Poor Lettie - working until she's 65 - Page 2

Margaret Pilkington · 12-01-2005, 19:58

I have two small pension plans which will mature in two years.......I have been paying into them for about 20 years.......when they pay out I will spend a bit and save a bit.
It is all about having a bit of foresight.

vorlon24 · 13-01-2005, 08:34

Did you know that a fifth of your pension fund is made in the first five years - that's 20%, and seems much more looking at it that way.

And if any of you like to put money away for your grandchildren, what better way than to put it in a stakeholder for them. The government put in an additional 22%, and it is probably one of the better/most effective ways to save for their future, even if it is a long long way away.

They'll thank you for it eventually

park381 · 13-01-2005, 08:57

Hi
I retired Christmas 2003, after 25 years with Local Authority, get paid their pension, which I pay tax on, and in 12 months time its the state pension(with no reductions)

So Lettie don't work till you are 65, I can recommend retirement

vorlon24 · 13-01-2005, 09:11

The Local Authority pensions are pretty good, as they are based on your final salary at retirement.

I can see the government are trying to cut costs by changing the terms of the Civil Service pension.

They're just a load of tight 'people with questionable parentage'

Darby · 13-01-2005, 10:11

Quote:

Originally Posted by park381

Hi
I retired Christmas 2003, after 25 years with Local Authority, get paid their pension, which I pay tax on, and in 12 months time its the state pension(with no reductions)

So Lettie don't work till you are 65, I can recommend retirement

You will get a full OAP but you will pay more tax on your existing LA pension. The bug***s claw it back before you can get your hands on it!!

Margaret Pilkington · 13-01-2005, 19:15

I can recommend it too Lettie!