Is there a point in Pensions

pinkteapot

Tom - don't worry about moving companies in the future. As you have found, sometimes you can't "transfer in" your existing pension pot to the new one, but it still remains your account. It's just no longer being paid in to.

As a result of moving jobs, I have three different pensions. Two are fairly small (I wasn't in the jobs that long). The third is larger and is being paid into currently. The two small ones are still money that's invested for the long-term though.

fairleads

atush wrote: »

The cold reality is, you made a huge mistake and the fact you can't see it is quite frightening.

68 yrs old and now in my 13th year of a taxfree income supported retirement. So whether it was a mistake or not is irrelevent. Remember guys, you're a long time dead. Perhaps if you were to spend a little more time researching alternative retirement funding options, instead of spending all your time blogging here, or worse, taking instruction from your IFA husband? you might just see the light. After all you are a three times over property owner - not so?

fairleads

jem16 wrote: »

The cold reality is that your decision has likely cost you thousands. If you were happy to commit financial suicide then great but please don't try to advise someone else to do so too.



My calculations are based on one year into a current final salary pension which then became deferred. That one year is protected as accrued benefits and is not based on whether or not final salary pensions are sustainable over the long term.

Anyone not taking advantage of a final salary pension needs their head looking at.

Anyone who commits themselves to 60 yrs (or more) of partnership with HMRC who controls most of your retirement savings and dictates the when where and even how much you can retire on is missing out on lifes opportunities, but then entrepreneurship is not for every one is it. However, in the case of the OP, may be they do have those qualities in which case they would be better off investing in themselves instead of a future promise that they might not even live to see - not nice to say i know - but life is for living 'cos we only get one chance.

real1314

fairleads wrote: »

Anyone who commits themselves to 60 yrs (or more) of partnership with HMRC who controls most of your retirement savings and dictates the when where and even how much you can retire on is missing out on lifes opportunities, but then entrepreneurship is not for every one is it. However, in the case of the OP, may be they do have those qualities in which case they would be better off investing in themselves instead of a future promise that they might not even live to see - not nice to say i know - but life is for living 'cos we only get one chance.

The choice the OP is asking about here is for the amount of money they need to contribute to get the employers contribution. The £1500 or so that it needs will reap a reliable return.

You seem to want to evangelise for some other option that you have taken, but you haven't said what it is, or how £1500 per annum can be used to create either a) a decent retirement income or b) a worthwhile improvement to the OPs life worthy of losing the future pension rights.

Whilst you may well have something to contribute, your posts are simply opinion without any suggestion of a whiff of assumption, let alone any sort of reasoned projection.

I think you are just trolling. You know if you are or not. :cool:

atush

fairleads wrote: »

68 yrs old and now in my 13th year of a taxfree income supported retirement. So whether it was a mistake or not is irrelevent. Remember guys, you're a long time dead. Perhaps if you were to spend a little more time researching alternative retirement funding options, instead of spending all your time blogging here, or worse, taking instruction from your IFA husband? you might just see the light. After all you are a three times over property owner - not so?

Point 1, I have no IFA husband or any other relative who is an IFA or a related profession. I am a biologist.

Point 2- fair that you are happy (and I am actually happy for you beleive it or not), but I still say you would have been better off with your partial FS pension supported by all your other ISAs.

Unlike you, I see value in both. And I NEVER say to not invest in S&S ISAs, I am a fan.


So, i'll spend my time as I like, but hopefully w/o blinders on like you do?

I was away for over a week, so was off having fun and living life large- so wasn't here clogging/blogging up the airways lol.

And yes, I have 3 properties (don't know why you brought this up or are concerned with it quite frankly), one with 90% equity , one with 60% equity and one paid off. Care to tell abt yours? And I bought all of them, w/o much input from the OH. He isn't much interested.

jem16

fairleads wrote: »

Anyone who commits themselves to 60 yrs (or more) of partnership with HMRC who controls most of your retirement savings

Sounds like you've been letting the tax tail wag the dog resulting in very cloudy judgement.

fairleads

jem16 wrote: »

Sounds like you've been letting the tax tail wag the dog resulting in very cloudy judgement.

Good to see you have a sense of humour because that is really funny

fairleads

real1314 wrote: »

The choice the OP is asking about here is for the amount of money they need to contribute to get the employers contribution. The £1500 or so that it needs will reap a reliable return.

You seem to want to evangelise for some other option that you have taken, but you haven't said what it is, or how £1500 per annum can be used to create either a) a decent retirement income or b) a worthwhile improvement to the OPs life worthy of losing the future pension rights.

Whilst you may well have something to contribute, your posts are simply opinion without any suggestion of a whiff of assumption, let alone any sort of reasoned projection.




I think you are just trolling. You know if you are or not. :cool:

That is grammatically and thus factually incorrect.
As to the trolling, isn't thatfor the OP to decide, after all if you can't stomach what i have to offer i have to ask why come to the table?

real1314

fairleads wrote: »

That is grammatically and thus factually incorrect.
As to the trolling, isn't thatfor the OP to decide, after all if you can't stomach what i have to offer i have to ask why come to the table?

Ironically you've nailed yourself to the mast. Oh dear, off you trip-trap-trot. :cool:

atush

And does anyone here remember what hapoens to what is nailed to the mast?

Not a pleasant fate to my thinking.