Shoutout to Moneybox!!

Tip 4 of 52 and we are switching our attention to pensions. This week, We're talking about increasing your contributions by 1%, providing some background and providing you tips on how regardless of if your employed or self-employed.

Thank you for this really informative video! I was just wondering, is there way to compile all your pensions if you've worked in multiple places? I've been at the same company for 7 years so that's currently all ok, but before that I was working a few part-time jobs in retail etc (the usual kinds of jobs when you're young and working!), but would have no idea about how to find out whether they even had pension schemes and/or how to access the money in said pensions! I'm also wondering... If I opt to pay the 5% into my pension scheme... Am I able to opt out of doing so at a later date? Many thanks for this video! :)

@conversationofmoney

4 жыл бұрын

Hi, thank you for the time you took to ask this question. Yes, you can compile all your past pensions into one place. There are a few providers that only you to do this. The one with the easiest process I know and have used is PensionBee. I did a review on them here on the channel and also had them on my podcast, great business, great people and they only work with pensions Here is a link to start the process with them if you wish clkuk.tradedoubler.com/click?p=299291&a=3142391&g=0 ... I transferred one of my pots to them and all they need is the name of your former employer to start the ball rolling, sign up takes between 5 - 10 minutes and the great thing is, it will all be on your phone to monitor. If you use the link I provided, I will receive a small commission for introducing you. So thank you if you do use it. With regards to opting out. You can opt-out of your workplace scheme. You would need to speak to your HR team. I hope that helps. Pete

hey mate i saw week 1 in thailand now its gone to week 4 is this correct ? cant see it could be missing something

@mattpasek812

4 жыл бұрын

i never believed in pension because of inflation so when i put in money it would not be worth the same in the future .. now when i found out it taken before the tax man get his hand on my money im putting the max i can

5% of what amt is employee contribution?

@conversationofmoney

2 жыл бұрын

your annual salary

I can't understand for the life of me why it is so hard to pay more into your pension. I have a decent government pension and have had it up and running for over ten years. I've failed three times so far to increase my contribution to it. You would think I am asking something outlandish or strange. I get given leaflets and forms and email addresses. I am told I need to choose risk levels and identify this and that and literally all I want is to bung an extra £50 a month into whatever method they have set up for myself and my work colleagues already. SImple. I don't care about who they invest it in or what they do with it. Just TAKE MY MONEY! It's driving me nuts. It does not help that the only people you get to speak to are about 12 years old and are clearly winging it and don't know what to do or say.

@conversationofmoney

3 жыл бұрын

Hi John, you’re right it really should be that difficult. Have you though about setting up a separate private pension as an alternative?

@thebestoflondon

3 жыл бұрын

@@conversationofmoney which private pension do you recommend