new pension rubbish!

[simonm]

Is it me or does anyone else think this new pension that has to be legally offered to employees that is topped up by employers just another excuse for the government crapping out on its duties to look after us in our old age!

This may sound harsh to some "why not look after your employees". I have 2 private pensions that i have being paying into since i left school 16 years ago now. Seems like another arse wiping episode on an employers half! It wasnt that long ago David Cameron slashed a lump off of employers ni contribution in an effort to get more people employed! now its another case of put your hand in your pocket again

[Steve Bullman]

The government can dip into private pension funds, perhaps they are just increasing their pot they can borrow from.

[eggsarascal]

Is it me or does anyone else think this new pension that has to be legally offered to employees that is topped up by employers just another excuse for the government crapping out on its duties to look after us in our old age!

This may sound harsh to some "why not look after your employees". I have 2 private pensions that i have being paying into since i left school 16 years ago now. Seems like another arse wiping episode on an employers half! It wasnt that long ago David Cameron slashed a lump off of employers ni contribution in an effort to get more people employed! now its another case of put your hand in your pocket again

 

You'll take it 'in ya ribs' which ever way ya turn.

[spudulike]

Everyone is living longer and many have no perception of what money they actually need in old age so ignore it until it is too late.

 

The fact everyone is living longer and the booming population means the government simply can't fund everyone's old age so something has to give.

 

A rough rule of thumb is £5k for every £100k of pension pot so work it out for yourself.

 

Pensions are best done over a long period and started as early as possible.

 

IMO the government has done the right thing in taking the pension and made it law rather than a life style choice!

[simonm]

Everyone is living longer and many have no perception of what money they actually need in old age so ignore it until it is too late.

 

The fact everyone is living longer and the booming population means the government simply can't fund everyone's old age so something has to give.

 

A rough rule of thumb is £5k for every £100k of pension pot so work it out for yourself.

 

Pensions are best done over a long period and started as early as possible.

 

IMO the government has done the right thing in taking the pension and made it law rather than a life style choice!

 

In other eastern European countries if you don't look after your own future financially then its tough! Too many people nowadays are unwilling to pay their own way through life and think its acceptable to rely on loans and bailouts! I have always being told if i want something i have to earn it myself, i don't want to be working when i am 70 so have took steps to try and ensure that i wont have to. I have friends with the same attitude who are willing to graft and do things off their own back to ensure a secure future for themselves. Seems ludicrous that some people need babysitting by the government!

[ballibeg]

We're all charged tax on our pension pots if they grow by more than £40k a year (pot growth + what you've paid in that year).

 

Then they tax your pension as income if you live long enough to get it at 67...or will it be 68 or 69.....

[simonm]

We're all charged tax on our pension pots if they grow by more than £40k a year (pot growth + what you've paid in that year).

 

Then they tax your pension as income if you live long enough to get it at 67...or will it be 68 or 69.....

 

Joke innit!

[eggsarascal]

Joke innit!

 

Make ya mind up!

[Mesterh]

Plus it makes employing someone less desirable, no doubt there will be more people working on zero hour contracts, having to go self employed or working for an agency etc

 

No good for employers or employees imo.

 

Best thing to do is have your own private pension or just spend your money have fun and hope you die before your broke!

[Paul Jenks]

The current pension provision is unsustainable. Because of the growing population and the longevity of the pension drawing population, todays taxes pay their pensions not a pension pot saved up and hoarded by any government.

The stakeholder system didn't work, so legislation has become a little more draconian. Everyone has to do it so it's still a level playing field for business. (Broadly)