Last reply 5 years ago

So…whats the deal with pensions for ms sufferers? I want to sort one out, I’m 27 and want to start now in case I have to retire early!

Is it going to make a huge difference? Is there somewhere that specializes in pensions for us?

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5 years ago

Paying into a pension gives you two benefits :-
1. A nestegg when you retire, which can then provide income; and
2. Life insurance, in case you don’t make it to retirement.
I should imagine that a Pension Company would want to “hedge their bets” on the actual life insurance cover.
Yes, it’s a worthwhile investment as it comes from your pre-taxed income.
Do you not work for a company that offers a scheme? Although, I believe that all companies now have to offer a pension scheme.
A union may be able to give you some advice, if you are a member.
Or pose the question to The MS Trust (0800 032 38 39) or MS Society (0808 800 8000) helplines.
Hope this helps.

5 years ago

My company doesn’t have to implement until 2015 (the rollout is based on company size, small/medium business). Spoken to the FD (my aunt) and I can start a pension until then and transfer over to the new work scheme when launched if I want.

So in the meantime I want to sort one out.

5 years ago

It would be wise to consider using the same Pension Company as the one intended by your Employers. That’ll help switch it over in 2015.
Once you get a quote, with the proposed benefits, then get quotes from an Independent Financial Adviser to compare. Bear in mind that there may be a financial hit when you switch the plan to your employers.
P.S. these are just my thoughts, I’m nothing to do with the pension or Finance industry.

5 years ago

Your advice is much appreciated – and don’t worry you sound impartial!

5 years ago

@jonnydrama, I did use to work for Lloyds Bank, when they were a Bank, but on the IT side! 😆

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