What a crazy thing to do they are not frozen they rise between 3%to 5% a year and are inflation proof. Far better than DC schemes

Thank you. Glad you enjoyed it!

Yes all very true, a lot of what you describe is the lifestyle investment that many sign up for when they start the pension on joining a company. Typically when you have loads of other forms to fill and are not really giving this the attention it requires. The issue with this pre set investment is as you say as you get older they invest more of your funds into more stable ( lower risk lower return funds) when we had the 15 years of low interest rates and low inflation this was ok but the last 2 years has seen these funds perform poorly although there was a bit of a spike. I was seeing my pension funds almost static for growth and the only growth being my regular contributions. Moving the funds back into growth type funds has seen the pots recover. ​@KevinOLoughlin-ys5ef

Ups and downs, DB funds offer a guaranteed income and the opportunity of a smaller pension to the spouse, and this is paid for your lifetime which could be 40 years with growth guaranteed every year. DC schemes allow the pot to pass into beneficiaries however there are no guarantees on the pot value, stock market crashes can see drastic reductions in the pot value as well as very good growth in the good years. Ideal situation is to have both, but for many a DB will never be offered

You should pay 40 ,% tax on subsided pension Or say Thankyou to all us tax payers for gifting you this

Under DC scheme rules they will do as long as the worker maximises his and the companies contribution and work/save long enough

@@guyr7351 most people will get a very poor pension under DC, that’s why companies stopped DB. I have both, and the DC one is poor, even though I’ll have been in it longer.

Which is exactly why they were dropped by the majority of companies, the funds required to maintain are massive. I have a DB scheme due to mature next Feb, I consolidated pensions schemes way back in the 90’s for my DB schemes. While my pensionable years are not huge in the scheme it would pay me £10K a year maximum. That would require me to have a DC fund value of approx £200K to provide an annuity of that level, and annuities have risen the last couple of years from the poor levels previously being offered. My brother receives a full DB scheme pension ( ex British steel) eg 2/3rds of his best average salary in His last 5 years, he did pay AVC’s his pension pot would have to be close to £1m to provide his pension via a DC scheme way in excess of his and his companies contributions.

Did you see the tv show “fix my life!”, the girl who won the lottery and did that… her mom Actually won the lottery and gave her the ticket. The girl had always felt hated and the least loved of all her siblings. All of the men and father figures for generations were or had been imprisoned for selling drugs. It’s was very interesting episode.

I was talking about Marie Holmes. @@AriseandShineSleepers

Big numbers but it depends on the liabilities under the scheme. Many DB schemes are underfunded and I guess that the plan is that employees will die, leave the scheme or when retire die early so removing their liability

@@guyr7351 It needs to average a return of less than 2% on it's investments to stand still. It is clearly not underfunded.

There is a big 79 billion excess in DB pensions now in the UK. Covid sadly helped im sure. Watch this space for Governments trying to get their inept hands on it soon

Serious Fraud Office charged two of the directors earlier this month, both due to appear in court next month. "The defendants are accused of providing those who signed up with false information, encouraging people to pay in whilst knowing that investments were not in reality backed up by the cars they had been promised."

Thanks Samuel.

Wow ! Could have written this myself. Onwards and upwards mate.

So, so important! Our identities are naturally wrapped up in our work, which is a significant challenge when people retire. I've worked with so many clients over the past twenty years who felt utterly 'lost' when they stopped working. But we're not talking enough about the connection between our self-worth and what we do. Thanks for sharing this, and I'm pleased to hear the realisation has transformed your worldview.

Do not take it out.I made mistake of closing a DB scheme twenty years ago and still regret it.Fortunately,On changing jobs I have a new DB scheme but only have a small amount in the pension pot and only an annual income of 4500 pounds when I retire so I just keep working part time and have just opened a SIPP with 1000 pounds recently . State pension age is in ten years time so I hope to continue working as part time and look for ways to add more money into SIPP and also open an ISA account. I am looking to how I could also do aditional pensin contributions with my employer .

@rachealhubert74 That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well

@rachealhubert74 I will give this a look, thanks a bunch for sharing.

Great question! Definitely no Uni or degree required. When I studied for my Advanced Financial Planning Certificate (Chartered Financial Planner) I was able to get an exemption from one credit because of the subjects covered in my Business degree, but I've employed school/college leavers who have gone straight into studying, so it's definitely not a prerequisite.

do you recommend studying finance and accounting at uni before going into this though@@themartinbamford

Congratulations on your early retirement, Interesting indeed! Currently, I am in dire need of investment advice or tips. Earlier this year, I hesitated and failed to take any action until now. However, I am determined to try something new, as I am very receptive to various investment ideas. I want to be retired in my forties or fifties.

No problem at all! If you're seeking to earn substantial profits from your investment, I would suggest determining your investment horizon and implementing a long-term plan. I worked with Lewis James Godfrey to create a long-term investment strategy, and he assisted us in managing our investments while we focused on my jobs without any concerns.

Thank you for your advice. It's challenging to find a reliable investment advisor here, and I appreciate your input. Seeing the success you've achieved through investing, I would love to have access to your investment advisor's information if you wouldn't mind sharing it.

I work with *LEWIS JAMES GODFREY,* who is based in the United States. If you would like more information about him, you can conduct a search online. He even got featured on CNN recently.

Working with a skilled financial planner can be compared to having a mentor in the field of finance. I used to struggle to invest on my own and ended up losing money, but things changed once I started working with this same man, Lewis James Godfrey. He played a pivotal role in helping me improve my financial situation. Previously, I relied solely on my job and salary for income, but now I have found ways to generate additional income with ease, which has allowed me to leave traditional employment, thanks to Lewis. Nowadays, I believe that investing is not a choice, but a necessity for anyone who desires financial independence and a good quality of life.