Do you have a pension?

Drumpot · 03-10-2017 09:42AM

__..__ wrote: »

Nope. I have a very long term view of my investments thankyou.

Its more tax efficient and financially savy to save long term in a Pension. Having a long term view changes nothing on that point.

Creative83 · 03-10-2017 09:44AM

Dravokivich wrote: »

Can't afford to.

Have you spoken to your employer? A lot of employers match your contribution... could start off small... you put in 2% & they put in 2%... ask about their pension scheme if you haven't already

03-10-2017 09:44AM

Dravokivich wrote: »

Can't afford to.

Auto enrollmemt is comming you will not have a choice

NIMAN · 03-10-2017 09:44AM

Is it not now compulsory to have a pension set up?

hawkwind23 · 03-10-2017 09:45AM

Swanner wrote: »

Yes I do.

I don't rely on other people to support me now and I don't intend to rely on other people to support me when I retire.

Oh please F U C K off

The Bishop Basher · 03-10-2017 09:47AM

Deleted User wrote: »

What abject nonsense. This is one of the great delusions of rightwingers: the "self-made man". You'd have no roads, schools, hospitals or anything else unless there were loads of people supporting each other through taxation. Even your private hospitals depend upon people helping each other - unless you're rich enough to own a private hospital with consultants and surgeons at the ready just for you. Private healthcare, like private pensions, depend on a form of socialism operating between the community who pay it. You get sick, the rest of the people help you out, and vice versa.

And what do you think your state pension will come out of? Answer: the current taxation of a future generation. And if you have a private pension with one of those huge financial corporations, what are the odds of public money being used to prop that up come the next crash? Perhaps you haven't noticed the pattern of public wealth being used to bail out these supposedly "self-made" private corporations?

Pedantic much ?

It was pretty obvious what I meant..

The Bishop Basher · 03-10-2017 09:49AM

hawkwind23 wrote: »

Oh please F U C K off

Ooops..

Did I hit a nerve ?

Oh and no, I won't F U C K off..

hawkwind23 · 03-10-2017 09:50AM

Swanner wrote: »

Ooops..

Did I hit a nerve ?

Oh and no, I won't F U C K off..

No you wont , your type rarely do unfortunately.

Dravokivich · 03-10-2017 09:54AM

mini_Sapphire wrote: »

Have you spoken to your employer? A lot of employers match your contribution... could start off small... you put in 2% & they put in 2%... ask about their pension scheme if you haven't already

There is one. i still can't afford to. I'm going paycheck to paycheck.

mariaalice wrote: »

Auto enrollmemt is comming you will not have a choice

Then I'll be onto a community welfare officer looking for more than the FIS I already get, because I can't afford one.

VinLieger · 03-10-2017 09:55AM

NIMAN wrote: »

Is it not now compulsory to have a pension set up?

Nope, i really think you are confused between the state pension and private pension schemes

The Bishop Basher · 03-10-2017 09:59AM

hawkwind23 wrote: »

No you wont , your type rarely do unfortunately.

Not sure what "my type" is but you seem very angry..

It's bad for your health..

You really should try and calm down

__..__ · 03-10-2017 10:28AM

Drumpot wrote: »

Its more tax efficient and financially savy to save long term in a Pension. Having a long term view changes nothing on that point.

Not for me it's not.
And I consider myself very financially savy as well if you don't mind.

sbsquarepants · 03-10-2017 10:39AM

mariaalice wrote: »

Auto enrollmemt is comming you will not have a choice

AFAIK auto enrolment will still have an opt out, the only difference is you will by default be put into the scheme and actually have to opt out should you want to. That's the way it works in any of the other examples I've seen anyway.

razorblunt · 03-10-2017 10:46AM

I save quite aggressively into mine, which in turn is helped by my employer matching.
It would be just my luck that I'll pop my clogs early and never get to retire with it, but at least the family will get it.
I'm retiring at 60 too, that's the plan. Just another 28 years to go!

Pac1Man · 03-10-2017 10:47AM

Haven't saved a cent. My fondness for chickpeas has grown lately so I'd say the state pension will do me.

sbsquarepants · 03-10-2017 10:55AM

They are delicious alright, especially if you cook them in the ham water - don't get used to that though, no ham for you on the state pension I'm afraid:eek:

buck65 · 03-10-2017 10:55AM

__..__ wrote: »

I invest elsewhere where I have full the control.
I can also reallocate when I see the need.
I'll be ok without locking my money away where I can't touch it, but worse, someone else can. thanks.

Is it as tax beneficial though on withdrawal??

rustynutz · 03-10-2017 10:58AM

Swanner wrote: »

Yes I do.

I don't rely on other people to support me now and I don't intend to rely on other people to support me when I retire.

Your prsi contribution throughout your 45 odd years working is supposed to fund the state pension, not exactly other people supporting you

buck65 · 03-10-2017 10:58AM

sbsquarepants wrote: »

They call those things pyramid schemes don't they.
Certainly is worrying - they tend to all end the same way!

Are you two guys for real?

srsly78 · 03-10-2017 11:00AM

rustynutz wrote: »

Your prsi contribution throughout your 45 odd years working is supposed to fund the state pension, not exactly other people supporting you

Most people pay basically zero prsi, how is that supposed to fund their state pension? Also people that don't even make this basic contribution get a non-contributory pension state pension.

BillyBobBS · 03-10-2017 11:19AM

Agent Smith wrote: »

People relying on just the state pension?

I know. God darn those poor people.

BillyBobBS · 03-10-2017 11:21AM

rustynutz wrote: »

Your prsi contribution throughout your 45 odd years working is supposed to fund the state pension, not exactly other people supporting you

Of course you are right. The state pension is an entitlement for anyone who's paid in PRSI contributions all their working life.

BillyBobBS · 03-10-2017 11:29AM

mariaalice wrote: »

Auto enrollmemt is comming you will not have a choice

Opt out

The Bishop Basher · 03-10-2017 11:30AM

rustynutz wrote: »

Your prsi contribution throughout your 45 odd years working is supposed to fund the state pension, not exactly other people supporting you

They're supposed to but they won't.

__..__ · 03-10-2017 11:41AM

buck65 wrote: »

Is it as tax beneficial though on withdrawal??

I'll let you know if I ever have to cash in.

VinLieger · 03-10-2017 11:43AM

rustynutz wrote: »

Your prsi contribution throughout your 45 odd years working is supposed to fund the state pension, not exactly other people supporting you

BillyBobBS wrote: »

Of course you are right. The state pension is an entitlement for anyone who's paid in PRSI contributions all their working life.

Awww thats cute, you do know the contributions you pay to the state pension today are given out to a retired person collecting their pension tomorrow don't you? Its not an investment in the way you are suggesting it is or anywhere near as protected as a private pension scheme. So actually it is other people supporting you.

Right now it works cus we have 6 workers for every 1 retired person, by 2040 that will be down to 2 workers for every 1 retired person, the current system will not work in that scenario and like it or not there is no way to fix it and keep the current system and payouts as the only viable solution for that was for people to start having more kids instead of less 10-20 years ago

__..__ · 03-10-2017 11:45AM

VinLieger wrote: »

Awww thats cute, you do know the contributions you pay to the state pension today are given out to a retired person collecting their pension tomorrow don't you? Its not an investment in the way you are suggesting it is or anywhere near as protected as a private pension scheme. So actually it is other people supporting you.

Right now it works cus we have 6 workers for every retired person, by 2040 that will be down to 2 workers for every retired person, the current system will not work in that scenario and like it or not there is no way to fix it and keep the current system and payouts as the only viable solution for that was for people to start having more kids instead of less 10-20 years ago

"Protected" and "private pension scheme" should not be in the same sentence.

VinLieger · 03-10-2017 11:47AM

__..__ wrote: »

"Protected" and "private pension scheme" should not be in the same sentence.

I agree i was making the point the a private pension is still far more protected than the state pension though and that's something people need to know

Hector Bellend · 03-10-2017 11:49AM

I prefer ****

mark_jmc · 03-10-2017 12:11PM

I do have a pension but I'm playing catch up as I didn't start mine till I was 35. I'm 39 now and in the very fortunate position of having my employer pay 19% of my salary into my pension and I am currently paying 15%. I'm going to keep this going for as long as I can afford. I'm hoping to retire at 60. The past few years have taught me that life is too valuable to spend working till old age

Do you have a pension?

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