Pension Pot

[DTKOAG]

What is regarded as a decent pension pot ?

 

[west didsblue]

What is regarded as a decent pension pot ?

1 million.

 

[mayo31]

Enough to eat and heat at this rate

I don't mean eat well either.

 

[Blue Til Death]

1 million.

Fuck I’ve only got 9 years to save another £800,000 :-( I’ve probably spent that watching City the last 50 years ... :-)

 

[jacko74]

How do you actually calculate what your pension ''pot'' is?

All the forecasts for my works pension just show the (pitiful) amounts that I'll get per year at 60 or 65.

 

[west didsblue]

How do you actually calculate what your pension ''pot'' is?

All the forecasts for my works pension just show the (pitiful) amounts that I'll get per year at 60 or 65.

As a rule of thumb it's what you'll get per year multiplied by 20.

 

[BlueMoonRisin’]

What is regarded as a decent pension pot ?

Ask Robert Maxwell.

 

[The Northern Baptist]

Depends what you want to get up to during retirement I suppose. £600k would probably give you just over £30k ish

 

[SWP's back]

1 million.

:-)

Yep and drawdown 5% per annum whilst leaving the rest in a cautious portfolio. Lose about 1% to capital erosion each year and should easily last you for life.

 

[SWP's back]

As a rule of thumb it's what you'll get per year multiplied by 20.

20 to 50 at the moment. Depends on the scheme. Just had a 54x.

Won’t last though as 15 year tilt yields can only really rise.

 

[dickie davies]

What is regarded as a decent pension pot ?

At what age do you plan to retire and what income per year do you want to achieve?

 

[ganganvince]

Pot has lost 4 percent over the last few weeks given all the crap going about i have moved 1 more into cash to protect it (simply move my predicted retirement age online to within 12 months)

 

[andyhinch]

Pot has lost 4 percent over the last few weeks given all the crap going about i have moved 1 more into cash to protect it (simply move my predicted retirement age online to within 12 months)

I just view it as a long term thing, got no plans to use it in the near future.

 

[Deleted member 77198]

Depends how long I’ll live for

 

[Millwallawayveteran1988]

Depends on retirement age and income requirement really.

 

[sky tot]

How can you view your pension pot ? I get a yearly statement and that’s it . Next statement isn’t due till June

 

[hampshireblue]

I've been in drawdown for 5 years. My pot still has more in than when I started. Reducing fees is crucial as is forecasting what income you think you'll need. Whatever you think you need, add 30% and if you don't spend it stick it in an ISA. Also if you're not over the Life Time Allowance, don't forget to put £2800 in at the start of each tax year to get your free 25% added by HMG that you can withdraw.

 

[denislawsbackheel]

And don’t forget even non tax payers can use the £2800 ruse.
My Mrs has used it every year since it became possible.

 

[ganganvince]

I just view it as a long term thing, got no plans to use it in the near future.

Mine is probably going to be needed sooner than yours semi retired last year plan on fully retiring next.

 

[RobMCFC]

I'm aiming for a total of around £350K in the next 8-10 years.

Currently got about £200K.

I never put too much in because you've always got to have one eye on the here and now and balance this against the chance that you might not make it!