I can remember all the changes in state pension ages when I was just setting out in to the working world. In 1995 the state pension age was equalised for men and women and as a bright young 19 year old this made me think.
From about then I decided it would be easier to assume that I would not get a state pension at all. In my simple naive mind I planned to have enough stuff that I would not need it. A simple plan which I have largely stuck to. Now I am far closer to the state pension age that I was back then I think I might just make it and get one. After all it is triple locked thanks to Osborne and politicians are playing chicken with the lock to see who caves in first it seems.
They all must know that it cannot survive too much longer with aging populations and a stagnant economy.
Landlords of course call their properties their pension and for those of us close enough to almost smell our state pension you will soon breathe a sigh of relief. What about your kids though? Grandkids? No chance! The triple lock will never last another 60 years.
I wrote about pensions not too long ago and about how landlords can still pay in to pension even without having earned income. I did’y mention the fact that you can pay in to a pension for minors though did I?
Yep! £3,600 gross per year which only costs £2,880 net (so an immediate tax uplift). Should you though? Good question and that is one for a chartered financial planner. Your kids might not be too happy if their pension is absolutely sorted but they can’t pull together a deposit for a house.