Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Page 1
  • temporary1
    • #2
    • 30th Nov 12, 8:59 PM
    Savings - what are those then?
    • #2
    • 30th Nov 12, 8:59 PM
    People used to save to fund their retirement and future 'rainy days'.
    What a waste of time when the government/BoE has totally screwed up society's beneficial relationship between banks and savers. Pensioners eroded savings are going to be the biggest financial burden on all future governments, now that people see buying property as a more profitable way to screw up the country's housing stock and future generation's habitation prospects.
    Keep eroding savings with inflation and the cost of living, and it's not rocket science to see that the pensions/savings shortfall's going to be massive. Make personal saving pay again or the social cost is going to get even bigger than it was going to be already.
    Last edited by temporary1; 30-11-2012 at 9:04 PM.
    • Butterfly Brain
    • By Butterfly Brain 1st Dec 12, 9:28 AM
    • 8,736 Posts
    • 61,001 Thanks
    Butterfly Brain
    • #3
    • 1st Dec 12, 9:28 AM
    • #3
    • 1st Dec 12, 9:28 AM
    No use saving when you don't earn any interest. The money men and government have been stealing from our pensions for years, we have lost thousands of pounds from ours because the insurance company changed the goalposts from with profit to without profit, so basically even though we have been saving and paying into a pension fund, they are now more or less worthless.
    What about the poor devils who have only scraped by with low wages? How are they supposed to save when they are already living on a knife edge.
    Blessed are the cracked for they are the ones that let in the light
    C.R.A.P R.O.L.L.Z. Member #35 Butterfly Brain + OH - Foraging Fixers
    Not Buying it 2015!
    • Arthurian
    • By Arthurian 1st Dec 12, 10:43 AM
    • 678 Posts
    • 630 Thanks
    • #4
    • 1st Dec 12, 10:43 AM
    • #4
    • 1st Dec 12, 10:43 AM
    "The report says one in four people aged 50 to 64 would need to save more than 60,000 before they retire to achieve the income they expect..."

    Does it mean 60,000 more than they already have saved? I don't understand how 60,000 could be enough.
    • dawyldthing
    • By dawyldthing 2nd Dec 12, 5:45 PM
    • 3,379 Posts
    • 3,335 Thanks
    • #5
    • 2nd Dec 12, 5:45 PM
    • #5
    • 2nd Dec 12, 5:45 PM
    I remember a number of years ago having a conversation with someone about pensions, and I recogn in 20 years time there will be no pensions for anyone.

    We are struggling at the moment. By the time you add up the most you can get from a pension (107.45), say if they rent they can get upto 250 pounds, so say 125 for their accomodation, council tax at about 20 that takes it to 252.45, which is a lot more than you get on a 40 hours minimum wage job after tax (214.34) and we have 11 million OAPs as of 2006 so I should imagine it is more now. Sure not all get a government pensions, but everything adds up. Thats before opticians, dentistry, perscriptions, bus passes, winter fuel payments, care costs and others are all taken into consideration.

    Don't get me wrong, I don't begrudge anyone of it, but personally I think it should be applicable to anyone who fought for us upto the second world war and then after that some other things to change. As I really don't think what we are doing at the moment is sustainable
    to the lil one
  • Dunroamin
    • #6
    • 2nd Dec 12, 10:23 PM
    • #6
    • 2nd Dec 12, 10:23 PM
    . By the time you add up the most you can get from a pension (107.45),
    Originally posted by dawyldthing
    Lots of people get far more than this for their state pension when you include SERPS and S2P.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,637Posts Today

8,522Users online

Martin's Twitter