actually be able to spend some money in my garden so i can start growing my own veg etc ...one thing i have discovered about myself this year is i need to start looking after myself mentally and physically and i want to do that through excercise and diet and would love to grow my own veg for the benefits you recieve mentally as well as the nutrition ...anyway sorry for waffling on (bet you didnt want that much info lol) keep in touch