Pension stuff, how's it all looking ? HAve you prepared ?
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
PLCs don't pay their profits to their employees though, or even into their employees' pension funds.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
On what turnover, i.e. what % was profit?Pirahna wrote: ↑Tue Feb 20, 2024 10:09 amProfit. For example, British Gas profit was £72m in 2022, £751m in 2023.
https://www.theguardian.com/business/20 ... s-centrica
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
Pirahna wrote: ↑Tue Feb 20, 2024 10:09 amProfit. For example, British Gas profit was £72m in 2022, £751m in 2023.
https://www.theguardian.com/business/20 ... s-centrica
You'd like to think that profit would be ploughed back into improving infrastructure but that doesn't appear to be happening.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
You Google it, I couldn't care less. My gas is price capped by the government at €15.14 a bottle. I use approx 1 bottle a year for cooking and 2 for hot water over winter. The days are just about long enough for me to switch back to my electric hot water heater, I'm off grid for leccy but the sun goes behind the mountain a bit too early in the winter and running the water heater uses too much from the batteries.Horse wrote: ↑Tue Feb 20, 2024 10:37 amOn what turnover, i.e. what % was profit?Pirahna wrote: ↑Tue Feb 20, 2024 10:09 amProfit. For example, British Gas profit was £72m in 2022, £751m in 2023.
https://www.theguardian.com/business/20 ... s-centrica
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
As BG has a UK market share of approx 20%, the annual profit per household supplied is £140
There is no cloud, just somebody else's computer.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
You obviously care a bit because you stated 'profit' and gave figures.Pirahna wrote: ↑Tue Feb 20, 2024 10:43 amYou Google it, I couldn't care less.Horse wrote: ↑Tue Feb 20, 2024 10:37 amOn what turnover, i.e. what % was profit?Pirahna wrote: ↑Tue Feb 20, 2024 10:09 am
Profit. For example, British Gas profit was £72m in 2022, £751m in 2023.
https://www.theguardian.com/business/20 ... s-centrica
FWIW, one source says:
The profit boom was largely thanks to a tweak to the regulator Ofgem’s energy price cap that allowed the supplier to recoup some of the costs of supplying its 10 million customers during the energy crisis.
Ofgem’s controversial decision to allow energy suppliers to claim greater profits from hard-hit customers via the energy price cap also led to a windfall for EDF Energy and Scottish Power.
Another notes:
Centrica previously cancelled its final 2019 dividend payment and made no payouts to shareholders in 2020
'Operating margin' for BG Energy
2022 1.9%
2023 8.2%
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
Yes that sounds more valid.mangocrazy wrote: ↑Tue Feb 20, 2024 11:07 amAs BG has a UK market share of approx 20%, the annual profit per household supplied is £140
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
So - very roughly - one month's payment. Tying in with the 8% profit.JackyJoll wrote: ↑Tue Feb 20, 2024 11:31 amYes that sounds more valid.mangocrazy wrote: ↑Tue Feb 20, 2024 11:07 am As BG has a UK market share of approx 20%, the annual profit per household supplied is £140
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
This is all very exciting, but it's got nothing to do with pensions or whether you're prepared for retirement.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
We can fit an anti-big business rant in anywhere.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
Ìt does if you consider contingencies.
Edit:
From one side, consumers, bills rocketing. From the other side, shareholders and dividends - or not.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
Perhaps, but if you've failed to provision to even pay your gas bill during retirement then you're so bolloxed that taking part in the conversation isn't going to help you much.
I'm more concerned that (as yet) I haven't provisioned for an immaculate Ferrari 280 GTO to tour Europe in whilst visiting thrilling landmarks and key destinations.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
Is that profit before or after the 75% (I think?) tax energy providers pay.
I'm not actually that interested, I'm just pointing out it's a complicated interlinked subject.
I'm not actually that interested, I'm just pointing out it's a complicated interlinked subject.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
I doubt many people on low pensions would have been "meh, it'll be fine" at the fluctuations in fuel prices over the last couple of years.Potter wrote: ↑Tue Feb 20, 2024 12:03 pmPerhaps, but if you've failed to provision to even pay your gas bill during retirement then you're so bolloxed that taking part in the conversation isn't going to help you much.
And this loops back to the 'how much?' question. Remind me who asked that ...
Actually, I'm being a bit unfair. You're probably not an average person. But the same things apply.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
No one is average, I made that point before, you only need a few billionaires in the mix and all of a sudden we're all living on "average" pensions of £100k a year.
I think it's prudent to expect that your household bills could spike considerably, so you need to factor that in. When prices are low it's disposable income, when prices go up it's a fund to use to cover the shortfall. So personally I think the number of around £3k a month (at current prices) is somewhere near because I reckon (with no debt or mortgage) a couple can live well on £2k a month, then the extra grand is fun money in good times and essential top-up in bad times.
That's where I'm at anyway, I reckon £3k is what I need, but ever the pessimist I'm aiming for £5k, so I have plenty in reserve.
One thing for certain though is I don't want or need more than that and I'm close, so I'm getting a bit twitchy as to when to walk away - my main concern is inflation, if I live to be eighty then I have thirty years to pay for and £3-5k now won't be worth £3-5k in twenty-five years time.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
Surely your £3k is still going up as it's invested now ? I'm making assumptions here, but surely your pension once you start taking it doesn't just stop at that figure forever ?
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
I don't have much of a pension, probably £60k all in, so my retirement will be funded by savings and investments, which aren't guaranteed to rise with inflation, unless I buy an annuity with some of it, but even those aren't guaranteed after a time.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
It's was more of a generalisation question than specific to you.Potter wrote: ↑Tue Feb 20, 2024 1:09 pmI don't have much of a pension, probably £60k all in, so my retirement will be funded by savings and investments, which aren't guaranteed to rise with inflation, unless I buy an annuity with some of it, but even those aren't guaranteed after a time.
So if my pension is £3000 a month, i'm guessing as time goes on that goes up too ? (assuming markets work in your favour) Rather than just being a set figure of £3000.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?
I guess the open answer is that it depends on the T&Cs of your pension, the annuities I've looked at make accounts for inflation but there are some things in the small print that I don't like, such as the payments only being guaranteed for a certain length of time, then they might go down.