Friday, 17 June 2011

pensions

Not the sort of things you might want to think about early on in your career, in fact with the pension age rising (66 at least now isn't it?) it seems further off than ever!
However, I work in the public sector and I am probably one of the few people who actually get it.... there is not enough money in the system and some more has to be found from somewhere otherwise it will run out!!!

So, no problem with the age rise to 66 for pensionable age - I was expecting to have to work till then anyway so what is the problem!

Increase in contributions - well that is more problematic, especially as this cuts into my take home pay in a big way, and you don't get anything extra for that money. But if you want that pension pot full by the time you reach 66 or whenever then unfortunately it's inevitable.... Like I said if the well's going to run dry at some point in the future, then you need get money to drill a new hole....

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