Having a private pension is NOT a good idea.

bendix

seven-day-weekend wrote: »

I agree with you Bendix.

However, we must be aware that having a small pension can make someone worse off in real terms than someone who does not have one at all, it happened to my m-i-l. She had worked all her life in a manual job and just did not have enough money to save for a large pension. So despite working for fifty years,(14-64) she ended up worse off then her sister who had never worked because she was not entitled to all the freebies

But that is no reason not to try to save for your own retirement, nor to tell everyone else they are wrong to do so. We all have that responsibility, imho.

Such things only happen because of the benefits culture - what used to be a safety net is now a lifestyle choice and this thread is evidence that we can now add another intended/unintended consequence to it - the perception that saving for retirement is a waste of time. Others include it's better off not working.

What a great job Labour has done.

savingforoz

I reckon Bendix is spot on with what he's saying here. OK, he doesn't suffer fools gladly (and why should he?) or mince his words, but I don't see why he gets such stick for having the view that people should take responsibility for their own lives and futures and not rely on state provisions. That, surely, is the way that any mature adult should behave.

Bendix, if more people thought and acted like you, maybe this country wouldn't be in such a mess. Don't suppose you're free and single, are you?

Lokolo

savingforoz wrote: »

I reckon Bendix is spot on with what he's saying here. OK, he doesn't suffer fools gladly (and why should he?) or mince his words, but I don't see why he gets such stick for having the view that people should take responsibility for their own lives and futures and not rely on state provisions. That, surely, is the way that any mature adult should behave.

Bendix, if more people thought and acted like you, maybe this country wouldn't be in such a mess. Don't suppose you're free and single, are you?

He's likes the oriental women

dunstonh

bendix wrote: »

Such things only happen because of the benefits culture - what used to be a safety net is now a lifestyle choice and this thread is evidence that we can now add another intended/unintended consequence to it - the perception that saving for retirement is a waste of time. Others include it's better off not working.

What a great job Labour has done.

I know its OT but there is a thread just started on the mortgage board where someone is asking if they can get compensation for being sold a fixed rate mortgage 7 years ago and therefore hasnt gained from the lower mortgage rates. Now that is real benefits/compensation culture for you.

This recession and the need to reduce the deficit and debt could end up being a long term blessing in disguise. The reduction in benefits, making in harder to get them and reduction in red tape and regulation may encourage self responsibility again.

bendix

savingforoz wrote: »

Bendix, if more people thought and acted like you, maybe this country wouldn't be in such a mess. Don't suppose you're free and single, are you?

Thankfully no, savingforoz. I'm hopelessly devoted to Mrs Bendix.