Pensions

[hulahoop09]

Hiya

Okay so back at work and my manager said I need to start thinking about paying into a pension. I havent as yet as hadnt settled into a workplace and not had the cash. I am 30 next year. I work in a docs surgery and I would pay 4% and work would pay I think 7%. By the time I can retire it will be when you die! And if I put into it by time I am 60 will have about 2 yrs salary in there.

There is so much negative press etc and I am confused aboutit all. Is it worth it or will I lose out? What happens to mention if I leave workplace or made redundant etc? What happens to my pension if I cant afford to retire?! I just dont get it all! Lol.

Help!

Xx

 

[MrsRH]

Hiya

Okay so back at work and my manager said I need to start thinking about paying into a pension. I havent as yet as hadnt settled into a workplace and not had the cash. I am 30 next year. I work in a docs surgery and I would pay 4% and work would pay I think 7%. By the time I can retire it will be when you die! And if I put into it by time I am 60 will have about 2 yrs salary in there.

There is so much negative press etc and I am confused aboutit all. Is it worth it or will I lose out? What happens to mention if I leave workplace or made redundant etc? What happens to my pension if I cant afford to retire?! I just dont get it all! Lol.

Help!

Xx

if you can afford 4% of your wage then try to pay into a work pension as basically your employer will be giving you FREE money!!

if you don't pay in now, you will have a bit more in your purse now but nothing coming in when you retire and the way things are going, old age pension when we are old will be very little or even nothing.

also what you and your employers contribute will gain interest. Think of it as putting a little aside every month like in a saving pot for retirement and someone giving you free money to go in the pot too!!

If you leave or are made redundant, the savings pot just freezes ie you or your employer don't contribute but the amount goes up gaining interst and you get the savings when you reach retirement age

hth
my OH is a pensions accountant so I know a wee bit

x

 

[hulahoop09]

Thanks! I am going to start putting in from next year deffo. Xx

 

[nugget80]

i have no pension yet either as have never settled in a job and am now 32...! off to uni in Sept to do teaching but once working Will defense be paying into a pension. although at the moment the cash strapped government are trying to raid teachers pensions to get themselves more cash...!

 

[hulahoop09]

The government suck ass! Lol. Our doctors took industrial action last wk, god knows where the news got info that gos earn 120k cause they certainly dont round here! Lol. We are gna be working til we drop i think anyway as they keep putting age up and screwing people over in all other areas. Lol. Xx

 

[nugget80]

yep...! teachers unions have joined together to take action now and members currently voting on action!