balders 12:08 Wed Mar 2
pension
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Looks like most of us will have to work till were nearly 70
http://www.theguardian.com/money/2016/mar/01/state-pension-age-could-rise-faster-than-expected-say-experts
With so many city bods , financial experts (and H&P) what is the minimum you really need in your pension pot
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Replies - Newest Posts First ( Show In Chronological Order)
Sniper
8:05 Wed Mar 2
Re: pension
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Harold
My folks divorced and the house got repossessed when I was in my teens, so nothing coming my way
The finances of this country are so messed up though
As someone else pointed out, even if you do own a house it then has to be used to pay for your care. Yet those who contribute nothing/little get a free pension and still get care
Bizarre
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munkyfunk
7:38 Wed Mar 2
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Make sure parents never pay off mortgage.
If they need care state can't touch it as it's legally not yours.
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Sven Roeder
7:04 Wed Mar 2
Re: pension
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I always enjoy how seriously some people take comments on here.
And also being called young !
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tazman
7:01 Wed Mar 2
Re: pension
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Sven Roeder wote
Personally my pension plan is DEAD PARENTS & the National Lottery. Will be taking the amount I have in a personal pension out as a lump sum at 55 and SPENDING it.
you are typical young generation of today wont something for nothing,
if you was my son and said that to me i would fuck you off so you had not one penny.
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tazman
6:54 Wed Mar 2
Re: pension
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so i am retired and its my fault is it, what about half of you lazy bastards that
dont wont to work, and sit on your arse all day both young men and women
they are the ones that should be contributing, and even at sixty five i was
supporting half the bloody street, so please dont come crying how bad off you
will be, its not my fault its successive goverments.
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Sxboy_66
4:55 Wed Mar 2
Re: pension
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I blame the Health & Safety laws for more people living longer. Past generations had a steady cull of those who used their hairdryer in the bath, climbed rickety ladders while holding a chainsaw, etc.
That's without considering crumple zones, airbags, seat belts, cycle helmets, hi-vis clothing, catalytic converters, lead free paint, low tar cigarettes, smoke alarms, etc. It's all contributed to the aging population.
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DJH
4:50 Wed Mar 2
Re: pension
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Spandex I didn't I said my parents I said their generation (in their 70's now) and my observation is that being amongst their friends and family.
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Spandex Sidney
4:38 Wed Mar 2
Re: pension
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Yes DJH, you're right. Your parents and grandparents (6) are a much more statistically significant sample that the whole country (60,000,000).
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DJH
4:34 Wed Mar 2
Re: pension
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How are these live expectancy figures calculated?
Is it a simple average or is there over things considered otherwise could it be as much a factor that less are dying young than significantly more living well beyond the pension age that skew these figures against those from the past?
What I mean is that if less children or young adults die nowadays be it through illness or wars but the deaths of those in their 60's or 70's remained static the average life expectancy would surely rise?
I say this as from my experience I am not seeing my parents generations live to a significantly older age if at all to their parents so it made me question how these figures are calculated?
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overbyyer
4:23 Wed Mar 2
Re: pension
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Soylent Green is the answer
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BRANDED
4:19 Wed Mar 2
Re: pension
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Well. If you invested in something you could feasibly say you contributed to your pension? As opposed to people who save fuck all.
Its all about how much you want to spend and how much you want to save. YOu don't have to put in into any particular saving vehicle. You can chose.
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Spandex Sidney
4:18 Wed Mar 2
Re: pension
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The problems her have simply been caused by increased life expectancy. When Old age pension was first introduced just before WW1 only about 1000 people in the country qualified for me (over 70 then). Life expectancy for a man in the UK in 1901 was 45 (49 for women).
40 years ago the life expectancy for a man was about 64. Now, in 40 short years it's nearly 80. Doesn't mean these extra years are healthy years, just means that we can keep the body alive longer, while their house that took them 25 years to pay off will pay for this increased lifespan.
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overbyyer
4:14 Wed Mar 2
Re: pension
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I get my first of three deferred pensions out in June when I hit 50 - a piss-poor Electricity Board one that will give me a few grand lump sum and then about £20 a week until I croak. The other two aren't even worth that but I took them as they were non-contributory. Never opted into pensions thereafter and put all my spare cash into buying and renovating each home we've had.
How the fuck these advisers can recommend people should contribute twice a much into a pension pot from now on is beyond me.
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Spandex Sidney
4:10 Wed Mar 2
Re: pension
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For those of you expecting to inheriting a house, what if your parent(s) need care?
The house will pay for it, I see it each day. It's pretty bad when you see someone's disappointment that they will have their parents longer and no cash after expecting an inheritance for 30 years.
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1964
4:06 Wed Mar 2
Re: pension
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Sven Roeder 3:55 Wed Mar 2
Yep
It used to be 44 years contributions for a full stae pension but they gave you 5 years from 60-65 for free.
They changed it in 2010 to only 30 years contributions but now they are reverting to 35 years but at a higher top rate
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1964
4:04 Wed Mar 2
Re: pension
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..... immigrants?
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Steve P
3:58 Wed Mar 2
Re: pension
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I got my company pension and my state pension, coming at 65.
Times are harder now. You can thank the fucking yanks for that. And the banking system.
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Sven Roeder
3:55 Wed Mar 2
Re: pension
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I understood you had to have 30 years of NI contributions currently to be entitled to a full State pension.
But ..... if you have 30 years of NI credits (ie you have been unemployed) you are STILL entitled
Is that right ?
Personally my pension plan is DEAD PARENTS & the National Lottery. Will be taking the amount I have in a personal pension out as a lump sum at 55 and SPENDING it.
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Steve P
3:55 Wed Mar 2
Re: pension
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You should watch yourself Sold0
Sitting around doing fuck all kills, man
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harold
3:51 Wed Mar 2
Re: pension
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Sniper,
But just imagine the few 100k coming your way when they die and you sell the house (or prefer to rent it out for a grand or more per month!).
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Sniper
3:48 Wed Mar 2
Re: pension
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You know when you get the letter about it and it says something along the lines of 'based on your NI contributions your pension is....' Does that mean that the works by benefit stealing inbred son Jeremy Kyle get a letter saying 'based on your NI contributions you get the square root of fuck all'?
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