I really need a private pension...

[Elite]

I am 30 soon and don't have a pension set up. I need to set one up privately, are there any schemes that people could recommend?

[TheHowieLama]

[Jairzinho]

Put it all on red.

[SilverSong]

Buy gold.

Or die before you retire.

 

Thats kind of my plan. Without the gold.

[Kloppite]

I am 30 soon and don't have a pension set up. I need to set one up privately, are there any schemes that people could recommend?

You should enter a company pension as you will be better off.

 

You will get tax relief and your employer also has to contribute to it.

 

With private pensions you are the only one who pays into it.

 

Private pensions are only suitable for self employed people.

[Jairzinho]

Move abroad and get a state pension you can actually survive on.

[skend04]

Buy gold.

Or die before you retire.

 

Thats kind of my plan. Without the gold.

Seconded. Live your life to the full and prebook an appointment at Dignitas for when you retire.

[Elite]

You should enter a company pension as you will be better off.

 

You will get tax relief and your employer also has to contribute to it.

 

With private pensions you are the only one who pays into it.

 

Private pensions are only suitable for self employed people.

My company pension is shit. I work for 2 different companies so literally pay fuck into them.

[TheHowieLama]

[Bobby Hundreds]

I'm turning to crime when I retire. Be exciting in old age and if I'm caught I'll get a roof over my head and fed. Thinking an old gentlemanly cat burglar.

[Kloppite]

My company pension is shit. I work for 2 different companies so literally pay fuck into them.

It may be shit but its better than paying into a private pension

[TheHowieLama]

I'm turning to crime when I retire. Be exciting in old age and if I'm caught I'll get a roof over my head and fed. Thinking an old gentlemanly cat burglar.

[Nunavut Patrick]

I'm turning to crime when I retire. Be exciting in old age and if I'm caught I'll get a roof over my head and fed. Thinking an old gentlemanly cat burglar.

Is there are a market for stolen cats, though?

 

I've got three pensions, one from a private employer, one from the ex-wife (30% have that you cunt after she said you will never touch my fucking pension) and a city one now.

 

Between them I will be able to afford tinned beans, a crate or two of Heineken and the odd night out.

 

I plan to become an opiod dealer. Lots of money in that fentanyl patch shit and in about 12-14 years when I retire the masses will be so disillusioned and desperate with their lot in life there will be a big market for it.

[ZonkoVille77]

You'd be better off putting your money together with someone else's and buy a house together with it and then rent it out. Just sell the house when you retire and live off what you make. The problem with pensions is what they are invested in. I know people who paid into pension schemes all their lives and lost it all during the crash in 2008. You never really lose to the same extent with property.

[Lario]

The only way they could've lost it all is if they cashed out at the bottom, and even then they couldn't have "lost it all" as the markets never hit zero. Cashing out when it goes down is the only sure fire way to crystalize your losses.

 

The Nasdaq and Dow Jones recorded recorded highs last month. If your friends had not "lost everything", they'd be way better off than where they were at the height of things back in 2008.

 

When the markets are on the way up, you buy. When the markets are on the way down, you buy!!

 

@ Elite. Does it have to be private, or have you a company option? I know this guy's American, but the same concept applies on this side of the water.

[YOUTUBE]https://www.youtube.com/watch?v=7wjuCgtL0yA[/YOUTUBE]

 

 

[Captain Turdseye]

I'll be severely disabled by that point and will be raking in a fuck load of benefits provided by you, the taxpayer.

 

Suckers.

[Rick Sanchez C-137]

I'll be severely disabled by that point and will be raking in a fuck load of benefits provided by you, the taxpayer.

 

Suckers.

 

Jammy bastard!

[magicrat]

It's a no brainer to pay into a company scheme if you have the opportunity and get the tax relief, Returns in any investment are shite at the moment unless you have the cash to buy property. If your company scheme is shit or the commissions high you can go into a PIPP ( personally invested private pension,)  and still get the tax relief . You need to see an Independent Financial Advisor if you want to do this, I would advise you do this anyway, Its normally free to get some initial basic advice, A quick web search should help you locate someone half decent nearby,

I read the other day Hammond plans to revise the rules on pension tax relief to make it more attractive to basic rate earners . At the moment it massively favours higher rate earners who get their relief at 40 or 45 percent, In any event if you are a taxpayer on PAYE and want a pension the priority should be to maximise the use of the available tax relief. If you get bonuses some employers can be persuaded to enhance the amount if you take the money as an additional lump sum contribution to your pension, They can afford to do this as they don't pay employers NI on pension contributions, I think its 9 % of the top of my head. Hope some of this helps, 

[lifetime fan]

I'll be severely disabled by that point and will be raking in a fuck load of benefits provided by you, the taxpayer.

 

Suckers.

Not with a fucking tory government you won't!

[Rico1304]

Not with a fucking tory government you won't!

I'll attach a lawn mower to his wheel chair and he can do my garden.

[lifetime fan]

I'll attach a lawn mower to his wheel chair and he can do my garden.

He'd need 30 batteries on his wheelchair to mow your estate M'Lud.

[Captain Turdseye]

Not with a fucking tory government you won't!

We're talking about forty years into the future here. Red Phoenix will have brought about the revolution by then and Hades will be Secretary General of the UN.

[Rico1304]

We're talking about forty years into the future here. Red Phoenix will have brought about the revolution by then and Hades will be Secretary General of the UN.

The only way he'll be in the UN is if his mum kicks him out and he has to live in his gran's basement. Under Nana's.

[Pidge]

My company pension is shit. I work for 2 different companies so literally pay fuck into them.

 

Charges at this point should be capped at a reasonable level and you should have the option to pay additional funds in yourself (unless the scheme operates under it's own trust - although group personal pensions where you are the contract holder are a bit more common these days), your employer might even pay more in if you up your personal contributions.  You should have some say about what kind of funds you are invested in as well.  If it's an auto-enrolment scheme contribution levels will be increasing over the next few years and so you could be seeing around 8% in total going in at least. Most individual personal pensions will be on worse terms than your company deal since you've lost the group bargaining power that will have set the original terms.

 

Worth having a look out there, but maybe a stocks and shares ISA or something that gives you the ability to withdraw cash before 55 might give you that middle ground where you can save and invest a certain amount, but still have control over the cash if you need it.  Totally depends on your situation and priorities but a pension isn't the only way to save ahead of inflation (for now, at least, next year might get interesting on that front), speak to an adviser if you're serious - even a bank/building society can give you an idea of your options, even if they do so in terms of their own products...

[Strontium]

Hades will be Secretary General of the UN.

 

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