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Originally Posted by PeteL
im 21, during my life time i will pay many fold more tax than the current load of pensioners and i will not have a state pension at all, work 'til i drop
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Proportionately the amount of tax you pay won't be much different to 'the current load of pensioners' - I'm not sure what point you are trying to make with that statement?
Can you quote any links to support your assertion that you won't receive a state pension?
In any case I thought you were looking to enrol in the Armed Forces - in which case you would benefit from their pension scheme.
Quote:
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Your pension will start to build up from your first day of paid service, and after 35 years' service you could achieve a pension worth 50% of pensionable pay. Longer service up to a maximum of 40 years will count towards your pension.
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from
http://www.army.mod.uk/join/terms/1141.aspx
I would, personally, always recommend an occupational pension as the most desirable option - especially as you can (currently) start taking it before the state retirement age.
The statement above implies a person joining the Army at age 21 could 'retire' on half pensionable pay at age 56 - that hardly amounts to a 'work 'til I drop' scenario?