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Pensions
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DonGotti
Posts: 610 Forumite
I am saving for a deposit for a new flat/house and do not wish to enter in a pension right now with my local government employer as I need all the dough I can get. Can I opt in after and in your opinion is this a bad decision?
0
Comments
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is this a bad decision?
Yes.
The LGPS is a cracking pension scheme and will be worth a fortune (effectively) to you in retirement. The relatively small contribution they take from you is nothing to the benefits you will get back. You get life cover, some ill health benefits, pension for you and your spouse/dependents.
Ff you feel you cannot afford that pension contribution now, then you wont have a hope when you have a flat/house as the bills for homeowners are just going up and up all the time.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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