Are you still paying into a Pension?

[N10k]

Are you still paying into your pension or have you stopped since the big credit crunch hit!
im still paying #150 into mine

[Digga]

Yes, begrudgingly, even though most research tends to suggest the greedy theiving bds who manage the fund will squander most of the 40% tax advantage over the life of the fund.

[kambites]

I'm paying in exactly the same amount I was before. Haven't had any reason to change.

[shirt]

yep. company scheme so i have no choice. i am actually paying more than i was last tax year [an extra 1%], but the company have increased their contribution more by 3% so can't complain.

[Mr E]

Yup.

[Maxf]

No. I'm sticking the extra into savings instead. I know now is a good time to pile into the pension, but having 6 plus months 'salary' in the bank is more important to me today.


ETA, company is still paying in for me, but I'm no longer topping it up.

Edited by Maxf on Wednesday 7th January 13:22

[ukwill]

Yes of course - it's possibly the best time to be paying into one. You wont get better value for your money than what we are experiencing. You'd be mad to stop now.

[RJE1966]

Yes and I console myself with only one thought, that at the moment each pound buys a lot more units in the fund than it did twelve months ago to be invested for a further 23 years before I hit 65.

[martinmac]

till paying in and my employer has just been caned for a top up. Final salary scheme and just about keeping its head above water.

[merc_man]

Yes, still putting in £650 per month. Shocking performance last year when it would have been better invested as mattress stuffing but, as has been said, you can buy a lot of units for your pound at the moment.

[130R]

No and I never have.

[RJE1966]

130R said:

No and I never have.

Sorry to go off topic...but that photo on your profile has made me spill my tea laughing....brilliant!

[village idiot]

i'm one of the few people i know not to have lost a penny of pensions, shares or investments (stepping conviniently aside from property of course!)...

...how did i manage it?

...by not having any!

[Tony 1234]

Age 63, so I converted mine into cash from property 7 months ago after the first month fall in value.

I think you are just throwing money down the drain keeping up a pension plan, whatever you put in it will be lost at least for the next 2 years, best to put it on hold IMHO

But what do I know!

Tony

[madala]

....never had one....never wanted one.....

[Asterix]

Nope - never have. Mainly because I couldn't really afford anything until relatively recently.

I now, thanks to a missus who takes it all very seriously, is making sure that we have well sorted savings and investment plans. I take care of the day to day running of everything and save what is left and her salary and bonuses are simply saved leaving out a small amount of petty cash.

What has surprised me is that when you actualy make a commitment to it - you can save quiet a bit in a short space of time. We certainly are not skimping on anything but ensuring that what is left over (in my case) is put away - I do have a habit of buying stuff for the hell of it.

[plasticpig]

I stopped paying into a pension 4 years ago on the basis that it was worth less than I had paid in. I now do my on investments. 18.5% return last year which is better than the -12% the pension company managed.

[ukwill]

Tony 1234 said:

Age 63, so I converted mine into cash from property 7 months ago after the first month fall in value.

I think you are just throwing money down the drain keeping up a pension plan, whatever you put in it will be lost at least for the next 2 years, best to put it on hold IMHO

But what do I know!

Tony

It won't be "lost" - you'll still have units invested. The stock your units are tied to may well drop further (although many analysts reckon the floor has been hit in a number of sectors/or as close to), but you still own those units. When stock rises again you will be in good shape.

You did the right thing because you are at the age to cash in your pension.

[sjg]

Have been for the last year or so since the company was bought and we went on the parent company's scheme - pay in up to 6%, company pays 8%.

If your financial cutbacks have to extend to dropping pension contributions, something is badly wrong with your finances to start with.

[GreatGranny]

Been in the company pension since starting in 2001.

Company now pays all contributions of 12%.

I used to pay 5%, company 7%.

No need to stop for me