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AIBU?

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Original poster

To think we are heading into a pensions disaster

605 replies

She11y · 25/03/2025 20:03

I asked ChatGPT what the median pension savings were for someone in their mid 40s and I got the below reply:

Ages 35 to 44: The median pension pot is approximately £30,600.
• Ages 45 to 54: The median pension pot increases to about £81,200.

This website has a similarly sobering statistic - average pension pot for 50-59 is £96k.

https://www.nutsaboutmoney.com/pensions/average-pension-pot-uk

These are averages and the number will be brought down by some people who have zero pension savings but it's still a very low amount.

How are people going to survive retirement. There aren't many jobs for people the wrong side of 50z

What's the average pension pot? (UK by age) - Nuts About Money

Not sure you are saving enough into your pension? Here’s the average pension pot and how much you really need to retire.

https://www.nutsaboutmoney.com/pensions/average-pension-pot-uk

OP posts:
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5
Backgroundnoises · 29/01/2026 20:47

A lot of the shit show will be that there will be a whole generation with significant numbers still renting when they get to retirement. The benefits system will not be able to support those who can't cover the cost of those rents out of their pensions. I can only live on my pensions as my mortgage is paid off and I'm not having to find £1300 a month in rent.

123teenagerfood · 29/01/2026 20:48

TizerorFizz · 25/03/2025 20:31

Fees can be via the loan. Paying up front with no pension is madness.

Government employees are still having great pensions. At the expense of all taxpayers in the future. Our DC are truly f-cked. Millions of people don’t have decent pensions but will be paying for platinum ones for others.

I work in local government and i can assure you that we do not have platinum pensions. Maybe 25yrs ago, but that has long gone. You need, and many others, to stop believing this rubbish.

123teenagerfood · 29/01/2026 20:55

AmandaHoldensLips · 25/03/2025 20:59

Public sector pensions are a total piss take.

Sick of hearing this, its just not true, we pay in a high % of our salaries and work for considerable less than in the private sector. My equivalent post in the private sector paid me £20k more per year, i had a fancy company. The public sector offers a better work life balance for families, at a lower wage. Golden LG pensions are a fallicy.

123teenagerfood · 29/01/2026 20:59

Userlosername · 25/03/2025 21:22

Contribution rates are tiny for public sector pensions considering the benefits. The employer contribution is equivalent to at least 25% to 30% of salary. You would never get that in the private sector

Show quote history

My public sector employer pays in 6%!

MouldyCandy · 29/01/2026 21:05

Spodemultiuser · 25/03/2025 22:00

Agree.
Most of my savings are invested in fixed rate bonds, ISAs etc
Recently I’ve put some in 7% fixed rate 5yr bonds
So £500k ( as your example ) would give £35k / yr. ( before tax )
When I retire I will live off some of the proceeds of the interest of investments as I have unsecure private pensions. Of course atm savings like this are doing really well but interest rates go up and down.
Savers and pensioners with private investments are always at risk and it isn’t right that those who have public pensions are secure because the tax payer has to pick up the shortfall if things go pear shaped. When the rest of us lose everything, but that’s why I have never just trusted pensions.

If you can take some money out of your pension i would invest it.

Show quote history

Can you provide more details on your 7% bond please.

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