# Pensions



## mistryn (May 17, 2007)

Can anyone give me a pointer where to start?
I have no idea where to begin, company pension (i think my company does one) or a private one??

im 25 and thought its time i sorted this out as i dont want to come to retirement age (long way off i know :lol and have next to nothing


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## kirkn99 (Aug 23, 2006)

Lots of info out there on the internet but often they are trying to sell you something. Take a look at sites like motley fool / money saving expert and even bbc for some info.

In general company schemes include a contribution from your employer so free money although you would be lucky if you could still join a final salary scheme these days


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## The Cueball (Feb 8, 2007)

from 2016 all companies regardless of size must offer their employees a pension scheme.....this reform actually starts in 2012, but is in stages, so only the really big companies go first....

there is a minimum compulsory amount of 3% that they must give...

At least 8% of your salary must be paid into this, although 1% is via tax relief...

So, if your company does the minimum 3%, you get tax relief of 1% then you need to find 4% from your wages...

:thumb:


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## PrettyPaula (Sep 19, 2011)

give a little more detail about what the company pension looks like?

i AM lucky enough to have been paying into a final salary pension for the last 5 years, this pension is no longer available to people joining my company.

i intend to stay until i retire for this very simple fact.


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## mistryn (May 17, 2007)

thanks, i will make some enquires at work to get some more detail about the company scheme


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## PrettyPaula (Sep 19, 2011)

my husband is looking for a pension as his company dont offer one at the moment.... if i find anythig good i will let you know


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## The Cueball (Feb 8, 2007)

I don't have a pension per say.... but I do have an amount going into certain stocks and shares....after lots and lots of research, I went with this company and a few different funds to (hopefully) limit any losses...

http://www.mandg.co.uk/Consumer/Home/?ito=1790

a pension is a really long term thing, but I always tell people not to get too hung about about it as the end of the day you have NO control over the final value.....

just ask the thousands of people that have retired over the last few years in the UK...their pot has shrunk quite dramatically in some cases....all just bad timing!! :wall:

the USA is in the same boat...people are now working much longer(age wise) or even went back to work because their 401k pension pot has been reduced to almost nothing...


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## justina3 (Jan 11, 2008)

I am the same as cueball and would rather not leave my retirement plans in the hand of some instate I don’t know or have any control over. 

Property is going to be my finial pension.


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## PrettyPaula (Sep 19, 2011)

justina3 said:


> I am the same as cueball and would rather not leave my retirement plans in the hand of some instate I don't know or have any control over.
> 
> Property is going to be my finial pension.


i intend to have a large property portfolio to


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## justina3 (Jan 11, 2008)

PrettyPaula said:


> i intend to have a large property portfolio to


great minds think alike :thumb:

I havent been working towardsa massive portfolio six is my max not including my home and overseas crash pad, I find anymore than six and it becomes a full time job keeping on top of them which isnt what i wanted from them so I used to have 9 but narrowed it down to 6 which is workable.


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## The Cueball (Feb 8, 2007)

Only issue I have with properties, apart from the decades of worry about tenants etc...is that you have to be careful to "retire" during a boom year...and not get greedy about saying, well 1 more year won't hurt...

If you get this wrong and hit a bust, then it could take a long time to recover...

I also had a few flats/houses, but I just could not be bothered with all the hassle...nor paying out for "experts" to rent it out and maintain it....

:thumb:


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## PrettyPaula (Sep 19, 2011)

justina3 said:


> great minds think alike :thumb:
> 
> I havent been working towardsa massive portfolio six is my max not including my home and overseas crash pad, I find anymore than six and it becomes a full time job keeping on top of them which isnt what i wanted from them so I used to have 9 but narrowed it down to 6 which is workable.


the plan is for me to acquire approx 10 properties over then next 15 years, once it gets heavy hubby is going to quit work and run the properties full time (his job pays much less than me)

i retire early, freeze my pension until retirement age and we see how it goes, meanwhile im going to build up a shares and stocks portfolio through my dads financial advisor.

ive got a frozen pension from a local authority that i need to get released and given to him so he can start investing it for me


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## justina3 (Jan 11, 2008)

The Cueball said:


> Only issue I have with properties, apart from the decades of worry about tenants etc...is that you have to be careful to "retire" during a boom year...and not get greedy about saying, well 1 more year won't hurt...
> 
> If you get this wrong and hit a bust, then it could take a long time to recover...
> 
> ...


I hear what your saying mate and seen a few friends get burnt badly during the last couple of months of the boom when finance was being thrown at you I could see them couple more flats wont hurt boom now there dead weight around there necks.

I have a slightly different plan of attack as I don't intend to sell any of them at any point out of the six I have remaining 2 are mortgage free another 2 become mortgage free within 5 years the other 4 within 10 years so I will continue to rent them out and live of the rental income hopefully passing them to my children when I am pushing up daisy's

I know what your saying about nightmare tenants which is why I only ever bought very close to me ie walking distance so I pass them daily to get my daily paper I find this helps me keeping in the tenants face which helps them and me (if there decent tenants) and touch wood they all have been to date.


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## Maggi200 (Aug 21, 2009)

That's 8 properties not 6


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## The Cueball (Feb 8, 2007)

justina3 said:


> I hear what your saying mate and seen a few friends get burnt badly during the last couple of months of the boom when finance was being thrown at you I could see them couple more flats wont hurt boom now there dead weight around there necks.
> 
> I have a slightly different plan of attack as I don't intend to sell any of them at any point out of the six I have remaining 2 are mortgage free another 2 become mortgage free within 5 years the other 4 within 10 years so I will continue to rent them out and live of the rental income hopefully passing them to my children when I am pushing up daisy's
> 
> I know what your saying about nightmare tenants which is why I only ever bought very close to me ie walking distance so I pass them daily to get my daily paper I find this helps me keeping in the tenants face which helps them and me (if there decent tenants) and touch wood they all have been to date.


Sounds good...if it works for you then keep doing it!

:thumb:


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## Gruffs (Dec 10, 2007)

Pensions......................................

Designed to make someone else money.

We just transfer everything over the internet we have left over after savings (i.e. unspent current account money) into an account that we can only access by actually going into the branch of the bank (that isn't in our town and we don't have any other accounts with). It therefore gets forgotten about until we get a statement through the post.


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