Robots?
Your State Pension
- Thread starter GrumpyGregry
- Start date
Page may contain affiliate links. Please see terms for details.
Robots?
OP
OP
GrumpyGregry
Here for rides.
How have you managed to organise that? My private pension arrangements are woeful!
SteCenturion
I am your Father
- Location
- The Dark Side of the Moon.
My State Pension eligibility age is 67. No way can I work to 67 without becoming clinically insane, shift work, long hours, mind numbing tasks + crazy 2 jobs roled into 1 working.
I am not a pit pony, much as Government would like me to be, whereby I work until death.
With this in mind, I have pre determined that at around 60 to 62 years of age I will suddenly be unfit for work for several reasons & will cut my cloth accordingly.
I am not a pit pony, much as Government would like me to be, whereby I work until death.
With this in mind, I have pre determined that at around 60 to 62 years of age I will suddenly be unfit for work for several reasons & will cut my cloth accordingly.
nickyboy
Norven Mankey
- Location
- You want hills? We got hills
I paid in maximum Additional Voluntary Contributions to my private pension (I seem to remember it was 15% of salary) for quite a few years in my thirties which was a while ago. As I mentioned, I am fortunate that the work I do is not governed by a fixed retirement age and I enjoy it so I plan to continue as long as possible. This will hopefully supplement my private pensions
We'll see...I'm sure that things will work out differently. It's hopefully still quite a way off
Could you not just find another job, one you enjoy.
NorthernDave
Never used Über Member
- Location
- The real Northern Powerhouse
Well, officially I'll be eligible for the State Pension in 21 years and 1 month. In reality I would be very naive to think that my eligibility date isn't going to be pushed back by a good few years between now and then, if such a thing as the State Pension still exists then.
I've worked full time since I was 17, barring maybe a combined total of 12 months "resting between exciting employment opportunities" in the last 30-odd years.
I contracted out in the 80's as that's what we were all told to do, but contracted back in during the 90's when I joined a company that had a final salary pension. Unfortunately after a few years of paying into that Tony and Gordon plundered the nations pension pots and that was closed.
Will my pension provide a decent standard of living in old age? Will I even reach the ever shifting pension age? No-one seems able to tell me, yet the advice remains to keep paying into a state system that can't carry on like this and into a company pension that hoovers up money that I could use now on the promise of an ethereal benefit that no-one will define at some point in the future.
I suspect I'll end up like my late dad, who paid into a works pension only to find that the small amount he received from it on retirement was just enough to preclude him from pretty much all other benefits.
I've worked full time since I was 17, barring maybe a combined total of 12 months "resting between exciting employment opportunities" in the last 30-odd years.
I contracted out in the 80's as that's what we were all told to do, but contracted back in during the 90's when I joined a company that had a final salary pension. Unfortunately after a few years of paying into that Tony and Gordon plundered the nations pension pots and that was closed.
Will my pension provide a decent standard of living in old age? Will I even reach the ever shifting pension age? No-one seems able to tell me, yet the advice remains to keep paying into a state system that can't carry on like this and into a company pension that hoovers up money that I could use now on the promise of an ethereal benefit that no-one will define at some point in the future.
I suspect I'll end up like my late dad, who paid into a works pension only to find that the small amount he received from it on retirement was just enough to preclude him from pretty much all other benefits.
Eventually workplace pensions will be over qualifying amount 3% contribution employer, 4% employee and 1% government tax relief. Unfortunately a lot of companies have used it as an excuse to drop their only slightly better schemes (which are absolutely crap) and are now paying in less than before. That and if you're on minimum wage as a lot of people are then you may not even earn enough to pay into a workplace pension unless you work enough hours. Although a lot of companies are getting out of paying pensions and NIs as much as possible by offering short hour contracts or zero hour contracts.
SteCenturion
I am your Father
- Location
- The Dark Side of the Moon.
Easier said than done.
I have considered that in the future I might take a lower paid job but not currently affordable.
slowmotion
Quite dreadful
- Location
- lost somewhere
Blimey...no one expected The Thread Police....
Beebo
Firm and Fruity
- Location
- Hexleybeef
Dont forget that the employer pays an equal NI contribution to the enployee, so what you see as NI on your pay slip is infact only half the actual amount.
hopless500
Trundling along
- Location
- not-as-flat-as-you-think Norfolk
Great joy. I will get the basic £119.
Just as well I have a couple of private small ongoing pension schemes.
Just as well I have a couple of private small ongoing pension schemes.
Andrew_P
In between here and there
I should really I was aware someone was trying to track me down via the electoral roll. I have not got a clue where to start looking for the paperwork it was years ago! I was actively encouraged by my caring employer at the time with a mate of his never realised it meant he saved money as well and probably got a little kick back as well.
I think this new pension push has a future PPI claims written all over it as well.
The new workplace pension is well motivated it means another pension for millions of employees. Sadly it is in reality a way for employers to pay in less i.e. 3%. As many of us on this earn minimum wage our contributions will be so tiny that it is barely worth it. Many barely earn over the threshold as full time jobs are so incredibly rare now.
Someone from another work site was complaining about her new employer saying instead of contributing 9% they now contributed 0.8% - i cant remember when it bumps up by eventually 3% in april 2019.
Drago
Legendary Member
- Location
- Suburban Poshshire
Blimey, and I used to shovel 15% of my salary into my pension.
