From: "Andy Pandy" 
Newsgroups: uk.finance uk.gov.social-security
Subject: Re: Pension planning
Date: Fri, 8 Apr 2005 18:35:30 +0100


"Martin Davies"  wrote in message
news:Wgy5e.42127$C12.2945@fe1.news.blueyonder.co.uk...
> An option you might want to try is to stick money by regularly (perhaps
> cutting into luxury money if necessary) and invest it. Perhaps one of you
> into an ISA linked to stock market and one of you into another type of ISA -
> so benefitting from not paying tax.
> Force yourself to build the funds and not dip into them. If you can't resist
> the temptation to spend & spend, then its not a good option for you.
> The end result though can be a pension fund the pair of you have plenty of
> control over - for fees, for risk, for rate of return (in the case of cash
> ISA). A good book to get is 'The Richest Man in Babylon' by George Classon
> (or Clason), only a short read but a good personal finance book. Written 70
> years ago or so but just as relevant today.
> That money can come in handy for buying annuity or for simply living off
> part-capital, part interest in your old age, in addition to state pension.
> And unlike pension funds, can give far better return for far less fees. But
> you do need financial discipline not to go raiding the pot whenever you
> like - something a traditional pension at least tries to prevent.

But he would be daft not to work out the effect such savings would have on means
tested benefits.

--
Andy