Private pension age going up from 55.....

[anonymous-user]

First time in ages that I've felt smug about the fact that I'll be 55 in 2018

[anonymous-user]

sidicks said:

You should be grateful that accrued benefits are protected and that these changes have gone about 20 years after similar changes in the orivate sector.

Plus the scheme that remains is still hugely attractive compared to a) what you pay in and b) what can get afforded by most private sector workers.

Exactly this

[anonymous-user]

Sheepshanks said:

fandango_c said:

Sidicks is contributing, he's one of the few people on this thread who know what they're talking about.

He might know what's he's talking about but the vast majority of his posts are just having a go at people. Doesn't come across well.

Sidicks is invariably right about all things pension related and frankly shows an extraordinary level of patience responding to posts from people without a fvcking clue, which are without fail long on opinion and short on facts.

[anonymous-user]

XJ Flyer said:

fblm said:

Sheepshanks said:

fandango_c said:

Sidicks is contributing, he's one of the few people on this thread who know what they're talking about.

He might know what's he's talking about but the vast majority of his posts are just having a go at people. Doesn't come across well.

Sidicks is invariably right about all things pension related and frankly shows an extraordinary level of patience responding to posts from people without a fvcking clue, which are without fail long on opinion and short on facts.

I'd suggest that the fact that no bank would be stupid enough to give me £500,000 as a lump sum to buy a house with or for that matter £5,000,000 to buy up a whole street.On the basis that I'll pay it back at £500-£5,000 per week from the age of 65 and if I die before the money is all paid back tough they lose the difference,shows who's got a clue in this case.

Edited by XJ Flyer on Thursday 24th July 15:18

I long since stopped reading your myriad bizarre posts so have no clue, or interest in, what you are talking about.

[anonymous-user]

anonymous said:

[redacted]

That's the new rule coming into play isn't it?. Take the lot as cash, pay income tax and then do what you want with what's left.

[anonymous-user]

anonymous said:

[redacted]

No matter what your financial circumstance? So the need to prove £12k goes on April 6 2015?

[anonymous-user]

SunsetZed said:

Correct

Thanks - I thought I was right on this but good to have it confirmed.

So really no one should retire until then - although I foresee a lot of problems with pensioners pissing their pension up the wall and then having nothing.

[anonymous-user]

PurpleMoonlight said:

No doubt some will but a small minority I'm sure.

People who have been disciplined enough to save into a pension scheme for a significant proportion of their life aren't going to suddenly abandon that and rely on the Government for their income.

Good point.

I'll be buying a Lambo hopefully bit will still be able to support myself.

[anonymous-user]

Sheepshanks said:

Yes, well done. We've reached the lowest common denominator position.

Bless.

Edited by anonymous-user on Monday 28th July 04:35

[anonymous-user]

Sheepshanks said:

So it's basically not worth anyone bothering with pensions.

If public sector workers make that decision that would be excellent for the treasury but a spectacularly stupid personal decision. I'd be worried if my nurse or doctor were that thick! Amongst all the flapping about the public sector having their incredibly generous pensions replaced with very slightly less incredibly generous pensions the fact that no one has lost a penny of their, already earned, benefit seems to get accidentally on purpose forgotten by some. There is no precident for anyone to have their accrued benefits taken, so to take the decision now, not to start accruing that benefit, is idiotic.

For the private sector sitting on a real pot of cash relying on investment growth the picture is completely different. I always took the view that the UK's private pension savings represented too tempting a trough for the politicians to keep their snouts out of. When Brown helped himself to what is now estimated to be over £100bn from private pension savers that was from money already invested, which we could not withdraw.