Mike H Posted December 2, 2011 Posted December 2, 2011 Nice idea, that way when I retire in 44 years time there might at least be something left in the pot. The way I see there will be nothing left by then, no money from the government at all. Planning on my house and savings being my retirement fund pete g - there's not point arguing about pensions with a twenty-something !! Mike Quote
Dibby Posted December 2, 2011 Posted December 2, 2011 I'm 31, according to the forms I'm expected to retire at 75. Started work thinking I'll retire at 65, that moved to 68, now it's 75. End of compulsory retirement means it will be your own personaly responsibility when you can afford it. People my age have very low expectations about pensions but there's no point in me striking, it will delay the inveitable and cost the economy money. All I can do is accept my fate and accept the goal posts will move. Quote
Mike H Posted December 2, 2011 Posted December 2, 2011 Too true. Unfortunately, unless you work for yourself and build a nice little business that you can sell in later life you are in here with the rest of us. The best bet is to keep fit in your old age so you can get the best jobs down at Tesco. Mike Quote
dombanks Posted December 2, 2011 Posted December 2, 2011 Very, a luxury not available to the private sector sorry i dont get that comment. xswmbos dad retired draws his pension and also works freelance. he was private sector. also i dont think you can compaire two jobs to eachother when they are totally different. both may work long/short hours but it depends on what they are. i think the old age thing we are all skirting around and ignoring the obvious question. that in the case of alot of jobs (private and public) its not sutable to be old incertain environments so maybe we should develope a view to what can be done for people when they do get too old. the experience of many older workers is invaluable but their physical conditions let them down. Scott id love to come and work shadow you to see what you do. the stuff the current squeeze did over the way in arrowe parks ITU and now A&e soundes amazing Quote
Rab (bombero) Reid Posted December 2, 2011 Posted December 2, 2011 .. Wouldn't want a creaking old firemen .. .. .. trying to carry me out of a burning house if I was injured. I'm going to start taking my Seven Seas cod liver oil capsules .. or should that be Se7en Seas! Quote
Dibby Posted December 2, 2011 Posted December 2, 2011 It was meant that most pension plans in the private sector are designed to be drawn on at a retirement age of 65, not after 30 years of service meaning an 18 year old starter can retire at 48 and draw a pension for 30 years (assuming average life expectancy of 78). A 48 year old is still highly employable so can draw a full pension that will continue and a wage on top. Pay in at 11% for 30 years and draw out at 90% for 30 years. That's an awesome investment. I'm with you on asking what people can do instead of running off a list of what they can't do. Experience is worth a lot Quote
nikpro Posted December 2, 2011 Posted December 2, 2011 Pay in at 11% for 30 years and draw out at 90% for 30 years. That's an awesome investment. Show me a Public Sector pension that does that then? Quote
Lurksalot Posted December 2, 2011 Posted December 2, 2011 Pay in at 11% for 30 years and draw out at 90% for 30 years. That's an awesome investment. Show me a Public Sector pension that does that then? Mainly anecdotal , however , i do know a couple , Fire and police personel , have a perfectly satisfactory career in a single post , yet magically 2 years before they have to retire sudden promotions come along boosting salary , but more importantly the final salary for the pension calcs I am not particularly knocking it , just an observation Quote
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