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Old 04 March 2008, 04:40   #11
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Peterb - and JW. All good points. I just did some quick checks using the FSA's website and I guess there are things I hadn't taken into account - like if the pension is still payable in full/part to spouse after death, whether it is fixed (level) or index linked and of course that it depends not just on the size of the fund but also the starting age. However to have an income of 30k as a 65 year old male I only seemed to need around 400k in the fund - but this does assume no index linking and no payments to a spouse - so you are probably not far off.
Its just all very depressing! (So I am going off to scrape a bottom and forget about it. )
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Old 05 March 2008, 14:02   #12
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Old 05 March 2008, 14:47   #13
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Excellent advice Tinker. But not too young eh??
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Old 05 March 2008, 15:07   #14
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Yeh, but it still doesn't help me to understand how to get the best out of my pensions.

So any sites to go to?
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Old 05 March 2008, 15:43   #15
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Yeh, but it still doesn't help me to understand how to get the best out of my pensions.

So any sites to go to?
Andy, I don't think you are going to find a site that gives you what you are hoping for. Anybody doling out that sort of "advice" runs the risk of being regulated by the FSA.

If you are looking for general information explanations of the type of offerings then the FSA's own website is OK:

http://www.moneymadeclear.fsa.gov.uk/
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Old 05 March 2008, 16:33   #16
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That's the sort of thing I had in mind, thanks Polwart
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Old 05 March 2008, 19:37   #17
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I also think property is the best way forward.

Lets not forget one of the reason why pensions are doing so badly - the FTSE has performed really badly over the last 10 years.

I wonder why?
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Old 06 March 2008, 07:50   #18
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Yeh! My policies are just about to mature and I've only just found out I can't have the money.

Put your money anywhere but in a 'pension scheme'. What you need when you retire is a pot of gold that you have full control over and can invest where you like.

I was 20 yrs old when I took out my pension schemes. If I'd have known then that I wouldn't be able to get at my money, I sure wouldn't have done it. What I have done is give a load of my money to the Pru. They won't give it back.

To my mind that's fraud.

These 'pension providers' have shown themselves to be completely incompetent when it comes to handling other peoples money. I have managed my savings much better than they have managed my so called pension.

Steer well clear. Buy a house, or a field, or some woods, or just put it in a bank, or under your mattress. 'They' will say you could do better. Perhaps so, but at the end of the day you will have capital you have control of. Believe me, that's what you will want when you retire.
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Old 06 March 2008, 16:04   #19
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Try:

http://www.adviceonline.co.uk/pendecisiontree.html

Orve
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Old 08 March 2008, 05:36   #20
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I have always found the Motley Fool http://www.fool.co.uk/ is a good source of financial advice - plus the forums have many contributors who have "been there and done that" (a financial RIBnet !).
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