Well, the retirement age has been (or is about to be) abolished. I think you may be confusing retirement age with the state pension age (which is increasing). However, it's not impossible that many people will find it difficult to retire if pension returns don't improve. There is also likely to be a bit of time bomb created by people who are never able to buy a house. A lot of pension planning in this country seems to work on the assumption that you will have your own property and have paid of the mortgage by the time you retire. A lot of current pensions would barely be able to cover the sorts of private rents that exist all over the country.

I guess it comes down to whether you feel confident that the government will provide for you in old age or that you'll be able to provide for yourself. It's little wonder people don't like thinking about pensions, it's all so bloody depressing.

So set up a private plan.

I'd love to be able to think about my pension plans

Unfortunately, when being able to afford to rent a flat is an issue, a pension starts to look like an unlikely luxury.

Been there Rusty, that's why I started so late. Better late than never though, I suppose.

first pension statement came through, I have £720 saved so far (lol)

I keep meaning to transfer my pension from my last employer to my new employer.

Perhaps it's a consequence of my Dad being an accountant but I started paying into a pension through my employer when I was 22/23. It coincided with a pay rise at work so I basically didn't 'lose' any money as far as take home pay was concerned but I was paying in and getting the benefit of the employer contribution.

I did exactly the same and when I took this job one of the main factors was the good quality pension they offered (final salary) - yes I could have earnt a bit more somewhere else but the value of the pension more than made up for it

Same here, the final salary scheme is one of the main things keeping me here.

We have the final salary scheme for doctors, but it's working out to be too expensive so they're trying to axe it.

Have you investigated qrops I just got 20 grand back I looked at how much i would get back at 67 and it was 6gb +6gb +9 gb a month if i was still alive ......just a thought .

Like, totally.



+1

I'm making the most of the present at the expense of a TBC future. Everyone makes their own decision. Having worked in banking for 3 years, it was drummed into me. But I think there are wider socio-cultural discussions to be had and right now I'm busy enjoying myself on a tropical island. So, um, yeah....

I did as well, no doubt why I have developed the attitude I have TBH.

I am pretty sure that majority of people is intelligent enough to understand things like pensions when put some effort into it. And for those who are not or those who don't have time/can't be bothered there are financial advisers. You can pay them to do your work for you

Really? I'd never have guessed!