Opting out of SERPS way back in 1988 what does it all mean?
Discussion
groak said:
Well now, why pester me? Why not convince the poor bloke who was coerced into earning a commission for a conman that he was wise to contract-out just so that he could earn a parasite life company money for turning his serps fund into a colossal tenner a week payday after FORTY YEARS of handling his fund!
Go on. Tell the guy. The whole thing was a con to get a commission, wasn't it? Oh but it's all different nowadays, isn't it! Yeah yeah yeah.
I wish you would stop talking out of your arse.Go on. Tell the guy. The whole thing was a con to get a commission, wasn't it? Oh but it's all different nowadays, isn't it! Yeah yeah yeah.
This is all conjecture, and clearly based on what you used to get up to. Fortunately, you are a minority.
Once again, you ignore the facts.
Where do you think contracting out came from ?
Go back and check how generous the rebates were when it was launched and what happenned to them over time.
You clearly got up to a lot of no good when you were a life insurance salesman. Now you coerce people in to buying something else don't you. Funny how the likes of you always seem to end up in unregulated industries isn't it. No-one looking over your shoulder.
Please, stop these 'confessions of a dodgy life insurance salesman' sessions here. Its clear you find them cathartic, but you're talking as much cr@p now as you were when you were flogging your cr@ppy products. We don't need to know anything more about you to know that your advice should always be ignored.
Go get some proper therapy.
Edited by TFP on Monday 23 April 20:21
TFP said:
groak said:
Well now, why pester me? Why not convince the poor bloke who was coerced into earning a commission for a conman that he was wise to contract-out just so that he could earn a parasite life company money for turning his serps fund into a colossal tenner a week payday after FORTY YEARS of handling his fund!
Go on. Tell the guy. The whole thing was a con to get a commission, wasn't it? Oh but it's all different nowadays, isn't it! Yeah yeah yeah.
Some angry invective intended to be personal and offensive and then advised me to....Go on. Tell the guy. The whole thing was a con to get a commission, wasn't it? Oh but it's all different nowadays, isn't it! Yeah yeah yeah.
Go get some proper therapy.
Edited by TFP on Monday 23 April 20:21
The term 'investment professional' seems to suggest...indeed STRONGLY suggest....some expertise in investment.
Anyone care to comment?
Turns out I contracted out of serps about 15 years ago also without really understanding what i was doing. Another "advisor" is looking at my pensions at the moment and it would appear that the one related to my SERPS hasn't actually done too bad. He also aluded to the fact that the money is now mine rather than the state's - so even with the fees etc, its probably going to more than i will get from the state in 25+ years time.
After paying into pension for 23 years my funds are worth far less than I earn in one year today - which is pretty crap if you think about it.
It is fair to say that many many people have been absolutey sucked dry by the pensions industry.
After paying into pension for 23 years my funds are worth far less than I earn in one year today - which is pretty crap if you think about it.
It is fair to say that many many people have been absolutey sucked dry by the pensions industry.
eliot said:
He also aluded to the fact that the money is now mine rather than the state's - so even with the fees etc, its probably going to more than i will get from the state in 25+ years time.
^^^ THIS.The penny drops. Low return is better than no return. I'm 49 and I might, if I'm lucky, get a state pension, but i'm not holding my breath.
Anyone in their 20s or 30s who thinks they're going to retire with a few bob in the bank, a house they own in full, and still receive a state pension, is living in cloud cuckoo land. Not going to happen. Basic pensions will be means tested long before then.
Get as much as you can away from government and into your own name. It may do well, it may do not so well, but it will never be worth nothing!!!
TwigtheWonderkid said:
^^^ THIS.
The penny drops. Low return is better than no return. I'm 49 and I might, if I'm lucky, get a state pension, but i'm not holding my breath.
Anyone in their 20s or 30s who thinks they're going to retire with a few bob in the bank, a house they own in full, and still receive a state pension, is living in cloud cuckoo land. Not going to happen. Basic pensions will be means tested long before then.
Get as much as you can away from government and into your own name. It may do well, it may do not so well, but it will never be worth nothing!!!
Exactly, the state will be bankrupt long before most of us get to retire.The penny drops. Low return is better than no return. I'm 49 and I might, if I'm lucky, get a state pension, but i'm not holding my breath.
Anyone in their 20s or 30s who thinks they're going to retire with a few bob in the bank, a house they own in full, and still receive a state pension, is living in cloud cuckoo land. Not going to happen. Basic pensions will be means tested long before then.
Get as much as you can away from government and into your own name. It may do well, it may do not so well, but it will never be worth nothing!!!
The Ferret said:
Morningside said:
Now, according to the yearly statement after they tracked me down!
Did you move house without telling them?Although it still reads as if I did something RIGHT for a change by contracting out.
And if I will still get a small state pension maybe it would be OK for me to try and get this out at age 55/60.
fandango_c said:
eliot said:
After paying into pension for 23 years my funds are worth far less than I earn in one year today - which is pretty crap if you think about it.
It may be crap, but's it's probably because of how much you paid into the pension.eliot said:
Indeed - I didn't keep increasing my contributions as my salary increased - due to the overwhelming feeling that I was lining someone else's pocket rather than building a nest egg for myself.
What did YOU choose to invest in - how have the underlying asset markets performed over the period?sidicks said:
eliot said:
Indeed - I didn't keep increasing my contributions as my salary increased - due to the overwhelming feeling that I was lining someone else's pocket rather than building a nest egg for myself.
What did YOU choose to invest in - how have the underlying asset markets performed over the period?You wouldn't ask a financial wizkid to solve a critical IT problem would you?
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