Pension Schemes

[Xtype]

Hi all,


Is it worth me paying into my company pension scheme? its a final salary pension and quite good, the reason why I ask is I do not intend to spend the next 30 years working for the same company, so it seems a bit of a waste and I might be better to set up my own private pension. Especialy as I plan to set my own business up.


Good idea to get a private pension? what would you suggest?

[Brother D]

Final salary? And you want to know if you should?

You must work the one single company in the UK that still has one.

There's a reason they have all closed. (Hint- It's not because they're not worth doing)..

[Xtype]

My question was not, should I pay into a final salaray pension, I know its a great pension but should I pay into my final salary pension when I do not see myself working for the same company for the next 30 years.

once I leave the company I will not be able to contribute to the pension scheme nor would I recieve any employer contributions.

[CaptainSlow]

If you work there for a certain length of time, usually over 2 years, you preserve the benefit. I would, and am, paying into a final salary.

[fandango_c]

Almost certainly yes.

Your employer will be contributing a lot into the scheme for you.

[sumo69]

You would never accumulate the same pension pot from a private pension to that of a employer final salary scheme - even if you leave, once 2 years service has been accumulated your "pot" is inflation protected funded by the company until you retire.

This decision should take half a nano-second of your braintime.

D

[eastsider]

The fact that you even had to ask this would mean to me you need some more professional advice than asking strangers on the internet.