Are Pensions Worth It? – Page 2 – Chat Forum – Singletrack World Magazine Forum

Torminalis · 2013-01-22T15:17:08Z

I have been getting increasingly skeptical over the last few years about the value of Pensions. I have a pension and it seems to change very little in value each year despite putting money into it and I am seriously thinking about stopping contributions and developing an alternative plan of some sort (god knows what). The reason for this is to do with several factors and experiences over the last few years: My Mothers pension has been reduced to a pittance by recent events, despite putting away a lot of money over the years. Eaten up by fees, instability in the markets and mismanagement she is now looking at a pension of less that £6k per year. Working for a large pension provider for the second half of last year, it was widely agreed throughout the staff that pensions were the largest ponzy scheme ever devised and by the time we came to get a state pension, there would be nothing. How long will it be before our government has to do something similar to the [urlwho have now spent over 90% of their pension funds buying up their own bonds in a bid to stave off financial ruin and going cap in hand to the ECB. We have an aging population and it doesn't look like a trend that is going to reverse So, should I keep paying into my pension? How many who have retired consider their pensions to have be a good investment? (and when did you retire, how much did you pay etc...) Has anyone formulated an alternative plan to a pension and acted upon it? Does anyone have a good reason to be optimistic about their pension? Very interested to find out what the collective thinks on this as you have never failed me thus far.

FuzzyWuzzy

Posts: 8755

Full Member

I wish the people running the pension scheme I'm in had just stuck it in a bank or on the horses, probably would have given a better return than I'm getting.

Posted : 29/01/2013 1:35 pm

binners

Posts: 57391

Full Member

I think what hasn't been thought through properly is the impact all these changes are going to have on the wider economy.

How many of those garden centre's are going be still there once everyone's spending their twilight years working in B&Q for minimum wage? And what on earth is Tenerife going to look like outside the school holidays? Salford 6, that's what!

Lake District Tea Rooms? Couch tours of Historic walled cities? Those companies that advertise elasticated slacks in the back of Sunday Supplements? Decimated!!!!

Posted : 29/01/2013 2:34 pm

mt

Posts: 48

Free Member

oh sh1t

Posted : 29/01/2013 4:30 pm

philconsequence

Posts: 0

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have to say, i agree with binners.... hence my advice on investing in become as self sufficient as possible

Posted : 29/01/2013 4:36 pm

Torminalis

Posts: 0

Free Member

Topic starter

Those companies that advertise elasticated slacks in the back of Sunday Supplements? Decimated!!!

If you are working in the ornamental plate industry, the boom times are over pal.

Posted : 29/01/2013 4:36 pm

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[Closed] Are Pensions Worth It?