Are you saving for your retirement?

Your Comments

I have been paying into a pension since I was 18, for many years I paid the maximum personal contribution each month, I believed all the hype about "you must save for a pension". I am now 60 and looking at the amount I am projected to receive annually on the three pensions I have in place I think I would have been better off sticking it under the mattress. My pensions providers are Scottish Widows and Standard Life and all came highly recommended at the time by my employers who were big companies and employed their own Pensions Advisers who liaised with the Providers and myself on a regular basis. So I didn't do anything hasty or without advice. I shall advise my son of 25 to save in bonds or ISAs rather than a pension scheme, a long term pension is too risky and no-one can predict the future of the economy.

I contribute to the Local Govt pension scheme. While I thought I was saving enough, the goal posts seem likely to be moved.

Following the Equitable Life debacle, raiding of the pension funds by the Brown/Blair gang and collapse in annuity rates can there be anyone left with faith in the British pension system?

Pensions need to be simplified and with 100 per guarantee that it is safe, i have a simple stakeholder but I'm told its not a good pension so i save a small amount but i know its not enough, but who want to save say £100,000 in a pension to find its worthless by the time its needed.

Pensions are a rip-off. My father saved all his life, bought an annuity and sadly died; the fund was worth £72000 - we lost the lot. I save into ISAs - although the money going in is taxed, the proceeds are tax-free +, criticaly, the money is still mine, so, if/when I die, my heirs will benefit (tax-free). The government isn't stupid - it graciously allows you tax-free payments in and then, after years of contributions, it taxes the (larger) proceeds.