Well not my pension pot, my yearly forecast I get every April is projected at 8k a year if I don’t take any lump sums. This is me adding both pensions togheter I come up with the figure 8k a year.
My first pension I was paying in 12% of my earnings on a final salary pension. Paid 12% for 9 years then got made redundant. This pension I have now I only pay 1% 
Roymondo:
I think there’s some confusion over terms used here - a “pension pot” is not the amount you can expect to receive each year in retirement. It means the amount you have actually saved (plus interest earned). What you do with it come retirement is up to you, one option being to buy an annuity which will give you an income for as long as you live. To get an £8k annual income from age 65, you’ll need a lot more than £8k in your “pension pot”…
And what you might get as an annuity may be a lot less than you think. I have just done an example quote on the Saga web site.
65 year old male with a wife aged 60, after tax free lump sum £100,000 left in pension pot to purchase annuity, lets assume wife to inherit 50% of pension on death of the man, pension to be indexed linked - according to this site you would get £2,418 per year. If you don’t want your wife to inherit the pension and you take a fixed rate for the rest of your life you would get nearer £5,000 per year. That is how crap annuities from pension pots are at the moment.
Go and have a play with the calculator if you don’t believe me.
saga.co.uk/money/annuity-service/calculator
it is pretty depressing stuff.
I’m not going to bother with an annuity for my SIPP@ 60 as said will take the 25% tax free lump sum and leave the rest invested but “drawdown” the heap over next 10ys and see round the world.
My “deferred to 60yrs” public sector pension will pay £80/£100k tax free commutation and £18k/yr (taxable) for rest of natural life.
Did somebody mention bad men go to “Phuket”!!![emoji39] [emoji12] [emoji7]
Big Truck:
I’m not going to bother with an annuity for my SIPP@ 60 as said will take the 25% tax free lump sum and leave the rest invested but “drawdown” the heap over next 10ys and see round the world.
My “deferred to 60yrs” public sector pension will pay £80/£100k tax free commutation and £18k/yr (taxable) for rest of natural life.Did somebody mention bad men go to “Phuket”!!![emoji39] [emoji12] [emoji7]
My public sector pension has been paying me £16k a year (index linked) since I reached age 50 - Already frittered away the £85k tax-free lump sum that I got at the same time 
Bluey Circles:
Roymondo:
I think there’s some confusion over terms used here - a “pension pot” is not the amount you can expect to receive each year in retirement. It means the amount you have actually saved (plus interest earned). What you do with it come retirement is up to you, one option being to buy an annuity which will give you an income for as long as you live. To get an £8k annual income from age 65, you’ll need a lot more than £8k in your “pension pot”…And what you might get as an annuity may be a lot less than you think. I have just done an example quote on the Saga web site.
65 year old male with a wife aged 60, after tax free lump sum £100,000 left in pension pot to purchase annuity, lets assume wife to inherit 50% of pension on death of the man, pension to be indexed linked - according to this site you would get £2,418 per year. If you don’t want your wife to inherit the pension and you take a fixed rate for the rest of your life you would get nearer £5,000 per year. That is how crap annuities from pension pots are at the moment.Go and have a play with the calculator if you don’t believe me.
saga.co.uk/money/annuity-service/calculator
it is pretty depressing stuff.
Your not legally bound to take out an annuity after the new pension regs in last yrs budget!!![emoji6]
Roymondo:
Big Truck:
I’m not going to bother with an annuity for my SIPP@ 60 as said will take the 25% tax free lump sum and leave the rest invested but “drawdown” the heap over next 10ys and see round the world.
My “deferred to 60yrs” public sector pension will pay £80/£100k tax free commutation and £18k/yr (taxable) for rest of natural life.Did somebody mention bad men go to “Phuket”!!![emoji39] [emoji12] [emoji7]
My public sector pension has been paying me £16k a year (index linked) since I reached age 50 - Already frittered away the £85k tax-free lump sum that I got at the same time
Did you go to Phuket!!![emoji56] [emoji41]
Well little update for those of you who “scoff”@ investing for retirement:
I have a certain percentage of my SIPP invested in “Lindsell Train Global Equity Fund” that invests primarily in “brand” companies.
Launched in 2011 it has grown a whopping 142.7percent,
Meaning a £10k investment via say an ISA wrapper is today2017 worth £24233 completely TAX FREE!!! 
I’m in that one.
And the UK equity one…which also ticks along nicely.
And it can go down as well as up…
Past performance is not a guide to future performance - this is not just an empty backside-covering warning, every fund will have good and bad times.
(Oh, and I’ve got some holdings in this fund too… )
Correction
IT WILL go down as well as up
ORC:
And it can go down as well as up…Past performance is not a guide to future performance - this is not just an empty backside-covering warning, every fund will have good and bad times.
(Oh, and I’ve got some holdings in this fund too…
Yes all people investing in funds need to be aware of this but over say a 10yr term,
Investment Trusts (especially via an ISA tax free wrapper) have VERY rarely been worth less!!!
Neil Woodfords “CF Equity Income Fund”
is flying high also!!![emoji6]
Might just cash in and put an artic on road to go O/D again!!![emoji28]
Sent from my SM-J500FN using Tapatalk
Big Truck:
Neil Woodfords “CF Equity Income Fund”
is flying high also!!![emoji6]
His old fund at invesco perpetual was the first fund I ever invested in.
Top man.
Big Truck:
Have mentioned them before on the forum:
Google “HargrevesLansdown” brokers.
They have £50BILLION entrusted to them as Investment Brokers so defo aren’t a fly by night dodgey outfit.
They have done well for me over the year if you pick a spread of funds over the globe.
Things are looking half respectable for me to have a long/happy retirement!!!Can’t wait to buy a 10yr old Jaguar F series convertible and hit the road,
you gotta have dreams!!![emoji56]
^^^^^^^^^^^^^^^^^^^^^^^
spot on there my man,so long as your dreams consist of sitting surrounded by the smell of damp leather googling jaguar electric faults,and waiting for the rac recovery van to come and lift you home again… 
…my pension plan consist on buying a lottery ticket each week…but ,it could be me.
You’d be better off buying premium bonds.
You get your money back,if you don’t win
I will be opting out, I already have a army pension and a flat I rent out.
Ah pension .One of the oldest Rothschild/government’s scams ever.Opt out
Invest your own cash .you die at least it is still yours .Its a no brainer .
dieseldog999:
Big Truck:
Have mentioned them before on the forum:
Google “HargrevesLansdown” brokers.
They have £50BILLION entrusted to them as Investment Brokers so defo aren’t a fly by night dodgey outfit.
They have done well for me over the year if you pick a spread of funds over the globe.
Things are looking half respectable for me to have a long/happy retirement!!!Can’t wait to buy a 10yr old Jaguar F series convertible and hit the road,
you gotta have dreams!!![emoji56]^^^^^^^^^^^^^^^^^^^^^^^
spot on there my man,so long as your dreams consist of sitting surrounded by the smell of damp leather googling jaguar electric faults,and waiting for the rac recovery van to come and lift you home again…
Are the “F-type” Jags that bad DD??
They have only been out a couple of yrs and I was drooling over Philip Coutinhos white one at Anfield there last Spring!!!
Cov:
Ah pension .One of the oldest Rothschild/government’s scams ever.Opt out
Invest your own cash .you die at least it is still yours .Its a no brainer .
That is bad advice to a sub aged 50s driver who works for a decent company that provides a pension that will match said drivers weekly contributions 50%+ or more!!!
Do not listen to “doomsday soothsayers” drivers on here who “bury head in sand” ref providing for retirement unless happy to live on £144wk state pension or work into 70s!!!
Take professional pension advice from an independent financial advisor who you can trust.
Cov:
Ah pension .One of the oldest Rothschild/government’s scams ever.Opt out
Invest your own cash .you die at least it is still yours .Its a no brainer .
So, if you live for a long time you get to watch your savings shrink? And when you die whats left is still yours? Well, are you planning on taking it with you? Good luck with that plan.
Cov:
Ah pension .One of the oldest Rothschild/government’s scams ever.Opt out
Invest your own cash .you die at least it is still yours .Its a no brainer .
But most company pension schemes are effectively giving you free money, via the employer contributions. During the six years I was in my previous employer’s scheme I contributed roughly £13k from my salary, yet my pension fund stands at £34k (which I am free to invest however I please). The current lot are not quite as generous - They only match my contributions £ for £, so my £1800 of contributions so far this year are worth “only” £3600 in my pension pot.