pensions

[Andy]

My life plan...

Keep working... don't retire.... then snuff it. 

best plan ever

[Eddie-NL]

My life plan...

Keep working... don't retire.... then snuff it. 

best plan ever

don't laugh too much that will be government policy in ten years

[Hurdy]

I'm with Karma pensions.

What ever I put in, I get back 3 fold 

Seriously though, the company I work for has been taken over many times and the pension changes more often than not. When I started work I was on a final salary pension, then a "Care plan" policy then another and another etc.

Now, imagine putting an order in for a brand new MKXXXX Golf GTI and being told you would have to pay monthly for it BEFORE it arrived, you agreed the car would be fully specced with all the options ticked and you duly read and signed the contract. You started paying for it and then a representative came along and said "I'm sorry sir but the cost of your car has gone up due to the market forces". You choke and agree to pay more in the hope of that glorious MKXXXX Golf GTI being delivered. Later the representative comes back and says "I'm sorry sir but the delivery time has been extended and you'll have to wait longer". You choke again and bite the bullet and agree to wait longer. Shortly after a representative comes to you and says " I'm sorry to be the bearer of bad news again sir, but due to market forces the car has had to have the options removed and you will only receive a basic MKXXXX Golf GTI AND it will still cost you a little more to have it". Vomit inducing forces act on your body, but you fight them back and just think of the day you can sit in that brand new MKXXXX Golf GTI and enjoy it to the full, so you duly agree to carry on waiting. Then the week before you are due to accept delivery and have paid all your money in a representative arrives and tells you " I'm sorry to be the bearer of bad news, but due to unforseen circumstances the car you will now receive will be a remote control scale model, you will have to pay extra for the engine to go in it and the batteries will run out after the first week and there are no replacements. The good news is the government can supply you with batteries at a monthly cost that will make it impossible for you to continue living for too long!!


The End.

Draw the similarities where you will, but they are there.

[garrardrj]

under current rules, no you can't beat it. but it was changed once during my time at uni, and now it's been changed twice since i graduated in 2010. i've got a minimum of 40 years of service to the NHS left before i'll retire with a full pension, which is also likely to increase to 45 years by the time i get there. for me, it's not worth it in the long run. every time there's a dip in the economy, we'll get shafted, but when it picks up again the rules won't change to benefit us. much rather put my money aside into something that's more definite. markets can collapse, demographics can change, pension companies can go bust. but bricks and mortar will always be worth something, and in the long term will always be a good investment on our overcrowded little island. 

Ah yes i see why now , you are young ! ......I get my pension next July 

[sub39h]

under current rules, no you can't beat it. but it was changed once during my time at uni, and now it's been changed twice since i graduated in 2010. i've got a minimum of 40 years of service to the NHS left before i'll retire with a full pension, which is also likely to increase to 45 years by the time i get there. for me, it's not worth it in the long run. every time there's a dip in the economy, we'll get shafted, but when it picks up again the rules won't change to benefit us. much rather put my money aside into something that's more definite. markets can collapse, demographics can change, pension companies can go bust. but bricks and mortar will always be worth something, and in the long term will always be a good investment on our overcrowded little island. 

Ah yes i see why now , you are young ! ......I get my pension next July 

don't worry, my knees and memory are going already  . and i have white hairs coming through!

[dodds-gttdi]

under current rules, no you can't beat it. but it was changed once during my time at uni, and now it's been changed twice since i graduated in 2010. i've got a minimum of 40 years of service to the NHS left before i'll retire with a full pension, which is also likely to increase to 45 years by the time i get there. for me, it's not worth it in the long run. every time there's a dip in the economy, we'll get shafted, but when it picks up again the rules won't change to benefit us. much rather put my money aside into something that's more definite. markets can collapse, demographics can change, pension companies can go bust. but bricks and mortar will always be worth something, and in the long term will always be a good investment on our overcrowded little island. 

Ah yes i see why now , you are young ! ......I get my pension next July 

  Classic!

[neg]

If a company pay a % then your stupid not to match it - I did this for a years and has given me a good start.

Things change though, its been approx. 5 years since I last paid into my pension (since leaving the above company) but in that time I decided to setup my own business, extended my house and had a family ... you take your gambles, I say don't pay too much that you cant enjoy life now, give and take.