34 and no pension

BoingBoing_2

I'd like some advice please, I'm 34, female and have no pension atm and earn peanuts (£5-8k). What sort of pension should I look for and what percentage of my income should I put into it each month?

Thanks

Liney_2

I am in the same boat as you, but I just don't trust pensions - but I realise its something everyone says I should start saving for. I had 2 x company pensions with small amounts sat in them but I now get letters saying they may not have enough money to pay me what I and the companies concerned put into them. As a result I don't trust pensions schemes anymore. Not sure where to go from here...

dunstonh

I'd like some advice please, I'm 34, female and have no pension atm and earn peanuts (£5-8k). What sort of pension should I look for and what percentage of my income should I put into it each month?

Probably not worth bothering to be honest. Not unless you have a spouse/partner. In which case it would be.

In 2012, the NPSS comes out which will kill off stakeholder pensions and force employers to pay into the scheme. You may be better off waiting for that and saving up in a cash ISA in the mean time (and maybe a stocks and shares ISA once you have a decent back up fund).

but I just don't trust pensions

In which case you better not trust savings accounts, ISAs, unit trusts, oeics, sicavs, shares, gilts or anything else to be honest.

Not sure where to go from here...

Stock up on the tin foil and brown paper bags

BoingBoing_2

Ouch, that's not nice to hear!

That reminds me, I've got about 3k in an old company pension somewhere which will pay me something silly when I retire but that's it. I also keep getting letters from NI saying I've a shortfall in my contributions and unless I pay up I won't get a state pension (but then again will there even be a state pension in 30 years time??????).

exil

Would be better paying off debts 1st if you have any money spare.

Will there be a state pension in 30 years time? Almost certainly.

cyclonebri1

dunstonh wrote: »

Probably not worth bothering to be honest. Not unless you have a spouse/partner. In which case it would be.

In 2012, the NPSS comes out which will kill off stakeholder pensions and force employers to pay into the scheme. You may be better off waiting for that and saving up in a cash ISA in the mean time (and maybe a stocks and shares ISA once you have a decent back up fund).


In which case you better not trust savings accounts, ISAs, unit trusts, oeics, sicavs, shares, gilts or anything else to be honest.



Stock up on the tin foil and brown paper bags

Wow, is there something going here that I've missed??