pension advice

Dithering_Dad

dunstonh wrote: »

Yes. Although goodness knows why they will want to throw away 3% free money.

I believe the Govt is hoping for over 70% take up. The insurance companies are hoping that better investment options and higher tax relief will see an increasing number of companies use them instead of the NPSS.

I worked with someone who threw away 10% free money. He didn't want to part with the 3% he had to contribute "because pensions are rip offs and you'll just lose all of the money anyway". This same chap had paid off his two bed terrace house and refused to move (even though he subsequently got married, had two kids and the house was bursting at the seams) because he didn't want a mortgage. Finally he also had his life savings of £10k in his current account "because it makes me feel good when I see it".

There's just no accounting for some people!

p.s. he was on £40k a year so he was throwing away 4k of his pay :rolleyes: