I've inherited a considerable amount of money

[Back2Black]

And decided to divide it between my DCs without their knowledge.
AIBU?

I'm a single parent. 3 are uni / just finished & one at senior school. The plan is to put the money in trust equally between the 4 DC until they each turn 30.

The reasoning is, my mum died when she was younger than I am now & my dad not much older than I am. So I thought my inheritance should skip a generation & go straight to my DCs.

Is this fair?

It will. No government would ever have the balls to get rid of it. My aunt was predicting its demise in the 1960s when I was about ten. I’m drawing mine now.

I think there would be anarchy if the people who have paid into it for years don’t get a pension.

Maybe they will means test pensions too in future though.

The age to access state pension will keep going up, I'm 42, so will be 68 before I can claim it. That's how it will be taken away. Not by ending it, by reducing access to it.

The answer’s in your hands - don’t vote for any political party that proposes that.

If people don't get pensions in the future I think that will be enabled by the spite of young people who will shoot themselves in the foot with their complaints about pensioners.

Exactly - the age will gradually be increased so the number of people and length of claim will be reduced.

I'm inclined to say YABU. Yes, you could certainly do that if you want. But might it make more sense to stay in control of the money for now and invest/save as appropriate and then reassess as and when kids turn 30? Maybe you will need it. Maybe circumstances will change. Maybe things won't be as you hope when kids turn 30. Eg. Imagine if one is in an abusive relationship or planning to get a divorce but then partner is entitled to some. They are all a long way off 30, so seems silly to me to tie yourself to something now when you don't know what circumstances will be like when they are older. If you were to die before then, all of you money will be split between them anyway

Why would that happen? The current generation of pensioners is massive and making the greatest demands on the system it will ever see. Logically demand for pensions will only go one way from here on in. As we all die there will be far fewer new pensioners coming along to replace us. In 20 years time the youngest boomers will be nearly 80 and the numbers will be on a downward trajectory.

Why? Because we can’t afford the pension bill even if numbers decreases.

It’s already happening, it will simply continue.

We clearly can afford the current pension bill because millions of us are receiving pensions. Why would you (I’ll be dead) not be able to afford a much smaller pension bill in the future? It’s completely illogical.

Are you looking for a pat on the back?

😂