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  #106  
Old 15-01-17, 07:57 AM
twotone twotone is offline
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Quote:
Originally Posted by Colin Barron View Post
None of our friends or nabours will only have a state pension; but when i ask the bricklayers i use or the plumber, plasterer, roofers or joiner etc they have no additional pension arrangements.
That''s cause the self-employed can't afford 500 a month for a pension.

I certainly can't and couldn't afford that sort of cash every month, I know that amount decreases your tax bill by about 25% a year but there's still NI to pay at 9%.

I have a plumber's pension in which contributions stopped when I became self employed at about age 30, it's worth 2k now so maybe a pension of about 10 a month from that when I retire which is doubtful (if I'll retire) and I opted out of SIPPS (I think that's what it was called) when that came out in 1986 or thereabouts and opted to put those contributuons into a private pension but I was self employed four years later so there will be buttons in that.

My wife who has been employed for her entire working life, except for when we had the kids (eight years), has no pension provision either, well she has now but that only started last year so nothing for her either really.

Tony
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  #107  
Old 15-01-17, 08:06 AM
twotone twotone is offline
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Originally Posted by matt j View Post
Blimey, I need to put away 400 a month if I start now
I looked into pensions when that SIPPS thing came about (1986-ish) and the figures being bandied about by so called pensions experts were amazing but at the end of the day a pension will only pay about half of your wages with a year's wages as a tax free lump when you retire, least that was what I discovered back then, those so-called experts were saying that I would have 100s of thousands in a pension pot if I paid such and such in to over 30 or forty years etc but you really had to ask them what things (bread etc) were likely to cost in the future then you were nearer to what your pension would be worth in the future rather than being seduced with huge sums that really meant nothing at the time cause you had no idea how much that sum would be in real terms forty years later however no private pension with contributions only from yourself could ever match a pension with contributions from an employer as well as yourself.

I think when I was employed my pension contributions were about 6% of my wages a week and the employer paid nearly 4% a week on top of that.

Tony
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  #108  
Old 15-01-17, 08:40 AM
Colin Barron Colin Barron is offline
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Quote:
Originally Posted by Darth Vader View Post
"This is around 18% of single pensioners and 6% of pensioner couples. "

This is a far cry from your original assertion "the majority of pensioners were on 119 per week or less." And those on less than 155pw can get a top up.

Cheers,

DV
My original assertion was from a Times letter.
Other key points:
For all ages from 40 to 60, around a third of workers do not have a current pension. Most workers aged 24 or less do not have a pension.
Of the 67% who do have private/ occupation pensions there is the question of how much is the pension worth.
I don't know the calculation for part pension, where 30 or 35 years of NI contributions is required for a full pension.
If you look at the variables i think the letter could be correct but as you say there are other top ups available; but for how long.

When you look at the workforce as a whole (graph 2), of the poorest three fifths approximately 60% don't have a pension. There is a serious pension problem in the future.
http://www.poverty.org.uk/65/index.shtml
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  #109  
Old 15-01-17, 03:50 PM
Cav Cav is offline
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Women wanted equality, they have it.
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cheers

Cav
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  #110  
Old 16-01-17, 01:32 AM
jtrade jtrade is offline
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Haha, Mike - let him have it

BUT.... if the OP's wife has agreed to
Quote:
50:50 apart from pensions "because it's complicated"
- if indeed that's what she said - but what she really meant was

Quote:
50:50 apart from pensions "because that's my one asset that's much larger than yours"
... more often than not, the situation is the other way round in gender terms & courts regularly award the wife half the husband's pension... because they rule that this is fair.

The pension is an asset, so 50:50 of the assets is 50:50 of the assets. Same if he'd been the Head Teacher and she'd been self-employed / whatever...
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  #111  
Old 16-01-17, 01:38 AM
Bob McC Bob McC is offline
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Quote:
Originally Posted by Colin Barron View Post
My original assertion was from a Times letter.
Other key points:
For all ages from 40 to 60, around a third of workers do not have a current pension. Most workers aged 24 or less do not have a pension.
Of the 67% who do have private/ occupation pensions there is the question of how much is the pension worth.
I don't know the calculation for part pension, where 30 or 35 years of NI contributions is required for a full pension.
If you look at the variables i think the letter could be correct but as you say there are other top ups available; but for how long.

When you look at the workforce as a whole (graph 2), of the poorest three fifths approximately 60% don't have a pension. There is a serious pension problem in the future.
http://www.poverty.org.uk/65/index.shtml
All absolutely valid points about the FUTURE, not the present.
I also think your figures are outdated since the introduction of work place pensions. Few are opting out. Miserably inadequate as they are, more people are now trying to make some pension contributions.
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  #112  
Old 16-01-17, 09:14 AM
andyoz andyoz is offline
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Quote:
Originally Posted by BrendanD View Post
The resentment soured every aspect of our relationship over the past 15yrs.
Get good legal advice, get everything out in the open and then you can make a proper decision. You will either agree or disagree, but being quietly shafted is a poor decision.
This one...if the tables were turned to you think she would just glaze over the whole situation and move on...BS
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  #113  
Old 16-01-17, 09:25 AM
sean99 sean99 is online now
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Being quietly shafted - the basis of many a "happy" marriage.
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