Please tell me I am not the only oldish person without a pension plan

[QuentinLettsisAbitofAtool]

Not a TAAT well it is a bit but sod it

I'm having a bit of a panic attack brought on by the MN survey about pensions. I don't have one, have a big mortgage, not due any parental inheritances and am in my 50s.

Please tell me I'm not alone as that might make me feel less dumb!

Oh and I put "oldish" in the thread title because I mean old in terms of a pension. Twenty somethings who don't have a pension don't fit my criteria!

@Bettyspants .

I would like to hear it but do have little spare income

Watching this thread with interest. I have a pension but my DH doesn’t and has just turned 40. Is it too late for him to bother with one now?

I don’t have any pension.

Gave up working decades ago and been self employed in between bouts of being unfit to work and raising children.

Dp had a very healthy pension pot up to 2 years ago when he was diagnosed with terminal cancer.

He cashed his pension in. We spent it on an operation that the NHS wouldn’t give him which we think could have bought him a few more years a couple of nice holidays and because he was off work for nearly 2 years he wasn’t paid. So although he has returned to work his pension pot is decimated.
If by a miracle he survives I have no idea what the future holds

I’m 54 with hardly any pension
My employer contributes 6% and I can’t afford to top it up
I will be mortgage free and will carry on working as long as I can even if only part time
I am used to being frugal and will try and earn extra income as I do now

Forgot to add other reasons why I’ve never been able to save
Low income
Lone parent since DC were 4 and 5
My own Ill health and disabilities
Big mortgage thanks to having to buy out ex DH and ex DP
Work in voluntary sector

I'm very glad to hear that the tracking down is possible! I have 3 years of a teacher's pension that I can't find any paperwork for, plus a couple of other bits and pieces. It won't add up to a lot, though I'm now in a more stable job with an employer's pension scheme, so 20 years of that will help. I am, however, in a good position regarding potential inheritance, so unless that goes badly wrong, I should be okay.

Sorry you can't control who posts on your thread, OP 😂

ChodeofChodeHall - I know - some people just can't resist talking about themselves even if it's not relevant

op ONLY wants the thread for those 50 + with NO pension . What about those who would actually like to start contributing and making the most of a crappy situation?

No, it's fine. OP's announced that she isn't the thread police. Go ahead!

I don't have one. My plan is to marry a millionaire, or die young. Knowing my luck it will be the latter.

I'm 48 and an NHS employee - I have a fantastic pension. I've worked 40+ years in the NHS and thankfully my employer contributed as well as myself.

OP you sound very bitter - it is not the public sector's fault you didn't plan for your future - my sister is in the voluntary sector and she took advice at a young age to plough what she could afford into her pension - she'll be worth much more than me

You have no-one but yourself to blame - I don't know anyone my age (late 40's) who would be so naive not to have pension

sorry that should say 30 plus years x

These threads usually seem like a different world to me, we just about scrape by most weeks/months and 'spare' money for stuff like pensions and life insurance just isn't possible. Both sets of parents own their homes (we don't) but, with potential future health problems and possible care costs to take into account, that doesn't feel like any kind of safety net, nor would we expect it to be. It isn't lack of forethought, it is a worry for both of us but it just isn't possible to find anything extra to essential bills and food. I don't know whether I feel better or worse to see there are a lot of people in the same boat

OP you sound very bitter - it is not the public sector's fault you didn't plan for your future

@hamblehumpty

I think you're mixing me up with another poster as I haven't said anything about the public sector. Try reading the thread properly before making accusations. I'm not in the least bit bitter. Was panicking briefly earlier - hence I started the thread.

"You are lucky that you were in a position to plan ahead / in a job where pensions were offered"

It wasn't luck. I chose a public sector job largely due to the pension.

You have no-one but yourself to blame - I don't know anyone my age (late 40's) who would be so naive not to have pension

Um, I think this thread is pretty clear that there are plenty of us who don’t (myself included). Maybe look outside your social circle! There are numerous reasons, many posted in this thread, why people don’t have a pension at this age. What did your comment add to the discussion other than to put down other people?

What did your comment add to the discussion other than to put down other people?

Exactly! What an unpleasant smug individual

humblenumpty you win. You are the best at pensions.

Most US companies dropped them years ago when the law changed to require them to be fully funded and went to defined contribution plans. So many, many people here don't have a traditional pension.

DH will have a tiny one from a job he was in for 7 years some time ago. I'll have a small one too, other than that we'll have our government pensions (called social security here) and have been saving like mad in our personal retirement accounts.

humblenumpty you win. You are the best at pensions.

'humblenumpty' Actually can't breathe! 🤣
Not humble and really is a numpty

My comment added to the discussion that we need to think ahead and that we will grow old one day - OP's post was please tell me I'm not the oldish person to not have a pension plan

Reading this tread apparently it's quite normal - my stance is you absolutely have to think about your future and rely on it - how many people here will be on benefits - disgusting

hamblehumpty

Aren’t you the lucky one.

Never having been made redundant.

Never having any ill health.

And being in a job which paid enough for you to pay into a pension scheme.

I bet you live in a relatively cheap area as well.

*NaiceShoes Mon 19-Nov-18 23:44:12
What did your comment add to the discussion other than to put down other people?

Exactly! What an unpleasant smug individual hmm*

Oh so feck off dear - I'm not at all smug - I just take responsibility for mine and my child's choices

Hamblehumpty mentioned disgusting benefit claimants. This makes him/her a goady fucker and should just be ignored.

I started paying into a pension in my 20s. Im so glad that I started paying early. My anticipated state pension is approx £150 per week at age 68. I have some other investments too. However, I am living life too, just incase I don't make it that far ! I am aware that some other people are not in such fortunate positions, however, we all make choices...