The 'Pension Changes''

[Papak]

That makes sense, lies, damn lies etc.

 

[Steve Foster]

How can the average pension pot only be worth £35K?

I'm early forties and already have about 150K with at least 25 years still to work and contribute.

Are they not including final salary pensions in that figure or is it case of not using mean but mode or median average?

Most people have several pots from differing employments during their work lifetime

 

[beorhthelm]

How can the average pension pot only be worth £35K?

I'm early forties and already have about 150K with at least 25 years still to work and contribute.

Are they not including final salary pensions in that figure or is it case of not using mean but mode or median average?

because a very large number of people put as little as possible in to a pension, or only for a couple of years, or are part time so the contributions are small. someone moving between jobs might have a half dozen small pensions, that can skew the stats too depending on how they are reporting them.

 

[LamieRobertson]

How can the average pension pot only be worth £35K?

I'm early forties and already have about 150K with at least 25 years still to work and contribute.

Are they not including final salary pensions in that figure or is it case of not using mean but mode or median average?

You are lucky then

 

[Tom Hark Preston Park]

Most people have several pots from differing employments during their work lifetime

Big plug here for the government's free Pension Tracing Service: https://www.gov.uk/find-lost-pension

All you need to do is fill in a simple form basically telling them what company/companies you worked for and between which dates and they'll point you in the right direction. Can't recommend it highly enough. I recently used this to find a pension from the mid-eighties. Completely forgot I had it. I'd only worked for the company for four years and the pension had been quietly ticking over, racking up gains all that time, while the pension letters went, presumably, to the address I had at the time. Very pleasant surprise!

 

[Seagull58]

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Yes it all sounds so easy.

There are numerous unit trusts that consistently return 10%+ per annum over 5, 10 and more years. With a decent sized pension pot you can draw an income equivalent to that which you'd get from an annuity without eating into the starting capital.

 

[LamieRobertson]

There are numerous unit trusts that consistently return 10%+ per annum over 5, 10 and more years. With a decent sized pension pot you can draw an income equivalent to that which you'd get from an annuity without eating into the starting capital.

Perhaps with the provisio that you don't put all your eggs in the same basket and phase your money into the market ...its looking a bit toppy at the mo ..but cash is earning zilch...but always seek professional advice not from amateurs like me.

 

[Hampster Gull]

Good to see a government giving people the option to spend / invest their money as they choose fit. Will live in a nanny state in too many ways and whole industries have been built around it to suck their slice off.

 

[Soulman]

Good to see a government giving people the option to spend / invest their money as they choose fit. Will live in a nanny state in too many ways and whole industries have been built around it to suck their slice off.

Agreed.

 

[Seagull58]

Perhaps with the provisio that you don't put all your eggs in the same basket and phase your money into the market ...its looking a bit toppy at the mo ..but cash is earning zilch...but always seek professional advice not from amateurs like me.

Depends where you're looking. P/E ratios in the US are at a historically high level but the US continues to churn out great employment and earnings data. The UK P/E ratios are pretty much at historical averages.

 

[LamieRobertson]

Depends where you're looking. P/E ratios in the US are at a historically high level but the US continues to churn out great employment and earnings data. The UK P/E ratios are pretty much at historical averages.

True,,,but then there are political uncertainties coming up in UK...although I guess it depends what part of the UK market up look at ...100 is made up of multinationals....I still stick to my point about diversification and phasing in so that you do your best to avoid a 'top'

 

[SIMMO SAYS]

True,,,but then there are political uncertainties coming up in UK...although I guess it depends what part of the UK market up look at ...100 is made up of multinationals....I still stick to my point about diversification and phasing in so that you do your best to avoid a 'top'

You should run for Mayor Lamie, you'd get my vote