whats your pension plan?

[branno]

well under the present tory government, id start saving a minimum of a hundred pounds a week for the next 29 yrs as ur only 41....and id hide it under ur pillow

[Englishman2010]

well under the present tory government, id start saving a minimum of a hundred pounds a week for the next 29 yrs as ur only 41....and id hide it under ur pillow

The biggest pension robber of the last few decades was Gordon Brown. In his first budget as Labour Chancellor he took away the tax free growth status of Pension funds. One of the main benefits of investing in Pensions had been the tax free growth status of the funds. The profits the funds made on increases in equity values, and reinvestment of dividends meant that Pension funds grew approx 33% more than regular investment/insurance funds which had their profits taxed at approx 33%.

This helped to widen the huge blackhole that Final Salary schemes reported a few years ago, and ultimately means that anyone with a Money Purchase Pension scheme has to invest far more money into it to get a decent return.