General Chat

All the clues suggest that this time round the earlier the better will not only be beneficial, but actually nessecery.

We won't have much, only 20 years off retirement and we can't afford to live now. How can they expect the average person to put £200 plus a month away these days. My daughter (18) has already had a booklet from the government advising her about starting a pension sooner. She's only just started working for 8 hours a week, thats going to be a lot for her to live on isn't it.

The way things are going Daniel - instead of buying stuffed animals - put your spare pennies in a pension fund now. Ann

I didn't, but wish now that I had. I shall not have much money to live off when I retire! I have tried to encourage my children to pay into a pension plan but its very difficult when you are young to think of something that is not going to happen until 30 or 40 years time!!

Daniel...are you trying to change the subject from a frilly nightie to pensions? Lemon told me you were only 17.I thought she was only joking about the 70 bit !!! Hop-a-long

If Lemon gets hold of you Dan I wouldn't think you'll need a pension LOL Ken x

If you wait 3 years, Dan, I'll tell you if it's worth it. I started paying into a pension fund at the age of 19, but because I was only with the company for 8 years, the fund was 'frozen', apart from inflationary increments. At the last statement, I was due to get about £7 a year from it from the age of 60. Only 3 more years to wait. I wonder what I'll be able to buy with £7 then? CB >|<

Daniel...your mammys calling you.You are in sooooo much trouble.I think you will be grounded,humphhh Hop-a-long

Dont worry dan you wont need a pension when i catch you sweetie XX

I started mine too late....I encouraged my daughters to start almost as soon as they started work, which they both did. So now seems like a good time Daniel! Jacquie xxxx

Little nudge

I wish I had started early cashed mine in early as it wouldn't be worth much and got a jobs done on the house. My son started his at 21, 34 now hoped to retire early if his legs didn't hold out. But not sure how much it will be worth now. My daughter started her early 20's too. Get some good advice first Daniel. Germaine x

I never earned enough to be able to continuously pay into a pension fund. I have lost count of the number of times I have started an endowment policy, then a change of circumstances would mean that I would no longer be able to afford it, so lost all the money I had paid in for the past several months. And at today's prices? Don't make me laugh! Whatever happened to the days when a pound was REAL money.

Because I worked for Civil service I was lucky, i didn't have to make a decision. But I had time off when the children were young - didn't work from 1961 -1976 so lost those years. however I have a small company pension, Tony has a company pension and we have the OA pension and we don't do too badly. As long as we don't go too mad. Ann glos

Daniel,Its far better to invest your money in Property,' If possible',The Government can,t take it off you,and the rental you get after taxes etc.far outweigh the meagre pensions offered,when you read daily of the reductions people are getting and the false expectations Which were Sold to some people. Plus Gordon Brown takes about 6 billion yearly from private pension funds. Hal.

46. When I was divorced had to start work. Civil Service. It was compulsory but I'm semi retired now and the pension is quite (very) good in fact. Mind you I paid AVCs to ensure that. Jan x

Daniel, your far too young, put it into another form of savings plan, think about pensions later, my hubby was in finance all his life, so ive learnt rather alot!!

Forties - far too old! When I started work (at 16), we paid into a superannuation fund but this was refunded to you when you left the job - needless to say, it was spent immediately! Oh well, it's too late now... Lily

pension funds aare a con-just another way of providing a bank of money for banks and other companies to play on the stock market-they are very quick to tell you that the funds will be low because the ftse is falling but slow to remind you when its rising. youre safer putting it away in a 90 day notice building society account ,getting 4-5% interest,that way you cant get your hands on it straight away just as safe-shares in tesco-everyone needs to eat.

Worked in local government all my life and paying into the pension scheme was compulsory from when you hit 18, so I paid in from then. Contribution was 6% of your salary. Was never on brilliant wages so even after 40+ years contributions my pension is poxy