Do you have a pension plan?

[Newton's Ring]

Seeing as the Beeb are saying that half of UK adults have no pension plan I thought I'd start a poll.

I do but my wife doesn't...(looks like they're right ) anyone else?

BBC NEWS | Business | Half of UK 'have no pension pot'

[edit] D'oh, I was half way through adding a poll and I ran out of time. Another pointless thread started by me.

 

[eviljohn2]

I'm 26 and started one early in 2008. Evilfiancee2 started one last month.

I can't think of a good reason not to try and provide for our retirements - plus they pay out in the event of our early death so it's hardly money down the drain either way.

 

[domtheone]

Started one about 18 years ago (when I was 18) but then put it on hold after a few years.

Recently had a IFA doing the rounds at work and he's going to contact Barclays for me to ressurect my old pension and see what the score is.

May well set up a new one as there are some useful benefits (Salary Sacrifice being one) to them although i'm still weary about pensions as a whole.

 

[Sporran]

ive been paying in since i was 18, now 34.

 

[Desmo]

I've had one going for quite a few years. Not sure I put enough in to it at the moment but it's better than nothing.

 

[eL-ZilCHo!]

Yep, certainly do.

 

[Codehead]

I'm in the military, so I automatically have one. I would never have set one up myself (was too busy drinking and spending in my youth).
Two years to go till it starts, and the numbers are looking pretty good.

Interestingly (this may have changed by now), you couldn't set up a private pension if you had a military one. A guy I worked with in my early career was paying into a private pension that he'd set up before he joined up. He had a real battle to get the money back as it was an 'illegal' fund.

 

[Newton's Ring]

Thanks for the replies so far. I've had another crack at the poll and moved it to here.

Mods - please could we close this one?

 

[Jules]

I've been fortunate enough to have had a company pension since the age of 20 (now 37).

I have to admit that if my first company pension wasn't non-contributary (i.e. free), not sure I would have bothered with one at the time.
However I'm older and wiser now and look back and recognise how lucky I was.

I'm now on a partial contributary scheme and happy to pay what I do.
If the company didn't pay half into it I'd still pay that other half myself.

It's pretty scary to think how you might be living your senior years without a decent pension fund behind you.

Of course the opposite view is that you find rich wife and 'grease the stairs' for her. And when you think about it, it makes sense... after all having a nice ponsion might lead to your own 'greasy stairs' incident courtesy of your forward thinking wife.

 

[Newton's Ring]

Of course the opposite view is that you find rich wife and 'grease the stairs' for her. And when you think about it, it makes sense... after all having a nice ponsion might lead to your own 'greasy stairs' incident courtesy of your forward thinking wife.

 

[HMHB]

I don't have any pension plan or savings so will just shoot myself when I get to retirement age.

 

[Shady]

Can somebody explain how these work to a numpty like me.

If I retire at 55 and my private pension states a retirement age of 55, does this start paying out and do I still get my state pension at 65 (or whatever age it is then ) ?

If I also have a company scheme will that also start paying out when I retire (early or otherwise) ?

I an sure I should be getting cash in from three sources, but never had this clarified.

Also, is there an easy calculation or website where you can put in what monthly income you want - and how much your pension pot needs to be worth now ?

Cheers

 

[Abbeygoo]

If I retire at 55 and my private pension states a retirement age of 55, does this start paying out and do I still get my state pension at 65 (or whatever age it is then ) ?

Yes it will start paying at 55 and you will still get the state pension at 65

If I also have a company scheme will that also start paying out when I retire (early or otherwise) ?

Yes

I an sure I should be getting cash in from three sources, but never had this clarified.

Also, is there an easy calculation or website where you can put in what monthly income you want - and how much your pension pot needs to be worth now ?

Not sure

Cheers

Hope this helps