Half of UK 'have no pension pot'

Half of UK 'have no pension pot'

news.bbc.co.uk

Half of UK adults aged between 20 and 60 are not putting aside any funds into a pension, a survey commissioned by the BBC suggests.

The survey of 1,358 people by Gfk NOP indicated the situation was worst among under-30s, with only about one in three or 36% putting anything into a scheme.

Affordability is the main barrier for young people, with many saying they are instead having to pay off debts.

Among 41 to 60-year-olds, 45% are not currently paying into a pension fund.

(visit the link for the full news article)

This is a time bomb for the future.
There are a number of reasons.

What jobs will there be for all the old people to do?
What if they are too ill to work, how will the government support everyone?

As mentioned in the article, many of the middle aged people in the UK are very disillusioned with the finance companies and banks. Many people who did have pensions have lost all their money.

I don't know what can be done about it.

BTW I don't have a pension either.

news.bbc.co.uk
(visit the link for the full news article)

Im 29 and I dont have one, really due to student debt and moving around jobs. I am looking to arrange one soon though as sorta stable in the current job and this is the age where I said I would do everything by :lol.S I would be #ting myself tho if I was a 45 year old with no pention that is a scary future you are looking at

reply to post by lightchild

If I were you I would'nt bother gettin one either cos it's money down the toilet.
You're better off just saving any spare money you may have now or in the future yourself. Don't let any pension funds rip you off.
Enjoy life, have fun, spend that cash--the future looks dark so who cares!

reply to post by lightchild


I think it's not just the UK but most countries. Probably even less have pensions.

reply to post by uk today


I think you have a point, especially if the world ends in 2012

Originally posted by lightchild
reply to post by uk today

 

I think you have a point, especially if the world ends in 2012

Exactly---let your hair down, splash out and let the future take care of itself babe!!
And lets face it who wants to get old anyway???
" thats the way I like it baby
I don't want to live forever"
Motorhead summed it up soooo well.

reply to post by uk today


I'm more than willing to accept this mindset. Don't save a dime. Live your life just as you want. Provided, of course, you actually do die young. Too many people with this attitude unfortunately make it beyond their estimated span and into old age with no savings, no assets, no marketable skills, no prospects. They then become wards of the state funded with monies that have been extorted from those who saved, gained marketable skills, prepared and planned.

Rock and roll all night and party every day. Just make good on your claim and die before you become another dependent leech. The fable of the ant and the grasshopper loses some of it's worth when lord government just steps in and nullifies nature.

reply to post by thisguyrighthere

With the world in the state It's in I'd be very suprised if any of us reach old age.
That would be pretty optimistic.
The odds are stacked way against it.

Originally posted by uk today
reply to post by lightchild

 

If I were you I would'nt bother gettin one either cos it's money down the toilet.
You're better off just saving any spare money you may have now or in the future yourself. Don't let any pension funds rip you off.
Enjoy life, have fun, spend that cash--the future looks dark so who cares!

This is pretty much my take on it. The banks could well be going bye bye, the economy could collapse, we could be in for some very hard times. But if none of that happens, I'm boned

I've made a deal with myself. If 2013 comes around without any dodgy shinanigans, then I'll start something up. But until then, it's to hell with it all, let's party.

The way they keep raising the pension age,i doubt i will live long enough to see it anyway!
It is looking like i will have to work 'til i drop!

reply to post by lightchild


Hi ,
My husband and i are two of the people who do not have a pension,we could not afford one and his boss didn't have one for his workers.I looked after my parents my mum had heart trouble ,and other illnesses,after she died dad started having a lot of trouble with his diabetes became a complete invalid in the end he couldn't move.

My husband now have part time cleaning jobs(we work together)he is sixty seven i am sixty two,we need to do this to make ends meet.

I don't have one and never had, except for the gov't (ha ha HA ho hoh ho hee hee hee) one.

My "pension" is the money I save in the bank, stuff under my matteress, or sink into precious metals. For a long time people laughed at me but these days all told I'm not doing much worse than most of those who have seen their net worth evaporate with the stock market, inflation, and US dollar declines.