The battle has started

[M.P]

I'm happy.

I have been self employed most of my life and took out a private Pension Mortgaged linked years ago, very cheap then.

 

Now retired at 60 through ill health, the pension is bringing in a nice little earner on top of other benefits. It also included a lump sum to pay off/towards my house, but that got paid off early, so was a handy lump of cash in the pot.

My second home purchased outright and our long term plans are to sell this off at the age of 65 and kiss the UK goodbye.

 

Also made sure that if i pop off to the pearly gates that my income is protected and the wife/family will benefit with the continued payments many years to come.

 

Motto to the storey, look after yourself Number 1, as no other ****** is going to do it.

[Alan Stubbs]

....... look after yourself Number 1, as no other ****** is going to do it.

 

 

But that's exactly what the founders of the Welfare State said WOULDN'T happen.

 

So lying and politics going hand in glove isn't the preserve of the modern day politician after all.

[DavyR]

Isn't part of the problem that the first cohort of pensioners didn't pay anything into the system, and it's now impossible to "catch up"?

[Alan Stubbs]

Isn't part of the problem that the first cohort of pensioners didn't pay anything into the system, and it's now impossible to "catch up"?

 

Yes, but it's exacerbated by the actuaries' insistence that our life expectancy is increasing as well.

 

As you live longer, so you'll be withdraswing more from the 'pot' which we know doesn't actually exist.

[Steve Walker]

Isn't part of the problem that the first cohort of pensioners didn't pay anything into the system, and it's now impossible to "catch up"?

 

That's the root of the problem. The scheme's income is proportional to the number of taxpayers, not the number of pensioners. Political solution, short term and stupid.

[Ken Davison South Wales]

John (2 Sh*gs) Prescott is 68 today, still working full time and when he retires can look forward to enjoying his £1,000,000 boat and receiving his nice pension which we have all contributed to.

 

I will have to give him a bell and see if he is up for a fishing trip

 

I gave up on pensions years ago back in the sixties when selective employment tax came in, sacked Friday reinstated Monday self-employed, for me it said it all.

 

Since then I have worked hard, played very little and invested in property and will have a reasonable sum in my control to retire on.

 

I have passed on this advise to my two children who are both home owners, doing up and selling as I did, it is a fight to succeed but worth the effort.

[Dan]

The news that people will have to work till they're 68 instead of 65 before they get a state pension would have been greated by riots in France but the British just rolled over and took it.

 

Two weeks ago, my employer, the DWP (and presumably the rest of the civil service) removed compulsory retirement ages - we can now work till we're 90 and drop dead in the office - and given the pension provision for office staff (Not the senior civil service fat cats), a lot of people will have to do just that.

 

No doubt other employers will be following the civil service model.

 

Now, we have this in the news http://news.bbc.co.uk/1/hi/uk/5019568.stm.

 

Ever get the feeling that somebody is out there trying to convince you that you actually want to work yourself into the grave ?

 

 

I work for DFT no mention of it here (yet) so dont think its Civil service wide, couldnt see any mention of it on the Pension Web site, presumably you can still retire on voluntary terms?

 

dan

[Andrew]

I'm in the works pension and have my top up pension per month, i pay the full permitted amout.

 

Will i be penalised when i retire for thinking of the future for my family and myself, one word.

 

YES as will everyone else with a private pension.

 

My dear dad has a war pension, and he's penalised for having it, he's over the limitby a QUID, one lousy queens pound, he's stopped from getting help with the Council Tax, etc, makes you wonder if its worth "looking after" yourself for the futue,

[nursejudy]

I just hope my back and my knees will be able to cope if i have to work till I'm 67/68 the nurses will be more decrepid than the patients

[Vagabond]

Why do I have a problem with all this moaning about pensions? ..... I often struggled to pay my private pensions each month, but I did it and now have a reasonably good income

 

I also bought a private pension, which with my state and occupational pensions allows me to live reasonably well and take the occasional marlin fishing trip

 

So like you Den, I am alright Jack.

 

However, those still paying for their pension will not see too much pension for their money when they retire, thanks to Gordon Brown thieving FIVE BILLION POUNDS ANNUALLY out of the country's private pension schemes.

 

I know population dynamics means the future is far from rosy for future pensioners, but Brown is making it a damn sight worse.

 

Don't blame me, you put 'em in.