Pensions

I am also on a final salary scheme so don't really know how private pension pots work. I retired when I was 58 through choice and worked part time for a further three years. I rather enjoyed having weekends that were longer than my working week!!!

David 

I am also on a final salary scheme so don't really know how private pension pots work. I retired when I was 58 through choice and worked part time for a further three years. I rather enjoyed having weekends that were longer than my working week!!!

David 

I can't wait David. Every weekend a long weekend!

I will reach the age of 65 this Sunday but i have been on a very good ( final salary) company pension since i finished work on ill health in 1999.From Sunday i will also recieve my state pension but my company pension will be taxed accordingly which is rather annoying but thats how it is.The O/H is still in full employment

peter.

Congratulations for Sunday Peter and enjoy getting something back from the tax you have contributed....

I found it rather odd passing 65 years and realizing that we are now officially classed as an OAP by the goverment.  

Whatever the government choose to classify us as I certainly do not feel old just yet ( unless the dogs have taken me for a particularly long walk!)

I will reach the age of 65 this Sunday but i have been on a very good ( final salary) company pension since i finished work on ill health in 1999.From Sunday i will also recieve my state pension but my company pension will be taxed accordingly which is rather annoying but thats how it is.The O/H is still in full employment

peter.

Congratulations for Sunday Peter and enjoy getting something back from the tax you have contributed....

Thanks for that you know what they say "there are only two definate things in life death and taxes "

peter.

I am also on a final salary scheme so don't really know how private pension pots work. I retired when I was 58 through choice and worked part time for a further three years. I rather enjoyed having weekends that were longer than my working week!!!

David 

Its a great shame that almost all the final salary pension schemes have now closed.They were one of the best things about working for a large company that could afford too run one.I remember being told years ago when i was still working that for every pound i was putting into my pension the company were contributing another £14.Also after the Maxwell scandal our company pension scheme was run as an entirely seperate busniess from the company itself.That remains the case today and all the investment is managed by three major banks even though the original company is sadly now consigned too history.

peter.

I find it quite disgraceful that companies were allowed to simply end final salary pension schemes, with no consultation with employees. It was the equivalent of a massive cut in salary, over-night.

Those companies were perfectly happy to take a break from making their contributions to the pension funds during the good times (one of the main reasons for the huge shortfalls in many funds now) but we're very quick to renaige on their agreements when things went less good.

This is a scandal that they got away with simply because of most people's poor understanding of how pensions work. It was done with little proper explanation and in a very one-sided and under-hand way. It is a scandal far bigger, in my view, than the so-called PPI mis-selling and other bank related scandals.....

I will reach the age of 65 this Sunday but i have been on a very good ( final salary) company pension since i finished work on ill health in 1999.From Sunday i will also recieve my state pension but my company pension will be taxed accordingly which is rather annoying but thats how it is.The O/H is still in full employment

peter.

Congratulations for Sunday Peter and enjoy getting something back from the tax you have contributed....

Thanks for that you know what they say "there are only two definate things in life death and taxes "

peter.

and neither of them great........

Have to say that I was dead lucky in that I retired on a full pension at age 50, with a lump sum to boot. The sun has shone ever since. My shoulders are no longer bowed down with the weight of responsibility and the smile has returned to my face. Couldn't agree more IanH, it really is a disgrace that they could get away with it.