Before proceeding to the solution of examples and problems be sure to read the theoretical part of the lesson
Old age pension
1. Billy receives £90 a week pension and allowances. He has no other savings. He owns his own house. He has to spend the following each week:
food £40
electricity £11
gas £7
water rates
£7
council tax
£16
phone
£6
How much money
does Billy nave left for each week?
а) £87; б) £3;
в) £90; г) £177.
2. Billy receives £90
a week pension and allowances. He has no other savings. He owns his own house.
He has to spend the following each week:
food £40
electricity £11
gas £7
water rates £7
council tax £16
phone £6
Billy needs to
buy clothes, see friends and family.
He wants to have
the occasional drink and he would still like to run a car. He is 67
years old.
What is your
advice to Billy?
а) ; б)
;
в) ; г) .
3.
Mike started paying a small amount of
money into a personal pension plan
each month when he was 26 years old. He carried on paying a small amount each
month throughout his working life. Mike is now 65
years old and has a pension of £14000
per annum. When he adds his state pension of £3150,
he has £329.81
each week. Compare the live he could
now lead compared to Billy in Question 1.
а) lives
better; б) ;
в) lives
worse; г) .
4. Throughout your working life a small amount
of money could be saved each month towards a pension. Write down (or discuss with your teacher) reasons
for saving.
а) ; б) ;
в) ; г) .
5. Throughout your working life a small amount
of money could be saved each month towards a pension. Write down (or discuss with your teacher) reasons
for not saving like this.
а) ; б) ;
в) ; г)
.
