Jump to content
House Price Crash Forum
Sign in to follow this  
cashinmattress

One In Six People Cut Back On Pension Savings Or Quit Altogether

Recommended Posts

One in six people cut back on pension savings or quit altogether

Nearly one in six people have either reduced the amount they pay into their pension or stopped contributions altogether over the past five years, a new survey suggests.

The sharp cutback in saving will mean some 27% of retirees over the next decade will rely on the state pension and their own savings – up from 22% this year, according to the survey from Prudential.

The decline in final salary pension schemes appears to be the main problem, with 9% of the survey's 1000 respondents having moved out of such a plan over the past five years.

Some 42% of people planning to retire this year said they had most of their savings in a final salary scheme, falling to 35% for those planning to retire over the next decade.

‘It’s worrying that many people who have been working for years and saving for retirement seem to have given up hope and stopped paying into their pension,’ Martyn Bogira, director of defined contribution solutions at Prudential said.

‘It’s also really worrying that many people either planning to retire imminently or within the next decade still believe the state will support them when we know that, for many people, this won’t be the case.’

Substitute your future financial security, albeit in the hands of selfish greedy brokers, but somewhat regulated products...

for

Right now BTL roulette wheel spin with your life savings, in a heavily unregulated market.

(Hint: Nobody will bail you out for ill thought property gambles!)

Hmm....

We are all well and truly fvcked, isn't us?

We need to bad together folks. Get angry and start ripping those gold plated pensions and promises to the boomer out of their uncaring hands. Why the hell are we supporting such a biased system for a wholly unproductive segment of the population? Nothing as jammy will exist for the generations coming up behind, and being legislated to support it.

Share this post


Link to post
Share on other sites

How many peoples pensions are worth less than what they contributed due to stock market crash?

There is a reason people thought of their property portfolio as their pension as that at least did go up!

Share this post


Link to post
Share on other sites
...Why the hell are we supporting such a biased system for a wholly unproductive segment of the population? ...

They outnumber you :D

Democracy - mob rule ;)

Share this post


Link to post
Share on other sites
Yep.

Time for change, or, it will get very violent.

And what is going to make this change occur do you think?

Edited by williamdb

Share this post


Link to post
Share on other sites
And what is going to make this change occur do you think?

A hoarde of starving, poor, educated and unemployed youngsters?

The secret will get out eventually. Boomer's will be mostly in retirement and enjoying a disproportionate share of the nations wealth within a decade.

Share this post


Link to post
Share on other sites
A hoarde of starving, poor, educated and unemployed youngsters?

The secret will get out eventually. Boomer's will be mostly in retirement and enjoying a disproportionate share of the nations wealth within a decade.

So how does that tie in with current British pensioners being amongst the poorest in Europe

British Pensioners Amongst Poorest in Europe

Where are they hiding their ill gotten gains.

Share this post


Link to post
Share on other sites
'Poor' old British people living in houses they own.

There is a big difference there.

At current prices, I concede your point.

At the much lower prices that we are going to see in the next 5 to 10 years (in real if not nominal terms), I don't .........

Share this post


Link to post
Share on other sites
A hoarde of starving, poor, educated and unemployed youngsters?

The secret will get out eventually. Boomer's will be mostly in retirement and enjoying a disproportionate share of the nations wealth within a decade.

So you're saying nothing will happen until it is too late, it will get violent no matter what?

Share this post


Link to post
Share on other sites
So you're saying nothing will happen until it is too late, it will get violent no matter what?

Hard to say here in Britain. We have a pretty pathetic history when it comes to insurrection and violent civil disobedience. Looking back to 1688, well, we probably won't change the status quo, no matter how unfair it is, without some outside help.

Hey, aren't we going to have an EU army?

Edited by cashinmattress

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   288 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.