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This ignores that most employers will do a pension match. So yeah you pay in X% of your salary, but so does your employer. That's X% more money that you're gett

This ignores that most employers will do a pension match. So yeah you pay in X% of your salary, but so does your employer. That's X% more money that you're getting — for free.

jstx1 4y ago
It also ignores that you can take out a portion of your pension tax free, and that your marginal tax rate is likely to be lower in retirement. It also ignores the amount of flexibility and options that you have in terms of picking your provider and your investments. A bunch of things in the article are outright wrong, others are misleading - it's a bad look for the author to criticise things they understand so poorly.
- SpaghettiX 4y ago
  Hi, thanks for reading it. I'm the author. I'm sure others might understand the pension world more than me - I wanted to share my perspective. I was offered a pension match in th past, some were good (e.g. up to 7% match). I didn't include the "positives" of having a pensions, because that's common knowledge about pensions. I might improve this article based on your concerns. Yes, is free "pension-money", but until you take it out, it means nothing. Some of the disadvantages in my article are more certain to actually happen. All of the disadvantages I noted need to be resolved before you get your extra 7%-matched pension money. Is the risk worth it? For me: no, pensions are not worth the risk.
h2odragon 4y ago
Assuming you ever manage to get it back out. I've met more people working after retirement than not, very few of those felt they could do without the job. My employer assured me for years that I was paying taxes, Social Security, and pension savings. Turned out not to be the case. I spent my health on that job and found out that I'm not eligible for any assistance because I never paid in. The difference between me and most folks is I already know how boned I am, it isn't a looming surprise.

This ignores that most employers will do a pension match. So yeah you pay in X% of your salary, but so does your employer. That's X% more money that you're getting — for free.

jstx1 4y ago

It also ignores that you can take out a portion of your pension tax free, and that your marginal tax rate is likely to be lower in retirement. It also ignores the amount of flexibility and options that you have in terms of picking your provider and your investments. A bunch of things in the article are outright wrong, others are misleading - it's a bad look for the author to criticise things they understand so poorly.

SpaghettiX 4y ago
Hi, thanks for reading it. I'm the author. I'm sure others might understand the pension world more than me - I wanted to share my perspective. I was offered a pension match in th past, some were good (e.g. up to 7% match). I didn't include the "positives" of having a pensions, because that's common knowledge about pensions. I might improve this article based on your concerns. Yes, is free "pension-money", but until you take it out, it means nothing. Some of the disadvantages in my article are more certain to actually happen. All of the disadvantages I noted need to be resolved before you get your extra 7%-matched pension money. Is the risk worth it? For me: no, pensions are not worth the risk.

h2odragon 4y ago

Assuming you ever manage to get it back out. I've met more people working after retirement than not, very few of those felt they could do without the job. My employer assured me for years that I was paying taxes, Social Security, and pension savings. Turned out not to be the case. I spent my health on that job and found out that I'm not eligible for any assistance because I never paid in. The difference between me and most folks is I already know how boned I am, it isn't a looming surprise.