Active discussions

Please or to access all these features

Talk
AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To wonder if I’m completely fucked for retirement?

57 replies

thisishoiedoit · 09/12/2025 22:42

So I would appreciate realistic opinions from all walks of life…

Am 47, recently divorced. Never really planned properly for retirement, many years as SAHM.

My financial situation currently is:
mortgaged house (with 300k equity)
defined benefit pension worth estimated 800 per month (upon retirement)
state pension record up to date
13k in private pension that I pay circa 500 per month into via my self employed income
workplace pension of of of around 200 per month contributions (part time job due to aforementioned self employment also)

Have I completely fucked my retirement? Would I be better off sacrificing the employed job with crappy pension in place of higher remunerated (but equally much more unstable) self employment?

OP posts:
New posts on this thread. Refresh page
Pepperedpickles · 15/12/2025 08:15

I think you’re worrying over nothing!

I am 45, no private pensions (well, maybe about £10 a month from jobs I did in my 20s), on long term PIP due to severe disabilities and unable to work. My house is worth quite a bit and I have no mortgage (paid off due to previously high income) but I’ll be managing mostly on state pension and disability benefits.

user927464 · 15/12/2025 08:04

Bjorkdidit · 14/12/2025 11:21

But £26k was a high salary. I earned between £6k and £10k in an entry level public sector role at that time. Even our middle and senior management wouldn't have been on £26k

It wasn't. It was 1997 when he started working there. £26k wasn't a bad salary but it wasn't high.

There were far more final salary pensions around then though and they all had different rules.

Bjorkdidit · 14/12/2025 11:21

But £26k was a high salary. I earned between £6k and £10k in an entry level public sector role at that time. Even our middle and senior management wouldn't have been on £26k

user927464 · 14/12/2025 10:34

SwedishEdith · 10/12/2025 17:21

£800 pension from 5 years of working in a DB scheme means you must have been on a very high salary. Was it an 80th or 60th years scheme? Salary divided by 80 x 5 years = pension.

Not necessarily. It depends on the scheme and how long ago the member was active in the pension scheme. DH has a £4000 pa pension from 4 years in a final salary scheme when he earned £26k when he first started work in the 90s.

Ionlymakejokestodistractmyself · 10/12/2025 17:24

I have similar to you except no defined benefit pension.

And you think you're screwed haha

SwedishEdith · 10/12/2025 17:21

£800 pension from 5 years of working in a DB scheme means you must have been on a very high salary. Was it an 80th or 60th years scheme? Salary divided by 80 x 5 years = pension.

Original poster
thisishoiedoit · 10/12/2025 14:34

whatsnewpussycat34 · 10/12/2025 13:16

What’s quango, how do I get in an where do I sign?

Show quote history

Basically civil service but arms length. Equivalent pension, possibly better than CS although the quango I worked for no longer exists.

OP posts:
oneinataxioneinacar · 10/12/2025 14:27

AlastheDaffodils · 10/12/2025 14:24

DB pensions turned out to be non-viable in the private sector because the liabilities are volatile and they don’t allow for company shrinkage. Many well known companies (including BA) were nearly driven into bankruptcy by their pension schemes in the zero interest rate era. They are only possible in the public sector because the government has unlimited powers of taxation and, in extremis, money printing.

Show quote history

I'm not at all suggesting we go back to final salary pensions etc. just bigger employer contributions

AlastheDaffodils · 10/12/2025 14:24

oneinataxioneinacar · 10/12/2025 14:14

It makes sense though for the government to ensure it's employees are well provided for in retirement and won't be reliant on benefits.

I'd like to see other employers do similar

Show quote history

DB pensions turned out to be non-viable in the private sector because the liabilities are volatile and they don’t allow for company shrinkage. Many well known companies (including BA) were nearly driven into bankruptcy by their pension schemes in the zero interest rate era. They are only possible in the public sector because the government has unlimited powers of taxation and, in extremis, money printing.

Newyearawaits · 10/12/2025 14:18

Marmalade71 · 10/12/2025 09:01

I’m not sure the point of this. Quite clearly you’re not fucked, particularly as you have another 20 years to work.

This and the future doesn't come with a guarantee

StarsTwinklingPomanders · 10/12/2025 14:17

Op what more would you be expecting on top of that ?

notatinydancer · 10/12/2025 14:14

user927464 · 09/12/2025 22:49

Cant really say from that. How much equity is in the house? How big is it (can you downsize on retirement). When do you want to retire? How much is in the workplace pension. What sort of standard of living do you want when you retire? How much do you earn in your part time job and how much more could you realistically earn if you spent those hours in your self employed role?

She says £300k equity

oneinataxioneinacar · 10/12/2025 14:14

AlastheDaffodils · 10/12/2025 13:06

Government should really offer its people the option of 20% higher salary in exchange for a legal minimum DC pension. I bet take up would be huge.

Show quote history

It makes sense though for the government to ensure it's employees are well provided for in retirement and won't be reliant on benefits.

I'd like to see other employers do similar

gogomomo2 · 10/12/2025 14:10

You have 20 more years, from the figures you have given you will be fine. You aren’t likely to be able to retire early though. Remember once your house is paid off you can save extra too

Lightingfail · 10/12/2025 14:07

It really sounds fine.

FuzzyWolf · 10/12/2025 13:54

What kind of retirement lifestyle do you want and what age do you hope to retire at?

Chiseltip · 10/12/2025 13:52

thisishoiedoit · 09/12/2025 22:55

60% equity in the house, but mortgage will be paid off when I retire.
Only started at that job this year so nothing very much in the workplace pension as yet
I don’t do foreign holidays, fancy cars or ‘things’ now so wouldn’t want that in retirement
I earn 3 x as much in my self employed role but it isn’t consistent/ no sick pay/ no holiday pay etc

😂

You'll be living in a mortgage free house worth about 800k, with a grand a month pension.

I think you might just pull through!

Unless Waitrose runs out of that naice ham!

Then you may struggle emotionally.

FastTurtle · 10/12/2025 13:35

thisishoiedoit · 10/12/2025 12:57

It’s insane, isn’t it? I didn’t even really understand it at the time.

Show quote history

Something similar happened to my DH, he worked at a company with a final salary pension for 6 years and left about 18 years ago. He sold that pension for just under 650k. It’s totally bonkers and pure good luck.

whatsnewpussycat34 · 10/12/2025 13:16

AlastheDaffodils · 10/12/2025 12:42

Off topic but the fact that five years at a quango can provide a risk-free pension worth north of £150k shows just how spectacularly generous public sector pensions are

What’s quango, how do I get in an where do I sign?

AlastheDaffodils · 10/12/2025 13:06

oneinataxioneinacar · 10/12/2025 12:51

And yet I always struggle to recruit because our headline salaries are lower even if the overall package is better.

Show quote history

Government should really offer its people the option of 20% higher salary in exchange for a legal minimum DC pension. I bet take up would be huge.

Original poster
thisishoiedoit · 10/12/2025 12:57

AlastheDaffodils · 10/12/2025 12:42

Off topic but the fact that five years at a quango can provide a risk-free pension worth north of £150k shows just how spectacularly generous public sector pensions are

It’s insane, isn’t it? I didn’t even really understand it at the time.

OP posts:
oneinataxioneinacar · 10/12/2025 12:51

AlastheDaffodils · 10/12/2025 12:42

Off topic but the fact that five years at a quango can provide a risk-free pension worth north of £150k shows just how spectacularly generous public sector pensions are

And yet I always struggle to recruit because our headline salaries are lower even if the overall package is better.

oneinataxioneinacar · 10/12/2025 12:50

Tilesarebad · 10/12/2025 10:52

I find the thread title a bit disingenuous tbh.
OP must know she’s not completely fucked for retirement🤔

Agree. It seems astonishingly tone deaf (and I say that as someone with a decent pension but very aware of my own privilege)

Hedjwitch · 10/12/2025 12:47

Blimey. I wish I, and probably thousands of others,was that fucked!

You'll be fine.

ThisTicklishFatball · 10/12/2025 12:44

You’re not “completely doomed.” You’re 47, not 97, and you already have far more in place than many people who sleep soundly at night. The catastrophizing is understandable after a divorce, but your numbers actually leave you with options.

You’re not in trouble—you just need a solid plan. At 47, with pensions, equity, ongoing contributions, and earning power, you’re well ahead of the “doomed for retirement” crowd.

Ruined for retirement? Definitely not. Here’s a snapshot of your outlook: State Pension around £11k, a DB Pension of roughly £9.6k (£800/month), private pensions that could easily reach £150–300k+ by the time you retire if you keep contributing, and over £300k in house equity to tap into if needed. That’s far from a disaster—it’s a position many would be thrilled to have.

PS: I really hope this thread doesn’t become just another space where people enjoy criticizing and tearing down SAHMs.