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Private Pensions

5 posters

Are private pensions any good?

Private Pensions Vote_lcap60%Private Pensions Vote_rcap 60% [ 3 ]
Private Pensions Vote_lcap0%Private Pensions Vote_rcap 0% [ 0 ]
Private Pensions Vote_lcap40%Private Pensions Vote_rcap 40% [ 2 ]
Total Votes : 5


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1Private Pensions Empty Private Pensions Mon May 09 2016, 21:24

Leeds_Trotter


El Hadji Diouf
El Hadji Diouf

So I'm in a bit of a pickle regarding a private pension, are they worth it? Some people seem to think they are and others seem to think they are not.

I really don't know what to do or who to listen to. I thought to myself should I just pump my money into buying a few houses and use that for when I retire?

What does everyone else think? What are the positives and what are the negatives of private pensions?

2Private Pensions Empty Re: Private Pensions Mon May 09 2016, 21:27

Mr Magoo

Mr Magoo
Youri Djorkaeff
Youri Djorkaeff

pump your money into buying a few houses and use that for when I retire

3Private Pensions Empty Re: Private Pensions Mon May 09 2016, 21:32

Guest


Guest

Mr Magoo wrote:pump your money into buying a few houses and use that for when I retire

Why would LT want to give you his houses when you retire?

He'd be better off with a pension, surely?

4Private Pensions Empty Re: Private Pensions Tue May 10 2016, 07:35

wanderlust

wanderlust
Nat Lofthouse
Nat Lofthouse

It was worth it for me Leeds. I cashed in last year and stuck the dosh in a Unit Trust with a feeder account as part of a mixed asset portfolio so poor performance in one area can be offset by success in another and tax liability is minimised. However, the world is changing as my generation were led to believe we'd get an adequate  state pension if we worked and paid taxes for the best part of 50 years, so a lot of people didn't bother about it, but they moved the goal posts. I was expecting a state pension at 65 (wife at 60) but recent governments have started to change the entitlement date and it doesn't pay much so you need to have something else in your locker just in case there are no state pensions by the time you retire - which is a strong possibility. 

At your age I'd not be too worried about where I was making the money ATM and it's a good time to buy property with a report today saying house prices have dropped 8% in the last two months as Brits are worried about making large investments due to the economic uncertainty a Brexit vote would cause. If you are confident we are staying in Europe, now is the time to buy. If you think we'll leave, I have absolutely no idea what kind of investment would be safe and I'd hang fire for now as there's a chance that British bricks and mortar will plummet in value.

5Private Pensions Empty Re: Private Pensions Tue May 10 2016, 18:18

scottjames30

scottjames30
Nat Lofthouse
Nat Lofthouse

It's probably the best saving account out there.

6Private Pensions Empty Re: Private Pensions Tue May 10 2016, 21:30

gloswhite

gloswhite
Guðni Bergsson
Guðni Bergsson

I have a state pension now, and its nowhere near what we were promised when we started. Not only that, I have paid more into it than I'm getting back, and to add insult to injury, I will be getting less than the new 'one-for-all pension everyone else will be on. C'est la vie.
I would say spread your investment across the board, in different financial institutions. In that way, each will be covered by the regulators £75,000 currently offered. Take financial advice.
One thing we will never be short of is people, so look at housing, transport, power, food etc, but bear in mind that such things can be regulated when it becomes scarce.
Personally, I have little faith in any financial institution, as they are also prone to make the investor pay for any of their greed, and/or poor investments.

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