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Forum: General Chat 26 Aug 19, 04:54 PM
Replies: 241
Views: 23,029
Posted By tspill
Sadly you are probably right.

Sadly you are probably right.
Forum: General Chat 26 Aug 19, 04:27 PM
Replies: 241
Views: 23,029
Posted By tspill
And they have never changed their minds or...

And they have never changed their minds or policies before.
That statement (like any) is valid until they change their minds and it suits them.
Forum: General Chat 26 Aug 19, 01:44 PM
Replies: 241
Views: 23,029
Posted By tspill
This is a whole new thread. I think we will just...

This is a whole new thread. I think we will just have to agree to differ :).
Forum: General Chat 26 Aug 19, 10:47 AM
Replies: 241
Views: 23,029
Posted By tspill
No government will ever care. There seems to be...

No government will ever care. There seems to be a fallacy that politicians care for people other than themselves. History has shown that they don't - they are some of the most selfish people in...
Forum: General Chat 25 Aug 19, 10:53 PM
Replies: 241
Views: 23,029
Posted By tspill
You are right - there is good news in there in...

You are right - there is good news in there in living longer.
Forum: General Chat 25 Aug 19, 09:02 PM
Replies: 241
Views: 23,029
Posted By tspill
So what is your solution? The country can't...

So what is your solution? The country can't afford the state pension so the only two options are push the age up or we pay more in through increased taxes or NI. Basic maths.
Increasing taxes/NI...
Forum: General Chat 25 Aug 19, 03:13 PM
Replies: 241
Views: 23,029
Posted By tspill
The two tiers are those that have seriously...

The two tiers are those that have seriously considered their future and are trying to make plans and taking the resulting pain; And those who have not and spend what they have now and will supper...
Forum: General Chat 24 Aug 19, 06:20 PM
Replies: 241
Views: 23,029
Posted By tspill
But savings accounts are rubbish as a long term...

But savings accounts are rubbish as a long term product. Investing generally over the long term has historically returned 3-4% over inflation.
Pensions are generally in investments rather than...
Forum: General Chat 23 Aug 19, 06:37 PM
Replies: 241
Views: 23,029
Posted By tspill
Ah! Were those returned contributions then put...

Ah!
Were those returned contributions then put into a separate pension - some sort of personal pension or investment?
Forum: General Chat 23 Aug 19, 06:06 PM
Replies: 241
Views: 23,029
Posted By tspill
You are likely better off overall by contracting...

You are likely better off overall by contracting out as you would have been contributing to an occupational pension instead and this is likely much better than had you contracted in.

You can't...
Forum: General Chat 23 Aug 19, 06:02 PM
Replies: 241
Views: 23,029
Posted By tspill
Annuities have not gone away and they are not...

Annuities have not gone away and they are not awful products.

Yes, returns aren't great currently, but they do meet a need for some people why want a guaranteed return with no risk.

If you have...
Forum: General Chat 23 Aug 19, 05:51 PM
Replies: 241
Views: 23,029
Posted By tspill
I don't think COPE is that relevant. What you...

I don't think COPE is that relevant. What you should look at is the actual numbers. It tells you what you have now and what you can achieve under the post 2016 changes and how long it will take to...
Forum: General Chat 23 Aug 19, 05:21 PM
Replies: 241
Views: 23,029
Posted By tspill
I think some of what you have experienced is a...

I think some of what you have experienced is a major part of the problem - none of us were educated on pensions when we started work. And this lack of education on something so critical continues...
Forum: General Chat 23 Aug 19, 05:16 PM
Replies: 241
Views: 23,029
Posted By tspill
I am not sure I understand this. Surely there is...

I am not sure I understand this. Surely there is only one "full" state pension - currently around £168 I think?
By the extra £27 - are you referring that option to pay an additional 5 years NI to...
Forum: General Chat 22 Aug 19, 06:09 PM
Replies: 241
Views: 23,029
Posted By tspill
It sort of doesn't matter whether you were or...

It sort of doesn't matter whether you were or weren't contracted in or out. It is what it is.
What you need to do is log on to the goverenment gateway and this will give you all the details you...
Forum: General Chat 22 Aug 19, 10:05 AM
Replies: 241
Views: 23,029
Posted By tspill
He would have got the full state pension as it...

He would have got the full state pension as it was in March 2016. For that you needed 30 years contributions.
Forum: General Chat 22 Aug 19, 10:04 AM
Replies: 241
Views: 23,029
Posted By tspill
You can buy class 3 NI years at a rate of around...

You can buy class 3 NI years at a rate of around £740 per year. Class 2 for self employed is around £140.

A year gets you around £250 per year so payback for most is around three years which is...
Forum: General Chat 21 Aug 19, 08:59 PM
Replies: 241
Views: 23,029
Posted By tspill
I agree with most of what you say. But on the...

I agree with most of what you say.
But on the SP, to date this is in essence a pension that people have been buying as part of their NI contributions so should be locked in. This was even marketed...
Forum: General Chat 21 Aug 19, 06:56 PM
Replies: 241
Views: 23,029
Posted By tspill
As I said previously, early retirement came from...

As I said previously, early retirement came from very hard work and some sacrifices. Far from just being fortunate - it took a lot of effort and some difficult choices.
And I wasn't suggesting...
Forum: General Chat 21 Aug 19, 06:41 PM
Replies: 241
Views: 23,029
Posted By tspill
Those are things over which you or I have no...

Those are things over which you or I have no control so cant rely on ever happening. We dont get any choice over these things - other than at the macro level when we elect out (useless) politicians...
Forum: General Chat 21 Aug 19, 06:37 PM
Replies: 241
Views: 23,029
Posted By tspill
This is the reality on many things the government...

This is the reality on many things the government decides.
Forum: General Chat 21 Aug 19, 06:32 PM
Replies: 241
Views: 23,029
Posted By tspill
So what is your actual suggestion? How do you...

So what is your actual suggestion? How do you think people should prepare for their future?
Forum: General Chat 21 Aug 19, 06:30 PM
Replies: 241
Views: 23,029
Posted By tspill
So if it is "farcical" - please explain the...

So if it is "farcical" - please explain the options (that they have control over)? If they dont make provision - what sort of later life will they have?

Unfortunately there is no magic answer...
Forum: General Chat 21 Aug 19, 06:23 PM
Replies: 241
Views: 23,029
Posted By tspill
So pick a different number. If your second...

So pick a different number.

If your second point was the case, you would never put anything in. Every penny you contribute helps.

And you and I and everyone else gets to make these choices. ...
Forum: General Chat 21 Aug 19, 06:20 PM
Replies: 241
Views: 23,029
Posted By tspill
I dont disagree with any of this - everyone gets...

I dont disagree with any of this - everyone gets to make their own choices.
But what then happens is people then whinge and complain when they dont like the consequences of these choices.
Forum: General Chat 21 Aug 19, 05:42 PM
Replies: 241
Views: 23,029
Posted By tspill
So if 6K is for three, then it might be around 8K...

So if 6K is for three, then it might be around 8K for four - plus some spends. Not a million miles off what I quoted.

Like I said above, the number isn't the important bit - it is that fact we...
Forum: General Chat 21 Aug 19, 05:24 PM
Replies: 241
Views: 23,029
Posted By tspill
see my earlier post on this. I was basing that a...

see my earlier post on this. I was basing that a Florida holiday for a family of four would cost £10k+ these days for most.
It was just for illustration. The other side is that some go multiple...
Forum: General Chat 21 Aug 19, 05:04 PM
Replies: 241
Views: 23,029
Posted By tspill
I guess my number was chosen based on this being...

I guess my number was chosen based on this being a Florida holiday forum where a holiday can cost £10k+ for a family of four. So I was just using that as a comparison number that was a relevant to...
Forum: General Chat 21 Aug 19, 04:42 PM
Replies: 241
Views: 23,029
Posted By tspill
But the pre-reform retirement ages were...

But the pre-reform retirement ages were grandfathered in (at least the Teachers PS anyway).
The tie to the new pension age is only for the post reform part.
Forum: General Chat 21 Aug 19, 04:34 PM
Replies: 241
Views: 23,029
Posted By tspill
But they still have their expensive iPhones which...

But they still have their expensive iPhones which they replace exam 18 months. Still enjoy nice clothes. Enjoy £3.50 coffees. etc. etc.
I am not saying this is everyone, but it is a big %age.
It...
Forum: General Chat 21 Aug 19, 04:31 PM
Replies: 241
Views: 23,029
Posted By tspill
Exactly! People need to take responsibility...

Exactly!
People need to take responsibility for their own choices.
£1000 per month into a holiday or into financial provision. That £1000 is actually £1250 if a tax payer puts it into a...
Forum: General Chat 21 Aug 19, 04:27 PM
Replies: 241
Views: 23,029
Posted By tspill
There are loads of jobs where young people can...

There are loads of jobs where young people can start. But most dont want to do these jobs.
Forum: General Chat 21 Aug 19, 04:25 PM
Replies: 241
Views: 23,029
Posted By tspill
But pensions are only one vehicle to save. ...

But pensions are only one vehicle to save. People need t be saving for their own futures using other options - savings and investments and using tax efficient wrappers like ISAs and Pensions.
Forum: General Chat 21 Aug 19, 04:21 PM
Replies: 241
Views: 23,029
Posted By tspill
This is in some ways similar to what we are...

This is in some ways similar to what we are doing.

We decided a long time ago (early 40s) that we wanted to return early.
I have done so at 53 and my OH will do so at 55.
This takes lots of...
Showing results 1 to 34 of 34

 
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