peirre:
…It’s auto enrol, the employee has the right to ask to opt out…
Only AFTER they’ve been enrolled and deductions have already started.
madmackem:
I will be opting out of any company pension. I’m already in receipt of a military pension…
Same here (and contrary to popular belief, Military pensions ARE contributory, just for anyone who thinks they are a free hand-out).
Just been re-enrolled into Nest a few days ago. Pings up in February every other year. Am getting fed up with the rigmarole of having to set up an on-line account, then having to wait 4 working days to opt out, then wait a few weeks for the return of last week’s deductions, and next week’s, and possibly the following week’s, which haven’t even been earned yet.
Juddian:
Jesus wept, i didn’t need a lecture from the Nu Lab rep on the forum.
I couldn’t give a flying f whether my house goes up or down in value, unless i sell up completely and go live in a tent its irrelevant.
To re-iterate for those hard of hearing, if you buy and live in a larger house than you need or one set in position or grounds that can be extended or sold for further building…as the hordes of incoming migrants will have to live somewhere for free subsidised by us so building regs etc will increasingly go out the window except in the Chipping Norton, Islington and equivalent belts where there is a dearth of asylum seeker centres for some reason …then when you come to retire that large house can be sold and a smaller more manageable house suitable for you as working class pensioner can be bought and you have the difference in prices as an additional income.
Sod me its like drawing teeth round here sometimes.
Yes i know house prices can go up and down , i’ve owned a house since 1975/6 so have lived through few booms and busts under the ‘‘leadership’’ of both worthless mainstream parties and the bunch of weirdos led by Cleggy who aided and abetted the tories last time.
But whether the current price is twice what it should be or half what it should it will still be worth twice what the equivalent house worth, surprisingly, half as much at the same point, will be, comprende?
House prices are artificially too high anyway, in no small way thanks to at least 5 million more people living here than should be.
Also the interests of my children and grandchildren in this country have been squandered and given away by successive traitors elected by fools over the last 40 years, and millions of good men and women who died to prevent exactly this can be heard stirring in their graves because of it.
Juddian, I’ve had this same jeffing argument with people. Them: ‘Oooh, look how much your place has risen in price, you could sell it and make a load of money.’ me: ‘But what about if I don’t want a smaller place or to live out in the sticks, all these places go up and down at the same rate.’ Them: ‘Yeah well, I just thought.’ Me, thinking: Bleedin’ wazzock. We’ve owned our houses the same time as you and have just floated along. You do have a different situation over there as far as all the “immigrants” wanting housing are concerned, we have the “immigrant” problem to a lesser extent where we live but we do have the real estate vultures, developers and mainly Chinese buyers to thank for rising prices.
Big Truck:
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.
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!!!
…nah…im only pulling your chain…everything built nowadays is an electronic bag of dung…theres no need for anything more electronic than a smiley transit,and a 1998 golf turbodiesel…at least if jaguars are now still being built in the midlands,its not as if its brits thats building them nowadays…
nickb67:
Same here (and contrary to popular belief, Military pensions ARE contributory, just for anyone who thinks they are a free hand-out).
Yes, you make contributions BUT the amount that you contribute is nowhere near. what you would actually need to save in order to provide an equivalent level of benefits in the real world. From that viewpoint then yes, they are (largely) a free hand-out - just like most other public sector pension schemes. And I write as a member of just such a scheme (which currently pays me a very nice index-linked sum every month).
If you rely on a pension to fund your twylight years ,Then you made bad choices early in life.call my advice what you like .My choice
Is to opt out and earn my own pension.it is far from bad advice.just because subserviant people rely on
What the masses do does not mean it is right .most new pensions are gash.your companies pay 50% you pay 50% .You must live long enough to collect it.the rules are crap .you die its gone.
Hows that good?
You cant argue with stupid .and sadly there appears to be plenty of stupids on here.
Cov:
If you rely on a pension to fund your twylight years ,Then you made bad choices early in life.call my advice what you like .My choice
Is to opt out and earn my own pension.it is far from bad advice.just because subserviant people rely on
What the masses do does not mean it is right .most new pensions are gash.your companies pay 50% you pay 50% .You must live long enough to collect it.the rules are crap .you die its gone.
Hows that good?
You cant argue with stupid .and sadly there appears to be plenty of stupids on here.
But as I said - by opting-in to my previous employer’s scheme, I have more than trebled my money in six years (and the resulting cash is mine to invest in whatever way I wish) with as near as ■■■■ it no risk. Indeed you cannot argue with stupid…
Unless you’re in a final salary or other defined benefit scheme, your pension fund will be in a ‘pot’ (sometimes called ‘money purchase’ or ‘defined contribution’).
Since 2015 anyone with a ‘pot’ based pension has a right to access the pot at any time after age 55, as much or as little as you want. 25% of what you take out is tax-free, the rest is taxed through PAYE at your marginal rate (so be careful if you take a lot out, as this will likely push you into the higher tax bracket).
If you die, the pot is payable to your beneficiaries.
The rules aren’t really that crap. If your company is matching your contributions then you’ve already made 100% before you even start investing it. And if you cannot make it to 55? Well, in that case you’ve probably got more serious issues in your life that wondering whether or not to save for a pension will pale into insignificance.
The alternative route of going it alone and not putting any money in a pension means a) no employer contributions, and b) no tax relief on your contributions. However, you are taxed on 75% of it when you take it out, so the tax relief is more of a tax deferral mechanism (apart from the 25% tax-free cash…that is a genuine tax break that the pension route provides over the non-pension investment option).
Okay, I’ll take the challenge - you can argue with stupid…
However, Mark Twain is credited as having once said ‘never argue with stupid people, they will drag you down to their level and then beat you with experience.’
Cov:
If you rely on a pension to fund your twylight years ,Then you made bad choices early in life.call my advice what you like .My choice
Is to opt out and earn my own pension.it is far from bad advice.just because subserviant people rely on
What the masses do does not mean it is right .most new pensions are gash.your companies pay 50% you pay 50% .You must live long enough to collect it.the rules are crap .you die its gone.
Hows that good?
You cant argue with stupid .and sadly there appears to be plenty of stupids on here.
Enlighten us then,
those of us who are investing hard earned wages to provide for a comfortable retirement:
What are you doing??
Money on the horses?
£50month on lottery?
Get rich quick schemes?
Or the usual:
“I’ll be dead before I’m 65 so don’t need pension”!!![emoji52]
My theory is they’re increasing the pension age so it overtakes the death age or actually doing a bit of both. He’s my theory. Stick with it.
They’re trying to bring down the age of death as it’s cheaper on the social system. They’re doing this using the old “stress a rat” method.
unchecked capitalism demanding more stress, for longer hours, for worse money and the government are sticking their foot on our necks by making living life quite frankly a bloody chore by frightening everyone so stupid that having a glass of wine will kill you/ being alone will kill you/ having a diesel car will kill you/ not eating 2 tonnes of fruits a day will kill you/ don’t do this/don’t do that…
All the nagging rules and stress of life actually, kills us.
This’ll bring the age of death down to 70 - everyone so worn out from work and stressed by bloody life they’re glad to get a rest and their bodies give up. The pension retirement age will be 75, the social system will be wealthy with all on earners popping off nice and early.
We die, everyone younger or up the global capitalist tree chasing money, richer, unstressed, still alive and sitting like fat prunes from too much steak and red wine in the sun.
Freight Dog:
My theory is they’re increasing the pension age so it overtakes the death age or actually doing a bit of both. He’s my theory. Stick with it.
They’re trying to bring down the age of death as it’s cheaper on the social system. They’re doing this using the old “stress a rat” method.
unchecked capitalism demanding more stress, for longer hours, for worse money and the government are sticking their foot on our necks by making living life quite frankly a bloody chore by frightening everyone so stupid that having a glass of wine will kill you/ being alone will kill you/ having a diesel car will kill you/ not eating 2 tonnes of fruits a day will kill you/ don’t do this/don’t do that…
All the nagging rules and stress of life actually, kills us.
This’ll bring the age of death down to 70 - everyone so worn out from work and stressed by bloody life they’re glad to get a rest and their bodies give up. The pension retirement age will be 75, the social system will be wealthy with all on earners popping off nice and early.
We die, everyone younger or up the global capitalist tree chasing money, richer, unstressed, still alive and sitting like fat prunes from too much steak and red wine in the sun.
The stats are opposite to that theory!!!
Life expectancy is going up every 10yrs hence the fact Gov has to reckon on paying a state pension for longer to millions who haven’t “kicked the bucket”.
Also the reason why actual state pension age keeps going up,
We just can’t afford it and one of the main reasons why I invest for retirement.[emoji6]
I hopefully don’t want to still be working come 65yrs of age and fingers crossed will be PT working (or even less!!!) the day I turn 60yrs in 8yrs time.[emoji41]
Freight Dog:
My theory is they’re increasing the pension age so it overtakes the death age or actually doing a bit of both. He’s my theory. Stick with it.
They’re trying to bring down the age of death as it’s cheaper on the social system. They’re doing this using the old “stress a rat” method.
unchecked capitalism demanding more stress, for longer hours, for worse money and the government are sticking their foot on our necks by making living life quite frankly a bloody chore by frightening everyone so stupid that having a glass of wine will kill you/ being alone will kill you/ having a diesel car will kill you/ not eating 2 tonnes of fruits a day will kill you/ don’t do this/don’t do that…
All the nagging rules and stress of life actually, kills us.
This’ll bring the age of death down to 70 - everyone so worn out from work and stressed by bloody life they’re glad to get a rest and their bodies give up. The pension retirement age will be 75, the social system will be wealthy with all on earners popping off nice and early.
We die, everyone younger or up the global capitalist tree chasing money, richer, unstressed, still alive and sitting like fat prunes from too much steak and red wine in the sun.
The stats are opposite to that theory!!!
Life expectancy is going up every 10yrs hence the fact Gov has to reckon on paying a state pension for longer to millions who haven’t “kicked the bucket”.
Also the reason why actual state pension age keeps going up,
We just can’t afford it and one of the main reasons why I invest for retirement.[emoji6]
I hopefully don’t want to still be working come 65yrs of age and fingers crossed will be PT working (or even less!!!) the day I turn 60yrs in 8yrs time.[emoji41]
Sent from my SM-J500FN using Tapatalk
The stats are opposite because there is a 30-70 year lag . The current stats are from the current lot who are pretty much the only generation who’ll get to enjoy retirement and didn’t have a life of abject finger wagging and rules, limited exposure to the modern way. The litmus test will be in 80 years
Don’t discount my theory just because it maybe balls
Joking aside, no I don’t think the government are trying to pop us off early but it is true we’re heading back to no retirement. That was a blip enjoyed by 1/2 generations anyway. No one before really retired and in the future it is unlikely. There was a good program on radio 4 about it.
Freight Dog:
The stats are opposite because there is a 30-70 year lag . The current stats are from the current lot who are pretty much the only generation who’ll get to enjoy retirement and didn’t have a life of abject finger wagging and rules, limited exposure to the modern way. The litmus test will be in 80 years
Don’t discount my theory just because it maybe balls
Joking aside, no I don’t think the government are trying to pop us off early but it is true we’re heading back to no retirement. That was a blip enjoyed by 1/2 generations anyway. No one before really retired and in the future it is unlikely. There was a good program on radio 4 about it.
I get a lot of what you say.
End of WW2, introduction of the NHS in 1948, National Insurance schemes in 1946 and 1948, many started work at 16yrs, worked until 65, and popped off at 70-ish. Those in work, especially with an increasing population, could support them. Now we have education until 20yrs or so, work until 65 or now maybe 70? Follow that with, not 5, but 25 years of life, and some of that in expensive “care facilities” the current model cannot work. And any government, of any colour party, that promises we will pay less tax but keep equal or better pensions or health care etc are nowt but liars, or fools, or take us for fools. Putting health or pensions into private hands is, I believe abrogating their responsibilities. As someone who has paid my taxes, and National Insurance I made a deal to support those older than me, approaching retirement I should get the same in return.
Now, living in the real world, I saw the writing on the wall and have been investing in pensions for a few years now, so hope to be OK. But what of the future, young families to-day cant afford to buy a home, so how can they save for a pension or private health? The free market has got us this far, but can it find a better future for us? Ive got my doubts. Seems to me free market/globilisation/capitalism has had it`s uses but is getting to be more of a liability than an asset.
When I was younger I thought pensions other than the state pension were pointless. Even after coming here in 2000 I still refused the ‘401K’ which is a form of pension offered by employers. Now I am older I have changed my mind. All pensions are worth it. During my first marriage I was talked into starting one by the man from the Pru, I paid 34 quid in and stopped because I thought it was crap. Working for Federal express in Rugby for 6 years they paid into a pension for me, I never contributed a penny. After starting for Foodliner over here I found the 401K was compulsory and they matched my weekly contribution. Living here I decided to see if I could somehow get my money back from the now defunked English pensions ?
The Prudential one with just 34 quid in had become 2,500 quid and was sent to me. The Federal Express pension funds were transferred to me and I received $27,000.00 after never paying a cent in. My 401K is in it’s 10th year and has already paid for 3 trips to the UK including everything from plane tickets, car rental and cottage for 4 and because I increase the payment to refill it I will still have more than enough to pay off my mortgage when I retire, even with yet another trip to the UK before then.
Don’t turn down a pension, they are all very worth it. I should point out that I still have my UK state pension when I retire
…then when you come to retire that large house can be sold and a smaller more manageable house suitable for you as working class pensioner can be bought and you have the difference in prices as an additional income.
…my pension plan consist on buying a lottery ticket each week…but ,it could be me. 
. The current stats are from the current lot who are pretty much the only generation who’ll get to enjoy retirement and didn’t have a life of abject finger wagging and rules, limited exposure to the modern way. The litmus test will be in 80 years