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Pension
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11-29-2007, 03:47 AM | #1 |
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Pension
Thinking about starting up a pension scheme. Anyone know what the basics are or what should be acceptable for a pension? i.e. some companies pay in for you and others dont is there any advantage of this or is this taken out of your tax etc?
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11-29-2007, 04:39 AM | #2 |
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I'm not sure I'm answering the right question, but here we go...
I would say that a company contribution of 5%, matched by the employee is a minimum these days. At my company the contribution is higher for higher placed staff, but it is being looked at with a view to changing to 10% company 5% employee, effectively giving them 15% overall. |
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11-29-2007, 05:52 AM | #3 |
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I not sure what i get, i think my employer matches what i put in. Not sure what %tay it is tho. Had one since i was 19?!
All that cash i could have had now
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11-29-2007, 05:56 AM | #4 |
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11-29-2007, 07:10 AM | #5 |
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ECBMW, Hi. The following links might be useful for you
www.adviceonline.co.uk/pendecisiontree.html www.thepensionservice.gov.uk/ www.pensionsadvisoryservice.org.uk/
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11-29-2007, 10:10 AM | #6 |
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Im not sure, i have one too. What shall i do with mine?
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11-29-2007, 11:47 AM | #7 |
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I'd keep it behind the sofa. I don't trust these so called 'banks'.
I mean what with all this 'identity theft' and all it's frightening. I mean .. what if someone actually stole your identity (like in the film trading places) moved into the fandango house, started doing you job sweeping the leaves of the railway lines and calling everyone something .. wah? |
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11-29-2007, 12:38 PM | #8 |
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I think I'm currently contributing 6.35% and employer is contributing 14% and I have the option to pay AVC's (which I am not doing at the moment, but might do in future).
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11-29-2007, 01:02 PM | #9 |
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I'm not going to dare and comment on mine....but civil service non contributory......option of buying added years to bugger off early, index linked, final salary and lump sum payment....I'll go away now.
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11-29-2007, 01:03 PM | #10 |
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Yes, mine final salary linked as well with lump sum.
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11-29-2007, 01:04 PM | #11 |
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Nice feeling isn't it Gordon
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11-29-2007, 01:07 PM | #12 |
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My plan is to try and retire around early-mid 50's and buy a property abroad. I'll spend half the year in the UK and the other half in the sun!
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11-29-2007, 01:15 PM | #13 |
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I want to retire ASAP. I dont know how tho..
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11-29-2007, 01:57 PM | #14 |
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Simple
Work hard Spend nothing. Fuck off to France.
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11-29-2007, 02:00 PM | #15 |
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I agree with the others, but not with the francwah thing.
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11-29-2007, 02:39 PM | #16 | |
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Not fair, not fair, not fair ! |
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11-29-2007, 02:46 PM | #17 |
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Terrible isn't it, the cross I have to bear Don't worry scotw this doesn't take into account the mundane day to day part of the job, potential boredom and enough political correctness to last a life time to which I have received a few bollockings about not being PC. Bet they wouldn't bollock me if I was non-white, gay & disabled
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11-29-2007, 03:21 PM | #18 | |
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I have learnt a lot about pensions over the last 12 months and am now investing differently as a result of the research. The thing to remember is a pension is just simply a tax wrapper just like an ISA. You can invest in just about anything, and get tax relief on yr contributions, good for HRT payers. The only drawback is that you can't access your money until you are 55, which I consider an advantage. |
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11-29-2007, 03:29 PM | #19 | |
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Enjoy them guys, I think sooner or later it will have to end, we can't afford them any more and at some point a government will tackle this, but not for you 55 oh for I'm told it will be 68! I put a fair bit away so I doubt that it will be for me, more like 60, but no way will I get as much as public sector do. It'll be interesting when we all retire, the public people will have a good bit more money that those that worked in the private |
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11-29-2007, 03:30 PM | #20 |
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Think you're right Pete, public workers should keep quiet! How come I am not allowed to have any private pensions in addition to the gov. one - that's not fair.
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11-29-2007, 03:35 PM | #21 | |
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11-29-2007, 03:42 PM | #22 |
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Yes you are BB. There is a max contribution limit which is the same as your salary. Pension 'A day' last year changed the rules.
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