Something that doesn't seem to get mentioned

Prudent

chucknorris wrote: »

As far as I know though I can still retire early if I feel the need and just wait until I'm 65 to actually take the pension (do you know if this is the case?). I don't actually need that income, I just think it's good value so I can afford to wait.

I don't think they could change the goal posts on how much you recieve once I have paid my lump sums (or at least I hope not).

As long as you take it with your existing pension from teaching that is fine. Worth looking at the calculators that are showing the impact of pension changes on teacher's pensions though. There is one on the EIS website.

The_White_Horse

my pension should be on stage in Las Vegas. it is the best magician i know. each month money goes in, but yet, the sum never seems to grow. the amazing disappearing money act.

Cleaver

The_White_Horse wrote: »

my pension should be on stage in Las Vegas. it is the best magician i know. each month money goes in, but yet, the sum never seems to grow. the amazing disappearing money act.

You should get a public sector pension, then you wouldn't have that problem.

The_White_Horse

Cleaver wrote: »

You should get a public sector pension, then you wouldn't have that problem.

don't i know it.

public sector greed knows no boundaries. far greedier than any capitalist could dream of.

Cleaver

The_White_Horse wrote: »

public sector greed knows no boundaries. far greedier than any capitalist could dream of.

filthy left wing scum. blood sucking thieves. cut them by 60% now and stop the greed.

Jimmy_31

Cleaver wrote: »

filthy left wing scum. blood sucking thieves. cut them by 60% now and stop the greed.

I agree:)..

Ilya_Ilyich

In what way would crippling public sector pensions deal with the problem of bad pensions in the private sector?

Le_Chuck

Ilya_Ilyich wrote: »

In what way would crippling public sector pensions deal with the problem of bad pensions in the private sector?

it wouldn't, but it would make the private sector feel better

kabayiri

So if I understand this, in the future we will have :-
- a large percentage of pensioners in poverty
- a government keen to attract votes
- pensioners outnumbering the young
- pensioners twice as likely as the young to vote (as was the case last election).

It can only spell trouble! Best hide the Werthers Originals.

BobQ

Graham_Devon wrote: »

I'm the only one, out of my 4 best mates with a pension. And I only started that up this year and its projected value isn't something you could live off, so it's more a supplement to any basic state pension.

This doesn't seem to get mentioned that often, but is there a pensions crisis about to hit in a couple of decades?........

.

I fear you are right. When I started work (1980s) I felt sorry for the people retiring to a basic state pension, most had grafted in manual jobs for over 40 years for a meagre retirement while the few lucky professionals (teachers, dentists, civil servants etc) were the lucky ones. I was determined to be one of the lucky ones. I joined the civil service for a few years. Friends assured me I was a mug to work for a low salary in the public sector when they were building up pension pot invested in the stock market that would enable them to retire at 55 so off I went to join them. Seemed good for years but then the pension fund went down (pension holidays, Gordon, stockmarket falls whatever) and now the public sector pensions looked more attractive. Fortunately I made some lucky investments and now do not need to worry. But I still see honest public sector workers being sniped at for making a good decisions about pensions by those who have been affected by wider economic factors and have seen their pension pot fall and can to a degree understand their viewpoint.

I can see why young people do not want to invest in a pension and fear that many will not. The Government is now attacking the public sector pensions to spread the misery experienced by the private sector victims of economic policy. In reality we will all suffer through an impoverished older generation. I find it quite obscene.

How we make the younger generation trust the financial services sector to deliver good pensions in the future after the banking crisis, endowment scams and their inability to invest wisely I do not know. How they will trust public sector pensions when they are being supressed for political reasons I do not know. What is clear is that with student loans, housing costs and a low wage economy people will never be able to afford to invest in pensions even if they had the confidence to do so. There is a crisis, its not any one Government to blame, but it is going to be a big problem. We have moved back 100 years I fear.