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Old 13.10.2007, 17:02
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jbrady jbrady is offline
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Pensions - how much are they really worth

Hello, I have been looking over my Pension statement and trying to work out how much I would get when I stop working.
There is an impressive number of about half a million on this statement, but after reading the actual payment per month I was a little shocked. 34K a year which equals about 3K a month. Possibly 1K for my wife if she keeps working for the next 20 years.
I presume that you get a state pension on top of this - say about 2K (each?).
This is not really a lot to live on after mortgage, Krankenkasse etc. Not really the golden retirement I was dreaming of. Is this the real world? Or am I missing something? What do normal people do?
I have a couple of questions.
First - do you pay tax on your pension (and do you still get tax breaks for the mortgage when you are over 65?)
Second:- Why do most swiss seem rich when they get older - they buy new cars, renovate their houses and just seem well - affluent.
Perhaps you have to save all your life, or wait for the older generation to die.
The whole point of this thread is that I have listened to so many people talking about their pension as if it was like winning the lotto, whereas in reality it seems to me that you end up with half your monthly salary with the same bills and commitments.
Does anyone have any real experience in this area? Has anyone retired here?
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