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  • FIRST POST
    • Former MSE Andrea
    • By Former MSE Andrea 14th Sep 04, 2:56 PM
    • 9,418Posts
    • 22,339Thanks
    Former MSE Andrea
    Pension Planning Aaaagh or Ooooh?
    • #1
    • 14th Sep 04, 2:56 PM
    Pension Planning Aaaagh or Ooooh? 14th Sep 04 at 2:56 PM
    Poll Started 14 September. Pension Planning Aaaagh or Ooooh: Does the word pension automatically make you yawn? Or have you got it all buttoned up? This week’s poll aims to identify MoneySavers’ attitudes to saving for the future. To discuss this click reply.

    Aged Over 35 and have no pension provision (yet) !
    Aged Over 35 and pension is on target !
    Aged Over 35 and putting a little away !
    Aged Under 35 and have no pension provision (yet) !
    Aged Under 35 and pension is on target !
    Aged Under 35 and putting a little away !
    Don’t believe in pensions !
Page 1
    • lswwong
    • By lswwong 15th Sep 04, 2:57 AM
    • 406 Posts
    • 175 Thanks
    lswwong
    • #2
    • 15th Sep 04, 2:57 AM
    Re: Pension Planning Aaaagh or Ooooh?
    • #2
    • 15th Sep 04, 2:57 AM
    Oh gosh! Andrea's post has been up for 12 hours and not a single reply .... can we infer that interests in pension saving is scant??

    I am saving into a pension but don't know if I am putting enough away. Was going to ask Pal at the MSE London meet but don't think I will now .... ;D
  • trafalgar
    • #3
    • 15th Sep 04, 3:07 AM
    Re: Pension Planning Aaaagh or Ooooh?
    • #3
    • 15th Sep 04, 3:07 AM
    I've looked at it once already but to be honest the only reply I could put is......................makes me yawn
    So I was being polite and didn't want that to be the first ;D
  • scootermacc
    • #4
    • 16th Sep 04, 1:45 PM
    Re: Pension Planning Aaaagh or Ooooh?
    • #4
    • 16th Sep 04, 1:45 PM
    !
    Aged Under 35 and pension is on target !
    Can someone explain what 'on target' means?

    • lisyloo
    • By lisyloo 16th Sep 04, 1:50 PM
    • 25,523 Posts
    • 13,715 Thanks
    lisyloo
    • #5
    • 16th Sep 04, 1:50 PM
    Re: Pension Planning Aaaagh or Ooooh?
    • #5
    • 16th Sep 04, 1:50 PM
    "on target" means that it is going to produce an income that meets your personal target.

    A typical target might be 2/3rds salary at age 65, but the target can vary depending on things like your gender and personal goals.

    When you first consider a pension (or any other financial product) then your first question should be - what do I want to acheive?
    The solution should then reflect your target.
    This is better than just putting an arbitrary amount of money in without assesing what you want to get out of it.
    Of course there are always affordability constraints but it's the right place to start is - what do I want to get out?

    Unfortunately I think many people start from - what can I afford to put in.

    Providers now make it harder for you to ignore what you are going to get out by giving you a projection each year.
    I think there are rules about providing this now.
    • Former MSE Andrea
    • By Former MSE Andrea 22nd Sep 04, 8:05 PM
    • 9,418 Posts
    • 22,339 Thanks
    Former MSE Andrea
    • #6
    • 22nd Sep 04, 8:05 PM
    Re: Pension Planning Aaaagh or Ooooh?
    • #6
    • 22nd Sep 04, 8:05 PM
    Below are the results to the poll. Thanks to the 1729 people who took part.

    Poll Title: Poll Started 14 September. Pension Planning Aaaagh or Ooooh: Does the word pension automatically make you yawn? Or have you got it all buttoned up? This week’s poll aims to identify MoneySavers’ attitudes to saving for the future. To discuss this or view past poll results go to the Money Polls section in the Chat Forum.

    Aged Over 35 and putting a little away 22.4% (388 Votes)
    Aged Over 35 and pension is on target 21.8% (378 Votes)
    Aged Over 35 and have no pension provision (yet) 13.7% (238 Votes)
    Aged Under 35 and pension is on target 12.6% (219 Votes)
    Aged Under 35 and putting a little away 11.7% (204 Votes)
    Aged Under 35 and have no pension provision (yet) 11.5% (199 Votes)
    Don’t believe in pensions 5.8% (101 Votes)


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