Anyone NOT got a pension ?

[bmgm3]

ok, so some of the younger members might not have a pension yet, but what about those of you over 30 ? The way property prices are going just now, I'm thinking of stopping mine to save towards a house of my own. Putting money away for 35 years time, which could yet go up in the goverment gets their way, seems pointless when I can't get enough money together for a house.

[Karen182]

I've got no pension and do not own a property and I'm 35. As bad as it is, I live for today, not a time in life I may not even get to.

[randlemarcus]

34, house check, wife check, 3 kids check.
Pension, oops.

Meant to be with this company for 6 months, rather than 6 years, and sort of missed the final salary scheme. Now she is saying she might want a divorce if I'm not more polite, so thats the pension idea F&*cked for a few more years then.

Plus I'm really unconvinced by the whole thing when you retire..

[UpTheIron]

I have a pension, but it is much smaller than it should be for my income etc...

I used to plough loads into it...turned out to not be such a good investment.

It's not just about a 'pension' but planning/investing sensibly whilst also living for today. I would consider putting a roof over your head (that you own) a higher priority. But prepare to sell it in 20 years for something smaller and retire of the capital...

[Selmer]

Endowment but no pension.
I'll think about it when I'm earning some proper money.

[parrot of doom]

Face it, if you're about 30 now, you'll be retiring when you're 75-80.

My dad thought he'd never live to see his pension, not surprising tbh as people were dying at 55 then.

[EmmaP]

I've not got a pension. I bought a house just after my thirty first birthday. It has more than tripled in value in the past five years. That is my pension. Being a self-employed photographer, I fully expect to carry on taking photographs until I drop dead.

[sotons2]

I've got a decent pension - been putting away about 15% of my salary since I was 20 (18 years ago).

Sad thing is, if I'd have invested that cash into property I would probably have retired by now.

Never mind, roll on 55....

>> Edited by sotons2 on Friday 20th May 23:11

[white_van_man]

no pension at the moment i did have on with a previous employer but i coled that down but iv had a house for a year now and im only 23

[jas xjr]

i dont have a pension as such but since i was young! haha i have put all my money into property. having seen what has happened to the pension industry i am glad i did. not that i forsaw anything like that happening but at least with bricks and mortar you have something tangible in the long run.
knowing what i know now however i wish i had bought a supercar when i was 30. 42 now and i have a nice portfolio of properties and only work partime....i wish i had bought a supercar when i was young enough to enjoy it. drive a jag xjr now and dont have the balls to enjoy it.

[rude-boy]

An endowment and a mortgage since I was 21 and I'm 28 now. Pension? Err opps.

o/t Anyone else remember those pension ads with the speed limits going 30,40,50 and asking when you planned to start thinking about getting one?

[mxdi]

I have a personal pension but do not currently pay into it, I am waiting for my company pension invite to come through. I do not own a property.
And yes that is scary as I am realist and beleive that I will live until I am 90 which means 25 years of retirement.
Whats even scarier is I have only 33 years of work to go.
I heard an ISA would be a better investment than a pension? Or have pensions now recovered?

[JMGS4]

Apart from an insultingly low army pension (6d a day! 0 2.4p/day which hasn't changed ion 30 years!!!FFS!!!) which costs more to cash than the quarterly checque is worth...I've no pension at all. Monies are tied up in business and home and the majority of people here in germany into owning businesses/self employed are probably in the same boat.......

[anonymous-user]

I'm 42. From 1986 to 1999 I put money into a pension fund and also lots into IT stocks. Left full time work in 1999 at 36 and cashed in my IT stocks (just before the .COM crash) and stopped paying into my pension. Used much of the profit from stocks to buy property to rent out which has obviously grown hugely since. Just sold my properties and looking to sell my last property now to build my own house. Semi retired now.

Moral.....pensions great idea, crap reality. No one cares about your money more than you so take control of it and do not let some faceless fund manager control your destiny.

[x5x3]

The main difference between a pension and an ISA is that the pension is tax free on the way in and the ISA is tax free on the way out.

Therefore the pension appears the better bet, but you must remember that there are many rules covering the use of a pension pot - and at the moment there are none on the proceeds of an ISA.

I have stopped paying into a pension and now invest in a diverse portfolio which includes ISA, premium bonds, cash, gold and other things.

My prime goal is to remove the Governments control over my future.

[bga]

paying the minimum I can into company scheme to get their top level of contribution. As under 30 it's not too huge. Put some money into ISA's at the moment. Some other plans also to ensure a bit of diversity when I can afford it.

[2 Smokin Barrels]

I have never owned a flat in France.

[Size Nine Elm]

I've invested in an open plan garden.

I would really like a self-managed pension fund, where you get the tax breaks for a pension, but can put the money into property yourself.

Keep the government out of it. And annuities.

[JagLover]

Size Nine Elm said:

I've invested in an open plan garden. I would really like a self-managed pension fund, where you get the tax breaks for a pension, but can put the money into property yourself.

You can now I think.

[2 Smokin Barrels]

I think from 6/4/06 you can invest in an open plan garden within your pension.