This seems a good idea
- RichardCoeurdeLion
- Andalucia Guru
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Re: This seems a good idea
I'm nearly 70 and would have to pay in £20.000 to get an extra £25.00 per week, so I would have to live to 90ish to get my money back. Probably not a good idea for me...
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Gordon the Crusty....
Regards,
Gordon the Crusty....
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- Andalucia Guru
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Re: This seems a good idea
It's a rubbish deal.
If you are 65 and want an extra £10/wk it will cost you £8900.
It will take 17 years before you get your money back.
Sid
If you are 65 and want an extra £10/wk it will cost you £8900.
It will take 17 years before you get your money back.
Sid
Re: This seems a good idea
Look like an Osborne scam to me. They take a lump sum and hope you don't survive for long, and meanwhile rake in profits on using that money - they obviously hope for a lot of gullible folk to fall for it and balance the Chanellor's dodgy scheme with our hard-earned dosh! The bstrd is after our savings again!!
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- Andalucia Guru
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Re: This seems a good idea
It's not a scam, just a lousy deal.
Put the same amount into any deposit account or an ISA and you will get about the same.
With near zero interest rates there are no good investment deals.
If you want to put some money into a scheme and get a better return than that, strangely enough a good old fashioned annuity may still offer a better return.
Sid
Put the same amount into any deposit account or an ISA and you will get about the same.
With near zero interest rates there are no good investment deals.
If you want to put some money into a scheme and get a better return than that, strangely enough a good old fashioned annuity may still offer a better return.
Sid
Re: This seems a good idea
What I don't understand is if people have money to pay a cash sum upfront why would they need another ten quid per week. It is the daftest scheme I have seen. The people most likely to need another tenner per week won't have any capital.El Cid wrote:It's a rubbish deal.
If you are 65 and want an extra £10/wk it will cost you £8900.
It will take 17 years before you get your money back.
Sid
- chrissiehope
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Re: This seems a good idea
I'm too young for this , but I am going to buy a couple of extra weeks that my record shows are not stupidly expensive. So then I will only be a couple of weeks short of the full pension requirement - at least until they move the goal posts again....
Alexandr for President (Squire for PM !)
Outside of a dog, a book is a man's best friend.
Inside of a dog it's too dark to read (Groucho Marx)
Outside of a dog, a book is a man's best friend.
Inside of a dog it's too dark to read (Groucho Marx)
Re: This seems a good idea
If you really want to give the gov a loan, you would probably be better off buying premium bonds
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Re: This seems a good idea
That's a much better deal. On the Government site that covers this new scheme, they specifically say that that is a better deal if you are eligible.chrissiehope wrote: I am going to buy a couple of extra weeks that my record shows are not stupidly expensive.
Sid
Re: This seems a good idea
Just read an interesting article about this that gives some figures etc
http://www.telegraph.co.uk/finance/pers ... gn=DM57267
http://www.telegraph.co.uk/finance/pers ... gn=DM57267
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