I don’t currently have a pension. I worked full-time in an office for eight years before having kids but the place I worked didn’t have a pension scheme in place at that time. Now that I have two kids, I only work part-time and still don’t have a pension. I’m sort of reliant on my husband for his pension pot when it matures and of course the old-age pension, but I am now scared that that won’t be in place by the time I reach 65/68 or whatever the retirement age will be at that time. But it certainly won’t be enough, I’m sure.
I don’t think enough is done to encourage people to start pensions from a young age and of course there was lots of negative press about pensions a few years ago, so some people may not even trust them. I think we should have financial advice given to us in school or it could even be a stand-alone subject, as it’s a really important life skill.
Auto-enrolment sounds great, and if and when I do re-enter the workforce, I will absolutely stay in and not opt out.
It is scary, when you think about the aging population and what will become of us. I’m certain we will all be working till 70 and beyond at this stage. Some people may not mind that. My dad is 70 and he still loves to work, on a consultancy basis, both for mental well-being and for some financial gain, but I think it’s more about still being needed and a vital part of society. This is obviously good for society overall too, as I too do not like the idea of retiring if I don’t want to or have to. I’m one of the lucky ones who likes my work and I don’t see the need to stop at 65.
