To ask if anyone else DOESN'T have a HUGE pension pot?

[PaprikaPringle]

I can't be the only one on MN who

doesn't already have 100s of 1000s in a pension pot
or a defined benefit pension awaiting me
or a stonking great property portfolio

Am I .....?

And if you have any of the above this isn't the thread for you

Sorry about your illness, but read the room Nat6999

I’m 48 and I’ve never managed to save anything. I’ve never earned enough to pay my way and save.

I'm 41 and don't have a pension other than what I will be entitled to for my state pension.

I'll probably not retire and theyll find me dead at my desk.
That's what's going to happen to me too, I think. Although I'm freelance, so the other possibility is that the work will dry up before I'm ready to die...

I'm 41 and have about 35k and husband has 20k in various private pensions, which i need to merge i guess? I'm still contributing via work, but not very much - think this equates to something like £350 a month when i retire.

When i was in my early 20s, i sat next a real arsehole at work, but he did say to me one day, put as much as you can in the pension as the company matches every pound. I'm very grateful now for his advice.

Can anyone tell me, when you reach retirement age, do you get given these lump sums or how does it work?

billysboy, tell me to eff off if this is too nosy but is that all the money you have saved, or do you have further/separate savings too?
I ask because I've got about £50K saved so far but that is IT –everything I have, to do me as a pension and rainy-day/life savings too.

I have about £25k spread between 3 pensions. I'm 50. Need to contribute another 6 years NI to get full state pension.

I had a brilliant local authority job pre DC which I had to give up for a variety of reasons post DC and I'm kicking myself now. At the time (age 27) pensions were the last thing on my mind. And it was never mentioned to me how important it was to make sure you start building a pension pot as soon as you start working and to make regular contributions however small.

I was a SAHM for 16 years so no pension contributions during that time.

Am now working part time, around £800 pa now going towards a pension, no idea what that might be worth in 15 years time.

The only saving grace for me is DH. He's got a good pension which should be enough for us to live on together with the state pension. We own our own home so will probably downsize and free up some cash when we retire. But before then have to fund DCs through uni.

I try not to think about it all.

I'm self- employed and have a small pension pot from a previous salaried job. I fully expect that the pensionable age will continue to rise and those of us without a £1m pension pot will have to work till we die.

Started paying into pension aged 26 which is already too late to get anything decent. Currently I think predicted to receive £12k per year

But I have £55k in investment portfolio so in 30 years time should be some extra for my retirement

I'm 43, worked for the NHS for nearly 20 years and don't have a pension. I cannot afford the contributions they take. If I could choose my own amount that would be fine, but I have too much month at the end of my money as it is

I am 60 this year. I was a stay at home mum of two, then worked part time so I only have 24 years stamps, god know what I will live on, my husband still works at 67, me not as I'll health but not so bad to claim any help.

Health not good

It can be worth while talking to a GOOD, REPUTABLE Financial Adviser about pensions. Yes, you'll have to pay a fee to them if they do any actual work for you, but that can pay for itself in the long run. Just make sure it's an FCA registered company, and ALL investments they recommend are regulated. If anyone suggests an investment that guarantees above market average returns, run away & don't look back!

I don’t but then again I’m mid twenties and planing on contributing the majority of my salary for the foreseeable future so I hope I’ll be fine.

Civil Service workers - pensions are definitely still a major perk in addition to more generous annual leave plus more job security.

I wish people would stop spinning this outdated line. Final salary CS pensions closed to new entrants about 10 years ago, and even those who were in the old Classic scheme are on worse terms than when they joined it. The current annual leave amount is worse than, for example, most higher education establishments; 1.5 privilege days have been removed; pay scale increments have been abolished and the starting salary for someone on the grade of a first line manager (Executive Officer) is less than the national average. It’s not the job for life it was and the “perks” are far more in line with other employers these days.

Anyway back on topic, my scattered pensions are due to give me around £3,500k per year so I’m signing up for the Mumsnet commune!

Wow! I know this sounds awful but I'm quite relieved I'm not the only one without a secure future. I actually loose sleep worrying about the future. My husband has a pension, been with local authority for over 30 years. Our issue is, our home comes with his job and we don't own a property of our own. He is 10 years older than me and I do wonder where we will live when he retires and how we will ever afford to rent privately. I even tremble thinking about it.

Cashed in my pitiful pension to pay for DS2 to get additional tutoring for dyslexia. No idea what I will live on later.

H

No it doesn't include housing benefit, council tax benefit, pension credit! Then if you have health issues you can claim Attendance Allowance which is the OAP type of PIPS. There is alot of various entitlements available on a basic pension

I have about £1500 in an old pension pot. Not sure how much with current employer. I work part time so probably not a lot. I am early 30s so will hopefully look to take out a private pension and add more to it or may just increase the amount I put into my work pension as that might be more productive.

@Christmastreejoy if you claim carers allowance & your dc are adults you should get extra pension (or you use to before the changes) fill in form for HMRC for estimate of pension & check about this & whether it will still be considered

I have had a lot of jobs, so always paid in but just have several with tiny amounts in. £1k here, £2k there.

Started working at my forever company, public sector comp, at 33 and will easily do 30 years here. Really hoping I haven't left it too late and this will be a decent amount of time to build something up.

I probably should look at merging all the small ones, but whilst paying sky high mortgage, nursery fees etc, I dont have the time/money to see an IFA. Feels like I should probably prioritise that though...

@Lifecraft I'm self employed and earn too little to pay tax, before that I worked a series of NMW jobs. A pension with employer contributions was never an option for me, and at least with a LISA I get more than just my contributions plus interest.
I understand that for most people the tax savings plus employer contributions more than offset the LISA bonus, but that's not the case for me.

I've been in my (minimal) workplace pension for about 3 years (when it became compulsory). I've no idea how much is in it. I think between me/employer/Gov't about £70/month is paid in (and less in previous years) so it's not going to be anything to get excited about.

I'm not sure top ups to pensions will be around in 20 years.
Don't even think state pensions will be around.
More going out the pot, than going in I'm afraid to sustain it.