Pensions & You: A Simplified View of the UK Pension System - Softcover

Inhaltsangabe

The route to retirement can seem like a trek through a dense jungle, this book attempts to clear a path through the complex jungle of pensions allowing the reader to clearly see and reach the final objective of a comfortable retirement. The chapters highlight and allow you to identify and mitigate the potential problems and pit falls en route that may stop you reaching your retirement goals. This work was initiated by the authors disappointment from his own private pension, which has stagnated over its closing years, losing money in real terms, and the uncertainty and low value of the resultant annuity, which apparently lost all earning power at that stage. This led to a basic mathematical study of the mechanics of the UK pension provision through simple spreadsheet calculations of the standard regular savings/contribution stage giving basic fund growth factors and a study of the elderly population decline to determine the limits of the final payment. All of these indicated sustainable pension outcome levels of twice existing practice and led to research on population and pension provision, culminating as a research association with MICRA of Manchester University. In spite of various lobbying since 2004, there appears to be a resistance to change in this area and the assumption that the additional workers pension and more contributions will fix the problems. Coupled with this there is a lack of awareness of the urgent nature of these problems and the need for greater economic efficiency. This book is an attempt to bring these problems to the attention of a much wider audience and to simplify the understanding of the UK pension system so that all in work, who pay contributions through National Insurance or now increasingly privately take an active interest to produce change. The layout of the book allows the reader to decide how much detail they wish to be involved in with overview and summary chapters at the start of the book and more detailed chapters and expanded calculations towards the back of the book. There is no intention to give financial advice.

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