Young Man
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Generally yes they are. This is because....
....unlike other saving schemes a pension is non-taxable.
In the long run this would save you a considerable amount of money as opposed to just investing the money in equivalent shares or saving accounts, etc.
There are different types of pensions and you should shop around for the best deal that suits you.
Remember that pensions are good because they aren't taxable. They can also be a good way to provide an income for you when you retire.
But make sure you are happy with what your pension is being invested in as some investments are more risky than others (this applies to any investment and not just pensions).
And remember that the actual pension you recieve will depend on a number of factors such as:
+ how much you pay into it before retiring.
+ how long you pay into it for.
+ the investment return achieved on the pension fund
+ the value of long term interest rates when you retire.
+ other factors, etc....
I am not advising you! |
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xenon
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Put your money into property. That was the advice I was given years ago. I am so glad I jacked my pension in years ago, it would buy me a cup of coffee now if I had held on., An old friend of the family said........ Buy land son , they have stopped making it !!!!!! |
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roy d
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Read the article in the 'Your Money' section of yesterday's Daily Telegraph (via the web also!). There was also an article on annuities to keep you interested! |
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Michael K
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The primary benefits to investing in a pension rather than investing by yourself is in the tax implications. First, you are probably investing 'pre-tax' dollars, i.e., the amounts that go into your pension are not taxable to you. Second, dividends and gains in a qualified pension plan are not taxed when incurred, but only when you take the money out, and usually at a lower rate because you are retired and not working. Tax-free investing is better than taxable investing. |
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Roy J
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Have a pension by all means but don't rely on it. The govement will want they share as will the managers of your pension and what your left with may buy you a cup of coffee lol
Save you rmoney it cost less and the return is all yours. |
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dutch_luvs69
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YES MINE - SEND MONEY AS SOON AS POSSIBLE AND TY IN ADVANCE . |
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crude_oil
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I think a 401k where your employer matches a portion is worth it. Fewer and fewer companies are offering traditional pensions because there are so many temps and no sense of trust between worker and employer that they don't even bother. |
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dcgirl
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Please post what country you are from, as the pension systems are very different in different parts of the world!!! |
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Franco
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It depends which country you live in and whether you have an employer or are self employed. |
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kevie
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Its worth sitting on? I Gave you two proper answers and u take the piss thanks for the two points yourself!
Kev sitting on his cream scuffed couch.
Make this the 3rd Answer to you.
Pensions are no longer worth investing in unless you are within 15 years of retirement age being 65 (Unless Professional,Govt etc retirement age being for eg police 50yrs of age on average.
see financial ad visor or your ringmaster in the "Big top" Clown.
Hope u sort your life out.
Kev |
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fitzbaby2003
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no, they move the goal posts every so many years so they claw it all back. save as much as you can and avoid financial advisers
who charge a fee. invest on the safe margin line as it is after all a pension your after not a get rich quick scheme |
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David T
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Anyone qualified to answer that question will not answer it with out more information.
Any one answering it will not be qualified to answer it.
Anyone qualified to answer it will have a pension.
I hope that answers your question. |
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