Is everyone's pension better than mine,

SJG1

Still waiting to see how Railway Pension Scheme will be affected by the new changes coming in from Apr 2016.

So that might have an effect on your pension. I should be protected from any changes as ex BR/TUPE but we will see.

Goldiegirl

It's pointless comparing yourself to other people on the forum.

It's very rare for people to have amassed pension pots of the size owned by some people on this forum - there people are the exception rather than the norm.

Just concentrate on your own situation, and do the sums based on your own requirements in retirement.

If you earn £44000 now, it's not reasonable to think you'll need a post retirement income of £100k(at today's values)

I stopped comparing myself to others on here months ago, because I started to think I'd never retire early..... Until I remembered I actually DID, on a lot less money than some of the amounts that are bandied around. Plus I'm having a great time, and don't feel short of money.

If you are in a final salary scheme, you are laughing

xylophone

it's not reasonable to think you'll need a post retirement income of £100k(at today's values):eek:

The OP is in his fiftieth year and hoping to retire at 56 - I suppose he could always use the lump sum for that first year then live in penury....:)

https://forums.moneysavingexpert.com/discussion/comment/68916138#Comment_68916138

ajbell

Someone posted the government figures yesterday that suggested that 42% of people have no private pension arrangement.

atush

What everyone needs to live on is different. I live on small island where it costs me hundreds to get to the UK, even for a staycation. So i cant just get in the car and drive a few hours to a city, museum, national park etc. Plus everything incl petrol is more expensive here. I cant even get on a train or bus.

So, I'd need more just for the basics than others here.

What you need to do is find your Number, ie how much you will need to live on then find a way to get there. it can be good comparing ways to get there, but your number is individual to you so you dont compare pot size.

somethingcorporate

I agree, this just feels like bragging by the OP.

Does anyone really have anything better than a gold plated 2/3 final salary scheme plus another £100k in AVCs? Really?

PlymouthMaid

Not much point paying in at 1% for a year or so and then opting out as I wouldn't get the money back and fees would eat into it. There are very few jobs to apply for round here which would increase my pay. Once over 50 it seems very hard to get a new post.

Dird

atush wrote: »

What everyone needs to live on is different. I live on small island where it costs me hundreds to get to the UK, even for a staycation. So i cant just get in the car and drive a few hours to a city, museum, national park etc. Plus everything incl petrol is more expensive here. I cant even get on a train or bus.

You could always relocate Cyprus is a !!!! hole