Are Pensions a big rip off/

Subject: Are Pensions a big rip off/
From: Rt Revd Sir jOhn from Hull
Date: 12 Feb 04 - 01:25 AM

Heloo, i took out a persional pension plan with Abbey Life , in 1996, wehn i was 18, the idea was, my national insurance money goes to them, [towards my pension], i just got a pension statemenetnt= my pension fund is worth £200 quid, i pay it for about 20 years , and its worth 200 npotes, waht sort of rip off scheem is that then?

AND=they have they fiuckingf cheek to ask if i like to make another pansion scheeme! [a dfferent one!
[Dear mr john, why dont you make an extra pension with us, so we can rip you off a bit more, its easy, just give us your bank number, and we take your money every month]

tyhey must thghink im bloody stupif!

anyway=i'm going to find out were they are, and bern theree offices down, bloody fiddling bugers.

[dear abbey life-if you like to soo me, try it then, i skint anyway, so just get lost.john

Subject: RE: Are Pensions a big rip off/
From: Rt Revd Sir jOhn from Hull
Date: 12 Feb 04 - 01:26 AM

this is bs thread.john

Subject: RE: Are Pensions a big rip off/
From: Rt Revd Sir jOhn from Hull
Date: 12 Feb 04 - 01:30 AM

i tgjink they based in halifax, not sure really, i threw the letter away, anyway=dont deal with them=, therere a big rip off.

Subject: RE: Are Pensions a big rip off/
From: greg stephens
Date: 12 Feb 04 - 03:36 AM

were you really 18 in 1996,jOhn?

Subject: RE: Are Pensions a big rip off/
From: Bobjack
Date: 12 Feb 04 - 04:06 AM

Was he buggery! 1986 more like.

Subject: RE: Are Pensions a big rip off/
From: Linda Kelly
Date: 12 Feb 04 - 04:19 AM

No they are not-the idea is not to look at how much you put in, but how much you are likely to get out. even though annuity rates have dropped, yor life expectancy has increased dramatically since you took it out and your pension will have to last longer. You also get tax relief so stop moaning and buy me a pint! thanks for the lift the other day.

Subject: RE: Are Pensions a big rip off/
From: GUEST,weerover
Date: 12 Feb 04 - 07:29 AM

jOhn,

depends on where you are. If in France, probably some are and some aren't: don't know meself 'cos I've never lived in one.

wr.

Subject: RE: Are Pensions a big rip off/
From: Dave Bryant
Date: 12 Feb 04 - 09:49 AM

Do you expect to last to pension age, jOhn ?    :-)

Subject: RE: Are Pensions a big rip off/
From: Noreen
Date: 12 Feb 04 - 10:57 AM

yor life expectancy has increased dramatically since you took it out
Really, Linda? What was jOhn's lifestyle like when he took it out then??

(jOhn, look at what they forecast you will get when you retire, not what it's worth now.)

Subject: RE: Are Pensions a big rip off/
From: weerover
Date: 12 Feb 04 - 01:50 PM

jOhn,

I will qualify for my pension next year, albeit early (I'm being made redundant along with 1,000 others). I really grudged when I started paying in at 21 (27 years ago!), but it looks like an attractive cushion now.

wr

Subject: RE: Are Pensions a big rip off/
From: Linda Kelly
Date: 13 Feb 04 - 03:09 AM

Noreen-John is already 102 years of age and well into retirement -the fact he has not drawn his pension yet is because he can't find the paperwork.

Subject: RE: Are Pensions a big rip off/
From: mooman
Date: 13 Feb 04 - 09:52 AM

Yes they are jOhn!

I paid into on for heavens knows how long and then had to cash it in in a hurry as its value was approach zero quickly.

In fact with the various scams and havoc banks and insurance companies have played with my very hard-earned cash over the years (it WOULD have been worth more under the proverbial mattress and I CAN prove that), I am going to revert to buying rare vintage musical instruments again which do still seem to be an investment! Some of these scoundrel organizations are the modern-day equivalent of the old highwaymen but without the scruples. (I'm sure Linda's is an exception, at least I'd prefer her as my bank manager!)

Hurrah for G.A.S.!

Peace

moo

Subject: RE: Are Pensions a big rip off/
From: John Routledge
Date: 13 Feb 04 - 08:00 PM

In the "good old days" you worked for 50 years and got less than 10 years pension before you died ie 5yrs working for 1yr pension.

Until recently we were looking at 40 years at work followed by 20 years of pension ie 2 yrs working for 1 yr pension.

Not surprisingly,even in isolation, this is causing problems.

Subject: RE: Are Pensions a big rip off/
From: Linda Kelly
Date: 14 Feb 04 - 06:20 AM

darling moo-good luck with the instrments-th problem is if 60 million Britons bought vintage instruments to supplement their living into old age then their may be a flood on the market and the value would fall. There are always individal solutions, but frankly the only one that I can think of that will work is that you take out a pension, or start saving on the very first day you get a job, and you don't stop until you want to retire.

Subject: RE: Are Pensions a big rip off/
From: Rt Revd Sir jOhn from Hull
Date: 22 Aug 04 - 10:56 PM

there was a program on telly the other day, saying how banks are a big rip off, i dident see it all as besause i was at work, and it said banks make millions, and most of it is from ripping people off.