2024 Election thread
Comments
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I missed this post earlier. No, nada, zilch in the way of DB pension. Only one I ever had access to was closed one year after I was eligible.
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
You don't know what his salary was in that time to be fair. I bet a lot of people you're placing would be racking up more than that even on DC schemes.
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10 seconds on Google suggests that average income for UK over 65s is ~£18k pa
Your point about differential treatment of pension versus other benefits is valid. You appear to be arguing for f***ing over pensioners as well as other benefit claimants.
Pensioners don't owe you/us because the demographics have shifted against us.
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition3 -
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Destitute people cost more. If the average income is £18k and £11k is state pension, then clearly the average current pensioner does need that state pension. Turning your argument around, if someone should receive state help if their income is too low for a decent standard of living (UC) why should that stop at 65?
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition2 -
Yeah but you're forgetting they are all living in massive houses they should sell to supplement their income.
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Also, would be nice to not have Rick's pension beef take over every thread on the forum.
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition3 -
How about a pensions/Boomer thread for all of this tosh? Seemed to work quite well for the cars thread.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
I have one. NHS.
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There's one hour to change the title in case it offends anyone.
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That is well nigh impossible.
I would ask for a transfer value and look at moving it out
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This is not true - 70% are fully funded
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Why is that? Checked the letter from the pension scheme from December '20 and they quoted an annual pension of £2,617 which should be around the 3k mark by time I get it.
I have a valuation from that time as well and I sound be quids in as long as I live to a reasonable age, but the general advice is don't move DB schemes unless there's a good reason. And since everything else I have I in DC schemes, its a bit of certainty. I'm thinking of it as a top up to my state pension.
Thoughts?
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
I have never had reason to look into the detail of DB pensions, how does it change if it's defined? I guess it has some allowance for inflation?
£3k a year from 18 months of payment does seem like a remarkable sum but I guess it was invested a very long time ago 😉
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They're all defined 🙂 Defined benefit pensions do get uplifted periodically and this was paid into 33-34 years ago, from the second job I ever had.
Can't complain, although the bigger win was when my OH asked my to have a look at her old employers pension (she hasn't worked since 2001), as she got a letter from them saying it was going to start paying her soon and that it was 'worth £15k'. I assumed she meant it was a DC scheme worth £15k in total but when I looked at the letter it was a DB scheme paying £15k a year for life...
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
It took me 8 years to reach something that is due to pay very similar amounts (my salary over the time I was paying in was probably somewhere around £12k).
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Similar to the 3k or the 15k?
- Genesis Croix de Fer
- Dolan Tuono0 -
Keep on like this, and RC will start a 'boomers pension thread', so he doesn't have to read what you're all getting in your dotage while he's still commuting from Cambridge to pay for our state pensions.
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The £3k unfortunately!
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He should think of it as the money we've got in schemes is paying the people who pay him. He should be thanking us!
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I wish he'd post less on here and work more to pay more tax - I mean, we all know there is a state pension funding problem looming.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
The quote will be for what it will be worth when you collect.
Assuming you were accruing one 60ths and were earning £20k then when you left your pension would have been worth circa £500 pa. Increases would have been inflationary quite possibly limited to 5%.
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Pretty close - the later from 1991 said it would pay £513 pa from age 60. As mentioned, the late 2020 letter said £2,617pa (and estimated £3,317 pa by time I start taking it). How it got to that in between I don't care...
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
I quite like how Anderson now has to sit next to Galloway. Like the wedding seating plan from hell
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0 -
Sounds to me like it may have a GMP attached, meaning the original scheme was contracted out, and as both employer and employee benefittted from lower NI rates, they had an onerous additional State Pension requirement in the form of the GMP. These can often increase by 8.5% pa.
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You're right, it did have a GMP. In the end, it is what it is and I'm not complaining.
"I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]0 -
oh yeah..
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^^^ Bottom right of centre doesn't look too pleased either! 🤣🤣🤣 ^^^
The above may be fact, or fiction, I may be serious, I may be jesting.
I am not sure. You have no chance.Veronese68 wrote:PB is the most sensible person on here.0 -
With skin that thin it's a wonder you can't see his internal organs.
1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
Pinnacle Monzonite
Part of the anti-growth coalition0
