Pensions

[srd123]

Alternatively, talk sweetly to bank manager, get a buy-to-let mortgage, acquire a property near a university and stick a shed load of students into it. Let them pay the mortgage and then pay your living costs in old age (or alternatively, sell the house and live off the lump sum).

Not that I'm dissillusioned after working in the life and pensions industry for too many years before turning to the light-side:face-huh:

[tom wilson]

srd123, see my last post.

If it weren't for the hateful practice of buy-to-let I would have my own home, which would give me some security. If I ran the treasury, I would tax it out of existence before it creates a whole new underclass.

Incidentally folks, the buy-to-let market has now reached eastern europe, for those of us who can't find anyone poor enough to exploit in our own country.


(Freedom for Tooting)

[Digger]

I'm in the UK Gov pension but only been in it about 4 years and I'm in my late thirties. Contemplating retiring at 70, getting a lump sum and drinking myself to death within a few weeks. OZ has nice system where ALL employers contribute an extra 9% of your gross wage (thats on top of your gross earnings) into an independant superannuation fund. This kicks in after you have worked for a company for three months. After it's introduction, the economy did not collapse, no one went broke and unemployment is sitting between 3-4%. The UK gov had a look at it but decided they would have a backlask in the business comunity voters.

[Cautionary Tale]

A little off the current thread, but all this talk of pensions spurred me on to dig around and check what I should get at the end of xx years of toil. If I save £50 a month on a typical stakeholder pension, I'll end up with an income of c£2k in todays money. Great

As for the state pension

As much as it pains me to do so, I think i'll be off to see a FSA [xx(]

Desiderate le fritture con quello?

[roywhiting]

Digger,

You're contemplating retiring at 70? Hope you make it to that age chum Best try and cool it on the Tennents Super first!

[Digger]

True Roy, and the 30 odd cigs a day, loose women etc. God if I do that then there's no point in trying to make it to 70!

[lucy78green]

see the trouble is I work both sides of the border so I pay national insurance contributions in ROI and UK, but not a full year in either! I was thinking about discussing it with the bank but surely every bank tries to sell you their pension, so how do I know which is the best one! I don't know if anyone can last in archaeology to age 60+, surely the knees have given up by then...

Lucy

[kevin wooldridge]

quote:Originally posted by lucy78green

see the trouble is I work both sides of the border so I pay national insurance contributions in ROI and UK, but not a full year in either! I was thinking about discussing it with the bank but surely every bank tries to sell you their pension, so how do I know which is the best one! I don't know if anyone can last in archaeology to age 60+, surely the knees have given up by then...

There is an agreement by the Irish Government to include both Irish and UK contributions in calculating your pension entitlement, so working in both countries is not a problem.

By the way, I wouldn't bank on 60 as the qualifying age by the time you get your retirement pension, Lucy. The UK government have already introduced plans to make the male and female retiement ages equal (i.e 65) and may move to 67 soonish.

Can't speak for the knees, but it is normally the belly which gives out on most male archies first, followed by the lungs, the bladder and the sense of humour (the majority of male archaeologists get grumpier as they get older), after which the knees are kind of irrelevant. I am unqualified to speak on behalf of women, but imagine there is also a female perspective which parallels this!!

[Smaze]

Not mean to sound blasé about pension but when I started in archaeology no one would consider taking on a digger who didn’t know when his next contract would start…of course things have change over the years…but my pension plan remains the same… 1) dig your own grave and die on the job, hoping your fellow diggers will cover you up.. for someone to excavate in the future.. or 2) when I reach 65..go and do a bank job..if I succeed then head to Rio with the loot..if not the state will look after me in prision better than the state pension will…[?]

[historic building]

I suppose this is one area where the old local government units do offer some advantages to the industry with what is still a pretty good pension deal.