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MNHQ

Scottish Widows would love to hear your concerns about retirement: share now and you could win a £250 voucher! NOW CLOSED

466 replies

KathrynMumsnet · 27/07/2015 09:52

Claire Stracey, Head of Marketing Communications at Scottish Widows says:

"We know thinking about retirement is probably not front of mind, especially when you have more pressing tasks to take care of as a busy mum. Whether you’re in full-time employment or you’ve taken a career break, we’d love to hear any retirement planning questions that keep you awake at night. Have you had trouble finding clear information on your pension options? Are you confident that you’re setting yourself up for the best possible retirement?

We want to make retirement planning less daunting so we’ll be sharing stories and suggestions from our pensions specialists to help you get - or stay - on track.

So what are your biggest concerns when it comes to retirement? Let us know on the thread below and look out for pensions information for mums here; on Facebook and on ScottishWidows.co.uk."

By leaving your comment below, you’ll be entered into a prize draw where one lucky Mumsnetter will win a £250 John Lewis voucher*. Standard T&Cs apply and can be viewed here.

Thanks and good luck!

MNHQ

*Scottish Widows and The Lloyds Banking Group are not affiliated to the prize draw and accept no liability in respect of the prize draw.

OP posts:
Shiraznowplease · 04/08/2015 19:36

I pay into my company pension and have paid into pensions since I left university when I was twenty one but what worries me is that they are all little bits here and there as I moved jobs frequently when I was younger. My husband has a brilliant pension and I am hoping it will balance out my meagre one

pinklady123456 · 04/08/2015 22:08

Having enough money to enjoy it and having good health. I worry that my home and savings will be caught up in care costs.

melmoo · 04/08/2015 22:53

I put quite a bit into a pension with one of the big companies in my twenties. Twenty five years later and the money has nearly doubled. So much for the magic of compund interest. Not very impressive - I genuinely wish I'd gone out longer and partied harder.
I have more money in other work pensions too, but don't trust the financial industry at all, so I won't be banking on much there. The finanacial industry has lost credibility which is many are investing independantly for their futures and we are planning to do that. Based on that alone we will be moderately poor but above the bread line if we retire late.
I also wouldnt bank on a state pension. By the time I stop work there will be too many pensioners and I can't see politicians keeping promises made by other parties 20 years ago.

MovingStress · 04/08/2015 23:05

I would like to know how to work out how much we should be putting into our pensions. The forecasts that come with the statements appear so wildly inaccurate. But then I suppose the problem is, no one knows!!

Expect i'm not paying enough into my pension, but at least it is something!

mizu · 05/08/2015 08:18

Pay into a work pension as I am a teacher.

Don't think I will have enough to live on when I retire as I am not full time.
Don't own a home yet so worry about that too.
State pensions will probably not be around when I retire - at 67!

Marty673 · 05/08/2015 10:27

My greatest concern is the age of retirement which I can only see as increasing further in the future.

My wife and I pay into our works pensions, but we don't want to wait until we are 70 before we retire. So, we're trying to save and make extra provisions now so we can work part-time or retire earlier, but with a young family and a hefty mortgage it isn't easy.

Sc107 · 05/08/2015 13:17

My biggest concern at retirement is Money. Plain and simple. Will my standard of living drastically decrease? Trying to save for retirement is secondary to day to living at the moment.

purplediva · 05/08/2015 17:31

Whether we will have enough money when the time comes - we both pay into a pension but the facts and figures all seem a bit 'gobbledygook' at times and with the changes coming in with each change in government will we every actually reach 'retirement age' ?

tinam1 · 05/08/2015 19:42

Always worry about if i'm saving enough money to last me through my retirement.

cagsd · 05/08/2015 22:07

I actually don't have a pension at all! I paid into a company pension while I worked but I gave up work 9 years ago to bring up my family and have never paid into one since! it's one of those things I keep "meaning to get round to"
Although my husband has a really good pension with his work, I can't just rely on him. I really worry about not being able to make ends meet when we're older!

buckley1983 · 05/08/2015 23:26

I worry about not being able to retire, because I won't be able to afford to. My husband & I both have a pension, but we aren't high earners & our projected pension incomes aren't great. It's hard to save anything when you're raising a family & I can't see anything changing for us financially any time soon.
I guess we will save what we can & hope for the best!! :)

LizzieMMM · 06/08/2015 15:33

Being 59 and having no pension - don't think I will ever be able to retire

Calminacrisis · 06/08/2015 17:27

I will have ten years worth of a Teachers Pension and a paltry amount from my AVCs. Honestly, an embarrassing amount. I can't work currently and I just worry about what the future holds for me, even though I saved what I could afford when I was working full time. Most things beyond essentials will be simply unaffordable for me at retirement and I will be 67 before I can access my TP. The future looks quite bleak.

allybird1 · 06/08/2015 21:06

The government seem to change the goalposts so much on retirement age etc, it would be unlikely that when I retire there will be any provision. This makes a private pension a must for most people. ..it is just where to start?

libra101 · 07/08/2015 07:09

My biggest financial concerns regarding retirement are not having saved enough money through my working years to enjoy doing the things I want to do through later years.

There have been so many government changes these past few years regarding options to withdrawing money saved in pensions and taking an annuity, it's difficult to know where to start. Also, it's difficult to know where to go to gain the best advice.

In later years there may be care home fees to pay and funding these may be almost impossible!

Sophia08 · 07/08/2015 08:38

Being able to afford to go on a holiday.

mrshuggybear · 07/08/2015 14:10

My concern is having not paid into a pension and now having been a stay at home mum for 4 years that I will have no pension to speak of-yet there is no money spare. So we will have to rely on property value and my husband's pensions. However I don't think we are alone in this, at least we have managed to buy a house and make some money in that. So many families can't do that and for most families there isn't money to spare to put into pensions yet.

MrsKayJay · 07/08/2015 16:47

Yes, I really do think we'll be working till we drop dead sadly. In our case, we've both been paying into pensions but we've moved around so much that I don't actually know how to track all of mine. It's on my list of things to panic about, along with making a will. Logically I know it can't be hard, but illogically I keep putting it all off...

StregaNona · 07/08/2015 20:37

I worry about not having the money to pay the bills and especially of not having the money to be the kind of grandparent I would like to be.

sofieellis · 07/08/2015 20:59

I am a housewife and therefore have no pension plans of my own. I'm fully reliant on DH's pension, which does worry me.

HelenPlant · 07/08/2015 21:08

I was unable to afford to pay into a pension scheme until I was 33, so one of my concerns is not having enough to be able to retire at a reasonable age. I do not want to have to be working well into my 70s.

rejcomp · 07/08/2015 21:08

Whether I'll live that long, hope not because it'll be bleak.

Treadlightly · 07/08/2015 21:14

I had a teachers pension for a few years, then went part time and am currently out of work looking after my young family. So, my pension is going to be very very small.

jennie1984j · 07/08/2015 21:56

finances and boredom. I am a hands on person and love my work

BellaWella86 · 07/08/2015 22:17

Financial security.