pensions???

[adele1985]

just woundering how many of you pay into a pension scheme

[sarah707]

I asked about a pension when I was divorced in my early 40s - I went to an independent consultant.

He said there was no way I could put enough money away (in the working years I have left) to make a viable income and advised me to save instead.

If you are younger and have disposable income then definitely go and see someone about it - old age and no money are not welcome prospects

[Bridey]

No. My nest egg is tied up in a house that will be larger than my needs once my lad has flown the nest and I stop childminding. As an ex estate agent I saw how house prices always rise in the long term and the bigger the property, the more money it rose by (its all by percentage). Having heard how some people have lost their pensions entirely in the last 15 years I'm happy doing it this way and saving any extra I have in an ISA.

The plan is to find a little tiny cottage by the sea and live there with cats and dogs like the batty old lady I am!

I know things are different these days. Its hard to get on the property ladder and mortgages are difficult to get so I would seek financial advice to find the best path for your future.

[~Grasshopper~]

i have a good civil service pension and once my children are both a school i intend going back to work so will restart it.

i would go and see an advisor tho, my dp has a private pensions advisor who moves it around so he gets the best deal. dp pays about £50 a month but has been paying into it for years already x

[AliceK]

No, I don't and I'm one of the old uns too so no point now. Plus I don't even own my own house so I'll be destitute and living in a box when I'm old

xxxx

[ziggy]

I'll be in the box next to Alice or still working till i die

[jumping j]

I was told that there was no point, pensions aren't really paying out much in the way of interest so I set up an ISA and put whatever I've got spare, minimum £100 a way a month.
It's there for an emergency rainy day but hopefully I wont need to touch it til I'm REALLY REALLY old
I've also got a teachers pension sat in an account somewhere, not much in it but it's there

[AliceK]

I'll be in the box next to Alice or still working till i die

Don't worry, we'll pick a spot for our boxes with a nice view

xxx

[adele1985]

im 28 this year but cant save for toffee

i need something that will take so much out of my account each week/month and not let me touch it

im soposed to be saving 20 a week for christmas but i just see so many nice things i want to buy for childminding so i always end up spending it before i have chance to put it in savings

i dont own a house either so i think ill be joining u two

[AliceK]

im 28 this year but cant save for toffee

i need something that will take so much out of my account each week/month and not let me touch it

im soposed to be saving 20 a week for christmas but i just see so many nice things i want to buy for childminding so i always end up spending it before i have chance to put it in savings

i dont own a house either so i think ill be joining u two

You'll be welcome to join us lol
Xxxx

[jumping j]

I set up a minimum amount standing order straight into my ISA, it's a pain to get anything out of it, it takes up to 10 working days to transfer money back into my account, I've set it up so I can increase the amount put in and it goes out the day after I get paid so I never really see the money.
I'm useless at saving too and love buying new thing for the lo's to play with so this is working for me at the moment

[SJ35]

i started a private pension when i was 18 , i'm now 34. I'm glad i started it when i did, i start getting it at 55 years old. If i hadn't have already started one i think i would pay into an ISA from now on.

Stacey

[loocyloo]

i have a pension, been doing it for the past 14 years ( i think ) think i started it when i came back from overseas!

not sure if its worth it for me, or if i should put the money into an ISA instead. probably need to talk to someone about it.

[sweets]

apologies if this posts twice as laptop went funny halfway and i had to retype!


i started a pension in my early 20's , the amount went up each year but according to the annual statements i received from them the retirement amount went down and i started to really begrudge paying into it.

i rang my mortgage company and asked them if i could overpay and they said if i paid them £100 a month more it would take my mortgage down from 18 years to pay to 11 so i now do this instead of the pension.

i also save a bit into an isa when i can for pension and rainy days.

[clairelou]

For some it could be worth talking to a IFA, I did and he told me that if I pay into a pension while on tax credits the money put into pensions does not count as income.
For us this means our tax credits go up considerably therefore tax credits are paying my pension at the moment, if things change we will review it again.

[watgem]

I have never earned enough to be able to pay into a pension scheme, and now am in my late 40's, my dad is 70 and still has to work full time to survive so am thinking this will probably be me in 30 years time, although I'm not sure I will still be capable of childminding then.

[Donkey]

For some it could be worth talking to a IFA, I did and he told me that if I pay into a pension while on tax credits the money put into pensions does not count as income.
For us this means our tax credits go up considerably therefore tax credits are paying my pension at the moment, if things change we will review it again.

This is really really interesting

[nikki thomson]

No but I'm very lucky as my husband will have a substantial army pension when he leaves in 2 years after 24yrs service and then he'll get a full pension at age 60 (was 55 until they changed it recently) grrrr, so hopefully I won't need to work when he leaves in a couple of years. X

[clareelizabeth1]

My plan is to win the lottery. If 5 years I've won £70 so don't think I will be living in paradise when I'm old hopefully my LO will invent something good and see I live in luxury. If neither happens well I will be poor as although I do save the rate things go up I don't know if it will be good enought