The second video in our three-part series explains in jargon-free language how final salary (defined benefit) and money purchase (defined contribution) pensions work.
@ killikFinanceVideos there is something called pension obligation and in some balance sheet the pension obligation is under asset so how can this contribute as asset??
i stopped paying into my pension in 2014. my pension plan has been moved to different companies on many occasions. i am currently 49 years old and would like to know how i can cash in my plan or withdraw from it. by watching your videos and others, are pension plans really beneficiary to people as it seems the government receives more from it than the individual.
Not everyone pays in but are entitled to a pension in the same way they are housing, UC, NHS, among just a few, then there are private pensions that you can cash in early before you're 65 and these further disable you to other benefits, so not everyone pays into the system, I have only paid in for 40 + years
Thanks for that Tim. Been watching too many Adam Curtis documentaries and The Keiser Report along with having lost most of my savings in banking shares back home in Ireland has totally put me off investing again & just been saving for years without a proper pension. So much global debt, QE, fractional reserve banking, a housing & market bubble is enough to scare anyone off. :(
Pretty much completely disappeared. Checkout the history of Irish Life & Permanent. Somehow the number of shares got diluted from 300 down to 3 by those in charge. :'(
Killik & Co why don't we just pay tax upfront on our contributions and anything that's in our account can be withdrawn tax free? by paying tax when we retire we are securung a nice chunk of money for the government. What if tax liability will increase over the next decades? instead of paying today's income tax we are gambling our money away for futures increases in tax... could you please dwell on this? why don't we have the option to pay tax now and forget about it when we retire?
hello killik I am British but I live in Mozambique with my family all British and we intend to go back to UK and my parents have already reached retirement age will be able to receive the pension from the state if we go back to uk.tanks
Mohamad Seedat you need 20 years of National Insurance contributions to qualify for the state pension. So if they have not been paying tax in the U.K they won’t be eligible. If they are British citizens then they will still be eligible for housing benefit, attendance benefit and many other things that OAP’s can get in the U.K. such as free travel cards. The link below has information on what they could get. www.ageuk.org.uk/information-advice/money-legal/benefits-entitlements/
Did you know: *The government in Poland confiscated pensions to reduce sovereign debt. *Portugal also requisitioned pension funds to reduce the mountain of debt. *Dutch pension fund lost 140 billion due to the stock market. And many more reasons we have to decide on and control our money supply. We are the change, real power and value. Become co-owner, only when acting we can achieve what we want. Become co-owner of the cooperative society-centric bank in formation at bofjoy.net/participate
