pension advice?

[morleyposty]

received the pension pack this morning asking me how much i would like to contribute.

not sure if i should pay the highest %?
whats the future on pensions & RM?

i have no debt/nor mortgage

what should i do?

[Dogs of War]

Don't go into it. Go for a private pension.

[Lincox]

Sorry Dogs of War, but that is not sound advice. The cost of paying for the benefits of RM pension even in its watered down form would be way in excess of the 4.8% (6% - 20% tax relief) that it costs a postperson at the moment. The cost would probably be somewhere in the 20%-30% region. Even though I have every sympathy for the feelings within Royal Mail at the moment with regard to the way we arestill and have been treated by management, it is still very much beneficial to be a member of the pension scheme while you are working for Royal Mail. We all know that there is a huge deficit in the funding of the pension scheme, but either Royal Mail through extra funding, or a buy out by the government will have to happen either inside or more likely outside of the future agreements.

[RobertT]

The general advice for anybody who has the opportunity to join a company pension scheme where the employer contributes money is to take it as it's free!

[belle smith]

defanetly sign up. You could rephrase your question along the lines of......Should i take my full salary, or not bother and work for less money than my workmates.

ps. Work related pension schemes are allways better than personal pension plans. ALLWAYS!