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[quote][i]Originally posted by neoquip[/i] started my private pension back in 1992 when i was 18. £30 a month. two years on in 1994 the pension company told me if i want to keep on top of inflation i should be now putting £120 a month in!!!! (thats in 1994!!) so i just increased it to £50 a month and decided not to put any silly money into it. now in 2008 I had the valuation predictions what the pension will be worth when I'm 65 (in 2039) at the curren rate i'll have a lump sum of £39k and a yeary pension of £3400. now ask yourself if a private pension is worth it? I'm now planning of stopping any more payment into the private pension and instead I'll put the £50 a month in an ISA. As i can access the funds in the ISA when ever I want. The money in the pension can't be touched. IMO Unless you have a company final sallary pension with say.. BOOTS, NHS, the Council, I don't see a private pension working unless your sticking £800 a month away for somethinng you might live only one year into seeing. with pensions, the total amount you put away over the period of time you've had it will be the amount you get back as a lump sum. So you might as well look at other savings plans like an ISA. Or... Property! as I have. just my thoughts btw. [/quote]
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