The pension scheme they are offering is going to take £120 out of my wages each month. This seems rather a lot. What do you think??
2006-10-10 00:56:09 · 11 answers · asked by lovelylexie 4 in Business & Finance ➔ Careers & Employment
They do contribute.
It's unlikely to go bell up, as it is a Local Government Pension Scheme.
2006-10-10 01:00:08 · update #1
It's 6% of my salary, but this still seems a bit steep.
2006-10-10 01:01:31 · update #2
Most employers give you chance to dictate how much you pay in. Opt Out of the scheme, and start a savings scheme else where.
2006-10-10 01:05:49 · answer #1 · answered by k 7 · 1⤊ 0⤋
usually pension schemes are a percentage - 5% is a good one. if you arent happy speak to a financial advisor. Usually you will find work ones pretty good. Does your employer put in the same amount asd you, this is called a contibutary pension, summit like that anyway? I'm a bit out of touch with it myself, i used to be a F.A but that was a while ago.
if you are older this maybe for the reason of high pension aswell.
2006-10-10 08:04:09 · answer #2 · answered by jtun23 2 · 0⤊ 0⤋
Take out your own savings account and pay your pension into there. When theres a good lump of cash blow it all on a great holiday. You may as well enjoy your income whilst your fit and healthy. Once your old nothing seems enjoyable, judging by how many grumpy rich old people are around..
2006-10-10 08:19:13 · answer #3 · answered by ash 2 · 1⤊ 0⤋
If it's a final salary pension then it's not a lot.
Don't think about what you're paying now, think about the payment you will receive when you retire
2006-10-10 08:05:10 · answer #4 · answered by Denny 3 · 0⤊ 0⤋
Depends what your salary is!
About 5 or 6% is average I believe... therefore that would be about right if you're on 25-30K.
2006-10-10 07:59:31 · answer #5 · answered by lindsay 4 · 0⤊ 0⤋
can't really comment, other than to say, in this day and age it's wise to have a company pension scheme
if you think you can afford it, why not?
2006-10-10 08:09:18 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Retirement is the future. Hope its secure.
Many retirements funds go belly up with firms that go thru corruption and scandals.
2006-10-10 07:59:17 · answer #7 · answered by cork 7 · 0⤊ 0⤋
it does seem to much. if you convert that into rands, south african currency u are paying about R1200 a month. thats quite a bit
2006-10-10 08:34:49 · answer #8 · answered by rem 6 1 · 0⤊ 0⤋
You need to find out what percentage they are offering.
2006-10-10 08:03:55 · answer #9 · answered by Annie M 6 · 0⤊ 0⤋
is a bit steep ask if they are contributing at all
2006-10-10 07:58:22 · answer #10 · answered by Paul T 2 · 0⤊ 0⤋