Quote:
Originally Posted by Pierre
I'm not saying that pensions in the private sector are rubbish, I have a fairly good pension plan.
But most importantly my pension is not underwritten by the treasury.
Without knowing how much you pay in, how long you have been paying in and at what age you intend to retire it's impossible to comment.
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I am paying in around £172 a month into my public sector pension as i have bought some years at full cost as well and my pension will be as described after 32 years of contriutions or the equivelant i could take it at 60 under the present rules the NHS 1996 pension scheme but will not be able to afford to live off it until i get my state old age pension.
By the way if i did not pay into my public sector pension,when i retired the government would be paying me full housing benefit and council tax benefit as i would be on the basic state pesion,so me contributing to my public sector pension means i can now pay these myself.
You would be surprised how many do not contibute in the area of the public sector i work in,thereby they are able to claim extra government benefits on retirement,which is something i am striving not to do by paying into our pensin scheme and trying to be self sufficient in retirement.
