Had the bank man round today because my company has more than 5 employees we have to open a stakeholders pension scheme.

Is it worth paying into a Pension these days, with the world economies the way they are? Its all done on the stocks isnt it?

I quite like the idea of taking one tbh, and apparently they are going to be compulsory soon anyway.

Ive just been paying into an ISA for the last few years.

apparently what ever i pay in I get my rate of tax(20%) back on it. so every £1 I pay I get 20p added.

You would think its free money but they gamble with it on the stock market so they could loose it all if they crash, from what I understand.

True

Im 25 atm and Ive worked full time 2yrs now and considered setting up recently. My company will match up to 2% if I put in 2% but for the past 2yrs Ive been maxing out my Isa. I can afford to do this because Im still living at home so Im questioning if I can keep this up when I do eventually move out.

I just cantdecide right now...if I put in £400 a year for example, my company puts in £400 and over 30years thatll be £12k+ (salary rise). I guess the plus side is I can access my ISA whenever I like.

The thing to be said about pensions schemes is the longer the money is in the scheme the more itll be worth, so start early. Youll be thinking about this in your thirties and by then you could have had an extra 10 years of investment
If you move jobs often you will be usually be asked to join a different scheme; this may mean you end up with many different schemes (even if most of them have no more money going into them). This gives you some protection against the risk of a particular scheme being robbed or devalued.
Its one of the most tax-efficient ways of saving (except that your pension once drawn is taxable! ) To this end, additional voluntary contributions may be worth your while if you can afford it.

sack your employees & take on contracters.. give them a hefty pay rise.
No more pension fund & no more employees national insurance.
No more holiday pay either

Quote from: Eggtastico

sack your employees & take on contracters.. give them a hefty pay rise.
No more pension fund & no more employees national insurance.
No more holiday pay either

so make them all self employed? thats a really good idea tbh

affectively.. yes

Quote from: Eggtastico

sack your employees & take on contracters.. give them a hefty pay rise.
No more pension fund & no more employees national insurance.
No more holiday pay either

so make them all self employed? thats a really good idea tbh

Most companies do this already. My old company had about 50 or 60 sales staff, all self-employed.

Think there is something in the works to put a kybosh on it though no? IR35? Means if contractors are working for a regular employer... then theyre classed as employees and end up getting screwed tax and NI wise.