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i put in 5% of my earnings and my employers match that with another 5%.
Never going to get one.
7%, 7% looks like a pair of Elton John's glasses
budget good. keyboard skills shite
but the benefits are pretty good if I stick with it (career-average defined benefit thing)
you mean you invest £80 a month?
But this is fucking boring and I hate it
no matter what i do with my life, when i come to retire i'll really regret that i quit my final-salary scheme in 2009.
it's worth about £8/month. sometimes they send me letters telling me this.
I'd made the decision to go to university starting in 2011 so it seemed pointless to continue paying into it.
I think the idea was to use the contributions (which were like £150pm) to pay off my credit card and save money for when I was a student and ahahahah as if either of those things happened
they pay 16%
kicked in when I finished paying my student loan off so dont notice it going out that much either :)
I pay 7.5%.
They pay 16%.
this is like the car insurance thread of last week
A NEW LOW
They're not very efficient.
at least stick it in a sipp or something.
Actually no, I'll just fight you. IGNORE PO PENSIONS ARE GREAT.
Total bait laying, totally worked.
(I SIPP wrapper everything at the moment. I don't qualify yet for contribution pension in my new place, I don't think.)
I was breathing into a paper bag for a minute there.
they're also not super risky, and they require minimal management on the receiver's end.
be quick, I'm hovering over the 'buy now' option on the bitcoin website
more risk = more reward. government bonds are as risk-free as you can get, but also have the lowest returns. shares usually perform best over the long-term but carry a fair amount of risk. property is always a good investment and there are indirect ways to do it via REITs and property funds but they can be quite pricey to buy into.
the best way to do it is to balance different kinds of investments. you'd want a portfolio of differing assets that have a negative correlation, ie they aren't all affected by the same outside factors so won't all move in unison.
i'm doing an exam on this tomorrow. weeeeeeee!
but its *so* boring
every Wednesday for three long, cold, dark months
all of it. I'll look after it (actually, give it to kitchmo, he's pretty good.)
I no longer have a pension fwiw...
your boss pays in too.
have you/will you be opting out of auto-enrollment?
before anyone gets the idea I'm super-sorted, this is purely because the company I work for arranges it for me.
10%? 16%? Paid by your employer? Fucking lovely I say
Mine? I pay about 15% of my yearly turnover into a pension, plus I have an old one with my previous employer which is now just setting there earning fuck all
it could be 6% : 6% but i've lowered it to 3% : 3% for the time being as I need the reddies now
I'll be honest though; the fund is managed brilliantly. Probably the best of any comparible fund. Hear the people who do so are top of their game and really good looking too. Probably deserve more cash.
I assume my employer is paying something in too, but I don't know how much. I guess I should find out.
In my last job I had 10% non-contributory. That was brilliant.
your conts will be between 1.5% and 3.5% with your employer cont going to the main scheme.
I think I opted out of a pension until I'd paid back my student loan with my first job. All depends on how much you earn
and still paying into a pension. I should probably put it on hold, really.
You've reminded me that I should start making some contribution myself, which I meant to start 3 years ago. Thanks chris-budget
There aren't any left any more are there? Cost employers too much?
When we've moved into our house I'll have enough money to be able to start one and also pay off the student loans I'm still working through.
I think I'll have to look at something like 17% of my earnings, which is pretty scary at the moment, but should hopefully get easier as the mortgage is paid off over time.
how should i invest the stacks of cash i have leftover each month?
A deposit for a house and a nest egg are two very different things.
I AM NOT A REGISTERED FINANCIAL ADVISOR, THIS IS NOT FINANCIAL ADVICE, THE VALUE OF INVESTMENTS CAN GO UP AS WELL AS DOWN, PAST PERFORMANCE IS NOT AN INDICATOR OF FUTURE PERFORMANCE, PLEASE GOD READ THIS LAWYERS.
It depends what you’re saving for, how much your saving, your age, and lots of other variables. But really it is all about how much risk you’re willing to take on. Like Guntrip says *generally* more risk will = more potential reward.
If you’re looking to top up your pension, and you’re relatively young, then a low fee FTSE tracker will do a perfectly good job. If you’re happy to lock it up for 3-5 years then do so – the fees will be lower and you can just forget about it. And stock indices will always go in one direction over a long enough maturity rate,
If you just want some market exposure for your savings; pick a few stocks that you know something about and buy them, and hold them. Just don’t shit yourself every time there is market noise.
But again it is all about what you aer savinf for. Feel free to pm me if it is something you're seriously considering.
I will invest in BAE Systems and British American Tobacco
Don't let me down!
this is how Madoff got started, isn't it
Bank of Credit and Commerce International
this will go up to 6% and 12% in March
I was paying shite% and I was getting employer shite% too.
and I worked in pensions for a while...
My current plan is to invest in whisky. Any whisky that increases in value gets sold, the rest gets drunk until I get cirrhosis of the important bits.
I pay in, employer pays in. Can't remember the numbers - I'm going to guess 6%/6%.
The thing is though, I know that it probably makes sense to have one (hence why I do), but I absolutely cannot get my head around the idea of saving for 40 years. Just cannot comprehend it. It's like trying to understand French participles or something. I may as well be saving up for my next life for all the relevance it feels like it has.
I'll be retired when I get the money. RETIRED. My life will be in the twilight years. I may not even get there! I'm a fairly patient person, but even I find myself discounting the future value of my savings to basically zero that far into the future.
don't have any savings (don't know how do people do that)
with www.spfo.org which tells me I'm contributing 5.9% of my gross salary of 25k, which works out at £113 per four-weekly pay packet. Apparently my employer tops this up to at least 19.3% of my pay (so 13.4%). Payout is allegedly final pay divided by 60. Need to get round to getting MsWza added to it in case of death.
GOLD-PLATED PUBLIC SERVICE PENSIONS.
Can't help but think the dosh would be better invested in becoming a slum landlord.
...as 'becoming a landlord' tbh tbf.
If I retired now, I'd have a cool £3,746 annual pension, plus an £11,237 lump sum.
Prettttttty sweet. Worth quitting and spending the £11,237 on lottery tickets?
if i retire at 65. :''''''''''(
I hope I used 'in real terms' correctly there.
Everybody get a pension. Incvestment professionals have children to feed.
I'll cash in those beauties when Im older.