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

[Wossname]

Great pension thread!

[slowsider]

Naturally there's an AC DC song for the occasion

[Potter]

Never have worked out why some men think seeing another mans junk makes you gay.

It’s if you see it and like what you see!

What about if you prefer watching heterosexual porn rather than lesbian porn?
Does it mean you're bent because you'd prefer to see a bit of dick in your pornography?

[Le_Fromage_Grande]

Does it mean you're bent because you'd prefer to see a bit of dick in your pornography?

YES

[JackyJoll]

What about if you prefer watching heterosexual porn rather than lesbian porn?
Does it mean you're bent because you'd prefer to see a bit of dick in your pornography?

Serious question?

There’s a theory that men are turned on by watching men screw women because part of their mind thinks “I’m next to have a go.”

[Le_Fromage_Grande]

What about if you prefer watching heterosexual porn rather than lesbian porn?
Does it mean you're bent because you'd prefer to see a bit of dick in your pornography?

Serious question?

There’s a theory that men are turned on by watching men screw women because part of their mind thinks “I’m next to have a go.”

I'm not into sloppy seconds

[JackyJoll]

Does it mean you're bent because you'd prefer to see a bit of dick in your pornography?

YES

It’s definitely YES, if you’re also a fair-weather biker.

[Mr. Dazzle]

it didn't seem that unusual because I was used to army humour.

When I was a teenager I went to RAF Cranwell as part of an application for a College scholarship. Part of the selection was a medical, which included a 'drop and cough' test....Dr. cups your plums and gets you to cough.

Every time I mention this to someone their response is "WTF is that for?", except for anyone with a military background who immediately says "as yes, the drop and cough test, classic". Do MoD docs have a proclivity for feeling up nads or what?

[JackyJoll]

What about if you prefer watching heterosexual porn rather than lesbian porn?
Does it mean you're bent because you'd prefer to see a bit of dick in your pornography?

Serious question?

There’s a theory that men are turned on by watching men screw women because part of their mind thinks “I’m next to have a go.”

I'm not into sloppy seconds

Sure sign of a poove.

[JackyJoll]

it didn't seem that unusual because I was used to army humour.

When I was a teenager I went to RAF Cranwell as part of an application for a College scholarship. Part of the selection was a medical, which included a 'drop and cough' test....Dr. cups your plums and gets you to cough.

Every time I mention this to someone their response is "WTF is that for?", except for anyone with a military background who immediately says "as yes, the drop and cough test, classic". Do MoD docs have a proclivity for feeling up nads or what?

That perversion spread to the old atomic Ukelele as well.

[Noggin]

Sorry to bring this back on track, but -

First time I've contacted HMRC since around 2016/17

I have a letter here with the uk address I use on it

I did contact them back in around 2016 about a rebate and tried to amend my date of birth back then by sending copies of relevant documents to confirm it. These were sent by next day delivery as I was promised someone would be in the office to deal with them. They did arrive but weren't processed for a few more days (£25 down the drain for next day/saturday delivery)

Even though I was told they were processed, it seems that they weren't - I've just spoken to someone who couldn't confirm anything I told him, which means it wasn't what he had on the system. So my DOB is still wrong and my address is not the one that I have on a document from after I spoke to them and since I left the uk

FFS


EDIT - and the fukker has given me an incorrect phone number for the National Insurance office

[Pseudonym]

Just bringing this thread back to pensions and away from all things bollocks. Does anyone have an opinion on using BC&E to increase their pension/add to an existing one? I had to use them (previous employer) so didn't really have a choice, but just wanted an idea of how good they are, in terms of stability and return.

[Scotsrich]

Coincidentally I've just had my first yearly review with my IFA.

Considering I'm pretty risk averse as far as money is concerned and its in a pretty cautious fund I'm quite happy with 9.5% growth.

It's been a funny year all round for stocks and shares but it was probably helped by the fact I started feeding money into it gradually from April last year at which point prices had crashed and were just stating to recover.

Every cloud

[weeksy]

I was quite shocked that in 2020 mine went up, I was expecting it to have suffered.

[Mr. Dazzle]

Stocks actually had a good 2020...well the second half at least. US markets hit their highest ever value.

That is not necessarily an indicator of robust health though!

[Potter]

Didn't watch it all but I can guess at the content based on watching the last few minutes.
Basically I agree with his summing up of what's happening, except his view that it's a good thing - it's not a good thing to prop up financial markets whilst the rest of the world goes to shit.

Leaving financial markets trading strongly on quantitative easing, PR spin and thin air is just setting up a cliff face for everyone to shuffle off at some point - probably just as the pandemic starts to fade and people think we're getting somewhere back to normal and bang, the economy commits suicide as the false bottom drops out of the finance market.

The rest of the world is being squeezed (and will go on to be squeezed even more) into selling goods and services at reduced (or zero) margins. It's like the aftermath of 2009 again. Budgets are reduced, procurement looks to cut costs, goods and services sell at zero margins hoping to get over the hump, etc. It's unsustainable because of debt (that's that finance market that wants it's money back when it's not propped up anymore) and then the hits start coming, then even big companies like Carillion go bang, it takes ages if they're big and have lines of credit and people that don't want it to happen, but it happens in the end.

So I think there is money to be made now, but you definitely want to be sitting on cash in the 5-10yr section of this mess and not a bunch of assets (financial or physical) that will go for buttons in the scramble for liquidity.

Anyway, WTF do I know, I'm an electrician, I'm sure these experts running the show know what they're doing

[asmethurst99]

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.

My last Consultant retired earlier as changes meant he was paying in not to see the benefit and the Job was his hobby (I mean he really enjoyed it ).
I've got thirty years of NHS pension but the missus has 3 small pots from different jobs as she's contracted for the last 15 years .I hope to retire in 2 years and after that I will still do a few hours a week to top up my income -
I keep saying we need to speak to an IFA -

[Dodgy69]

Some pensions also offer a stepped or enhanced deal. You get more early so could possibly help those retiring early, or going part time, but when you get to your state pension age, it remains the same, your sort of loaned your state pension early. Kind of.

[Dodgy69]

I'm 55 in November, so possibly pension time. Plenty of options, Its a DB final salary, but at 55 much reduced, better to leave for a good while longer. Another option is to take the " transfer value " which would then become at risk and not guaranteed like the dB. You get offered a set amount and that's it, when it's gone it's gone. However, i can get this set amount at 55 without loss. No plans for giving up work and would last me many years, hopefully.

Basically, 25% tax free if you want it, then options on the rest. Leave invested with an insurance company who charge fee's but try and make you money. Drawdown seems a good option, where you just withdraw when and what you want. Buy an annuity so regular payments each month or just leave it invested.

Anyone have any experience of these "transfer value" options. Any info much appreciated.

Db scheme closed in 2017.

[Potter]

I'm 55 in November, so possibly pension time. Plenty of options, Its a DB final salary, but at 55 much reduced, better to leave for a good while longer. Another option is to take the " transfer value " which would then become at risk and not guaranteed like the dB. You get offered a set amount and that's it, when it's gone it's gone. However, i can get this set amount at 55 without loss. No plans for giving up work and would last me many years, hopefully.

Can't help with the advice on the actual pension....well I could but I'm just a bloke on the sidelines guessing, so my advice would be like any other blokes in the chip shop queue.

If I had a good job and didn't need the money and was happy with the status quo to sixty, then I'd leave it.
But, there is a lot to be said for a pot of cash that you can dip into to make the next decade or so a very nice place to be (covid aside) if it means enjoying life, holidays, etc, more than you might usually.

For me it would depend on the loss versus what it would give me now (and how long for).
My uncle got divorced, grabbed his money at 55 and disappeared like Shirley Valentine. On paper he's a clever bloke (accountant) but in reality he's a tool, ridiculously bad with his own finances, expensive tastes and always lived beyond his means, I did carefully explain that his money will run out in 10-15yrs and he'll be broke, but his event horizon is way less than that. He's probably balls deep in Thai birds now, but I reckon he'll be back in the UK on his uppers and skint at 65 - which just means he'll get a council flat and live like most pensioners, so maybe he's cleverer than I thought.