to think too few people worry about pensions ...

[redskyatnight]

Was chatting to a group of friends (and friends of friends) the other day when the subject of pensions came up.

Only about half the people there (all in their 30s and 40s) had any sort of pension. Quite a few of those said that they didn't pay in as much as they ought to.

Of the others, the reasons for not having one varied from - not wanting to think about it, assuming the kids would support them, relying on inheritance (!), wanting to spend their money now and let the future take care of itself etc.

Maybe I am unduly worrying (I was in the "have a pension fund but don't pay in as much as I should do" group) but I'm astounded that so many people have effectively closed their eyes to saving for their old age. The state pension isn't going to be much to live on, and can we really rely on other sources of income just materialising from nowhere?

I do appreciate some people genuinely have no money for a pension after essential bills, so am talking about the people who do have disposable income but choose to spend it elsewhere.

Hmm, glad you have heard something. Maybe your FA hangs around MN?!

I applied for the state pension forecast a few weeks ago. Hurrah!

I've emailed the pension advisory service about SERPS. They say they take up to five weeks to reply!

I'm glad that you are sorting your pension out mp and I hope you turn out to be better off than you thought.

LG I wasn't trying to contradict you or anything :smile:

Two things worry me

1. State pension is not a lot to live on, even today, yet alone what may happen in the future.

1. The burden of providing for the ageing population will fall on our children and their children through ther taxes.

So we need to put by whatever we can. (every little helps)

I worry that whereas social services / NHS used to look after people, anyone who has saved, bought a reasonable house, etc, with the aim of passing them down, will be 'hit' to repay anything they need in the way of care.

It almost encourages "living for the now" by eating drinking and being carefree about money, as any savings might never be seen by relatives.

I've only (older) sisters surviving me, plus their children and grandchildren, but if (big if, MP!) I do manage to make some millions, you can be sure I'd not be saving it all but spending plenty and passing more on to them (more to their children), so they can improve their situations, and putting money into trust (ie guaranteed to go to the grandchildren) etc, so most cash cannot be touched for any care costs in later life.

Horrible, to sound so mercenary, but seems to me that many of today's politicians and policy makers will have already started trust funds, so their descendents will survive OK, whatever care costs the current ones lose from their estates.

Leningrad, I too have difficulty locating on trustnet the precise fund class I have invested in. So you are not alone.

Regarding your link, it could be that the CTF might not actually be represented on trustnet but I would go for class 'A' rather than 'B' as a rough basis for comparison.

This is because I believe 'A' is the retail fund with lower initial/subsequent investment thresholds (£3,000/1,500) aimed at small investors like you and me with fee structures more in line with the CTF. Whereas 'B' looks like the institutional fund aimed at corporate and professional investors with much higher initial/subsequent investment thresholds (£500,000/100,000).

I got this info from the link to the simplified prospectus on the right hand side of page you linked to: scroll to just past the halfway mark on that pdf for the Fund Information Supplement to the Evergreen Fund.

The CTF obviously does not have minimum thresholds for investment so it could be that it exists in another share class that is not represented on trustnet or described in the prospectus (which makes it clear new classes of share can be issued). But for the reasons stated above, I take class 'A' to be more representive of the CTF than 'B'.

Hope that helps and I am not talking out of my proverbial.