Don't tell me that, i'm due to get mine in 2038.
I know of some retirees who spend a lot of their time worrying about whether they are getting the last penny from every investment t that they have. They get depressed if they miss anything. Sometime, peace of mind is much more valuable than chasing every bit of money.
I know of some retirees who spend a lot of their time worrying about whether they are getting the last penny from every investment t that they have. They get depressed if they miss anything. Sometime, peace of mind is much more valuable than chasing every bit of money.
The "justification" has been the increase in average life expectancy justifying a delay in the state pension age because "everybody" lives longer than they used to. Problem is that male life expectancy today is as it was 10 years ago (79) and female life expectancy as it was 7 years ago (82.9) so the "justification" has gone away. However do you think they'll do it anyway?
Actually I only have a single annuity with Standard Life which gives me £23 after tax, - I had to use the residue of my DB pension bucket on an annuity. My comment was related to my attitude generally on money matters, i.e. life is too short to chase every money opportunity, I can't take it all with me and no amount of money will buy me any more time here. By all means one can pick the low hanging fruit but don't live one's life in misery by obsessing over somebody making a few pence out of you.
Yes, a very good point. I never paid into either SERPS or SSP as I was in final salary based schemes for my entire working life.
aware of how SERPS or SSP operated, so did those schemes effectively allow a firm to provide an enhanced pension for staff by using the DWP, rather than a mainstream pension provider? Was there a period when they were compulsory if an employer didn’t run a pension scheme?
I was in a defined contribution scheme from the mid 1980s. My employer put a contribution in (5% of my salary IIRC), and I think I had to put in something like the same again, though it could be more. That sum could either go to a private pension investment, or into SERPS or SSP (at different times).Yes, a very good point. I never paid into either SERPS or SSP as I was in final salary based schemes for my entire working life.
I expect there’ll be a few forum members like me who haven’t been fully
I suppose though, that the same issue of opaqueness applies? That is, if you‘re a journalist aiming to write a scary article about pensions in general it’s going to be tempting to ignore the possibility someone was in one of those schemes.
SERPS and mainstream company pensions with enhanced benefits (AVCs) weren't mutually exclusive AFAIK. I had both in the '80s, both of which were carried through and now paid in retirement .Yes, a very good point. I never paid into either SERPS or SSP as I was in final salary based schemes for my entire working life.
I expect there’ll be a few forum members like me who haven’t been fully
I suppose though, that the same issue of opaqueness applies? That is, if you‘re a journalist aiming to write a scary article about pensions in general it’s going to be tempting to ignore the possibility someone was in one of those schemes.
In the late 90s it was all the rage to opt out of SERPS, on the basis that alternatives would generate a better return. And then interest rates and the like collapsed and returns went with them and opting in suddenly became quite popular! I was a financial adviser at the time and recommended a lot of people opt out, but I'd moved on by the time circumstances changed. I think the GMP is what appeared to ensure that those in occupational schemes who opted out didn't lose out as a result.I expect there’ll be a few forum members like me who haven’t been fully
I think the whole issue of the current, often called New State Pension, and how it compares with the Old State Pension is something which often gets overlooked. A very large percentage of pensioners are only on the old state pension which does mean that they only receive at the most £8000 a year. More recently retired pensioners who meet the criteria to receive the new state pension will be betting around £9,600 a year. There has been lots of criticism of the triple lock increase that is going to be continued to be applied to state pensions. Increasing pensions by the current high rate of inflation percentage only widens the gap between those receiving the old and new state pensions. When the press, and indeed people in this forum, report on how much pensioners are to receive, they are usually referring to those on the new state pension.
Hmm... now what might have caused the UK to underperform the USA? Can't think of anything.
Surely that will result in the same percentage gap between old and new.
Which if price inflation averages out across normal purchases, means that the relative positions of the recipients remains the same.
Who said anything about 2016? The underperformance started much further back than that - from 2010 onwards based on that chart.
