Idle Banter For non SV and non bike related chat (and the odd bit of humour - but if any post isn't suitable it'll get deleted real quick).![]() |
![]() |
|
Thread Tools |
![]() |
#11 |
Guest
Posts: n/a
|
![]()
I'm 24, without a lottery win I wont retire.
Thats just the reality of it, it sucks. |
![]() |
![]() |
#12 |
Member
Mega Poster
Join Date: Feb 2008
Location: The Saaarrrfff
Posts: 2,908
|
![]()
I'm in a hybrid pension scheme, up to 28k final salary and the rest on a money purchase, I save about 5% and the company puts in a further 14% so that's isn't too bad. Not sure about retiring early, I think I'd get bored.
But I am now an MCC associate member I only have another 12 years on the waiting list before full membership. That means I can sit in front of the Pavilion at Lord's with all the other old codgers watching the cricket in a horrid blazer before falling asleep with my mouth open and drooling. Lord's is often like a nursing home, but with better bars and entertainment. So that's my retirement sorted.
__________________
Tender is the day, The demons go away, Lord I need to find, Someone who can heal my mind... |
![]() |
![]() |
![]() |
#13 |
Guest
Posts: n/a
|
![]()
well i have 8 years of the only garenteed pension only way i dont get it is if the goverment falls but if i rejoin the raf this time and do 15 years which is there min service before instant pension, that means i have 23 years at there rate (which is higher than the armies lol) so i'll be retired at 45 with a 23 year set pension till 55 then index linked woohoooooo
Last edited by davepreston; 04-01-10 at 05:25 PM. |
![]() |
![]() |
#14 |
Member
Mega Poster
Join Date: Jul 2008
Location: Sheffield
Posts: 10,274
|
![]()
I've just took out the company pension scheme, took it to an IFS guy and he basically said I'd been given lazy advice-so another thing to add to my to do list
![]() Putting money into a pension so young still feels like a gamble...
__________________
![]() |
![]() |
![]() |
![]() |
#15 | |
Guest
Posts: n/a
|
![]() Quote:
If your employer still offers a final salary pension scheme then go for it whilst you still can. Put in as much as you can in addition to normal contibutions to "buy extra years". Money purchase schemes are still worth having as the govt give you your tax back on it. The lottery comes at the end when your pot (less a lump some of your choosing up to a limited amount) is used to buy you a pension on the open market. Retire young and you'll get less but for longer than you would if your retired later. Don't listen to the folks of the .org (inc me) though.... speak to an independent financial advisor sooner rather than later ![]() |
|
![]() |
![]() |
#16 |
Member
Mega Poster
Join Date: Jul 2008
Location: Sheffield
Posts: 10,274
|
![]()
That's what I figured, so ended up getting one. Wasn't a final salary scheme though they match what I put in.
__________________
![]() |
![]() |
![]() |
![]() |
#17 |
Member
Mega Poster
Join Date: Dec 2007
Posts: 2,708
|
![]()
Could you make it my wife, then we'll both be happy.... (only joking dear, honest)
|
![]() |
![]() |
![]() |
#18 |
Guest
Posts: n/a
|
![]()
Well I save 3% and my employer adds another 17%. I have the option to increase it another 3% and the employer will match it. Problem is though that this scheme is basically playing your money in the stock market and other similar places
![]() There must be other ways of doing it ![]() ![]() But I need to make sure I'm self sufficient without the inheritance! What about these policies that you pay in some cash and after X years they give you back a lamp sum or maybe pay you in installments? |
![]() |
![]() |
#19 | |
Member
Mega Poster
Join Date: Dec 2007
Posts: 2,708
|
![]() Quote:
The only issue I have with some of the government pension schemes, (our included) is this habit of senior officers getting promoted two extra rungs up the ladder a year before they retire, thus bumping up their final salary...and pension. It would make much more sense to base the salary on career earnings rather than final salary. |
|
![]() |
![]() |
![]() |
#20 | |
Guest
Posts: n/a
|
![]() Quote:
Don't knock it - my old man left the army as a WO2 having spent the previous 16 years as a sergeant and never even trying for promotion. He was only a WO2 for something like 6 months and spent most of that time using up accumulated leaves. He's got a nice pension though. |
|
![]() |
![]() |
|
|
![]() |
||||
Thread | Thread Starter | Forum | Replies | Last Post |
Crash.NET - Shinya Nakano announces retirement. | NewsBot | News | 0 | 29-10-09 09:50 AM |
Crash.NET - Shinya Nakano announces retirement. | NewsBot | News | 0 | 28-10-09 05:10 PM |
The 'What Are You Doing At The Weekend' Thread, sponsored by Brunstrom's Retirement Fund | Lissa | Idle Banter | 37 | 23-05-09 08:07 PM |
Retirement from org.???? | Biker Biggles | Idle Banter | 28 | 19-01-07 10:41 PM |
Gibernau to announce retirement? | The Basket | Bikes - Talk & Issues | 21 | 10-11-06 03:08 PM |