I heard someone earlier say they now have to wait until they're 70 before their State Pension will start .
Is this affecting anyone on here I wondered ?
Is this affecting anyone on here I wondered ?
State Pensions
- Thread starter Evans Electric
- Start date
Help Support Talk Electrician Forum:
- Joined
- Nov 28, 2009
- Messages
- 14,767
- Reaction score
- 955
I thought it was going to be 68 before I am decrepit enough to receive it? but I am sure by the time I get close to that, the ladder will be pulled up just a little further.
Yet in just 3 years time I can now cash in my private pensions for cash if I want to.
Oh and I'm already receiving one (small) private pension.
What a crazy mixed up system we have.
Yet in just 3 years time I can now cash in my private pensions for cash if I want to.
Oh and I'm already receiving one (small) private pension.
What a crazy mixed up system we have.
I'll be 120 by the time I can get mine! If such a thing still exists.
:|
MIL had to work an extra 5 years
:|
MIL had to work an extra 5 years
I keep saying 'it'll be 70' by the time I retire....must be catching :^O
- Joined
- Nov 28, 2009
- Messages
- 14,767
- Reaction score
- 955
One thing is for sure, I am NOT waiting until state pension age to "retire"
And if you cash in all your pensions and spend the money on Lamborghini's and camel's you'd probably still be entitled to a state pension!Crazy indeed...
Last edited by a moderator:
Last letter I received said 67, so 8 years to go :innocent
- Joined
- Nov 28, 2009
- Messages
- 14,767
- Reaction score
- 955
I'm considering cashing in the one pension I have that's not final salary. I simply don't trust them to give a decent annuity rate, unless this change in the law gives them a kick up the aris to start offering decent annuity rates again. Otherwise the cash will come out and go into buy to let, not a lamborghini.
The age changes to the state pension should have been adjusted decades ago. We haven't suddenly started living longer!
septiclecky
Distinguished Member
Had a letter saying I don't get it till I'm 66
Well the only pension that I have at the moment is final salary,,,, unfortunately I've lost track of it having moved a couple of times, so thanks for the reminding me to chase it up
- Joined
- Nov 28, 2009
- Messages
- 14,767
- Reaction score
- 955
Yes Noz, chase it up and make sure they have your up do date address etc.
And whatever you do, don't cash in a final sallary pension.
And whatever you do, don't cash in a final sallary pension.
Is that going to be worth anything in another xx years (26 years till I'm 70
)They've probably already sold it out to some shysters
MoD pension should be safe
Dairyspark
Member
I'm 23 so god knows what age it'll be until I can retire haha and don't have a private pension
Dairyspark
Member
On apprentice wages with a young daughter so give me a year or so and a pensions will be sorted out
I wasn't trying to be sarcastic but you have youth on your side and time. Try and start a fund, put money in as often as you can and remember if you work for a company they have to provide you with a small percentage of your salary into a fund, so their contribution, yours and tax relief all starts to add up.On apprentice wages with a young daughter so give me a year or so and a pensions will be sorted out
Dairyspark
Member
It's ok Murdoch I know that I need to get one sorted but I'll still have time when im 25 and I don't like the idea of the whole private pension being invested to make more money Id rather just pay into a ISA
The advantage of paying into a pension is that if you are ever assessed by the DWP, a pension "pot" is not included in your savings whereas ISA savings are..... so if you have over £16K then your ability to claim some benefits is reduced or even not allowed.
