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5 Reasons Computer Programmers Often Have Poor Pension & Retirement Plans

Written by John J Bloomfield

Computer Programmer At Work

Image Credit: Dave Allen

Over the years I have been fortunate to work with a lot of computer programmers, I say fortunate because for the most part we tend to be on the same wavelength (I write, html, css and php as a hobby sad I know) which makes work more pleasurable and secondly they generally always get the math behind what we are discussing first time.

Computer programmers are generally pretty well paid especially once they have established and proved their skill set (it's definitely an industry where what you can do is more important than the qualifications you hold) yet it has been my observation (no stats just an observation) that based on age and salary they are often behind where they should be in terms of pension planning.

There is no science behind this article at all it really is just sweeping observations from my experience of working with programmers on their retirement and other financial planning needs. So here are the 5 reasons that I think they fall behind where they would like to be in the retirement planning stakes.

Counting down from least to most significant;

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“Being an Employer Is Like Being A Parent”

Written by John J Bloomfield

World's Best Boss Mug

Image by Kumar Appaiah 

“Being an Employer Is Like Being A Parent” is something that a client said to me in passing recently because on some levels it is very true.

As a parent you have someone who depends on you to provide for them and ensure that they have their basic needs met. As an employer there is a wait of responsibility to keep the business turning so that your employees can earn a living wage so that they can support themselves and their families.

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Bonus: Salary vs Pension Contribution

Written by John J Bloomfield

Pension or Salary Road SignWith recent proposals to liberalise withdrawals from pension plans at retirement pensions have become a much more interesting subject to both employers and employees alike.

When it comes around to bonus time the use of pensions rather than payments through salary can result in extra money for employees and financial savings for employers.

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