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Cannot take pension now till aged 55
Comments
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strictly speaking that was highway robbery. Esp when he spent it and there is nothing to show for it.
He also flogged all of our gold at a point that's now called the "Brown Bottom".
Everything that man touched turned to 5h1t.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
gadgetmind wrote: »I know someone who saved HARD to be able to retire at age 50 even though this meant he had to forgo a lot of life's luxuries. Then one day he met with the company pensions adviser and discovered that, without consultation or right to appeal, they had moved it back to 55 as he'd been born two weeks too late.
I'd like to retire at 55 but HMG might eliminate tax relief with a wave of their hand, of start taxing the 25% PCLS, and move the pension benefits age back to 60, or throw any number of other arbitrary sticks into my spokes.
Meanwhile, MPs pensions will retain their gold plating with diamond pavoir.
Is that the fault of the company he worked for, their pension scheme Trustees, the pensions industry as a whole or perhaps the socialist lobby fodder that voted it thru ?
Be careful who you vote for, you might get exactly what you deserve.
As I've said before the pension arrangements of c 650 people do not absolve you of responsibility, although those same c 650 can severely f your plans up.It only takes one tree to make a thousand matches, it only takes one match to burn a thousand trees. As well, the cars are all passing me, bright lights are flashing me.
Johnny Was. Once.
Why did he think "systolic" ?0 -
gadgetmind wrote: »I know someone who saved HARD to be able to retire at age 50 even though this meant he had to forgo a lot of life's luxuries. Then one day he met with the company pensions adviser and discovered that, without consultation or right to appeal, they had moved it back to 55 as he'd been born two weeks too late.
I'd like to retire at 55 but HMG might eliminate tax relief with a wave of their hand, of start taxing the 25% PCLS, and move the pension benefits age back to 60, or throw any number of other arbitrary sticks into my spokes.
Meanwhile, MPs pensions will retain their gold plating with diamond pavoir.
Don't worry, we'll be suggesting reforming MPs pensions and already have. I'm not forgetting that shoiuld be firmly on the agenda.
In any case, when changes come in, there is a time period where you can quite often do things that can mitigate any changes. Such as the current age of 55, it was announced a few years in advance so some had the time to 'retire' before 55.
In any case, 55 is far too young to retire. My husband wants to retire at 60, but I have told him sorry- 65 lol. Esp as he bought a ticket to the EM lottery and didn't win.
On the good news side, one of my twins won a premiumbond prize today. A whopping 25 quid. but we only have 500 worth of bonds as a lark bought a few years back, and i have won 100, husband 25, and DS3 25. If the other two win, we will be a Full House ;-)0 -
Is that the fault of the company he worked for, their pension scheme Trustees, the pensions industry as a whole or perhaps the socialist lobby fodder that voted it thru ?
It was the fault of HMG and no-one else. They changed the rules. They keep changing the rules. Planning for your pension is like trying to walk in a straight line during an earthquake.
Dear HMG: STOP CHANGING THINGS NOW! Maybe even put them back as they were a few years ago, as we didn't have complex caps and didn't have 10% of our dividends going into HMG's pockets rather than ours.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
gadgetmind wrote: »It was the fault of HMG and no-one else. They changed the rules. They keep changing the rules. Planning for your pension is like trying to walk in a straight line during an earthquake.
Dear HMG: STOP CHANGING THINGS NOW! Maybe even put them back as they were a few years ago, as we didn't have complex caps and didn't have 10% of our dividends going into HMG's pockets rather than ours.
Oh, if they did that I'd run down the Embankment in London in my underwear.
OK, maybe not, that wouldn't really be fair on anyone who saw it.
The sentiment still stands though, a period without political pensions legislation would be nice. Trouble is that would require at least one MP who understood the maths. Chance about the same as winning the Euro Lottery I think.It only takes one tree to make a thousand matches, it only takes one match to burn a thousand trees. As well, the cars are all passing me, bright lights are flashing me.
Johnny Was. Once.
Why did he think "systolic" ?0 -
There's a lot of money in whelks!"If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red Adair0
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