Jon Ison
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 posted on 1/3/06 at 05:23 PM |
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"A-Day"
Anyone on here affected by this ?
Planned my personal pension years n years ago, now I'm told I have too wait another 5 years for it, cant take it at 50 no more but 55, I miss
out by months on the cut off date, state pensions ect maybe but not meddling in personal ones. The cut off date is April 2010, i,m 50 (god old fart)
in 2011.
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Gav
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| posted on 1/3/06 at 05:30 PM |
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Im not, but im havining trouble deciding if i should keep opted out of the second state pension thingy...
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jonbeedle
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| posted on 1/3/06 at 05:37 PM |
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I'll be 50 in 2011 too! (I'm 45 today!) But I still plan to retire then. I've had a final salary pension since 1983. Who knows what
will happen to that in the next five years. I wouldn't worry though. Things will change between now and then. It all depends which band of
crooks is in goverment by then anyway! Nothing will deter me from my five year plan though. So I'm making investments elsewhere and not relying
totally on my pension. It's too unpredictable!
Cheers
Jon
"Everyone is entitled to an opinion however stupid!"
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Jon Ison
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| posted on 1/3/06 at 05:39 PM |
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Many happy returns....... I actually would most probably not have taken the option at 50 but now it seems I dont even have the choice.
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fesycresy
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| posted on 1/3/06 at 06:07 PM |
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I've been told by my IFA that there are many benefits to A day.
Which translated means, he can make more money out of me and I have no choice in the matter at all.
Time for a career change, become an IFA or get the gun and visit Securitas 
-----------------------------------------------------------------------------------------------------
The sooner you fall behind, the more time you'll have to catch up.
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DorsetStrider
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| posted on 1/3/06 at 07:42 PM |
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cant say much about A day since I'm only 30 and years off drawing a pension yet. Not to mention about 6000 miles if things go well....
However I used to work for Abbey Life and if you are over 50 and within say 5 years of drawing a pension it would PROBABLY be worthwhile to opt INTO
SERPS. I'd advise you to get yourself along to an IFA asap.
Disclaimer: The sentiments expressed in this post are an opinion only and not nessicarily that of the author who takes no reponsibility in any way,
shape or form for anything that happens from now on.
[Edited on 1/3/06 by DorsetStrider]
Who the f**K tightened this up!
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Simon
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| posted on 1/3/06 at 08:40 PM |
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Since "retiring" from working in London, I've thought long and hard about my pension.
And decided to forget it.
Trouble with pensions is once money is locked away, it's no longer yours and if you die, you still get none of it.
I'll aiming to pay off mortgage, then with proceeds of second endowment buy another place to give me an income.
I may have to pay tax on income, but when I pop me clogs, so to speak, at least there will be another realisable asset.
ATB
Simon
Long live Gordon Brown (in hell) who taxed pensions and started this great f up in the first place.
[Edited on 1/3/06 by Simon]
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bob
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| posted on 1/3/06 at 08:48 PM |
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I'm 50 in 2011 as well  that news has really cheered me up......NOT
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Dusty
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| posted on 1/3/06 at 09:19 PM |
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I'm 57 and already getting my pension. Happily swop my ancient bod for a younger one and all the worries about pensions. Any takers
theoreticaly?
Thought not.
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ned
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| posted on 1/3/06 at 09:46 PM |
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One pension already and some shares at 24. 'A' day is good for me as it means i'll be able to opt into the company (my second)
pension scheme sooner (not been long with the firm) and both my pensions are/were healthily contributed to by my employers
Ned.
beware, I've got yellow skin
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Agriv8
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| posted on 1/3/06 at 10:51 PM |
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I will keep this short as the other job is in a LG ( local gouvernment ) pension fund Yes I know its a very rare final sallery Scheme .
Problem is that the little  changes this time are nothing to what is likley to happen in 2008. Especially if Gordon Brown moves next door !
The main problem has been Gordon in the first place ( taxing investment returns ) the fund I work at is in very good shape considering the crap stock
market over the last 4 - 5 years. Nearlly fully funded
All managed locally by in house investment team.
The thing that buggs me and alot of my collegues is.
I bet Gordon wont be afected by the changes he and his cronnies have brought in.
when I joined the Pension fund I joined on what I thought was a conract but this is a special contract that the gouvernment can change just so they
can meet THEIR political choises.
Bloody Polititions spinning crap rather than dealling with a problem.
Anyway better stop before I really start ranting !!!
Agriv8
Taller than your average Guy !
Management is like a tree of monkeys. - Those at the top look down and see a tree full of smiling faces. BUT Those at the bottom look up and see a
tree full of a*seholes .............
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steve_gus
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| posted on 1/3/06 at 11:07 PM |
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Simon, thats not correct.
Its very worthwhile to have a pension.
If you die THE WHOLE VALUE OF YOUR FUND gets paid to your wife or whoever you nominate. I for one dont want to sit around a candle for warmth as i
lived for today and didnt think of tomorrow. I also dont want my wife to live in poverty if I die tomorrow or at 65 and one day.
quote
I'll aiming to pay off mortgage, then with proceeds of second endowment buy another place to give me an income.
are not endowments doing crap?
One advantage of opting out of S2P (serps) is that you can draw money from the investment from 60 - if you leave it in the SERPS it cant be touched
until you are 65.
Problem with pensions tho is you need to pay in early or pay a lot in later life.
Jon - if you can retire at 50, you must have built up a healthy fund!
atb
steve
http://www.locostbuilder.co.uk
Just knock off the 's'!
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stevebubs
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| posted on 2/3/06 at 12:44 AM |
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Sorry, but WTF is 'A' day?
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jonbeedle
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| posted on 2/3/06 at 01:19 AM |
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quote:
Jon - if you can retire at 50, you must have built up a healthy fund!quote:
I have some investments including some properties and I'll still have my income from my music, so I guess I'll be semi retired. I plan to
at least be out of the rat race and the daily 9-5 or in my case 9pm -7am!
Cheers
Jon
[Edited on 2/3/06 by jonbeedle]
"Everyone is entitled to an opinion however stupid!"
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