Government Pension Scheme

You'd be much better off paying into a pension as your employer will contribute as well. So rather than just your 3% your employer will at least match it so there will be 6%. I work for one of the biggest payroll companies in the world.
 
im going to have to see what they say in this meeting and then sit down and go through it all... cheers for the help folks :35:
 
My pension is now with the pension protection fund along with 15 billion quid of other poor bastards collapsed pension funds .
31 years up the swanny
 
Villan57 - 12/2/2014 12:53

My pension is now with the pension protection fund along with 15 billion quid of other poor bastards collapsed pension funds .
31 years up the swanny
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this is why I want to put it into an account
 
Terrible stuff 57.

My dad got shafted with his pension after decades of service as well. So cruel.
 
Barney2004 - 12/2/2014 12:56

Villan57 - 12/2/2014 12:53

My pension is now with the pension protection fund along with 15 billion quid of other poor bastards collapsed pension funds .
31 years up the swanny
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this is why I want to put it into an account
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Just so it's clear, these are completely different schemes. The only thing they have in common is the word pension. The new scheme will be yours, Barney. 57's was owned by Trustees, and in many cases these Trustees cocked up.

As you say, go to the meeting and have a look. :35:
 
HeathfieldRoad1874 - 12/2/2014 12:15

Barney - get the pension mate. You get some of you tax back into it so you don't pay the full 3%, and your employer will have to pay into it as well. You won't get either of these unless you pay the 3%, and it is worth it. If you die, you nominate someone to get the whole fund.

PM me if you need any details on a more personal level.
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And I'll PM you to give you my details as the nominated beneficiary. :17:

 
Villan Of The North - 12/2/2014 14:08

HeathfieldRoad1874 - 12/2/2014 12:15

Barney - get the pension mate. You get some of you tax back into it so you don't pay the full 3%, and your employer will have to pay into it as well. You won't get either of these unless you pay the 3%, and it is worth it. If you die, you nominate someone to get the whole fund.

PM me if you need any details on a more personal level.
Click to expand...

And I'll PM you to give you my details as the nominated beneficiary. :17:
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:5: :17: :18:
 
Everybody's different and I don't know the details of this govt scheme. But I wouldn't trust the govt to look after my cat whilst I went on holiday. How long is it until you retire? Think of how many shit house thieving govts there will have been by that point. They can change the rules at will.



 
that's half of my worry mate. Im 31 at the moment and by the time I retire, who knows what could happen or what rules would have been bought it... or what my money would be funding.
 
You are thinking of state pensions i.e. National insurance contributions which are owned by the govt. Also the auto-enrolment scheme has been implemented by the Govt they do not have access to your money as there are pension providers who do this.
 
blackwood_villa - 12/2/2014 15:04

You are thinking of state pensions i.e. National insurance contributions which are owned by the govt. Also the auto-enrolment scheme has been implemented by the Govt they do not have access to your money as there are pension providers who do this.
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Hmm, Just had a look at it. On the face of it it doesn't look too bad and it all depends on your situation.

I would get some independent advice on it as others have said.

 
Bikini Inspector - 12/2/2014 15:12

blackwood_villa - 12/2/2014 15:04

You are thinking of state pensions i.e. National insurance contributions which are owned by the govt. Also the auto-enrolment scheme has been implemented by the Govt they do not have access to your money as there are pension providers who do this.
Click to expand...

Hmm, Just had a look at it. On the face of it it doesn't look too bad and it all depends on your situation.

But I still don't like it. I would much rather do my own thing when it comes to my money. I don't like the auto enrollment at all.

There is a catch somewhere in there, I would get some independent advice on it though.
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You can by all means pay in to a private pension outisde of work but then your employer will not contribute as well, meaning that you will miss out on the extra ££'s.
 
blackwood_villa - 12/2/2014 15:16

Bikini Inspector - 12/2/2014 15:12

blackwood_villa - 12/2/2014 15:04

You are thinking of state pensions i.e. National insurance contributions which are owned by the govt. Also the auto-enrolment scheme has been implemented by the Govt they do not have access to your money as there are pension providers who do this.
Click to expand...

Hmm, Just had a look at it. On the face of it it doesn't look too bad and it all depends on your situation.

But I still don't like it. I would much rather do my own thing when it comes to my money. I don't like the auto enrollment at all.

There is a catch somewhere in there, I would get some independent advice on it though.
Click to expand...

You can by all means pay in to a private pension outisde of work but then your employer will not contribute as well, meaning that you will miss out on the extra ££'s.
Click to expand...

I'm self employed.

You are quite right though, This pension scheme is not what I thought it was, it might suit some people.
 
Bikini Inspector - 12/2/2014 15:24

blackwood_villa - 12/2/2014 15:16

Bikini Inspector - 12/2/2014 15:12

blackwood_villa - 12/2/2014 15:04

You are thinking of state pensions i.e. National insurance contributions which are owned by the govt. Also the auto-enrolment scheme has been implemented by the Govt they do not have access to your money as there are pension providers who do this.
Click to expand...

Hmm, Just had a look at it. On the face of it it doesn't look too bad and it all depends on your situation.

But I still don't like it. I would much rather do my own thing when it comes to my money. I don't like the auto enrollment at all.

There is a catch somewhere in there, I would get some independent advice on it though.
Click to expand...

You can by all means pay in to a private pension outisde of work but then your employer will not contribute as well, meaning that you will miss out on the extra ££'s.
Click to expand...

I'm self employed.

You are quite right though, This pension scheme is not what I thought it was, it might suit some people.
Click to expand...

haha as you are self employed you can just put in double then!!

Yeah it is a good idea.
 
Staarted a thread on this a while back but cant find it.

I pay 1% into it and my workplace matches it.

is it worth doing or not?
 
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