Interesting and thought provoking points re pension.
I was a public servant for 34 years, so, initially, had to contribute to a FS Pension, which I continued. Due to Govt cutbacks I was offered VR at age 57, now 61, I saw the figures and it was a no brainer as I had a separate training business as well.
So I took the money and run! I now work on average 6 days a month running training courses, and earn slightly more now, with my pension, than I did working full time. So, yes, things worked out fine for me, although when I started working in the water industry in 1981, I had no idea what a FP scheme was!
I contributed 6% a month into the scheme, so not too onerous, in fact you never really miss it.
However, I do see the point about everyone paying more NI and retiring earlier than 66/67. But can you trust the Government?
But here is the sting, the only people who moan about FS pensions............Don’t have them! 😉
Well Mike, thankfully I do have a FS pension from one of my previous jobs, and even though I was only at that firm for 10 years during the 80’s and 90’s I can’t complain at what the monthly payments to me are.
More pensions than old Nick. Mostly paid up. One stagnant one I recently changed to drawdown & play with the investments myself. Made more in 8 months than it's made in last 5 years but it could all go tomorrow!
I assume I'll get very little so started an easy to run small, online business in my spare time that will keep things topped up after I retire from full time work. Mrs has a FS.
Quote: Originally posted by Francais on 20/8/2019
Well Mike, thankfully I do have a FS pension from one of my previous jobs, and even though I was only at that firm for 10 years during the 80’s and 90’s I can’t complain at what the monthly payments to me are.
Still not talking to you after what you said on another post.........That hurt! 😳😳😉
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