Are annuities really such a bad deal?

kidmugsy

Linton wrote: »

So you arent bothered about the something like 50% chance you will live beyond 87? Or the much greater than 50% chance that at least one of a couple will live beyond 87?

What he said may have been code for "I'll expect the taxpayers to subsidise me".

showmethehoney_2

p00hsticks wrote: »

Even then, unless the person has been able to get their house in tip top condition before retirement, financing any major essential maintenance items that come along from time to time such as re-roofing, replacing boilers or double glazing are going to be difficult to manage on an income of £140 a week

Come on, I made it perfectly clear that I'm talking about a couple on £300 a week who've also made other provisions. People are going to be auto enrolled into a second pension so unless they opt out they will have more than the basic. Yes, if you're totally reliant on a basic state pension, are single, have no savings, your house is falling down, &c, life is going to be miserable.

atush

Surely you mean 2x144, not 300 a week?

And what if one dies? what if they divorce? Happening more and mroe to the over 65's.

showmethehoney_2

atush wrote: »

Surely you mean 2x144, not 300 a week?

And what if one dies? what if they divorce? Happening more and mroe to the over 65's.

I meant 2x£147 which is close enough to £300. And if you average out the winter fuel allowance over the year it adds up to £300 a week, if it's still being paid. If they divorce or one dies they're not a couple anymore and I refer you to my previous post where I remind everyone that I'm talking about couples!

atush

What % of pensioners are in couples?

Should be a statistic out there?

showmethehoney_2

atush wrote: »

What % of pensioners are in couples?

Should be a statistic out there?

What the hell has that got to do with anything? If we're discussing apples there's no point bringing up pears. You might ask what percentage of pensioners who are looking at a thread about annuities will have nothing but the state pension to live on.

atush

Because once you post a thread here, it doesn't belong exclusively to you. So perhaps other points will be relevant to other posters? As many will be single or will become singe then have to make do with a single 144/wk.

and please dont' swear.

Triumph13

enator wrote: »

Funny thing is, I am not looking to retire just yet and forgot I put 56 as the preferred retirement date on my employer's pension scheme so the quote appeared out of the blue.

I take it you're not invested in a 'lifestyle' option that automatically moves the investments to 25% cash 75% bonds in the run up to your preferred retirement date? These preferred retirement dates can be sneaky little b#####s if you're not careful!