Withdrawing a lump sum help please

dunstonh

What's the point in pay thousands into sum pension it's point less, my dad paid into it for years and years an look what he's getting back.

Your dad paid virtually nothing into the pension. He has 30k in his pension. Thats about what someone should be aiming to have in their pension by age 32.

To put that figure of 30k in context, that is equivalent to saving £8.43pm from age 20. Or 20 years of £58pm

I say sod pensions an sod the stupid idiots in charge of them an the !!!'s running are banks and country, u lot are pay thousands into them an the big fat cats sitting at the top are raping the companies dry,

I don't know what irritates me more. The fact you are allowed to vote or the fact my taxes are going to be bailing you out so you can live on the breadline when you retire. I say sod you and let you rot in poverty.

jamesd

Your dad's average payment into pensions if he was paying in for 30 years was just £600 a year if he was getting 20% basic rate tax relief for all of that time. It was really less because that completely ignores growth in the pension investments. If both pensions pay out at the same rate he'll get £1149 a year in pension payments. If he lives to the age half of all men aged 65 today live he'll be getting that for the next 23 years. Given the amount that's probably a pension that increases with inflation each year and might have a 50% payment for his spouse, if any.

If he's buying an annuity he should remember that it's usually a bad idea to buy the annuity from the company he was saving his pension money with. He'll get the highest income by going to an IFA found from unbiased.co.uk so the IFA can find the best deal in the market. That's even more important if his health isn't perfect - say if he's overweight or smokes - because those things increase the payout he can get.

McKneff

Head and brick wall spring to mind lol

(looks like theres only me and you up at this ungodly hour JamesD) lol

[Deleted User]

Hi,

jzr172 wrote: »

I am 28 never had pension an never every will I pay into one

Lokolo wrote: »

So you're never going to retire eh? Work til the death bed?

more'n likely just never work, benefits, benefits, benefits. :mad:

RichandJ

[Deleted User] wrote:

Hi,





more'n likely just never work, benefits, benefits, benefits. :mad:

Given the spelling, grammar, lack of comprehension and general attitude, sadly I'd have to concur.

Probable interests:
red top tabloid;
ITV talent(less) programmes;
& going down the pub.

Feel free to add your own.

jzr172

Well sorry guys but I have worked since I was 17 bought my own house when I was 20

So sod the lot of u jumped up !!! licking dicks, I asked a simple question because I have never had a pension an my dad has not got a clue with them either, an before you say he is stupid, he had been a site manger for years an before that was self employed as a carpenter.

It's my own right not to have a pension I own two homes so that's my pensions pot:rotfl:

dunstonh

It's my own right not to have a pension I own two homes so that's my pensions pot

You keep kidding yourself that 2 properties will be enough.

McKneff

2 properties and a big chip on the shoulder.

And no one called your dad stupid. Naive maybe, uninterested enough not to find out about it all.

But you, now you have had things explained to you in more detail, if you dont take a pension out - now that's stupid.