Nagel Posted October 2, 2012 Share Posted October 2, 2012 I know what you're saying but how can it be classed as a payrise? Everyone who enrols will be getting less in their paypacket every week and, depending on the amount of pension at the end, could be losing out on benefits by being a pound or so above the income limit for them...they'd be worse off in both cases..while working and when retired..it's not always win-win... Do you honestly think there will be benefits available to the retired in years to come? Link to comment Share on other sites More sharing options...
truman Posted October 2, 2012 Share Posted October 2, 2012 Do you honestly think there will be benefits available to the retired in years to come? Yep...political suicide for any party to stop them given the predicted demographics.. Link to comment Share on other sites More sharing options...
Birds Posted October 2, 2012 Share Posted October 2, 2012 I'm in a private pension scheme that my employer organised; Whatever percentage I choose to pay into it, my employer will match it up to 7%. At the mo I pay in 5% but when I've paid one or two things off, I'll up it to the 7%. Link to comment Share on other sites More sharing options...
truman Posted October 2, 2012 Share Posted October 2, 2012 I'm in a private pension scheme that my employer organised; Whatever percentage I choose to pay into it, my employer will match it up to 7%. At the mo I pay in 5% but when I've paid one or two things off, I'll up it to the 7%. Is it a defined contribution or defined benefits pension? Link to comment Share on other sites More sharing options...
stingray-man Posted October 2, 2012 Share Posted October 2, 2012 I don't understand why people don't just save money themselves, i suppose its a lot easier to let someone else do it, anyway anybody know where i opt out ? thanks Link to comment Share on other sites More sharing options...
truman Posted October 2, 2012 Share Posted October 2, 2012 I don't understand why people don't just save money themselves, With a company pension the company puts money in for you as well and you get tax releif on the amount you put in every month...free money in other words.. Link to comment Share on other sites More sharing options...
Birds Posted October 2, 2012 Share Posted October 2, 2012 Is it a defined contribution or defined benefits pension? you've lost me there, lol. All the bumf for it is upstairs somewhere, I can't be bothered to have a look. Why do ask anyway? Link to comment Share on other sites More sharing options...
truman Posted October 2, 2012 Share Posted October 2, 2012 you've lost me there, lol. All the bumf for it is upstairs somewhere, I can't be bothered to have a look. Why do ask anyway? 'cos if it's defined contribution then you have no idea how much you'll get from it until you come very close to retirement..it's a bit of a gamble in other words...if it's defined benefit then you know how much you'll be getting from the outset ( usually as a percentage of final salary)... Link to comment Share on other sites More sharing options...
Birds Posted October 2, 2012 Share Posted October 2, 2012 'cos if it's defined contribution then you have no idea how much you'll get from it until you come very close to retirement..it's a bit of a gamble in other words...if it's defined benefit then you know how much you'll be getting from the outset ( usually as a percentage of final salary)... I see, OK I shall look into this. Link to comment Share on other sites More sharing options...
stingray-man Posted October 2, 2012 Share Posted October 2, 2012 With a company pension the company puts money in for you as well and you get tax releif on the amount you put in every month...free money in other words.. only if its paid out , and as other have said no one keeps a track of whats actually being paid in so how do you know if you are getting what your owed ? Link to comment Share on other sites More sharing options...
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