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Conservative women and pensions

I’m kicking myself that I shall be away next month when this important pension summit is held by the Conservative Women’s Organisation. It is such an important subject, one which fills me with dread if I think about it very long.

In fact, I tend to shrug it off and leave to my husband to sort out because the fact is that I have very little pension to look forward to. I gave up my job to be a full-time mother to two fine sons and never thought that far ahead. It’s not a sexy subject when you are in your 20s, and I have a hopeless head for figures.

I’m sure I’m not alone and the CWO quite rightly believes that meeting the needs of women’s pensions presents an increasing challenge for the future, while addressing the requirements of those already retired. We are, after all, expected to live much longer, and look at the mess it is in now.

The summit hopes to learn more from women about their present problems and future concerns, with the aim of helping to formulate policy. It is being held in the House of Commons on the morning of Wednesday, 13 June, with Philip Hammomd, Shadow Secretary for Work and Pensions, and MPs Maria Miller (pic) and Nigel Waterson there to listen and learn.

Places are limited and anyone interested in attending should contact Elaine Hall at elaine.hall@conservatives.com.

Have you planned well ahead for your pension? How long do you plan to work for?


17 Comments

  1. Snafu, I don’t surprise you worry about it until the time times when you stop working.

    Serean, you sound like you have made some sensisble decisions on this.

    Louise, I think a property must be the answer, the future is so uncertain on this issue.

  2. Apologies for the double comment. Must learn to use computer….

  3. My employer closed the (now dangerously sinking) pension scheme just as I started working for them. In my five years working for the Conservative Party no-one ever mentioned pensions to me. Nor, in fairness, did I ever bring it up either.

    I now have a very small pension from my current employer, but I will be relying on getting onto the property ladder and selling up when young then down when older.

    I am concerned about my pension but my first concern is getting that first step onto the property ladder first.

  4. My employer closed the (now dangerously sinking) pension scheme just as I started working for them. In my five years working for the Conservative Party no-one ever mentioned pensions to me. Nor, in fairness, did I ever bring it up either.

    I now have a very small pension from my current employer, but I will be relying on getting onto the property ladder and selling up when young then down when older.

    I am concerned but more concerned at the moment about getting onto the property ladder first.

  5. Ok, I’m 25 and I’ve had a stakeholder pension since starting my first post-Uni job almost four years ago. It was only because the employer was keen for us to sign up and the bank did a good job at explaining the benefits of starting a pension early that I signed up. I’m glad to have gotten the retirement plans started and as the stakeholder’s really flexible, I can stop and start contributing quite easily. Didn’t feel brave enough to ask when they thought my generation would be able to retire (ha ha)

  6. Retirement!?! Private sector workers will be expected to work into their 70’s by the time 20 and 30 somethings retire to pay the pensions of people like Jim! I also suspect the NHS will no longer be free at the point of need when we need it then either!

    The practical solution Ellee is not to worry about your pension and definitely not save for it! Means tested pension benefits penalise the thrifty whilst rewarding those who don’t put any money aside!

    If you do insist on saving for your retirement, you are still forced to buy an annuity by the time you are 75 ensuring that the pension fund keeps the balance on your death rather than your family! Gordon will no doubt have his share too, after you’ve paid for your nursing care fees that is!

  7. I am hopeless a figures as well. I buried my head in the sand for a long time about pensions and superanuation..now I am behind the 8 ball with it.

    fact is witha greying population it looks as if we (in Aus) are being encouraged to work longer i.e. until 70.

    I cannot see myself retiring…

  8. Jim, lucky you, and I’m glad you can have such a great retirement and travel the world as you do.

  9. I count myself as really lucky to have a final-salary type, but I don’t think teachers and lecturers will have this luxury for much longer.

  10. I expect I will have to work till the day I die…… although I will have a small forces pension and Pay into a Tesco pension …..

  11. Ellee: You are correct. It’s certainly not a sexy subject. It sounds quite serious.

  12. Crushed by Ingsoc, I would say you need to get something sorted. We all hope for a pot of gold at the end of the rainbow, but alas, it will never materialise unless you make it.

    I owned my own house in Cambridge before I married and I wish I had kept that for my pension instead of selling it.

  13. We’ve all got to have a break sometime, Ellee. However I agree that pensions are so important. How Gordon Brown was allowed to get away with his pension raids is beyond me.

  14. Alas “crushed by ingsoc”
    we sometimes invest so much in last night
    only to find it’s all gone in the morning
    and when we forget to invest in tomorrow
    thinking tomorrow will look after itself
    we find tomorrow (and retirement) is but a day away

  15. lol Elle,
    if you are not happy with your poor ‘x’ pension
    you could just have an ‘operation’
    and change your pension for a richer ‘y’ one.

    After all it seems you can change just about everything else in modern liberal Cambridge.

  16. I have no pension plan, I’m afraid Ellee. It’s just that’s when you’re young there always seem better things to spend your money on. Like many of my generation, I keep hoping one day I’ll get rich enough to invest in something that will support me when I pass on.

    A pipedream, I’m sure.

    I think it’s true for a large number of people though.

  17. Best not to ask that question, Ellee. I wonder how many are fully covered?

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