Didn't know that, maybe my final salary pension is difference?
You are probably right,I don't know how they work,only the money purchase one's.
Didn't know that, maybe my final salary pension is difference?
When the dot com bubble crashed pension pot's went down 25% overnight,when the crisis came to the fore in 2007/2008 they went down 30%
You are forgetting how much they grew in the preceding years, and how much the regular contributions you (should have) made in the troughs will have grown since.
My funds have grown back and are now higher than they were in 2008
But of course there are peaks and troughs. So you're saying that 2007 was a peak, and 2008 was a trough. Neither lasts forever.
Of course, you will miss out on any growth during that period, if you happen to be wrong in thinking you can time the market.
'appen you'd best move your pension funds out of equities and into cash funds, if you believe that.
enyam said:masona said:Didn't know that, maybe my final salary pension is difference?
You are probably right,I don't know how they work,only the money purchase one's.
From what I understand most companies are now fading it out so I'm lucky to have it. Even my company now will not give a final salary for the new employee since last year. They can have a pension but won't be final salary, my guesses it's too expensive to operate.By now, you're probably thinking that a final salary pension (aka earnings related pension) is a jolly good deal - and it is! The problem is that not many employers offer one and many of those that did have closed them to new starters.
From what I understand most companies are now fading it out so I'm lucky to have it. Even my company now will not give a final salary for the new employee since last year. They can have a pension but won't be final salary, my guesses it's too expensive to operate.By now, you're probably thinking that a final salary pension (aka earnings related pension) is a jolly good deal - and it is! The problem is that not many employers offer one and many of those that did have closed them to new starters.
If I couldn't have final salary today then I would be looking at investing properties if I can afford it
You`ll only have to wait until you`re 60[
but the rest I am not allowed to have .
You`ll only have to wait until you`re 60[
but the rest I am not allowed to have .