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

I don't
It started off pretty decently then the company I worked for went bust
I'm now part time self employed and barely make enough money to cover nursery fees let alone save for a pension. I do have a plan to pay back into a pension but it's going to take a few more years to get established.
DH has a decent pension and I would get a survivors pension if he died
We have decent equity in our house and insurances to pay mortgages off completely if one of us died.
I also have a profession that I probably can tinker on with until I die if I need to - in fact I have colleagues who have done so.

35 and have nothing for my pension. Don't even own my house. I try not to think about it - scares me. Unfortunately I have debt to clear as a priority. Hoping for a miracle

I’m nearly 40 and have £450 (minus the admin fees) in my pension. I started it in Autumn last year after reading all the posts on here with people worrying that they didn’t think their £200,000 or whatever wasn’t going to be enough to keep them in the kind of life they were accustomed to. For the amount I will get back each month when I retire I’m not sure it’s even worth bothering tbh.

Me.
Will have worked for the nhs for 39 years by the time I’m 60, 25+ of those as a consultant
They forcibly migrated me to the rubbish new scheme a few years ago so I’ll pay a hideously large penalty fir every year o go before 67. Will wipe out well over half of my pension pot if I actually live long enough to draw it.
Quite simply shouldn’t have bothered paying in at all.

My grandparents worked all their life, saved, payed into a pension etc and after my grandad died, my nanna sold the house and rented a flat in supported housing. Last year at 92 she was diagnosed with alzheimer's and needed to go into a nursing home at £850 a week (state run, not private!) which comes out of her pension/savings. She will get some help once down to about 10k. Her and my Grandad had planned to leave the house to their children but now this isn't possible. They would have been better off spending the money /not living on such a tight budget when younger and fit enough to do so!

I am 64, have saved in a pension fund have an ISA and a couple of bonds, but, I can't/ won't be able to, use the money as my husband holds the purse strings, so can't spend any of it without his say so.
Makes me wonder why I bothered!

I don't, I'm one of those nearly 60 years old ladies who paid into a State Pension believing the lie I would retire at 60 with my pension, married to man who also paid into Sate Pension believing the lie he would retire at 65. As self employed people who could only pay class 2 and were not allowed a private pension as you need disposable income for that we have been screwed. Our NI contributions are now locked down we can neither add nor take. our money paid off the National Debt.

@Flamingle18 it's so sad isn't it, especially as the older generation really believed they would be handing things on to their families, but we all know that's rarely the case now unless you are very wealthy. Have the family looked in to whether she is entitled to a continuing healthcare payment? I'm not sure if alzheimers is included but one of my elderly family members gets about £155 a week towards her care home fees paid for her due to her issues.

I have an NHS pension but I don't understand it so I've no idea what's in my pension in reality.

@TitsInAbsentia it is really sad! I wish they had gone on more holidays and just lived a little less carefully! I will mention that to my Mum, thank you

Joloh I would have probably worked at least another 15 years had I not fallen ill & would have gone back full time as my son got older, my pension would probably have been 50% higher than it is now at least.

I have a council one as I work for the local council only been paying since last Jan and I have the odd one from a few other jobs with a couple of £100 in

About £30k total - I’m 41. Planning to downsize my house when the time comes as we live in London - very unfashionable London but still benefit from daft prices.

I won’t inherit anything but DH’s parents may leave him a decent amount if they don’t need to sell up to pay for care.

I’m a bit head in the sand about it all.

For those who are SAHPs, have a partner and can afford it, I'd suggest the DP pays into a pension for the SAHP. As well as having a pension in their own right the DP will receive tax relief. It's so important to have a pension no matter how small, the government won't look after you. When I was young I resented paying into my occupational pension but now as a WASPI woman I'm so glad I was able to retire before 66.

45 without a pot to pi## in pension wise! Maybe we should swap details so we can all house share to save money in our dotage? 😲

I am just 60 and in LGPS, I have 23 years contributions. My statement last April said if I took pension at 60 max lump sum of £37k and just under £500 per month. There was also figures for 65 which I can’t remember and 67 max lump sum forecast to be £85k and £700 per month.
I wasn’t planning on working until I am 67 but these figures are making me think I should. Unless VS is offered - I will snap their hands off if that is the case.

It's so interesting to hear everyone's situation, I'm 36, have a mortgage that will be paid off before retirement and currently have £100k across 2 pensions.

45 without a pot to pi## in pension wise! Maybe we should swap details so we can all house share to save money in our dotage?

It's not such a silly idea. It would share housing costs, no one would be isolated or bored, we could share out the cooking duties so no one ended up living only tea and toast and we brew our own gin.

Im 28 and started mine 2 years ago (workplace pension). Has about £3000. In the beginning i was only paying in a tiny amount. Now a total of about £120 per month goes in. Hoping in next few years ill also work up and get higher paying job that will allow me to afford to put aside more

DarlingNikita

That is just pension pot and some other savings as well

A pensions plea to anyone considering divorce and particularly relevant to anyone who may have missed out on contributions to raise children or other caring responsibilities, do not forget to request a share of your STBXH or STBXW's pension and tick the appropriate box!

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;

Private sector job here. My employer contributes 3% to my pension which is a defined contributions scheme. What % does the Civil Service offer? Is it a defined benefits scheme which rarely exists in the private sector?

Privilege days? What are those?

Annual leave - in all my jobs , I have never had more than the standard 25 days' annual leave. How much leave do you get in the Civil Service?

I have quite a bit because i max as much as I could i have 2 one AVC pensions only because my dad was a chartered accountant and instilled the need for a pension.
Unfortunately due to.my soon to be divorce .Im not so sure what will happen as I know stbx never cared to pay into pension fund.
One reason why i have paid a lot into my Avc is because I have a special needs child and am desparate to provide for her future.
Hoping the judge will see this as a reason why I do not need to share my pension.

I’m in the same situation.

Late 30’s, no property or status symbols and a very basic pension.

Unless I manage to win the lottery, which I consistently forget to play, I’m likely to have an extremely poor and boring retirement, should I ever live long enough to retire that is.