Workplace Pension

[stevewool]

I am considering pulling out of this new pension.

If my plans for the future happen, I will only be putting a set amount away for 14 months so what's the point? Yes the government will put into this, so I don't think its going to make me millions.

[Terpe]

I am considering pulling out of this new pension.

If my plans for the future happen, I will only be putting a set amount away for 14 months so what's the point? Yes the government will put into this, so I don't think its going to make me millions,

You've probably got this information already Steve, but just in case take a look here:-

If you want to leave your workplace pension scheme (https://www.gov.uk/workplace-pensions/if-you-want-to-leave-your-workplace-pension-scheme )

[Slip]

Every little helps though?

I have two frozen pensions worth next to nothing really. Just started the work place one. I pay 4% of my monthly earnings, work match it. Although I am 40 years of age, so still a few years left in me until I retire.

[andy222]

I was listening to the radio the other day and there was a pension advisor on there. He said a 25yr old would have to put £1000 per month in to get a decent retirement payout. :yikes:

[fred]

I was listening to the radio the other day and there was a pension advisor on there. He said a 25yr old would have to put £1000 per month in to get a decent retirement payout. :yikes:

It's probably true!

I could see this trend 15/20 years ago and that's why we took a huge risk and designed our own personal pension investment scheme... Pension plans in my era always looked like a bad idea to me with almost no guarantees of a final figure as a self employed person. :NoNo:

To this day, I have absolutely no idea how much to expect one day from the money I did pay into private and gov pensions..My guesstimate is peanuts probably.

[Terpe]

I was listening to the radio the other day and there was a pension advisor on there. He said a 25yr old would have to put £1000 per month in to get a decent retirement payout. :yikes:

If you're in an NHS pension scheme Andy you'll be fine :xxgrinning--00xx3:

[stevewool]

You've probably got this information already Steve, but just in case take a look here:-

If you want to leave your workplace pension scheme (https://www.gov.uk/workplace-pensions/if-you-want-to-leave-your-workplace-pension-scheme )

Thanks Peter

[stevewool]

I have two pensions plus the state pension at this moment. Not a fantastic amount but it will do fine over in the Phils, plus I also have the rental from my property too.

So I dont think I want to start another one, plus the company may only put up to 1% in. To me it's a no brainer.

At this moment in time, I feel the best way is to fill both our ISA deals up to the max.

[Michael Parnham]

I was listening to the radio the other day and there was a pension advisor on there. He said a 25yr old would have to put £1000 per month in to get a decent retirement payout. :yikes:

Most people don't earn that amount!

[Slip]

Most people don't earn that amount!

Once I pay my mortgage, buy food and pay bills, I am lucky to have half that amount for myself!

As the saying goes, rich getting richer, poor getting poorer.