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  1. #1

    Taking my pension at 50

    When i joined my pension scheme if i wished i could take the benefits at 50. As we all know this has been changed my those wise people in suits who know all, to 55. I wonder is this act an act "against my human rights". I don't see how it can be lawfull to change the rules, yes from say all people joining say "today" or contributions to a plan "today", not value from passed contributions. Very cross about the situation, you work most your life then your told you need to work some more, then you die "great".

  2. #2
    And another point I would like comments on, what is the point of making people work longer while at the other end of the age scale there all out of work claiming benifits. the government has to pay out either way so why not leave the retirement as it was and give the jobs to the unemployed who are desperate for a job. i just don't see the logic.

  3. #3
    Unfortunately the Government has a lot of power I'm afraid. If you had a contractual right from your employer to take a pension from 50 without consent needed then you can keep age 50, otherwise you are stuffed.

    Just to add insult to injury Mr 'Fred the Shred' Goodwin was just in time to get a super high pension at 50 before the rules changed.

  4. #4
    If you can afford to fight it in the Courts through UK and Europe then you don't need the money. You could try a consumer group to see if they will sponsor a test case, but as has been shown recently, the Government seem able to increase State Pension Ages and change RPI to CPI for pension increases at a stroke.

    It seems daft to let youngsters suffer in unemployment whilst those in their late 60s carry on working, but why should they be prevented from supplementing a small pension, or doing something they enjoy? We will all be old one day.

    Things will get better.

  5. #5
    The world is slowly over populating and everything boiles down to mathamatics, the more people thier are the more jobs that will be required, the more homes required, the more money required. the more the governments will need to sustain it all.

    The world is on a financial slippery slope that it can not recover from. What would happen if all the investors took back thier funds and buried it?
    It would be a financial catastrophe. Thier would be no pensions to be had.
    The financial world relies on investments to survive.

    All we can do is try and do the best we can and be grateful for what we have.

    Nobody will ever beat the hierarchy, whoever or whatever it is.

  6. #6
    Actually these powers over us are held by a handful of small men.

    We are in the millions, and the grey pound gets more powerful

    We need one massive pressure group that says to these pirates who rob our funds - no more.

    They need a shock

    Labour has had its shock by being sacked. They wont learn any lessons as they are full of grey men and grey ugly women. They will work constantly to steal our funds by whatever method

    The Con libs are in theory on our side, but in reality will take our money by whatevver means. A turd in a blue suit or a brown suit is still a turd

    We need to vote them all out next time and vote for whoever will treat us as masters rather than servants.

    In theory there are enough people to do this especially if everyone votes. Unfortunately the country is full of sheep - proles who dont care who runs the show.

    Other countries are rising up against the thieving maniacs who ran their coutnries. One by one the dominoes are falling.

    Eventually we will say no more.

    Short term do we take our 25% tax free before they cut it. Thats my latest worry for the wall??

    Dont waste your money putting it into pensions where the govt can steal it (as has happened even in the USA in the past - a stroke of the pen and they nick your life savings. Keep it accessable

    if around 50 grab your 25% tax free and drawdown the rest.

  7. #7
    I have posted this before but as an experienced SIPP / SSAS Administrator I would say there is only one reason the government would suddenly decide to rename 'Tax Free Cash' (TFC) to 'Pension Commencement Lump Sum' (PCLS) and that is because it will no longer be tax free at some point in the future.

    I am a long way off retirement, but having said that if I had the option I wouldn’t think twice about fully crystallising my benefits and getting what I could out the pot!

    The Government will surely be looking to claw back any tax breaks they can

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