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New pensions freedom under attack before they start
Comments
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A link to the report in question for those who want to spread their irritation out over a coffee and sandwich...:)
http://www.publications.parliament.uk/pa/cm201415/cmselect/cmworpen/668/668.pdfI work for a financial services intermediary specialising in the at-retirement market. I am not a financial adviser, and any comments represent my opinion only and should not be construed as advice or a recommendation0 -
Sounds like a good way to discourage people from putting money into their pension. I'm currently pouring money into my DC pension so that I can retire at 55, and wait for my deferred DB and state pension to start at 65/67. If I won't be allowed to access the DC pension money until 60, then putting money into my DC pension is much less attractive.0
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It also seems like an excellent way of encouraging pension liberation fraud. Rather ironic considering that a key theme of the report was to protect savers from scams :think:I work for a financial services intermediary specialising in the at-retirement market. I am not a financial adviser, and any comments represent my opinion only and should not be construed as advice or a recommendation0
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Please get writing to MPs, particularly if on the list of major culprits above.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.0 -
How the hell I'm I supposed to plan for retirement when they keep changing the rules!0
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My MP is one of those listed but I won't be writing to them to object as it seems very sensible to me that pensions shouldn't be accessible early.Lost my soulmate so life is empty.
I can bear pain myself, he said softly, but I couldna bear yours. That would take more strength than I have -
Diana Gabaldon, Outlander0 -
And you're happy for the definition of "early" to be changed on a whim, as often as they like, with very little notice, in ways that might not fit your retirement plans?
If you don't want to retire early, then simply don't rather than arguing that no-one should.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.0 -
gadgetmind wrote: »And you're happy for the definition of "early" to be changed on a whim, as often as they like, with very little notice, in ways that might not fit your retirement plans?
If you don't want to retire early, then simply don't rather than arguing that no-one should.
As the state pension age continues to rise it makes sense for the age at which you access a private pension to also rise. Personally I think this applies only to those who are rich enough to retire early, the norm amongst my circle is that the state retirement age is the age when you retire.Lost my soulmate so life is empty.
I can bear pain myself, he said softly, but I couldna bear yours. That would take more strength than I have -
Diana Gabaldon, Outlander0 -
Torry_Quine wrote: »As the state pension age continues to rise it makes sense for the age at which you access a private pension to also rise. Personally I think this applies only to those who are rich enough to retire early, the norm amongst my circle is that the state retirement age is the age when you retire.
The private pension retirement is already set to rise with the state pension. I'm not rich and I've made significant sacrifices to retire early, setting the retirement age to 60 would force me to divorce my wife in order to rescue my plans (she is 5 years older)0 -
It looks like a scare story from the Telegraph, implying this is going to happen overnight, when the actual report talks about establishing some "commission" to look at it, with almost an addendum that their view is it should be 5 years below SPA.
Whereas the Telegraph talks about age 57 for women as if it would apply immediately.0
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