Pensions - do you have one?

Elessar

So the Citizens Assembly are talking about the challenges for an ageing population today - in particular about pensions. (You can watch it at http://live.citizensassembly.ie).

Some very interesting presentations so far. It got me thinking - how many people are preparing for retirement with a pension? From watching the presentations it's clear that retirement age will likely continue to increase as the years go on, and the state pension, while adequate for keeping you off the breadline, will not really provide any quality of life.

Another interesting point brought up is auto-enrollment - research has shown that even people who didn't think about pensions, stayed in one where they were auto-enrolled for many years. I think this is a great idea.

I have a company pension, only put in a small amount but anything is better than nothing - I hope to increase my contributions over the years. Personally I need to know that I am at least trying to provide for myself in my later years.

Jim Bob Scratcher

Honestly, I don't plan to live that long.

The J Stands for Jay

Yes.

In before people who claim to have lost everything on their pension.

ytpe2r5bxkn0c1

I always was determined to have a good pension plan and did so. I'm now almost 19 years retired and having a ball.

Winterlong

Didn't I answer this question on a thread last month? And the month before?

The Backwards Man

My advice is stay away from them. When I think of the amount of pints of Tennent's and cartons of Silk Cut Blue I've pissed away on a pension this past twenty years I cry a little, but it's too late for me now and I'm stuck with it.

Young people of Ireland, don't make the mistakes I made, spend your dough freely. By the time you're pension age we could all be dead, and if not, you can always go the neighbours for something to eat. I hear Srameen's not short of a pound.

fg1406

Yes because it's compulsory where I work.

sjb25

Yes I'm public service tho

CelticRambler

Made a decision a long time ago to stop paying into a "proper" pension and look for an alternative way to fund my retirement. I still get statements from that private pension fund and looking at its performance over the last fifteen, I glad I opted out. I anticipated the moving of the goalposts, and decided that there were only three things I'd really need for a comfortable retirement: food, warmth and shelter. So I have a house with no mortgage, a bit of woodland to supply my fire for at least thirty years and enough ground to grow fruit, veg and chickens.

As far as work is concerned, I'm already "semi retired". I work when and where I want to, as a temporary employee, tyring to keep it to under 30weeks a year. Some of my wages gets siphoned off into a bankrupt state pension fund, and I doubt I'll ever see any of it again, but as long as the rest of it ends up in my bank account, I'll carry on like that until I'm no longer fit to tie my shoelaces.

endacl

Have a lovely defined benefits package. Thanks taxpayers!

Pkiernan

Remember that if you are diligent and have a private pension the Left will take it from you and give it to cant-work-wont-work layabouts who are too bone idle to save their own.

McMurphy

Pkiernan wrote: »

Remember that if you are diligent and have a private pension the Left will take it from you and give it to cant-work-wont-work layabouts who are too bone idle to save their own.

Private pensions were raided and plundered a few years ago not by "the left" and certainly not because of any government policies brought about by "the left" either.

That's a messed up and confused post if ever I saw one.


http://m.independent.ie/business/personal-finance/pensions/outrage-over-plan-to-raid-workers-pensions-26729898.html

Dr Crayfish

I do have one, I should be able to retire in my 50s, in Spain, that's the plan anyway, f*ck this rainy kip!

Lia_lia

There seems to be a "do you have a pension" thread every second week! :pac:

Anyway, yes I have a pension. I put 5% of my wages every month into it and my employer matches it. I was only putting 2% into it until recently but thought it was silly to have such a small amount going in.

I'll probably raise it to 7% soon enough as I don't really notice it much. My employer matches it up to 7% and someone my age (under 30) can contribute up to 15% of their wages. Many of my colleagues don't have a pension and I often get told by them I am "too young" to have one which is ridiculous.

RayM

As long as I have enough money to develop a heroin habit when I'm in my 70s, I don't mind.

The J Stands for Jay

sjb25 wrote: »

Yes I'm public service tho

So you don't have a pension, you have a promise from today's government that future governments will give you all the tax your kids pay every month once you stop working.

KERSPLAT!

I've only just got health insurance, one step at a time! Really though, it's something I'll have sorted by the end of the year hopefully