Pension stuff, how's it all looking ? HAve you prepared ?

[slowsider]

Out of interest for the non-UK people here, what does it cost per year for health stuff outside of the UK and what level of cover does that bring ?#

Is there any likely reciprocal health cover like the EHIC card we have (i assume) now lost? If so, what would that cover ? If not, do the have an NHS type service abroad and how does it all work for non-birth residents, can you even get to be classed as a resident enough to get covered ?

The UK government said the EHIC card is still valid until each individual card expires. After that, it will issue a new card which will have the same benefits in the EU as the existing one. There are some places that don't accept it and not all countries provide the same emergency healthcare.

That doesn't apply to residents

Under the Common Travel Area, UK citizens who live in, work in, or visit Ireland have the same right to access healthcare as citizens who are resident in Ireland [who are entitled to free public hospital services but you may have to pay in-patient and out-patient hospital charges. You are also entitled to subsidised prescribed drugs and medicines and maternity and infant care services]
You might just want to downplay the accent a bit at the moment

[Dodgy69]

These days some folk are on such poor wages they can't afford to pay into their company schemes, so opt out. Where i work now, employee's puts in 5 % and company put in 3%. Absolute shite, so at my age I opted out.

In previous job, company put in 12% as long as employee put in 8% or more. Any less than 8% and company contribution reduced. Basically, auto enrollment isn't the answer for future generations because wages are so shit.

[gremlin]

These days some folk are on such poor wages they can't afford to pay into their company schemes, so opt out. Where i work now, employee's puts in 5 % and company put in 3%. Absolute shite, so at my age I opted out.

In previous job, company put in 12% as long as employee put in 8% or more. Any less than 8% and company contribution reduced. Basically, auto enrollment isn't the answer for future generations because wages are so shit.

I've not known any pension scheme where AVCs aren't possible. If they not, anybody can set one up. I know it's easy to sit here smug at my age with a DB scheme, etc. I recall, when I started work you'd hear the salary and then you'd stop listening*, but we need to drum it into kids from the off that they need to start putting into a pension. By the time the first grey hairs turn up, it's too late.

By the same mark I know self employed people, cabbies in particular, who have no idea how they're going to cope in retirement. I think my mate has visions of driving the cab 'til he drops dead, which makes him bloody miserable, but at the same time, he lives in a nice house, always has a new car on the drive, insisted that his wife looked after the kids at home and has had a succession of tropical holidays. Made your bed, mate....


*Same went for the private medical cover. You get to a certain age and, bugger me, do you give thanks for it.

[Mr. Dazzle]

These days some folk are on such poor wages they can't afford to pay into their company schemes, so opt out. Where i work now, employee's puts in 5 % and company put in 3%. Absolute shite, so at my age I opted out.

In previous job, company put in 12% as long as employee put in 8% or more. Any less than 8% and company contribution reduced. Basically, auto enrollment isn't the answer for future generations because wages are so shit.

5/3 is legal minimum companies have to offer, it used to be 3/3 until recently. In fact it was only a few years ago that they didn't HAVE to offer anything at all.

It's not a case of shit wages, it's a case of people living longer and the golden pensions of old being unsustainable.

As above, I've got an old fashioned final salary pension from my first job which I started in 2006...they closed it to new entrants not long after 'cause the numbers simply don't stack up. People refuse to die. The bastards

[Taipan]

I reckon the corona Virus was commissioned by pension people. Kill off the entitled claimants and be quids in!

[Horse]

GHIC now

https://www.gov.uk/global-health-insurance-card

[Supermofo]

Early days were always buy a place abroad and eventually move out there. But I've never actually been to southern Spain, so would need to scout it out first and find somewhere that suits our needs and renting a place would give a good insight into what living amongst that community would be like.

A generalisation I know but...
My Mrs folks own a villa in Spain (Calahonda mid way between Malaga and Marbella) which my SIL currently lives in. It's nice to visit but I don't think I could live there. Most of the ex pats are stuck in a weird time warp and it all seems very insular as most don't mix with local people. As an example take my SIL, lived in Spain now for 5 years and can barely speak any more Spanish than to get by with basics in shops/bars/restaurants. They have mates who have lived there way longer who are the same. And loads of em are retired so its all a bit gods waiting room while they sit in British bars watching football and having Sunday roasts/fry ups.

I think I could winter there but it'd drive me mental unless I could escape the everyone knows each others business ex pats.

Plus and I know its a bit odd but months of 30c heat would grate for me. I wouldn't want to ride my bike in it and you end up avoiding lots of the day time activity cos its too hot. Fine if that's you bag but I much prefer the Spanish spring/autumn.

And yes thats a big generalisation but does some up large parts of southern Spain.

If I was gonna retire abroad I think France/Italy would be higher up my list.

[Dodgy69]

After watching David Attenborough the other night, in another 60/80 years we won't need to worry about pensions.

[Nordboy]

Ah, pensions.

Whilst many would say that my pension is still a very good one, it has been changed dramatically over the last few years. The changes have had a massive effect on my actual ability to retire. I'll probably now have to continue to work full time rather than get a part time job.

I (along with about 30k others) have had to take both the government and my so called union, even though they're not technically a union, to court. The first case against the g'ment we've already won, the other could take a while to get to court.

Ultimately because of this, I actually can't get any true figures, because no one yet knows what the court remedy will be.

Saying that, because the gubbermint is probably going to change my pension again in the next few years, I don't think I will now do my full 30 years, I don't think it'll be worth me staying beyond 25, as the extra 5 yrs I pay in (and I pay in a load each month) will bring me any real benefit.

I'm not bitter about it all though (not much!!!). All the years of shift work, dealing with shit, missing events at home, etc etc.......

[Bigyin]

Ah, pensions.

Whilst many would say that my pension is still a very good one, it has been changed dramatically over the last few years. The changes have had a massive effect on my actual ability to retire. I'll probably now have to continue to work full time rather than get a part time job.

I (along with about 30k others) have had to take both the government and my so called union, even though they're not technically a union, to court. The first case against the g'ment we've already won, the other could take a while to get to court.

Ultimately because of this, I actually can't get any true figures, because no one yet knows what the court remedy will be.

Saying that, because the gubbermint is probably going to change my pension again in the next few years, I don't think I will now do my full 30 years, I don't think it'll be worth me staying beyond 25, as the extra 5 yrs I pay in (and I pay in a load each month) will bring me any real benefit.

I'm not bitter about it all though (not much!!!). All the years of shift work, dealing with shit, missing events at home, etc etc.......

When i did my post on this i did wonder how you would be affected with the changes from the PPS to the NPPS to the 3rd one. My mate retires this summer and he made the cut off to stay on PPS by about 5 months as would i if i had done the full time without my military pension carry over. The only thing i can see the courts doing is reinstating people who were forced onto the tiering system between the PPS and NPPS and the 3rd one back onto the one you signed up for.

I have a load of mates all in the same position as you and most have pushed the "lets get promoted" button to try and make up what they have lost in potential pension income by going up a rank. Fingers crossed the court action brings results

[cheb]

Ah, pensions.

Whilst many would say that my pension is still a very good one, it has been changed dramatically over the last few years. The changes have had a massive effect on my actual ability to retire. I'll probably now have to continue to work full time rather than get a part time job.

I (along with about 30k others) have had to take both the government and my so called union, even though they're not technically a union, to court. The first case against the g'ment we've already won, the other could take a while to get to court.

Ultimately because of this, I actually can't get any true figures, because no one yet knows what the court remedy will be.

Saying that, because the gubbermint is probably going to change my pension again in the next few years, I don't think I will now do my full 30 years, I don't think it'll be worth me staying beyond 25, as the extra 5 yrs I pay in (and I pay in a load each month) will bring me any real benefit.

I'm not bitter about it all though (not much!!!). All the years of shift work, dealing with shit, missing events at home, etc etc.......

I think they did similar with the NHS doctors' pensions. Asked them if they wanted to change and when given the wrong answer changed it all anyway.

[Couchy]

I like to think I’d enjoy retirement but tbh I’d still want a part time job so I can get out and see people. I’d already gone part time a few years back in a sort of semi retirement but then started a new business which now needs me full time. I guess my mindset isn’t one of doing little, I’ve got several private pensions but together they won’t pay a lot but it’ll be enough to live on with some luxuries especially with the wife’s NHS pension. I’m topping mine up with 80% of my salary now too so it may increase a good percentage. Haven’t set a time as I want to make sure my daughter has a great childhood first and foremost so I’ll work till she leaves school, prob part time but still work. House is paid for anyway and doesn’t cost much to run so hopefully I’ll retire within 10 years but nothing set in stone

[Supermofo]

After watching David Attenborough the other night, in another 60/80 years we won't need to worry about pensions.

That is a big old risk we've (westerners) had a good run since WW2 with riches and lifestyles unimaginable from our ancestors. But things are starting to look a bit bumpy

[Bigyin]

I think they did similar with the NHS doctors' pensions. Asked them if they wanted to change and when given the wrong answer changed it all anyway.

They didnt ask the Police or Fire Service, just decided to change them because they could and knew they would get a fight from the Fire Service Unions but as the Police cannot legally hold any industrial action they were the easier target, Fire Service threatened strike action so their increase in contributions was reduced but Police increase stayed the same.

When they changed it again for the 3rd time Fire service Unions began industrial action and court action straight away. Police Federation wouldnt act so Police Officers got together themselves to fund the legal action which as far as i am aware continues to this day. The federation are the best example anywhere in employment relations of a toothless tiger

[Wreckless Rat]

It should be illegal to change a pension scheme entitlement once started. Yes pensions needed reform for the Public sector, but once you start your terms should be locked.

I hate the way governments change shit like pensions once people are already committed. A contract is a contract.

[Hoonercat]

"Seasons" means getting 6 months cold, dark and wet. And short days.
You soon get used to not having that.

If you do get over here, I'll show you round, properly. Stuff you'd never see normally.

Not at all. This is my third winter here and it's been the worst, but still far better than a wet Northern Europe winter. October to December, though the trees are shedding, the landscape is a gorgeous green which is very much appreciated after a long, hot summer, then you get to see it all over again in Spring along with the trees blossoming. Jan and Feb tend to be colder, though the heat from the sun is still strong enough to warm the house most days (I hardly ever have the heating on during the day). Cloudy days feel the coldest, this winter we've had more cloud hence it being a worse winter. Nights can be very cold even if we've had a warm day, but I found myself longing for those cold nights with the wood burner blazing away during the summer due to it being a long one. Daytime temps for the next 10 days are forecast to be between 15 and 19 degrees, that's just about perfect for a few hours walking the dogs each day.
Each to his own though.

[Hoonercat]

As for pensions, mine is shite. I joined late and paid minimum, preferrring to concentrate on the mortgage. Sold the house, paid off all debts, bought a fantastic property here in Bulgaria for silly money which left me with a tidy sum, half of which I use for investments which are giving a far better return than my pension over the past few years. I'm not relying on the private pension, so last year I changed it to medium and high risk and just leave it for a few years, see what happens.

[Potter]

It should be illegal to change a pension scheme entitlement once started. Yes pensions needed reform for the Public sector, but once you start your terms should be locked.

I hate the way governments change shit like pensions once people are already committed. A contract is a contract.

You can't expect something to stay the same for 20, 30, 40+ years.
And they're not doing it just to be twats, the figures do have to balance, cash in has to be somewhere near cash out. If you estimate that the price of coffee beans will stay the same for 25yrs, but then they go up radically are you going to keep your prices the same for the next 25yrs?

If you've got high employer contribution public sector pensions then for every person you see working in one of those jobs they have a ghost next to them that is their pension and you're paying three peoples wages for every two staff. That's before you even get into CTC versus output over their lifetime.
I understand that's what they signed up to years ago, but it's not realistic today.

I'm all for capitalism and getting out of life what you put in, but if we're talking about a UK workforce in general then what's fair? A public sector employee retiring at 60yrs old with a tax payer funded six figure cash lump sum pay out and a luxury pension - whilst a roofer has to go up on a roof in winter at 66yrs old just to pay his gas bill (and the tax contribution to keep the public sector bloke in Range Rovers)?
That's some pretty extreme capitalism in my book and morally pretty wank.

[Wreckless Rat]

Yup - as I said it needed reform, massively, but it should have been done with new starts, not dicking with peoples pensions years in.

I’m the last person you need to convince public sector pensions were and still are way to high compared to what everyone else has to do to get a pension.

To use the forward analogy - if I buy a forward contract for beans - I can’t change my mind half way through because I can buy cheaper beans because the price has dropped - im contracted at that rate.

[Potter]

Yup - as I said it needed reform, massively, but it should have been done with new starts, not dicking with peoples pensions years in.

I’m the last person you need to convince public sector pensions were and still are way to high compared to what everyone else has to do to get a pension.

To use the forward analogy - if I buy a forward contract for beans - I can’t change my mind half way through because I can buy cheaper beans because the price has dropped - im contracted at that rate.

If you were daft enough to sign a 40yr contract for beans then you'd have change clauses in to cover changes that you may need to make during that time period. Change in law, change in economic circumstances, change in markets, variations, etc.
That's what's happening.