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Did you watch the programme about the pensions tonight?

happy_snapper
happy_snapper Posts: 85 Forumite
in Pensions, annuities & retirement planning
I have been paying into a private pension with Eagle Star for around 16 years ( only around £50.00 to start with and i now pay around £65.00). Now i do realise this amount will be relatively useless when i reach age 65 ( i am now 40)

I realise i can stop contributing to it if i choose to but my question is this can i only freeze my already contributed amounts or is there some way i can free up this money to use for a business investment...?

Thanks in advance ;)
I am opposed to millionaires, but it would be dangerous to offer me the position :rotfl: :D I never want to be skint :eek:

Comments

  • dunstonh
    dunstonh Posts: 120,428 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    It can be used for commercial property investment for your business if you wish. Although 16 years at 50 odd pounds a month makes that unlikely.

    You can also investigate switching it to a modern pension contract with a massive range of investment options. Or your existing one may not be that bad. Old Eagle star plans did have Guranteed annuity rates on some of their plans IIRC.
    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.
  • j-baby-scotland
    j-baby-scotland Posts: 1,744 Forumite
    The programme was a bit of an eyeopener wasn't it?
    :D
  • Troubleatmill_2
    Troubleatmill_2 Posts: 252 Forumite
    Part of the Furniture Combo Breaker
    Erm...not really....

    It was soundbite stuff... but not really informative nor really journalistic.
    Pretty much Jeremy Kyle stuff.

    But... each to their own.


    Best
    Troubleatmill
  • Debt_Free_Chick
    Debt_Free_Chick Posts: 13,276 Forumite
    10,000 Posts Combo Breaker
    We have another thread about it.
    Warning ..... I'm a peri-menopausal axe-wielding maniac ;)
This discussion has been closed.
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