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MSE News: 'Pooled' schemes to boost pensions unveiled in Queen's Speech

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Comments

  • Pincher
    Pincher Posts: 6,554 Forumite
    rpc wrote: »
    Annuities have not been required for a while now (is this the third time we've been told that requirement has been abolished?). Don't want one? Don't buy one.

    Previously, you had to leave some in the pot. Now it's fully flexible. Bound to be some catch though.
  • rpc
    rpc Forumite Posts: 2,353 Forumite
    Pincher wrote: »
    Bound to be some catch though.

    If you spend all your money and didn't take precautions to secure an income for your whole retirement, don't expect the state to bail you out?

    Seems fair enough to me.
  • Pincher
    Pincher Posts: 6,554 Forumite
    rpc wrote: »
    If you spend all your money and didn't take precautions to secure an income for your whole retirement, don't expect the state to bail you out?

    Seems fair enough to me.


    If you have £200k in your pension pot, it's a good retirement.


    If you have £50k in your pension pot, it's a lingering torture on an annuity. Much better to live for eleven years on £10k + state pension per year, and then sign up for a free NHS euthanasia visit.
  • grey_gym_sock
    grey_gym_sock Forumite Posts: 4,508 Forumite
    Pincher wrote: »
    If you have £50k in your pension pot, it's a lingering torture on an annuity. Much better to live for eleven years on £10k + state pension per year, and then sign up for a free NHS euthanasia visit.

    what a load of rubbish. anything on top of a state pension is better than nothing.

    you've already said that you have enough to live on without touching your pension pot. that is a good reason not to buy an annuity. annuities make sense for ppl for who trying to maximize their retirement income, because they barely have enough.

    the gratuitous reference to euthanasia, and other random emotive language, suggests that you are aware your argument is weak.
  • gadgetmind
    gadgetmind Forumite Posts: 11,130
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    Annuities will remain a good option for many people.

    And they have been just one of several options for many years, so I wish they'd stop making the same announcement over and over again!
    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.
  • kidmugsy
    kidmugsy Forumite Posts: 12,709
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    gadgetmind wrote: »
    And they have been just one of several options for many years, so I wish they'd stop making the same announcement over and over again!

    Most people pay no ruddy attention so that you have to shout repeatedly if you want them to notice. On this matter I sympathise with the govt.
    Free the dunston one next time too.
  • gadgetmind
    gadgetmind Forumite Posts: 11,130
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    Well, maybe, but it's getting a bit like DFS having a sale on!
    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.
  • grey_gym_sock
    grey_gym_sock Forumite Posts: 4,508 Forumite
    DFS have a sale on?! no-one told me ...
  • Ken68
    Ken68 Forumite Posts: 6,825
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    We already have a pooled system...it's called State Pension.
  • gadgetmind
    gadgetmind Forumite Posts: 11,130
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    The state pension isn't a pooled system as there is no pool. Each generation gets to pay for the previous ones, which works as long as there are enough new mugs for the ponzi scheme.

    What could possibly go wrong?
    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.
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