blebo
Member
Registered: 18th Apr 02
User status: Offline
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I can't get my head around whats best for the wifey.
Basically I've got nothing to worry about. As you know I am a Police Officer and as such will retire on full pension at 49. Currenlty the pensions is a lump sum of £100,000 and a pension of £15,000 a year.
With this in mind I want the missus to basically retire at the same time. Therefore from my reading of the pension rules etc any money that she pays into a pension whe will not be able to touch until she is 55 - 65 years old and even then whe will then be drip fed the money back.
Would I be better therefore putting her money into an ISA for the next few years. Basically if we put £200 a month into a savings account, by the time we are 49 at a growth of 5% AER it will be worth £85,000. Which we will still be making intrest on and will have accress to instantly.
Am I simplifing this to much or is there any other salient points that I am overlooking.
I know there are pension - savings folk that use the site so looking for some guidance 
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willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
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we will be lucky if theres any pension money left when we hit 50.
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cunningham
Member
Registered: 25th May 05
Location: Lochore, Fife
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isa everytime imo
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Half Pint
Member
Registered: 25th Mar 02
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it depends on her pension as a long term investment and how the money is invested, mypension works on the basis that i contribute along with my company.... and they invest this in a number of ways to hopefully grow and make a return, however most of this is linked to the stock market.
what you need to calculate is how her pension will grow over the next x number of years vs the ISA.
just don't rely on a state pension as no such option will exist, i think the fiunal salary pension scheme for all civil servants will be in a shit state if you listen to cameron....
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Eck
Premium Member
Registered: 17th Apr 06
Location: Lundin Links, Fife
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I'd definitley go for an ISA.
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Hammer
Member
Registered: 11th Feb 04
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I'm not going to help you as you charged my good mate Eck 
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cunningham
Member
Registered: 25th May 05
Location: Lochore, Fife
User status: Offline
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if state pension doesnt exist what about all those other people who have never had a job plenty of them or never put into a pension
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Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
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quote:
Originally posted by cunningham
what about all those other people who have never had a job
Then they deserve fuck all anyway.
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Robbo
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Registered: 6th Aug 02
Location: London
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Be VERY surprised if a policeman gets a pension fo lump sum £100k and £15k a year in 30 odd years  SHould hope not too, ridiculous amoutn of money for a fkn policeman
as for your qn, pension is still your best bet esp if its a company one as the company will contribute
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Robbo
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Registered: 6th Aug 02
Location: London
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quote:
Originally posted by Cosmo
quote:
Originally posted by cunningham
what about all those other people who have never had a job
Then they deserve fuck all anyway.
i woudl ahve worded it nicer but yeah, basically
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Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
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quote:
Originally posted by Robbo
quote:
Originally posted by Cosmo
quote:
Originally posted by cunningham
what about all those other people who have never had a job
Then they deserve fuck all anyway.
i woudl ahve worded it nicer but yeah, basically
tbh that was me wording it nicely
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Eck
Premium Member
Registered: 17th Apr 06
Location: Lundin Links, Fife
User status: Offline
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quote:
Originally posted by Hammer
I'm not going to help you as you charged my good mate Eck
LMAO
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Half Pint
Member
Registered: 25th Mar 02
User status: Offline
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quote:
Originally posted by cunningham
if state pension doesnt exist what about all those other people who have never had a job plenty of them or never put into a pension
what half of scotland....
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John
Member
Registered: 30th Jun 03
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Nice way to offend a lot of the site, even if it was half of Scotland that's nowhere close to the amount of people in the same situation in England.
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Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
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quote:
Originally posted by John
Nice way to offend a lot of the site, even if it was half of Scotland that's nowhere close to the amount of people in the same situation in England.
I know, a lot of you skirt wears moving down here 
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t_benn_1
Member
Registered: 28th Sep 04
Location: Shropshire
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I'd go and ask at bank mate.
When i went if i paid in 150 ish a month when i was 60 i could retire with a lump some 80k and then get 50% of what my expected final salary would be.
I'm 21
and earn 21k
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Ojc
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Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
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Put it under your matress and hope your house doesn't catch fire.
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Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
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quote:
Originally posted by Ojc
Put it under your matress and hope your house doesn't catch fire.
Make sure you only keep it in coins and you might even be ok if it catches fire 
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cunningham
Member
Registered: 25th May 05
Location: Lochore, Fife
User status: Offline
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there has to be a state pension tbh
for unemployed
people who never put to pensions
folk who put to pensions but lost there cash through no fault of there own
i dont plan on living that long and if i do i can easily live on state pension
we are all paying towards folks state pensions that now why shouldnt we get one ourselfs
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Ojc
Member
Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
User status: Offline
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We will all be dead soon anyway when Israel starts firing nukes at everyone.
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cunningham
Member
Registered: 25th May 05
Location: Lochore, Fife
User status: Offline
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quote:
Originally posted by Ojc
We will all be dead soon anyway when Israel starts firing nukes at everyone.
very true
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Half Pint
Member
Registered: 25th Mar 02
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quote:
Originally posted by cunningham
there has to be a state pension tbh
for unemployed
people who never put to pensions
folk who put to pensions but lost there cash through no fault of there own
i dont plan on living that long and if i do i can easily live on state pension
we are all paying towards folks state pensions that now why shouldnt we get one ourselfs
the money we pay today goes into the pot for people of today, this goverment and ones before it are never really paying for the future and this is the same for companies, it relies on the new blood to pay the pensions for people retiring today.... lets face it when we are 50 we'll all be living in tin huts growing vegtables to eat accepting proverty money from china and india....
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Colin
Member
Registered: 4th Apr 02
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Im planned to buy a 2nd property instead of a pension......not sure any more.
Renting could be hassle & will it be worth as much as I hope in 30 years when I want to sell up & cash in??
I might just make a money bed.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Also you could pay into a pension for all your working life & then drop dead a few months into retiral & its gone. An Isa will at least go to your family minus inheritence tax.
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Half Pint
Member
Registered: 25th Mar 02
User status: Offline
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Pension would go to whoever you nominate, as it stands my mum get my life infsurance and sisters the pension.
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